I’m working on a deal with a local dealership. When I put all of the numbers in the calculator, I am coming up with a monthly payment of $572. They are saying it will be $643.
Here’s the details:
MSRP: $65,070
Selling Price: $59,000 (9.3% off)
Term: 36/12,000
Residual: 60
MF: .00137
MSD: 7
Rebates: $2000
Down Payment: $2500
From the dealer:
I’m not sure where they are getting their numbers for the Tax. And the Cash at signing doesn’t seem right either.
Any help is appreciated.
You need to find out exactly how that $6,070 is being broken down. Don’t just let them say “down payment and fees” or whatever. My guess is it’s not the dealer discount. Also, the MF is listed nowhere on that sheet so they could very well be marking that up.
You have very different due at sale amounts
The $6070 is the dealer discount. Initially via email they agreed to a 9.5% discount but at $58,000 it’s actually 9.3%. I also had them confirm the MF. After the MSD’s it’s 0.00102.
That’s why I am so confused.
Why is the cash down difference between what you wrote and what’s on the sheet drastically different?
They may be taking bmw incentives and rolling it in to the “dealer discount”?
Before you try to determine if the dealer is hiding discounts or anything, you need to make your due at sale amounts match so you can determine if there even is a difference in prices. Figure out exactly what there DAS is made up of. Does $7400 include MSDs? If so, how much. Does the $2000 rebate get applied to the $7400 as is often the case with bmw, meaning it is really $5400 cash out of pocket? Does that amount include MSDs? If so, how much?
exactly! I’ve seen some invoices where the “down payment” (shouldn’t be called that on your sheet) is the drive off + MSDs
Ok. So I got more information and I think I may understand what is going on, but it is definitely goofy.
The $7400 is made up of the MSD’s plus down payment. The strange thing there is they are claiming the MSD’s are $4900 when lease hacker says they should be $4200.
So outside of that, it looks like they are rolling the rest of the fees into the monthly payment. When I do that in the calculator, I get $648 a month compared to their $643.06.
By calculating with a lot more money DAS, you are lowering the monthly, and as a result lowering the amount of money per security deposit. Your $4200 MSD amount is based on a larger cap cost reduction.
