Thanks to @loberant I was able to lease a 2016 Demo vehicle with literally $0 down out the door for $367 a month.
MSRP: $54,095
Selling Price: $38,981
Rebates: College grad
Net cap cost: $39698.87
Months/ Miles/ Residual: 24 months/12K miles per year/68% - $2,894 in miles (12,074)
MF: .00134, no MSD
Due on signing: $0
Payment: $340.60 w/o tax, $367 w/ tax
I used [this spreadsheet](removed spreadsheet) and My Net Capitalized Cost was $300 less than actual which was close enough for me.
Virus Alert…DO NOT DOWNLOAD the spread sheet
@kkatl I’m sorry I did not know that site added viruses, I removed the link for now until I can host it somewhere else.
Congrats and 367 for a 5 series without MSD is awesome.
Congrats…As I said in the other thread, great looking car too!
Quick question @evil0ne (or anybody who wants to help) when you used your college grad - did they calculate your DTI?
The Rusnak dealer in Pasadena was telling me if I use college grad discount they would have to check my DTI (Debt to income ratio to see if I qualify for a lease.) If I didn’t exercise a college rebate- they don’t check my financial expense numbers… I thought it was weird…? @max_g care to chime in? Thanks!
Don’t they check DTI regardless?
So you would drive it to 24k miles total or 24k miles above what you bought it for?
should be the latter (above the car’s present mileage)
It’s an additional 24K miles over what is already on the car.
@Alex. Regarding the college grad attached are the rules per BMW. In my case the sales manager was concerned BMWFS wasn’t going to approve due to a derogatory mark 6+ years ago even though I qualified without issue for Tier 1. I asked the finance manager to submit it regardless and it appeared she was having a chat with someone at BMWFS and it ended up approved with what looked like minimal fuss.
All that said, it does specifically say on #7 DTI < 45%.
Nope- I’d be so disqualified (liabilities) for my recent purchases if they checked. I was going to help a brother get a Beamer since he graduated this year- and the salesperson was pretty serious about DTI. It’s the only time they make sure you’re under 45%. If you don’t exercise the college grad discount they overlook DTI. Those are the exact words from the sales guy.
Thanks! That makes sense now. Good job!
