Have a 2020 BMW X3 loaner lease with one more payment left. Car has 36,500 miles out of permitted 40k, and no damage. Payoff (including one more month) is $26,900.
Looking at a 2023 X3 xdrive with MSRP of $52,695, and they said that they can use equity in the current lease to bring payments down. Below is the summary sheet they sent me. While I understand how to calculate straightforward leases, I do not understand how the lease return is being valued and what the actual purchase price of the car is. Can anyone help me interpret this?
They are allowing you $30k on the trade and your payoff is $26.9k so they are applying $3,100 of equity towards the new lease.
They’re discounting the new car 7% to get the selling price of $49,105. Then you add all the taxes and fees, subtract the $3,100 equity, which brings your final out the door price to $47,729.
Considering the $2,168 drive off plus the $3100 of equity, think of this deal as essentially $599/mo with $5,268 DAS.
Before you do anything you need to solicit other quotes for your X3 from all the usual sources (CarMax, Carvana, etc.) to establish a ballpark and see if the $30k the dealer is offering you is good, bad, or indifferent.
