11-14-2013, 06:00 AM | #1 |
Awesome Member
5
Rep 52
Posts |
Feedback on lease quote
Got a 36 month, 12k miles, $0 down quote.
2013 X5 50i with M Sport and M Performance. MSRP $75820. Selling price $66990. Monthly $890, including Texas sales tax. Good deal? |
11-14-2013, 06:08 AM | #2 |
Colonel
196
Rep 2,485
Posts |
Texas is not a good state in which to lease. Unlike most other states you are paying full tax on the full negotiated price of the car - a car that you are only renting for 2 or 3 years. So your payment is at least $100 more a month, just for taxes.
Regardless, without knowing your money factor and residual, we would just be guessing.
__________________
2006 E90 330i (retired)
2009 E90 335i (retired) 2012 E70 X5 50i M Sport (retired) 2016 F10 535i M Sport |
Appreciate
0
|
11-14-2013, 08:18 AM | #5 | |
Awesome Member
5
Rep 52
Posts |
Quote:
I optioned the f15 the way I would want it. $66k msrp. They were not wanting to come very much off msrp so monthly payment would have been over $1000. Plus this E70 has 440hp and 480 torque. And last, I think the E70 looks better than the F15 but that's just my opinion. |
|
Appreciate
0
|
11-14-2013, 09:10 AM | #6 |
Colonel
196
Rep 2,485
Posts |
I get $819 plus your taxes.
__________________
2006 E90 330i (retired)
2009 E90 335i (retired) 2012 E70 X5 50i M Sport (retired) 2016 F10 535i M Sport |
Appreciate
0
|
11-14-2013, 09:29 AM | #7 |
Awesome Member
5
Rep 52
Posts |
Hmm. I use the Leasematic app and it comes out to over $900 a month.
Are you capping the 6.25% taxes in? I am. Sales price is $68990 before $2000 USAA credit. |
Appreciate
0
|
11-14-2013, 10:58 AM | #8 |
Lieutenant
169
Rep 481
Posts
Drives: F82 BMW M4
Join Date: Feb 2007
Location: NJ
|
E70 X5 50i is one hot suv and Leasematic is the coolest app
$890 payment looks correct. I got it with 6.25% Texas sales tax capped and 59% residual for 12k miles, assuming 57% you mentioned above is for 15k. How much are the fees (Acquisition fee, doc fee, title/registration etc)? Are you paying them upfront? You just have to make sure fees are not marked up.
__________________
2021 BMW X7 M50i + 2015 BMW M4
Retired: 2018 Audi Q7 | 2015 BMW X5 xDrive35i | 2012 BMW X5 xDrive50i | 2010 Audi S4 | 2007 335i Coupe Creator of Leasematic - Lease/Loan Calculator | iOS App Store | Android Google Play |
Appreciate
0
|
11-14-2013, 11:05 AM | #9 |
Awesome Member
5
Rep 52
Posts |
I will have to double check on fees. I don't have the paperwork in front of me.
You are right. This is one of the last 50i in my area. If not state. And driving this thing was insane. Driving a $76k vehicle for less than $900 a month seems reasonable to me. Money saved will be put towards gasoline considering the mpg this thing gets. |
Appreciate
0
|
11-14-2013, 11:13 AM | #10 |
Colonel
196
Rep 2,485
Posts |
Does Leasematic calculate TX taxes correctly? Or does it apply the tax rate to the payment like most other states?
__________________
2006 E90 330i (retired)
2009 E90 335i (retired) 2012 E70 X5 50i M Sport (retired) 2016 F10 535i M Sport |
Appreciate
0
|
11-14-2013, 09:32 PM | #14 |
Lieutenant
379
Rep 462
Posts |
Is this an Owner's Choice quote? If I understand correctly Texas lease taxation sounds identical to Chicago's outright extortion on leases. Chicago also get's the "use tax" on top of the full tax on the cost of the vehicle. I went with Owner's Choice on a 2013 50i M Sport, no performance but I think you're quote is reasonable.
If this isn't already, get them to write it up as Owner's Choice to see if it makes it any better.
__________________
"... if he fails, at least he fails while daring greatly, so that his place shall never be with those cold and timid souls who knew neither victory nor defeat.” —Theodore Roosevelt
Instagram@particulardude |
Appreciate
0
|
11-14-2013, 10:11 PM | #15 |
Awesome Member
5
Rep 52
Posts |
I don't believe it is but I will clarify. Also update on payment. I thought something seemed wrong with numbers so I had my CA re-verify the numbers. Looks like fianance dept tried to be sneaky with .00165 MF after CA promised .00125. Needless to say he was embarrassed when I called him out. Should lower my monthly $40 to around $850.
|
Appreciate
0
|
12-03-2013, 10:26 PM | #16 |
Lieutenant
379
Rep 462
Posts |
where's the intro thread - did you end up picking this up?
__________________
"... if he fails, at least he fails while daring greatly, so that his place shall never be with those cold and timid souls who knew neither victory nor defeat.” —Theodore Roosevelt
Instagram@particulardude |
Appreciate
0
|
12-04-2013, 12:09 PM | #17 |
Awesome Member
5
Rep 52
Posts |
Yes ended up picking it up. However, I am traveling for business for the next two weeks straight. I promise a proper intro thread and nice pics when I get back.
|
Appreciate
0
|
12-04-2013, 02:04 PM | #18 |
Lieutenant
379
Rep 462
Posts |
Awesome - look forward to seeing it!
__________________
"... if he fails, at least he fails while daring greatly, so that his place shall never be with those cold and timid souls who knew neither victory nor defeat.” —Theodore Roosevelt
Instagram@particulardude |
Appreciate
0
|
Post Reply |
Bookmarks |
|
|