M5 lease in the US

[alexey21]

I know in Russia the M5 costs around 250k USD

[amgthis]

Originally Posted by CarolinaM5

You can if you get gap insurance....

Since when does gap insurance reimburse your down payment? Don't think it does...

[MSportDC]

Originally Posted by cpiguy

Just clarify, my lease was a 10k miles, 36 months, no cap reduction. My MSRP was $107,995.

I don't understand how you're coming up with that monthly payment - I'm using .00145, 51% residual for my calculations and still coming up around $1800/month - did you trade in your old vehicle?

[AGS]

Originally Posted by MSportDC

I got quoted 1800 after 5k cap cost reduction - this is for 36mos at 15k/year. MSRP was around 107k. Am I getting ripped?

I need a few more facts to know for sure, such as purchase price (if different than MSRP) and sales tax rate. I ran the calc using MSRP as the PP and 7% sales tax (NJ rate) and came out at $1,750. So it's close, but if you got a little off MSRP then it would appear your dealer may be marking up the BMW FS lease buy rate (.00145) unless your sales tax is significantly more than 7%.

[lllwlf]

I'm @ $1,113 with a $7,500 cap reduction on a 3/12,000 lease.

[cpiguy]

I must strat by saying I'm one that trys to minimize misinformation on this forum, so I appoligize in advance. I just didn't remeber it correctly. What appears like a cap reduction is the BMW test dive credits of $1500 and a customer loyalty credit of $750.

I got to the office and pull my lease agreement out.

Here you go.

[Vic55]

Originally Posted by cpiguy

I must strat by saying I'm one that trys to minimize misinformation on this forum, so I appoligize in advance. I just didn't remeber it correctly. What appears like a cap reduction is the BMW test dive credits of $1500 and a customer loyalty credit of $750.

I got to the office and pull my lease agreement out.

Here you go.

Can you elaborate on the "test drive" credits? I know about the 750 loyalty if you are coming out of a current BMW FS lease.

[Tylerstar]

The test drive credits I believe is called the ultimate drive App, on the iphone. I got a discount as well because of that.

[cpiguy]

Originally Posted by Vic55

Can you elaborate on the "test drive" credits? I know about the 750 loyalty if you are coming out of a current BMW FS lease.

BMW had 2 programs that included taking a test drive. Below is the email I recieved for the first one. The second one was for $500 and worked in conjunction with a BMW application you needed to install on your phone or iPad.

Dear Arnie,

On behalf of BMW and the U.S. Olympic and Paralympic Teams, thank you for participating in BMW Drive for Team USA. We hope you thoroughly enjoyed your experience at the event.

As a special thank you for your participation, we would like to offer you a limited-time $1,000 BMW Drive for Team USA Allowance, good toward the purchase or lease of a new 2012 or 2013 BMW model.*

Your redemption codes for this special offer are: OL12068-0050738 / OL12131-F3050739.

Remember, your drive went a long way—it helped future Team USA members train and qualify for the Olympic Games. And a few of the BMW Performance Team members would like to personally thank you in this video. After watching, please be sure to meet the entire team online at bmwusa.com/teamusa.

To continue showing your support, be sure to shop our lineup of Olympic products at ShopBMWUSA.com.

[Vic55]

Originally Posted by cpiguy

BMW had 2 programs that included taking a test drive. Below is the email I recieved for the first one. The second one was for $500 and worked in conjunction with a BMW application you needed to install on your phone or iPad.

Dear Arnie,

On behalf of BMW and the U.S. Olympic and Paralympic Teams, thank you for participating in BMW Drive for Team USA. We hope you thoroughly enjoyed your experience at the event.

As a special thank you for your participation, we would like to offer you a limited-time $1,000 BMW Drive for Team USA Allowance, good toward the purchase or lease of a new 2012 or 2013 BMW model.*

Your redemption codes for this special offer are: OL12068-0050738 / OL12131-F3050739.

Remember, your drive went a long way—it helped future Team USA members train and qualify for the Olympic Games. And a few of the BMW Performance Team members would like to personally thank you in this video. After watching, please be sure to meet the entire team online at bmwusa.com/teamusa.

To continue showing your support, be sure to shop our lineup of Olympic products at ShopBMWUSA.com.

thanks for quick reply.... thats a cool thing!!!

[Tylerstar]

Vic you plan on getting a F10? I remember you from the MB forums, you had a lot of sick cars.

[Vic55]

Originally Posted by TylerStarBmw

Vic you plan on getting a F10? I remember you from the MB forums, you had a lot of sick cars.

I have one on hold, pending the oil pump fix... I think I am.


I think I need to update my sig LOL

[Tylerstar]

Originally Posted by Vic55

I have one on hold, pending the oil pump fix... I think I am.


I think I need to update my sig LOL

Nice, yeah i think your due for that.

[CarolinaM5]

Originally Posted by amgthis

Since when does gap insurance reimburse your down payment? Don't think it does...

