I made a mistake in numbers
I have a 2008 M3 with 48k miles on it
Dealer told me they will give me $42,300 for my car. I was going to trade my car in, I still have about $18,300 left to pay on it. I was going to roll the money over into the lease for a lower payment. Seems like they took money off the M5 and rolled it into the trade.
2013 M5 Im looking is $103595.00 sticker price
36 month lease
10k miles a year
Buy out will be $52323.45 at the end.
Monthly Payment will be $887.81
taxes on payment $62.15
Total monthly payment with taxes $949.96
All I would do is use my trade as the down payment. Dealer is saying that $26550.00 would be used as the down payment towards the lease. According to the Dealer that would leave me with $19,000k left from the trade and they took 7550.00 off the $103595.00 of the car which in the price includes doc fees. Wouldn't the cost of the car then be $96045.00, $500.00 over dealer invoice?
I guess if I bought the car at the end the total would be
19,000k from trade
$52323.45 Buy out at the end
plus monthly payments = $103255.45
Even is I were to sell my car private I dont think I would get more then 39-40k for it for 2008 with the miles ?
Seems kind of high ?