[xibondix]

Hello All was hoping for a little help with my very first time leasing a car. Purchasing is a lot more straight forward.

So I decided to go to the local BMW dealership for just a look and ended up wanting a M235i with a 6MT.

MSRP: 51,175
Negotiated price 49,275
USAA rebate of $500

Lease terms 36 Months / 15000 miles a year

The rent charge 4,844.08
depreciation: 23,713.64

residual 30,193.25

I bought the excess wear for $750 (I have a large dog and prone to curbing wheels)

My monthly is 793.27 which seems a lot higher than some of the people posting on here (I do drive a lot so I needed the 15K a year)

I did not put anything down except for the 1st months payment and the negative equity of my trade

I have not taken delivery because the car was just delivered and they have not done the PDI, I was thinking I can walk away and use one of the forum sponsors for ED and order the car I want. But if this is an okay deal I can stick with it.

Thoughts are very much appreciated.

[BMW F22]

What are your tax rates, MF quoted, etc?

[xibondix]

The MF is .0016
Sales tax 4.05 percent

[BMW F22]

I don't have a laptop with me to run numbers but that payment is super high. Contact one of the forum sponsors and get a quote from them. If you're near Georgia contact Adrian Aviles at South Atlanta BMW.

[Lucky13]

Your money factor is high, that's 3.84% and most people were getting 3.12% (.0013)back in the spring. Your sales tax is a killer.

[wilwinchester]

How much was the negative equity of your trade ?

[Delnari]

Must be your trade that is pushing you over $700 a month.

[xibondix]

-3500 on the trade but I am paying that off

so my initial payment is 3500 + first month,

[xibondix]

Thanks to all that replied, ended up knocking another 1500 off price and bought the car outright this AM. I just kick myself in the arse for not doing ED now.

[Gatriel]

Originally Posted by xibondix

Thanks to all that replied, ended up knocking another 1500 off price and bought the car outright this AM. I just kick myself in the arse for not doing ED now.

This is the correct reply.

I leased an Infiniti G in 2011 -- they had some killer end of year deal in Atlanta "OMG GET THIS SHIT OUT OF HERE BEFORE WE HAVE TO PAY INVENTORY TAX ON IT" kind of nonsense, I got it for nothing down, $212 a month at 10k a year.

I will never lease a car again. The mileage restriction is a huge bitch, and if you drive a lot -- there will be times towards the end of your lease -- where you will opt for delivery as opposed to take-out because the 3 miles there and back from Dominos is just too much.

Now lets see pics! Congrats!