Help reading a lease term sheet

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Hi. I’m finalizing my first lease deal on a loaner and have a few questions about the term sheet.

  1. Is the destination charge included in the MSRP or will that show up as an addition to the sales price?

  2. In the sheet I got, they had “$950 as Bank Fee which I assume is the destination charge”. I asked for it to be capitalized and looks like they subtracted the rebates and then added the fee to get the final adjusted cap price. Is this correct?

  3. What is VLF (assuming license and registration), Doc and EVR fee? Is Doc fee supposed to be taxed as well?

Thanks for enlightening me on this!

Destination is included in the MSRP

The $925 charge is the lease acquisition fee.

VLF is vehicle licensing fee.
Doc is the dealer doc fee.
EVR is some other CA fee

It really doesn’t matter which fees you pay up front vs capitalized. Your due at sale amount is your due at sale amount. Ya, you can do weird things with BMW like trade the acquisition fee for a higher MF, but that generally only makes financial sense on short term leases

  1. On a lease worksheet the $995 destination fee is reflected in the MSRP and selling price.
  2. BMW acquisition fee is $925. You see it listed as “capped fees” on your worksheet. As per your request it has been capitalized. Selling Price + Acq Fee - Rebates = Adj Cap Cost, confirmed.
  3. Yes VLF is license and registration fees. $85 doc fee is capped by the state. $30 electronic filing fee is standard. Yes, you pay CA sales tax on the $85 doc fee when you include it as part of DAS.
    Good luck.

Thanks for the clarifications. So looks like everything it correct and legit and the dealer isn’t trying to put any extra fees which is a relief!

Post your final deal details! We’d love another data point!

Travelhawk: If you want to be on the look-out for “extra” fees a very common approach taken by dealers is to mark up the MF. Make sure you understand the MF in your deal. A good deal is a function of a good discount and a buy rate MF (OR, a bigger discount to offset all/some of the MF mark up).

VLF should be paid every year when re-newing registration of a vehicle?? or it is one time fee??

You get to pay it every year in California

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Thank you!!