BMW x2 loaner. Calculator not matching

Ask the Hackrs
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2

They’ve bumped up the MF from buy rate.

3

Ah yes. I thought I waived the acq fee but I didn’t in the 36mo term. Thank you. I’ll have to get that adjusted

4

Also, have you considered MSDs to bring buy rate down?

I’m getting a residual of about 53.3% based on your lease sheet versus the 56% you’re using. (22005/41245).

5

I have thought about the msd.
Can you clarify the residual part. The sheet the dealer provided stars 56% on it. But it’s only coming up as 53? That what you are saying

6

You are correct, it lists the residual as 56%. However, below that, it says adjusted residual is $22,005.95, which would account for the miles on the loaner.

7

Thank you. So that’s too low it should be adjusted to 56 from the 59% if anything

8

Not sure where you are getting 59% from? The dealer can’t change the residual since it is set by the bank, with the exception being accounting for the miles.

I rounded and used 54% as the residual and got $344: https://leasehackr.com/calculator?make=BMW&msrp=41245&sales_price=32351&months=36&mf=.00217&dp=0&doc_fee=297&acq_fee=925&taxed_inc=5500&untaxed_inc=0&rebate=0&resP=56&reg_fee=304&sales_tax=6&memo=bmw&zero_driveoff=true&salesPriceTax_radio=true&miles=12000&msd=0

Putting down 7 MSDs drops your monthly to $326.

9

I got that residual from edmunds. I’ll have them double check tho just to be sure.

10

Here’s an analysis of the lease worksheet…

MSRP = 41245
SP = 32351.35
Doc = 297
Acq = 925
Cap fees = 304.70 (might include 161.50 license fee… need to get an itemization)
Tax = 1958.91 = 6% x (32351.35 + 297)
Gross cap = 35836.96
CCR = 5500 (wasn’t taxed)
Net Cap = 30336.96
Res Factor = 56%
Residual = 56% x 41245 = 23097.20
Adj Res. = 22005.95 (mileage adjustment- check to see how they arrived at this adj. residual)

Mo. Payment = .00217 x (30336.96 + 22005.95) + (30336.96 - 22005.95) / 36 = 345.00
DAS = 345.00

11

4865 miles at inception is how, or how many there should be, which matches the sheet.

12

BMW is easy regarding residual adjustments based on term. Just add/subtract 6% when moving from 24/36 with the same miles per year. If 56% is residual for 3/36, 62 would be residual for 2/24.

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My concern is how did they arrive at the 22005.95 adjusted residual. Show me the calculation.

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Yes, edmunds showed 64% for 2years 12k. So minus 6 for 3years. Should be 58%

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So I did 4865-500 = 4365. 4365x.025 = 1091.25. Subtract that from the residual of 23097 and you get 22005. So that seems right. I’m just trying to figure out how there residual is lower than what I’m being told by 2%

16

Loaner miles - 500 *0.25 and subtract dollar amount from base residual. Or reverse engineered, take the difference of the two RV inputs, divide by .25 and add 500 to get miles.

Only way that number is wrong, is if they inputted an incorrect mileage on the form.

There’s no funny business with that number or BMWFS would just reject it

1 Like
17

Got it. Thanks!

18

where are you getting this deal?

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Just checked…these would be correct. 58% for 36/12 and 64% for 24/12. .56 would be a 36/15 residual. I’d have him double check his rate sheet once more.

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Thank you. I will. If I get that fixed. And the mf changed. My payment will go to 299 all in

21

got my deal