G37xS Leasing question
05-01-2012, 09:28 PM
#16
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I leased a 2011 G37 XS Coupe, $49k msrp...$450 monthly payments, $1500 total out of pocket, and i get 12k miles per year. As others have said, shoot for low 4's, and dont put so much out of pocket.
05-02-2012, 02:34 AM
#17
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Ok so I bought the car haha. Another dealer gave me a good price on a graphite shadow G37xS with tech, nav, premium, and sports packages. It also had a spoiler installed at the factory with other random things, with MSRP close to $47.6k. I put down $900 and had $1800 negative equity with my other lease (turning it in 27 months before the due date). They brought the price of the car down to $41.4k and money factor was 0.0008. With 39 months, 12k miles a year, my payment turned out to be $490 (tax is 10% here). Threw in all season mats too. I don't think I could have done any better given the negative equity in my trade. They gave me the most of any dealer on it too. I would have probably preferred blue slate over graphite shadow but the car does look sharp with the spoiler on it and the chrome around the body. Do you guys think it turned out to be a good deal haha? It is a blast to drive that's for sure!!
Last edited by TheGuac; 05-02-2012 at 02:47 AM.
05-02-2012, 02:13 PM
#18
If so - they KILLED you on the MF rate to make money. Base rate is .0003. they got at least $1,000 - $1,500 cash back from IFS for almost TRIPLING your MF rate.
Unless you have ultra crappy credit, i would be PISSED.
http://www.ridewithg.com/index.php/2...es-april-2012/
05-02-2012, 03:29 PM
#19
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Is this a sedan????
If so - they KILLED you on the MF rate to make money. Base rate is .0003. they got at least $1,000 - $1,500 cash back from IFS for almost TRIPLING your MF rate. Loo
Unless you have ultra crappy credit, i would be PISSED.
http://www.ridewithg.com/index.php/2...es-april-2012/
If so - they KILLED you on the MF rate to make money. Base rate is .0003. they got at least $1,000 - $1,500 cash back from IFS for almost TRIPLING your MF rate. Loo
Unless you have ultra crappy credit, i would be PISSED.
http://www.ridewithg.com/index.php/2...es-april-2012/
Last edited by TheGuac; 05-02-2012 at 03:46 PM.
05-02-2012, 10:43 PM
#20
Base rate of 0.0003 is for 36 months. I chose 39 for lower payments so it went up to 1.9%. I am only paying 200 in interest over the course of the lease so I don't think anything is fishy. Am I not thinking through this right? With 36 months at 0.0003, which we were originally doing, the payments were about $30 more, so I chose to just pay slightly more interest over the long term to get lower payments. $200 isn't really all that bad (I pay $5 a month in interest haha), certainly not $1000-1500.
When your lease term is extended (from 36 to 39) the residual goes down with it. The base MF does not change. They raised it on you, plain and simple. I am not sure of the exact kickback from IFS, but i can tell you it was decent. BMW FS kicks back ~$500 to the dealer for a .00010 increase.
You might want to use a lease calculator. You're paying more than $5/month in interest.
Rough math. On a 42K car, sold for 40K, with a residual of 60%, changing the MF from .0003 to .0008 changes the MONTHLY interest portion of the payment from $19 to $52.
05-02-2012, 11:44 PM
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When your lease term is extended (from 36 to 39) the residual goes down with it. The base MF does not change. They raised it on you, plain and simple. I am not sure of the exact kickback from IFS, but i can tell you it was decent. BMW FS kicks back ~$500 to the dealer for a .00010 increase.
You might want to use a lease calculator. You're paying more than $5/month in interest. Rough math. On a 42K car, sold for 40K, with a residual of 60%, changing the MF from .0003 to .0008 changes the MONTHLY interest portion of the payment from $19 to $52.
You might want to use a lease calculator. You're paying more than $5/month in interest.
Rough math. On a 42K car, sold for 40K, with a residual of 60%, changing the MF from .0003 to .0008 changes the MONTHLY interest portion of the payment from $19 to $52.Agreed upon price of the vehicle: $40400
Depreciation: 17450 (higher because I rolled in my negative equity to the cap cost)
Rent charge (aka interest): 218
Total: $17660
Base monthly payment for 39 months: $450
Tax: 43
Total monthly: 493
I actually think the interest is right then. The car is really nice!
05-02-2012, 11:51 PM
#22
Hmmmm. This is from my lease agreement--
Agreed upon price of the vehicle: $40400
Depreciation: 17450 (higher because I rolled in my negative equity to the cap cost)
Rent charge (aka interest): 218
Total: $17660
Base monthly payment for 39 months: $450
Tax: 43
Total monthly: 493
I actually think the interest is right then. The car is really nice!
Agreed upon price of the vehicle: $40400
Depreciation: 17450 (higher because I rolled in my negative equity to the cap cost)
Rent charge (aka interest): 218
Total: $17660
Base monthly payment for 39 months: $450
Tax: 43
Total monthly: 493
I actually think the interest is right then. The car is really nice!
05-03-2012, 01:55 AM
#24
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When your lease term is extended (from 36 to 39) the residual goes down with it. The base MF does not change. They raised it on you, plain and simple. I am not sure of the exact kickback from IFS, but i can tell you it was decent. BMW FS kicks back ~$500 to the dealer for a .00010 increase.
You might want to use a lease calculator. You're paying more than $5/month in interest. Rough math. On a 42K car, sold for 40K, with a residual of 60%, changing the MF from .0003 to .0008 changes the MONTHLY interest portion of the payment from $19 to $52.
You might want to use a lease calculator. You're paying more than $5/month in interest.
Rough math. On a 42K car, sold for 40K, with a residual of 60%, changing the MF from .0003 to .0008 changes the MONTHLY interest portion of the payment from $19 to $52.
05-03-2012, 02:38 PM
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But this is not about tax. It is about the money factor. Our tax rate is 10%. If you divide the depreciation (which is basically a reflection of the negative equity + depreciation of car) by 39, the rate is 447. My base rate is close to 453, which means the interest is $6 a month. The tax is then 10% of that. Lease calculators all say the same thing--paying $200 over 39 months for interest. Tax is required regardless so that is a moot point.
Last edited by TheGuac; 05-03-2012 at 02:59 PM.
05-03-2012, 03:02 PM
#27
But this is not about tax. It is about the money factor. Our tax rate is 10%. If you divide the depreciation (which is basically a reflection of the negative equity + depreciation of car) by 39, the rate is 447. My base rate is close to 453, which means the interest is $6 a month. The tax is then 10% of that. Lease calculators all say the same thing--paying $200 over 39 months for interest. Tax is required regardless so that is a moot point.
05-03-2012, 03:05 PM
#28
But this is not about tax. It is about the money factor. Our tax rate is 10%. If you divide the depreciation (which is basically a reflection of the negative equity + depreciation of car) by 39, the rate is 447. My base rate is close to 453, which means the interest is $6 a month. The tax is then 10% of that. Lease calculators all say the same thing--paying $200 over 39 months for interest. Tax is required regardless so that is a moot point.
05-15-2012, 11:57 PM
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Sorry for the delay. The money factor was actually 0.00008, which caused the finance charge to be $200 over the course of the lease. If you input that into your calculator, it should come out to what I'm paying. I'm perfectly happy with 0% finance essentially =).