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E89 Z4 (2009 - current)

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  #1  
Old 06-05-2011, 07:43 PM
BEAMN BEAMN is offline
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Location: Houston, Texas
 
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Mein Auto: 2011 Z4 & 2012 X5D
Help - Lease Specials

Trying to secure a lease of 3.0 with PP, SP, HSeats, PAssist, USB with Spartanburg delivery. Lease terms are 2yr/10K with Texas sales tax of 6.25%. Would like to get some guidance as to what I have initially been quoted by the Houston dealer. Shouldn't this be in the high $400's based on what I have been reading? Appreciate any guidance as I really want this car!!

MSRP $58124
Residual $46500 (80%)
Cap Cost $53125
Adj Cap Cost $57243.06 (includes $797.75)
MF .00013
Tax $3320.31
Mthly pymt $582.50

Regards,

2007 525 Euro delivery
Member BMW CCA
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  #2  
Old 06-05-2011, 08:53 PM
Display_Name Display_Name is offline
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Location: CT
 
Join Date: Apr 2010
Posts: 76
Mein Auto: 2011 X5 35d, 2011 Z4 35is
Texas taxes the whole cap cost (I believe), making the deal not quite so good in the Lone Star State.

You are paying 6.25% of the value of the car in sales tax.

In most states, lease payment amounts are taxed, not the value of the car being leased.

Also, you should consider doing multiple security deposits to lower your Money Factor.

You list .00013 (I assume you meant .00130), so I'm guessing you have access to the loyalty rate reduction of .00030.

Doing 7 MSDs will reduce your MF by another .00049 to a final MF of .00081.

This would reduce your payments, with the same final cap cost, to $531.70. You'd have to give BMW FS use of $3,850 as security for 24 months, but that would save you over $1,200 in payments over the two years for an effective rate of return of about 15%.

(The Texas taxing scheme is what really kills this deal. If Texas taxed leases just on the payments, and you did the MSDs to lower the MF, your payment would be around $416. Even without the MSDs, taxing just the payments would lead to a payment around $468.)
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Last edited by Display_Name; 06-05-2011 at 08:54 PM.
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  #3  
Old 06-06-2011, 05:41 AM
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07X3platinum 07X3platinum is offline
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Location: Chicago
 
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Mein Auto: 2012 E550 Sedan
Illinois has the same ridiculous tax scheme as Texas when it comes to leases. How do these states get away with it? It seems like obvious tax fraud by the state. On top of that, in Illinois if you decide to buy your car at the end of the lease you have to pay sales tax AGAIN. Isn't that double-taxation?

I just received a quote from an IL dealer on a 2011 Z4 lease. 24 months, 10K/year, MSRP $54,200, $0 cap cost, with IL taxes included in the monthly payment and it came out to $660/month!!
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  #4  
Old 06-06-2011, 06:32 PM
BEAMN BEAMN is offline
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Location: Houston, Texas
 
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Mein Auto: 2011 Z4 & 2012 X5D
Thanks for the info. I will consider MSD's and possibly more off the sales price. Might be a bit difficult since it is an order and not sitting on the lot. Did find one that will work but it is a 3.5 but don't want to go any higher with payments.

Regards,
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  #5  
Old 06-06-2011, 07:22 PM
SANguru SANguru is offline
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consider doing Euro Delivery and MSD's. Did they also factor in the owner loyalty?
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  #6  
Old 06-07-2011, 03:41 AM
abmwc abmwc is offline
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Location: Northeastern Illinois
 
Join Date: Feb 2008
Posts: 180
Mein Auto: 2008 E93 335i
ED and MF

Quote:
Originally Posted by SANguru View Post
consider doing Euro Delivery and MSD's. Did they also factor in the owner loyalty?
Couple of questions about MF and ED:

Does the owner loyalty MF reduction require that you be a BMWFS customer, or only a current BMW owner?

Can one avoid the 0.0003 bump in MF on ED by making the second payment oneself, or is this obligatory with ED?

Thanks,
abmwc
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  #7  
Old 06-07-2011, 04:22 AM
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Kief Kief is offline
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Quote:
Originally Posted by abmwc View Post
Couple of questions about MF and ED:

Does the owner loyalty MF reduction require that you be a BMWFS customer, or only a current BMW owner?

Can one avoid the 0.0003 bump in MF on ED by making the second payment oneself, or is this obligatory with ED?

Thanks,
abmwc
1. According to bmwusa.com: "For current BMW Financial services customers..."

2. You cannot avoid the bump in MF for ED
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  #8  
Old 06-07-2011, 04:26 PM
abmwc abmwc is offline
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Quote:
Originally Posted by Kief View Post
1. According to bmwusa.com: "For current BMW Financial services customers..."

2. You cannot avoid the bump in MF for ED
Thanks for the reply.

Wish I had financed through BMWFS on my current car, could have saved about $40/payment. Live and learn (and maybe lease).

Thanks,
abmwc
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