OK so if the sales tax is upfront, then your inceptions make sense but my lease calculation included tax on the payment... so I re-ran the numbers.
Invoice price for a $103k X6M is roughly $95k (on bmwconfig.com)
To get to $1150 without tax, using leaseguide.com lease calculator, and assuming all other costs paid up front --
54% residual (again not sure if this is accurate for February but it was for January)
0.00076 money factor (assuming 0.00125 base rate although I think it might be higher, maybe 0.00130 as of January...
You would need the selling price to be $93.5k
Now, we know your MSD's are $8050, leaving $5450 for inceptions and up-front tax. At 8.875% NY tax, the total up front tax should be $3725 (roughly), leaving $1725 for first payment, title, and doc fees (very reasonable). That all makes perfect sense to me now.
So it looks like this is a deal at about $1.5k below invoice with no cap cost reduction on your part. That is a GREAT deal. Take it.
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