Originally Posted by sennett0r
Thanks for your response! I'm gonna take a look at all the stuff you mentioned when I get home from work. Can't focus on this stuff here...
When I was a young kid out of college, I signed up for something that I regretted and paid way too much for a car. I happen to love BMW's and as long as you know what numbers you are looking and understand leasing, you can feel good about signing on the dotted line and negotiate a good deal. This board is great resource.
Some of the key things that helped me is understanding the MF, depreciation, and how multiple security deposits can be your friend to reduce the monthly payment.
MF x 2400 = interest rate. Go to this website for the monthly Money Factor and Depeciation as published by BMW Finance.
MSD's Lower Interest Rate by .0007 (they are refundable at the end of the lease). You can put down a maximum of 7 MSD's for a total MF reduction of .00049 x 2400 = 1.176%
MSDs are calculated by your monthly lease payment rounded up to the nearest 50 bucks. In your case your MSD's would be $700 each or $4,900. Again, refundable. In your example, if you put down 7 MSD's it would look like this:
Base MF = .00135
New MF = .00086
(or 2.064% Interest rate).
New Payment:$600.41 plus tax which is $38.75/month less. So if tying up $4,900 for 3 years to save $1,395 is worth it, your call.
To calculate your lease payment, go to this website and plug in your numbers:
GOLFFRR on this post quoted me right away and came in at a great price. I am in Seattle but you are pretty close to him. You may want to PM him and see what he can do. I was impressed.
If you need help, PM me and I can help you with MSD's or? Good luck! Let us know what you do.