006
11-05-2007, 01:45 PM
Hi Everyone,
This is my first post here on Bimmerfest. I just wanted to run some lease numbers to see if I'm on the right track.
'08 328Xit - MSRP $40,325
- Selling Price $39,325
- Lease Term is 24 month at 15K per year
- Residual 70%
- Money Factor is .00275
- Tax is 7% in NJ
So with that......
$40,325 * .7 = $28,228 (Residual value)
($39,325 - $28,228) = $11,097 / 24 = $462.38 (Base monthly payment)
+
($39,325 + $28,228) * (.00275) = $185.77 (Monthly cost of money)
+
($462.38 + $185.77) * .07 = $45.37 (Tax)
=
$462.38 + $185.77 + $45.37 = $693.52 (Final monthly payment)
If this looks good, please let me know. Any opinions on negotiated price are welcome as well (this is an ordered vehicle).
Additionally, I see my inception costs as: $300 (doc fees), $625 (bank fee), $693.52 (first month's payment , and $700 for security deposit for $2318.52. Are these numbers way out of line? Anything I am missing?
Thanks so much for your time in advance. I look forward to getting this sweet ride!
This is my first post here on Bimmerfest. I just wanted to run some lease numbers to see if I'm on the right track.
'08 328Xit - MSRP $40,325
- Selling Price $39,325
- Lease Term is 24 month at 15K per year
- Residual 70%
- Money Factor is .00275
- Tax is 7% in NJ
So with that......
$40,325 * .7 = $28,228 (Residual value)
($39,325 - $28,228) = $11,097 / 24 = $462.38 (Base monthly payment)
+
($39,325 + $28,228) * (.00275) = $185.77 (Monthly cost of money)
+
($462.38 + $185.77) * .07 = $45.37 (Tax)
=
$462.38 + $185.77 + $45.37 = $693.52 (Final monthly payment)
If this looks good, please let me know. Any opinions on negotiated price are welcome as well (this is an ordered vehicle).
Additionally, I see my inception costs as: $300 (doc fees), $625 (bank fee), $693.52 (first month's payment , and $700 for security deposit for $2318.52. Are these numbers way out of line? Anything I am missing?
Thanks so much for your time in advance. I look forward to getting this sweet ride!
