zhp help

[bimmaboy23]

Im looking into purchasing a zhp, and after going to kbb.com and putting all of the options i wanted, it gave me an invoice price of $38,350. I then used leaseguide.com's lease payment method with the following:

residual = 64%
$0 down
MF = .0012 (sedan)
36 months
12,000 miles
VA = 4.5% sales tax
MSRP of $43,300

First, does this money factor value seem correct? I was told that coupes are now .0022 and sedans are .0012. Is this correct? And if not, how can this be calculated on my own to show a dealer?

Having assumed that I would be able to get this car at about 3 or 4% over invoice, the monthly payments I got came out to be around $426.86, which definitely seems too low (this does not include miscellaneous fees like tags, etc).

Can anyone who has been in this situation help me out because I dont want to start calling dealers with bogus numbers and get laughed at. Any input would be great.

Lastly, I live in the DC/Metro area but am pretty flexible on traveling to a good dealer that will help me work out a deal. I go to school in Charlottesville, VA, so the two hour drive has become customary....Any suggestions?

[mecklaiz]

64% residual seems kinda high... I think that's for the 2004 Coupes only...

Z

[Tanin]

believe it's .62% ( as of June 2003 for 330 ZHP )

[lcc991]

59% for 15k,
61% for 12k,
62% for 10k

2004's are 64% for 15k... but you won't get the .0012 mf

[bimmaboy23]

what would be the money factor on an '03 zhp?

[otacon]

Actually, VA sales tax on cars is 3%. I used to live there.

Originally posted by bimmaboy23
Im looking into purchasing a zhp, and after going to kbb.com and putting all of the options i wanted, it gave me an invoice price of $38,350. I then used leaseguide.com's lease payment method with the following:

residual = 64%
$0 down
MF = .0012 (sedan)
36 months
12,000 miles
VA = 4.5% sales tax
MSRP of $43,300

First, does this money factor value seem correct? I was told that coupes are now .0022 and sedans are .0012. Is this correct? And if not, how can this be calculated on my own to show a dealer?

Having assumed that I would be able to get this car at about 3 or 4% over invoice, the monthly payments I got came out to be around $426.86, which definitely seems too low (this does not include miscellaneous fees like tags, etc).

Can anyone who has been in this situation help me out because I dont want to start calling dealers with bogus numbers and get laughed at. Any input would be great.

Lastly, I live in the DC/Metro area but am pretty flexible on traveling to a good dealer that will help me work out a deal. I go to school in Charlottesville, VA, so the two hour drive has become customary....Any suggestions?

[blueguydotcom]

Originally posted by bimmaboy23
what would be the money factor on an '03 zhp?

Depends on if you get Multiple Security Deposits. buy 10 of them and your money factor will drop to 0.0003 or 0.0002 depending on the dealer.

As of July 1, you can only buy 5 MSDs (instead of ten). Each MSD buys down the MF by 0.0001.

If you don't think it's a savings consider that I bought my ZHP for 400 over invoice. A normal MF 12 15k mile a year lease would have been 550 a month with CA tax.

I bought 10 MSDs and my lease is 480 a month. My 5k in MSDs will save me $2500 over 3 years. Not a bad rate or return. And I get my 5k back at the end or I can use it to buy out the car.

If you're leasing a BMW, MSDs are a great way to make out like a bandit.