Need some help making sense of a 36/7.5k lease for a 2024 BMW i5 eDrive40.
I offered 14% off and buy rate MF (.0019), resulting in $710/month incl. tax + $3,317 DAS (I estimated $199 doc fee and I’m only eligible for $500 military incentive, no loyalty, conquest or fleet). Leasehackr Calculator - Hack your next lease | Leasehackr
Dealer responded with $706/month incl. tax + $3,317 DAS and said they modeled the deal using my numbers but didn’t have a detailed breakdown for me to review (dealer is impacted by CDK cyber attack). I accepted and Finance struggled for four hours handwriting the docs and basically gave up filling out part of the lease agreement (it was 9:30pm Sunday). They had me sign based on this worksheet and promised a typed copy of the lease agreement later. (It appears their doc fee is only $85 and they moved some cash into down payment).
Two days later, they brought me this typed lease for $660/month incl. tax + $3,317 DAS. I can’t get the math to work out so I’m not sure what they did, but I just signed since it was lower than the original amount. Can anyone make sense of it? If there are errors will BMWFS just reject this?
Yeah, and it shows. That lease agreement is a disgrace. It has a few mistakes…
There is an acg fee = 683.8 on line 9(A)(8) and another Acq fee = 925 on line 13(N).
Gross Cap 67700.00 line 10(A)
Cap Reduct. 9117.25 line 10(B)
Adj Cap 57657.75 line 10(C) should be 58582.75
This inflates the payment. The base payment should be 653.59. The contractual payment should be 653.59 x 1.0775 = 704.24
This is what happens when you rush things. These people are a bunch of nervous wrecks. I’ve watched them.
There is no need to pay anything out of pocket at lease inception if you so choose. You may want to create a target deal, complete a lease proposal, and
email it to the dealer. Then, negotiate via email/phone. Based on the dealer’s lease worksheet (the lease contract is garbage), here is what I have…
Lease inception fees
1st payment 785.12
CCR 6588.40
CCR Tax @775% 510.60
Doc Fee 85.00 (dealer shows no doc fee tax)
Tire Fee 7.00
Gov Fees 776.00
EV Reg. Fee 33.00
TOTAL 8785.12
Rebate Credit 8000.00 DAS 785.12
Payment calculations
MSRP 77645.00
Sell Price 66775.00
Acq Fee 925.00
Gross Cap 67700.00
CCR 6588.40
Adj. Cap 61111.60
Residual 41928.30 (RF = 54%)
Term 36
MF .00190
Total rebates 8000.00
Sales Tax Rate 7.75%
Base Pmt = .00190 (61111.60+41928.30) + (61111.60-41928.30)/36 = 728.65
Contractual Pmt = 728.65 x 1.0775
= 785.12
I don’t advise paying out of pocket money upfront other than the 1st payment. Conserve your cash for other durable goods and services that may outweigh any other savings. A car is a depreciating asset, not an investment. If you total the car, you may not be able to get your front money back. Your call.
Nope. This is exactly why I’m suggesting that you use a portion of the rebate to pay upfront fees except the acq fee which is typically capitalized. However, this can be paid upfront as well.
Bottom line is DAS = 785.12 plus 35 remaining payments of 785.12 each.
14% appeared to be the most aggressive discount on Leasehackr so I emailed the dealer with a specific stock # and requested 14% off with base MF. They initially responded and said they thought we had a deal, but then it was like pulling teeth to get a response after multiple follow up emails and calls. I showed up in person with a completed lease worksheet at 14% off and base MF and said I would sign now. They reviewed for a while and then agreed to do the deal.
Appreciate everyone’s feedback! I assume the dealer will want me to resign and I may try to restructure based on delta737h’s recommendation. I’ll follow up with an update once I know more.
If I email the dealer with a specific stock number and request a 14% discount right away, would that be too aggressive?
What do you recommend for the initial inquiry?
Why do you keep asking variations of the same question again and again?
No offense but time to put some big boy or big girl pants on and stop worrying so much
One of 10-15 dealers will accept 12-14% at buyrate. Prepare for a lot of rejection and get cracking finding the one.
PS you should be making offers in their entirety. Not something ambiguous like asking for X percent off and leaving everything else open to interpretation.
I never heard anything from the dealer so I tried to access my BMW financial account to pay the monthly and it errored out. I called the dealer and it seems the paperwork/lease went into a black hole and was never processed. They had to redo all the paperwork and agreed to meet in between the two payments I had been quoted, which came out to $695/month incl. tax + $3,317 DAS (already paid). This was about $15/month less than the target deal I went in with, so I was happy. They also paid this month’s payment for the hassle of having to sign another lease. I wasn’t sure how to account for that in the calculator, so I put it in post-sales incentives. CALCULATOR | LEASEHACKR
