I’m negotiating a deal for an x5 lease and got what seems like a decent quote:
15% off on a demo w 4,000 miles; 2019 x5 40i
MSRP $66245
Selling $56300
15% discount
MF (post MSD) .00093
Residual 58% ($37,422 factoring demo miles)
I pay 9% tax; first month, acquisition fee, registration due at signing. $0 cap cost reduction
LH calc says: $624 post-tax
Dealer calculated $666.59
I can’t figure out what I’m doing wrong…
We need to see the dealer’s worksheet and your calculator link.
Here is my calculator. I don’t have his sheet. Just got the numbers over email and confirmed on a call. Plugged in to LH and there’s a discrepancy
You are missing the dealer fee. Did the dealer say the DAS amount is $2035?
From his email:
“Just inception fees due at delivery ($ 666 1st pmt., $4900 Security, $1008.25 Bank Fee incl. tax, $289.97 new registration = $6863.”
So $1963 when you exclude MSDs. My calculator is a bit higher than this but only by $100ish…
Incidentally, when I divide the total lease cost ( $23,928) by 36, I get $664. So, basically his number. Weird. The payments I see are still lower. Less concerning, though
Here is the lease sheet. When I plug the Sale price, miles, MF etc into the calc, I’m getting a way lower payment
That doesn’t look like a dealer lease worksheet. Where is the doc fee?
In your calculation, you are counting the incentive twice.
That is from the dealer. My calculator is above in the link. I plugged in his #s and get a wildly different monthly payment.
According to my math, a 15% discount on $66245; base MF; 4k miles on residual should be much lower than $666/mo.
I’ll call him and see what’s going on.
Your demo miles (thus RV) and sales price are wrong. If you fix those, the numbers match pretty close.
Thanks, Jon
That’s the first time i’ve seen a dealer worksheet in an xls format.
basically, my issue was double counting the incentive. Did not realize it was on the sheet later, so I included it in my selling price
Horse is dead.
