Wow. That’s a helluva jump from a 15k car to a 115k car!
Glad you’re here so you can learn for next time. They marked your MF to the max on this deal and you saw 0 benefit for the one pay.
Nothing wrong with leasing these cars, just cast your net wide and far! Brokers go a long way towards helping.
I got 'buy rate on my X3 loaner 3 years ago. If was at a Sonic dealer. Now my local BMW dealer can KMA…their initial deal was full MSRP. It was so insulting I didn’t even counter.
Could’ve been a 3 year old S-class AMG with an original MSRP of $150k.
If buy rate was .00152, shouldn’t max mark up have been .00192? Or was the mark up allowable different a few years ago?
Yeah I don’t even think that kind of mark up is possible, doesn’t make sense.
But for the OP, it’s better you found this site now. Just work to get a deal for this next lease and don’t worry about it. Most of us had crappy leases in the past as well.
If the MF is stated as .00235 on the contract then I don’t think the captive would have allowed an incorrect mark up. Contract shouldn’t have funded? Unless one pays allow Infinite MF mark up.
The point is, he says it states .00235 and the contract was approved by the captive. Should have bounced back.
I do remember two years ago the MF being as high as .00235 marked up to the max, but base but rate was like .00172. I’m going off memory so I may be wrong on the buy rate.
Would it be of any use in taking these lease numbers to the current Sales Manager and ask about the MF used? Maybe as a negotiation tool? Or am I being ridiculous!?!
Only if you want to make the sales manager salivate at the possibility of buying another boat.
This deal is done and in the past. The only thing it should serve as now is motivation to you to be overly educated on every last detail of your next deal.
Okay, thanks for all of the advice. Great site!
Yah, I’d assume that either its a case of buy rate was different at the time or there are different rules on one pays or something like that. I’ve always thought bmw was capped at a .0004 max mark up, but no clue if there are exceptions now or in the past.
Look at the bright side, at least you’re a runner-up in the worst lease ever category.
OP states their credit score was 786 at the time, was that an accurate score or basing it off a Fako score? What would the bump be if they were in fact in a different credit Tier?
It’s good to be a winner at something!
The finance manager gave me a copy of my credit score when he printed out the lease agreement. The source was Experian.
Ok, now people start ridiculing OP, so it’s time to close this.