Hi all - This is my first lease (2024 X1) and I’m trying to figure out how what all goes into the Gross Cap Cost. The BMW finance guy didn’t give me a written breakdown of what all went into that cost (other than $925 acquisition fee stated in the contract). He explained the breakdown over a phone call, and most of it made sense, but one part that I can’t figure out is I’m pretty sure he said the 1st month’s payment is included in the Gross Cap Cost. Does this sound right or do you think I misheard?
I added it all of the the components he stated (including the 1st month payment amount) and it all adds up to the Gross Cap Amount stated in the contract.
If the first month’s payment is included in the Gross Cap, I would think that same amount would be included in the Cap Cost Reduction because I’m paying it upfront at lease signing.
Am I missing something here? Please let me know if you need additional details.