Quote:
Originally Posted by Uvamack
Please advise on lease. I am looking at a 2014 M5 Sakhir Orange , Manual, with Driver Assistance Plus, Executive Package, and Competition Package. I see lots of good threads of members helping other members out so I would truly appreciate any assistance on shooting for the best price I can on this car. Below I have listed the 2 options proposed to me by the dealer in VA. This vehicle has been on their lots for months now.
MSRP: $107,825. 12k miles/ year 36 months.
1st Option:
Negotiated Price $99,847
Money Factor: .00130
Residual: .60 for 12k miles/year
MD Taxes: $6190.56
Tags: $317
Monthly: $1421
2nd Option 7 MSD (Multiple Security Deposits)
Negotiated Price $99,847
MSDs: $9100 (1300x7)
Money Factor: .00050
Residual: .60 for 12k miles/year
MD Taxes: $6190.56
Tags: $317
Monthly: $1283.03
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Are you leasing this car? if yes why are you paying full tax?
In California we just pay the tax for amount of monthly lease.
For First option:
So basically what you have to pay is 35K (Sales price - Residual) + 36* rent fee (MF* (Sales price + residual)) = 42800 * 1.06 (if tax is %6 in MD) =45368. your monthly payment is $1260. tag and license fee upfront.
BTW this is based on 0.0013 MF; however you have to negotiate to lower MF
Edit: I was told that MD is the state requires full tax.
So the calculation will be changed. The total amount is now 49K and monthly payment is $1360