Deal check
(Updated from original deal post, to reduce new threads)
MSRP: 48,760
Sales price: 36,500 (25.2% discount includes 2,000 fleet discount which they included in overall discounts instead of in incentives)
discount: 25.2%
750 lease cash
MF: 0.00102 (they agreed to .00092 but then said it got marked up because of my credit (‘elite’ not “super elite”, which is strange because I have a 750+).
Months/miles: 36/10k
Car has ~3800 miles
acq fee: 699
dealer fees 799
registration 450 (they said if these are lower than 450 they’ll refund the rest)
tax: NY 8.625%
I’m paying tax down, and getting the rest capitalized, see calculator. Any thoughts?
Color I wanted, and with convenience package and virtual cockpit which I was looking for. Would’ve preferred gray with mocha and premium, or the rumored x5 for $450 a month, but you can’t have it all
Why put so much up front? Rolling in the taxes would still have you around $400/mo, which would make this an easy vehicle to swap in the future if you wanted rather than trying to recoup your upfront costs.
Does it? That’s the kind of thing I wasn’t sure of… Most ‘deals’ I see here hover around low 300s.
If I wanted to transfer it in 6-12 months, wouldn’t a 400+ payment be somewhat high?
Also, on a similar note, for NY, if I have to pay taxes upfront, but roll them into the monthly, and then transfer the vehicle after 12 months, do I suddenly have to pay a balloon payment to cover the remaining taxes, or how does that work? I’ve looked into a few threads discussing NY taxes but didn’t find anything covering this…
If you roll the taxes into the monthly payment and transfer out of the car, you don’t have to pay anything else. Depending on what state the transferee is in, his payment could rise a little from getting double taxed, stay the same, or it could even go down. All depends on the state. I know for NJ to NJ, the payment stays exactly the same, but NJ to NY means the transferee has to pay NY tax on the remaining payments as a lump sum at time of registration.
This isn’t the only place to transfer a lease. You’d have no problems with transferring this on SAL at $400/mo, I don’t think.
NY gets paid the taxes up front. By rolling them in, you’re capitalizing the taxes, but they still go to NY upfront. They aren’t paid incrementally out of the monthly. If you transfer it, it should be no different than if you paid them up front.
Just went through this with my swap for NY to NY, transferee pays the tax on the monthly payment even though taxes may be capitalized in the monthly payment. Tax is essentially double-taxed at this point in NY.
Yep agreed - following the transfers page but haven’t found anything matching my criteria just yet… Honestly the flexibility is what I’m looking for / what I need right now, (and the only thing preventing me from being a proud Volvo ‘owner’ (my favorite rental cars for the past 1-2 years).
Agreed it may change at any given point (like MBFS and others did), but I just haven’t found the right deal on transfers.
Update - i don’t think they know what they’re doing… (or maybe I don’t know what I’m doing )
They sent me a quote with “rebates” for purchase, and then sent me an even lower quote:
MSRP: $51,xxx
Total Dealer Savings: -$12,xxx
Total: $38,xxx before taxes & tags
But then they said this was only for purchasing, not for leasing:
This price does not have any incentives included. My managers ran this with dealer discounts only to get to your requested price. Because of this it would financed through a bank, not BMW financial. If you are looking to lease this vehicle we would have to run a different scenario through BMW financial.
MSRP: 48,760
Sales price: 36,500 (25.2% discount includes 2,000 fleet discount which they included in overall discounts instead of in incentives)
discount: 25.2%
750 lease cash
MF: 0.00102 (they agreed to .00092 but then said it got marked up because of my credit (‘elite’ not “super elite”, which is strange because I have a 750+).
Months/miles: 36/10k
Car has ~3800 miles
acq fee: 699
dealer fees 799
registration 450 (they said if these are lower than 450 they’ll refund the rest)
tax: NY 8.625%
I’m paying tax down, and getting the rest capitalized, see calculator. Any thoughts?
Color I wanted, and with convenience package and virtual cockpit which I was looking for. Would’ve preferred gray with mocha and premium, or the rumored x5 for $450 a month, but you can’t have it all
We agreed on 0.00092 before running my credit. Now they’re trying to mark it up to .0012 claiming that I haven’t leased before. I’ve got a 750-790 but he claims I’m “elite” not “super elite”.
Any thoughts here? I’ve read the credit pages but not sure if I have a case to push back on here. .00092 was annoying but okay given discount. 0.0012 is actually bothering me because I feel they’re just trying to add money back into the deal for themselves.
Did they provide you, in writing, a disclosure stating what cost increase was being done because of your credit or did they just verbally say “hey, we are bumping your price, here is a new quote?”
They are FedEx sending me the papers with the updated MF. Not sure whether it will be disclosed there. So far only verbally let me know it was raised due to the “elite not super elite credit”
Is that something I should ask for in writing? Does that make a difference?
