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      10-02-2012, 08:15 PM   #45
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Originally Posted by Vic55 View Post
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.
You're correct. MD is an "up front state" where we pay the full tax amount on purchase OR a lease.
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      10-02-2012, 08:19 PM   #46
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Originally Posted by AGS View Post
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. ***
Thanks for taking the time to plug in my numbers. It appears they are marking up the money factor a bit.
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      10-02-2012, 08:25 PM   #47
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Quote:
Originally Posted by MSportDC View Post
Thanks for taking the time to plug in my numbers. It appears they are marking up the money factor a bit.
Maybe not. If I add the tax on the residual value to the cap cost, the payment jumps to $1,825 with the base MF of .00145. Is that the way they take care of the sales tax in DC? Add the full amount to the cap cost?
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      10-02-2012, 08:27 PM   #48
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Originally Posted by AGS View Post
Maybe not. If I add the tax on the residual value to the cap cost, the payment jumps to $1,825 with the base MF of .00145. Is that the way they take care of the sales tax in DC? Add the full amount to the cap cost?

The title will be given in MD - so yes, they add the tax of the full vehicle price up front for purchases and leases.
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      10-02-2012, 08:30 PM   #49
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Quote:
Originally Posted by MSportDC View Post
The title will be given in MD - so yes, they add the tax of the full vehicle price up front for purchases and leases.
See if the revised calc looks right. I taxed the full vehicle price and rolled it into the cap cost. Gets pretty close to what you're being quoted.
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File Type: pdf Lease Calc - MsportDC.pdf (11.2 KB, 48 views)
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      10-02-2012, 09:34 PM   #50
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Quote:
Originally Posted by Vic55 View Post
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.
Did not know that. Really has to throw a wet blanket on all those sign and drive campaigns for VW.
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      10-03-2012, 12:07 AM   #51
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Originally Posted by AGS View Post
See if the revised calc looks right. I taxed the full vehicle price and rolled it into the cap cost. Gets pretty close to what you're being quoted.
This looks legitimate. It gives me peace of mind. Thanks again.
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      10-03-2012, 12:24 AM   #52
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Quote:
Originally Posted by CarolinaM5 View Post
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.
Ahh alright, thanks for clearing that up.
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      10-03-2012, 02:13 AM   #53
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cpi,

Your monthly payment is $1763/month, but you mentioned in your post it's actally $15xx/month, am I missing something here?
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      10-03-2012, 07:06 AM   #54
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Quote:
Originally Posted by MSportDC View Post
This looks legitimate. It gives me peace of mind. Thanks again.
No problem, happy to help ... the discrepancy would drive me crazy too! I'm anal about knowing exactly how the calculation works - I sat with a BMW finance person to build an excel spreasheet to calculate lease payments the same way BMW FS does.
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      10-03-2012, 08:50 AM   #55
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Quote:
Originally Posted by CarolinaM5 View Post
You can if you get gap insurance....
Gap insurance does NOT cover your initial outlay of cash. Gap insurance just covers the "gap" between what is owed to the bank and what the insurance is paying out for the car.
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      10-03-2012, 10:14 AM   #56
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Quote:
Originally Posted by cpiguy View Post
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.
Quote:
Originally Posted by Leonardo629 View Post
cpi,

Your monthly payment is $1763/month, but you mentioned in your post it's actally $15xx/month, am I missing something here?

I think he clarified in the above post to his error.
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      10-03-2012, 10:57 AM   #57
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Quote:
Originally Posted by Vic55 View Post
I think he clarified in the above post to his error.
Correct, it was a brain fart or just bad drugs. Either way I was off on my memory of my payment amout. Sorry
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