Feedback on lease quote

Ginger Jay · 11-14-2013, 06:00 AM

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?

SteveMD · 11-14-2013, 06:08 AM

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.

Ginger Jay · 11-14-2013, 06:09 AM

Yep no other way around the taxes. Residual is 57% and MF .00125

P1 · 11-14-2013, 07:58 AM

Paying almost $900 a month to rent an old-body X5 seems like a lot of money. Why not get an F15?

Ginger Jay · 11-14-2013, 08:18 AM

Quote:

Originally Posted by P1et

Paying almost $900 a month to rent an old-body X5 seems like a lot of money. Why not get an F15?

Drove the F15. It was very nice inside, however steering is very light and sort of floats.

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.

SteveMD · 11-14-2013, 09:10 AM

Quote:

Originally Posted by Ginger Jay

Yep no other way around the taxes. Residual is 57% and MF .00125

I get $819 plus your taxes.

Ginger Jay · 11-14-2013, 09:29 AM

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.

Haris · 11-14-2013, 10:58 AM

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.

Ginger Jay · 11-14-2013, 11:05 AM

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.

SteveMD · 11-14-2013, 11:13 AM

Quote:

Originally Posted by Ginger Jay

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.

Does Leasematic calculate TX taxes correctly? Or does it apply the tax rate to the payment like most other states?

Ginger Jay · 11-14-2013, 11:30 AM

Yes it charges tax as if you were buying the vehicle. Which in my case is around $4300. Sucks to be a Texan when leasing.

X5 Copa · 11-14-2013, 03:43 PM

Are the wide open spaces of Texas going to mess you up re mileage?

X5 Copa · 11-14-2013, 03:44 PM

Are the wide open spaces of Texas going to mess you up re mileage?

particulardude · 11-14-2013, 09:32 PM

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.

Ginger Jay · 11-14-2013, 10:11 PM

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.

particulardude · 12-03-2013, 10:26 PM

where's the intro thread - did you end up picking this up?

Ginger Jay · 12-04-2013, 12:09 PM

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.

particulardude · 12-04-2013, 02:04 PM

Awesome - look forward to seeing it!

11-14-2013, 06:00 AM	#1
Ginger Jay Awesome Member 5 Rep 52 Posts Drives: Sold: '13 E70 50i Join Date: Mar 2012 Location: DFW iTrader: (1)	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?
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11-14-2013, 06:08 AM	#2
SteveMD Colonel 193 Rep 2,485 Posts Drives: 2016 F10 535i MSport Join Date: Dec 2005 Location: Raventown! iTrader: (3)	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
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11-14-2013, 06:09 AM	#3
Ginger Jay Awesome Member 5 Rep 52 Posts Drives: Sold: '13 E70 50i Join Date: Mar 2012 Location: DFW iTrader: (1)	Yep no other way around the taxes. Residual is 57% and MF .00125
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11-14-2013, 07:58 AM	#4
P1 Lieutenant General 11563 Rep 11,135 Posts Drives: 2004 3/4 ton Duramax Join Date: Aug 2007 Location: United States iTrader: (1)	Paying almost $900 a month to rent an old-body X5 seems like a lot of money. Why not get an F15?
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11-14-2013, 09:29 AM	#7
Ginger Jay Awesome Member 5 Rep 52 Posts Drives: Sold: '13 E70 50i Join Date: Mar 2012 Location: DFW iTrader: (1)	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.
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11-14-2013, 10:58 AM	#8
Haris Lieutenant 169 Rep 481 Posts Drives: F82 BMW M4 Join Date: Feb 2007 Location: NJ iTrader: (0) Garage List 2012 BMW X5 xDrive50i [0.00]	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
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11-14-2013, 11:05 AM	#9
Ginger Jay Awesome Member 5 Rep 52 Posts Drives: Sold: '13 E70 50i Join Date: Mar 2012 Location: DFW iTrader: (1)	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.
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11-14-2013, 11:30 AM	#11
Ginger Jay Awesome Member 5 Rep 52 Posts Drives: Sold: '13 E70 50i Join Date: Mar 2012 Location: DFW iTrader: (1)	Yes it charges tax as if you were buying the vehicle. Which in my case is around $4300. Sucks to be a Texan when leasing.
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11-14-2013, 03:43 PM	#12
X5 Copa Enlisted Member 2 Rep 41 Posts Drives: 2011 X5 Join Date: Jul 2013 Location: Park City iTrader: (0)	Are the wide open spaces of Texas going to mess you up re mileage?
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11-14-2013, 03:44 PM	#13
X5 Copa Enlisted Member 2 Rep 41 Posts Drives: 2011 X5 Join Date: Jul 2013 Location: Park City iTrader: (0)	Are the wide open spaces of Texas going to mess you up re mileage?
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11-14-2013, 09:32 PM	#14
particulardude Lieutenant 379 Rep 462 Posts Drives: LR4 \| L405 SC SWB Join Date: Dec 2009 Location: Chicago iTrader: (0)	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
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11-14-2013, 10:11 PM	#15
Ginger Jay Awesome Member 5 Rep 52 Posts Drives: Sold: '13 E70 50i Join Date: Mar 2012 Location: DFW iTrader: (1)	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 Quote

12-03-2013, 10:26 PM	#16
particulardude Lieutenant 379 Rep 462 Posts Drives: LR4 \| L405 SC SWB Join Date: Dec 2009 Location: Chicago iTrader: (0)	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
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12-04-2013, 12:09 PM	#17
Ginger Jay Awesome Member 5 Rep 52 Posts Drives: Sold: '13 E70 50i Join Date: Mar 2012 Location: DFW iTrader: (1)	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.
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12-04-2013, 02:04 PM	#18
particulardude Lieutenant 379 Rep 462 Posts Drives: LR4 \| L405 SC SWB Join Date: Dec 2009 Location: Chicago iTrader: (0)	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
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