Possible 2012 650i x drive lease swap
Hey guys -
This is just an idea, but I'm thinking about switching over to a four door. I've only had my coupe for a few months, but it looks like my wife and I are going to try and start a family sooner than I orignally thought. With the current holiday incentives it looks welcoming, but I would have to find someone to transfer my current lease to. I've laid out all costs I paid and what it would cost for someone to get into a '13 with the same options, given what I put down on my '12. I'm sorry for the detailed info, let me know if anyone might be interested. Thank you!
2012 650i X drive-
Carbon Black Metallic
Black Nappa Leather
Gray Poplar Wood
Cold Weather Package
Full LEDs with 20"s
B & O sound
Heads up Display
Instrument panel w/leather
MSRP - $106, 495
12,000 Miles a year - 36 Months
Lease started 7/1/2012
Currently 3,300 miles
Residual is $68,156
Total monthly payment = $889.14 (I paid tax upfront)
This is what I would be looking for to get out....
Lease fee $250 (I will pay $250 and split)
I paid $4868 in cap reduction ($135/m x 6 months(what I've used) = $810
Cap Reduction reimbursement $4000
I paid $3600 for 4 MSDs - this is returned at the end of the lease
I paid $2926 in taxes up front ($81/m x 6 months) = $486
Tax reimbursement $2250
I paid $725 for ED fee, $369 Doc fee, $350 for NYS reg fee. I will eat those.
Total out of pocket = $250+$4000+3600+2250= $10,100 ($3600 of which you'll get back)
Now to compare a '13 with the same options and putting down the same money....
2013 650i X drive
M Sport w/20s
57% residual for 36mos, 12k year
$3500 options credit
$700 loyalty credit
(Cap reduction $250+$4000 from above) $4250 + $600 (reduce MSD from above, 3600 to 3000. Use the 600 to get monthly pymt below 1000)
Tax payment from above $2250
MSDs from above $3600-600= $3000
Sale price $750 over US invoice = $99,895
Cap Reduction- $4850
Options credit + loyalty= $4,200
Net Cap = $90,845
Residual 57% = $108,095 x .57 = $61,614.15
Depreciation = Net Cap - Residual $29,230.85
Dep Cost = $29,830.85/36 = $811.97/mo
Net Cap + Residual = $152,459.15
Money Factor = .00135
3 MSDs = .00007 x 3 = .00021
Final MF = .00114
Finance pymt = $173.80
Total Monthly pymt before tax = $985.77
Tax on Final Pymt = $985.77 x 8% x 36mos = $2,839.02
Tax on Cap red/options credit = ($4850+4200) x 8% = 724.00
Total Tax = $3,563.02
Apply my tax payment above $2250
Remaining tax = $1,313.02
Cash Breakdown -
Cap Reduction - $4850
3 MSDs - $3000 (refundable)
Tax - $3563.02
1st payment - $985.77
Dealer Fees - $369
State reg - $350
Total Out of pocket = $13,117.79 ($3000 refundable)
Total Monthly Pymt = $985.77
Unless I'm missing something, the swap would be about $3k less upfront assuming you paid similar costs upfront and save about $100 a month. Thank you for looking.
Congrats on starting a family..
You would have a better chance unloading this vehicle is ate the upfront cost and transferred the payments as is..
Any educated consumer would probably shy away from the 2012's because of the engine upgrade on the 2013's.. So you I think sweetening the deal is your best bet..
Or you can just keep it... A car seat should fit in the backseat nicely... No?.
Not sure if anything fits in those back seats :)
I totally understand the engine issue. I m not going to eat $9k after having the car for 5 months, just doesn't make sense.
Even with current rates, you can't find a '13 loaded for under $900 a month. That was the reason I showed the comparison. Outside the engine difference it's really not a bad deal, you're just paying the cost upfront rather than over the lease.
Personally.. I wouldn't pay for anything up front on a lease... The main reason would be if I got into an accident I am not sure if I would get that money back. The deposits you should be able to get back.. But the upfront taxes are essentially a sunk cost.. You car is fully loaded.. If someone would be willing to part with about 10k to get in it up front it would be a good deal.. I wish you luck..
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