#3 – None of that makes any sense… You’re saying the sales tax regulation would somehow have saved you money, but it’s no longer effective?
You do you, whatever justification you need for a deal you’ve already signed. You’re paying $61,000+ to drive (what I assume is a 6 cylinder) X7 for three years, which is bordering on complete insanity. Just buy it.
I’ll stick with my suspicion that they weren’t negotiating in complete good faith. The salesperson only sent a blurry image of the initial reservation/quote (which disclosed the VIN etching and couldn’t be read from the blurry image) until I badgered him and didn’t refund the deposit until I got on his case.
It made financing more expensive. As an example, you buy a car for $120k. Two years later you want to trade it in and it’s worth $75k. The car you’re buying is $140k. Despite the trade-in, you would pay sales tax on $130k of the new car since the sales tax credit was capped.
Given the feedback in this thread, I’ll look into that.
If you just signed the dealer might undo it so you can purchase
No need to pay acquisition fee
Thanks for looking at the contract so closely. I took a look at how the sales tax was calculated. It was $62,045 * .0725 (state sales tax rate) = $4,498.27. There was also $635.45 in county sales tax.
$96,825 MSRP
Minus $2,250 discount
Selling price = $94,575
Plus 7.5% sales tax = $101,668
Add another $1,000 in dealer and DMV fees
Total $102,668
downpayment = $2,226
Total financed = $100,442
72 month loan at 3.29% = $1,539 monthly payment
Instead you chose to lease for about $150 per month more.
Probably couldve done a balloon payment for few hundred less than that. Overall terrible deal, I would buy out car rather than continue leasing. Cut your loss now.
This is hard to even read it, let alone to actually be the one who has to make the payment. Ouch…
deal but beautiful spec. Let’s see some pics!
Enjoy
Horrible deal….we leased a X7 40i in August for like $940 a month……M Sport, executive, alcantara, etc.
You can’t compare a deal from last year.
With how much down???