Hi Hackers,
I am back in the market for a BMW 3 series sedan. I wanted a know what a good deal really is. For me a good deal is something that I can actually get in a reasonable amount of time ( like 2 weeks) not something that I have to wait for forever. Here is a quote that I got from a local BMW dealer ( I am in northern california) . I know this is a bad deal but I wanted to understand what will be a good deal that is also practical. I also want to understand some of the numbers from the pros.
BMW 330i
MSRP - 48340
Residual - 62%
Lease end value 29970
Initial Cap cost 45593 ( This was the advertised sale price)
Rebate 2000
Term 36
MF .00186
Total Adds to Cap 925 ( This is the BMW fee which I think is standard is california.)
Adjusted Cap 44518
xxxmt/Add: 377.00 ( Not sure what this is . Sorry the picture was cropped so it wasn’t clear. Probably DMV fees)
Base monthly rental 542.64
Tax 46.12
Total Monthly 588.76 ( This matches my calculation given the factors.)
Total Initial fees 109 ( Don’t know what this is. Is this BS )
Total Upfront fees 417 ( Don’t know what this is either)
Total Sales tax 1837 ( How did they calculate this number? don’t know. Doesn’t seem to affect the lease though.)
Amount due at start 1291.56
Here is a lease spreadsheet I made ( based on a spreadsheet from internet) -
https://docs.google.com/spreadsheets/d/1Q69N_CTBNc_SouUTrOTuuaY413YWp2Pw1eaaANGvt6I/edit?usp=sharing .
So My calculation matches the monthly price but I have no idea how they came up with amount due.
My questions are
- At what price point monthly will this be a acceptable deal . What am I shooting for ?
- Are the “Initial fees” and “Upfront fees” common? Negotiable?
- How did the dealer come up worth 1291.56 amount due at start. Makes no sense to me.
Planning to send emails to many dealers in the area but want to know what is realistic without getting ripped off.
Thanks