I didn’t mean to sound smug. I was replying to someone specifically that was telling me what I could or should afford… I am well aware there are others here that have been driving nicer cars than mine and for longer. It’s those people like yourself I’m assuming, that I am seeking advice from.
Ok, here. Max MSDs with no down payment at all
Total cost is $45187. Still $1300 less money than if you put down 11500 to pay less interest and no risk if you total it.
Thanks for the calculation. So yes, looks like MSD’s are the way to go if possible. Can you by MF down to 0?
There’s a cap on how many you can apply. In your case, no, the base MF is too high to buy down to 0.
I appreciate the info. I have learned what I know about leasing from this site. It has been very helpful to me. After reading a bunch of posts to learn about leasing terms, etc… I actually felt somewhat informed when I went into the dealership. Thanks everyone for contributing.
OP has stated LTV (90% max or approx $81,000 capitalized) is an issue here so no matter how you slice it they will need to throw down some kind of CCR.
It’s possible they would raise that cap with MSD’s. I think it’s worth investigating with F&I.
If I’m not mistaken, BMW allows a max of 7 deposits. Many other marques allow up to 10.
I think in your case max MSD is a great way to mitigate that big MSRP—at least get some relief on the interest. Even if you still have to do some CCR to get approved, I’d def recommend considering max MSD.
Yah, he will have to find the right number (although one would think that this would be the actual proper use of an MSD, although I don’t know if BMW treats it that way). The reality is that the biggest thing he can do to pay less interest is to max MSDs though.
Is it to late to inquire about using MSD’s? The deal has been approved by BMW but I have not taken delivery.
Have you already signed your contract and paid or just filled out applications?
Just applications and paid deposit. I don’t sign until it’s delivered.
Who knows, maybe you get lucky and MF is lower for August (you can take better of the two.)
Can only go down for me right? Will I be locked in to the lowest of the two months? Or if it goes up, does mine go up too?
If it goes up, you stay locked in, if it goes down, you can choose the lower rate.
Nice. I will report back when I get a lease sheet. I just wanted to throw out there what I got for anyone else looking. I didn’t see anyone else report anything about leasing one of these in TX so figured I’d give everyone at least a starting point to go by.
I considered picking up some quotes on these at one point or another. But the reality is i’d never pay that much monthly for any vehicle so off the table it went.
You can get them at considerably less MSRP. And if you get one already on the lot, at least from the one in Temple, I was told they could do a better deal. Problem with Austin dealership is there is no shortage of people in this town with more than enough money and desire to afford one of these. Temple I don’t think has quite the same population demographic as Austin.
But and sell it after. Way cheaper at the end
And order it. 7.5% discount plus your credit score will be better
It’s not always easy to move a $50k used SUV on the private market. I know I don’t shop craigslist when I’m looking to drop fifty dimes or so. OP seems like he’s settled on a direction and is looking for ways to trim any remain fat.