Sorry, I should have clarified, it can help you get your down back on purchase, but you're right, on a lease it won't help you a bit, hence I agree, you really shouldn't tie up a lot of down in lease.

[MSportDC]

Originally Posted by AGS

I need a few more facts to know for sure, such as purchase price (if different than MSRP) and sales tax rate. I ran the calc using MSRP as the PP and 7% sales tax (NJ rate) and came out at $1,750. So it's close, but if you got a little off MSRP then it would appear your dealer may be marking up the BMW FS lease buy rate (.00145) unless your sales tax is significantly more than 7%.

MSRP: $107175
Purchase price: $104175 plus 6% sales tax ($6262.50)
Registration and doc. fees: ~$550

Net cap reduction: $2200
BMW Loyalty credit: $750
36 mos. / 15k

Monthly payment: $1829.09

Still seems a bit high compared to what everyone else is posting here... could it be the market is driving the higher money factor because of my area? (Washington D.C. metropolitan)

[AGS]

Originally Posted by MSportDC

MSRP: $107175
Purchase price: $104175 plus 6% sales tax ($6262.50)
Registration and doc. fees: ~$550

Net cap reduction: $2200
BMW Loyalty credit: $750
36 mos. / 15k

Monthly payment: $1829.09

Still seems a bit high compared to what everyone else is posting here... could it be the market is driving the higher money factor because of my area? (Washington D.C. metropolitan)

If I understood you correctly, by my calculation your lease payment should be about $100 less ($1,734) using the BMW FS base lease MF of .00145. At $1,830, it would appear they are marking up the MF to about .00205.

I had some time to kill at the airport this morning, so take a look at the attached pdf and see if I entered in all of the information you provided correctly.

*** NOTE: I caught a bad cell reference in my sheet (cap cost reduction decreasing the taxable amount) after I posted it and the system will not let me replace it with the corrected sheet or add a follow-up post with the new spreadsheet (not sure why admins???). The net change with the correction increases the payment in each scenario by about $4. ***

[alexey21]

I agree with what AGS says. 1829 is very high. I wonder if you already took delivery of the car,

[SlammedM6]

Originally Posted by alexey21

I agree with what AGS says. 1829 is very high. I wonder if you already took delivery of the car,

I would take $1829 up here in Canada in a heartbeat....hell..I'd even round it up to $1900...

[lllwlf]

Originally Posted by MSportDC

MSRP: $107175
Purchase price: $104175 plus 6% sales tax ($6262.50)
Registration and doc. fees: ~$550

Net cap reduction: $2200
BMW Loyalty credit: $750
36 mos. / 15k

Monthly payment: $1829.09

Still seems a bit high compared to what everyone else is posting here... could it be the market is driving the higher money factor because of my area? (Washington D.C. metropolitan)

They're trying to pull a maneuver.--- They shouldn't be adding sales tax on top of the $104,175. Sales tax is paid on the lease payment and/or any cap cost reduction. Did they give you this in the contract, or over email?

I would guess that when they paper this deal (which you absolutely shouldn't do) they would show your purchase price as $110,400 and that 6K tax line would be much smaller, reflecting the 6% of the net caps you have listed -$2,200 and $750.

[Vic55]

Originally Posted by lllwlf

They're trying to pull a maneuver.--- They shouldn't be adding sales tax on top of the $104,175. Sales tax is paid on the lease payment and/or any cap cost reduction. Did they give you this in the contract, or over email?

I would guess that when they paper this deal (which you absolutely shouldn't do) they would show your purchase price as $110,400 and that 6K tax line would be much smaller, reflecting the 6% of the net caps you have listed -$2,200 and $750.

He could be living in what is called an "up front state" where tax is paid up front on either a purchase or lease. He will be able to advise better but there are states that require taxes on the full purchase price of a lease.

[AGS]

Originally Posted by lllwlf

They're trying to pull a maneuver.--- They shouldn't be adding sales tax on top of the $104,175. Sales tax is paid on the lease payment and/or any cap cost reduction. Did they give you this in the contract, or over email?

I would guess that when they paper this deal (which you absolutely shouldn't do) they would show your purchase price as $110,400 and that 6K tax line would be much smaller, reflecting the 6% of the net caps you have listed -$2,200 and $750.

Originally Posted by Vic55

He could be living in what is called an "up front state" where tax is paid up front on either a purchase or lease. He will be able to advise better but there are states that require taxes on the full purchase price of a lease.

I'm not sure how DC works, but I ran my calc the way they apply sales tax in NJ - on each individual payment.

[mpresiv5]

Originally Posted by MSportDC

MSRP: $107175
Purchase price: $104175 plus 6% sales tax ($6262.50)
Registration and doc. fees: ~$550

Net cap reduction: $2200
BMW Loyalty credit: $750
36 mos. / 15k

Monthly payment: $1829.09

Still seems a bit high compared to what everyone else is posting here... could it be the market is driving the higher money factor because of my area? (Washington D.C. metropolitan)

Mine is a bit higher. I did opt for wheel and tire package and dent wizard. also got 20k a year for 36 months..