The 328i will be my first lease in texas. As I understand, Texans get to pay tax on the full amount of the vehicle. Please help me confirm my calculations.
MSRP Invoice
2012 BMW 328i $34,900.00 $32,110.00
Imperial blue $550.00 $500.00
Anthracite wood trim
Saddle brown leather
Premium pkg ZPP $3,600.00 $3,275.00
Luxury line ZLL $2,100.00 $1,915.00
Technology pkg ZTP $2,550.00 $2,320.00
Xenon headlights 522 $900.00 $820.00
Heated front seats 494 $500.00 $455.00
Satelite radio $350.00 $320.00
Destination Del $895.00 $895.00
Training service TRA $0.00 $200.00
TOTAL: $46,345.00 $42,810.00
Negotiated Price (Inv. + $500.00): $43,310.00
Down Payment: $0.00
Cap Reduction Cost: $43,310.00
Residual (64%): $29,660.80
Lease Usage: $13,649.20
Lease Usage Per Month (36mo): $379.14
Int on Monthly Pmt (.00195 MF): $142.29
Monthly Pmt ex TTL: $521.44
So if I add tax to $43,310.00 with a 6.25% rate, the tax burden is $2,706.88.
This is where I'm not sure of myself. If I roll that into my lease at a monthly rate, it comes to $79.19 of tax per month.
This would make my lease payment with tax $596.63.
Bear in mind, I've left off missing fees (acquisition, dealer fees, etc), but if the above stays the same, did I calculate the tax correctly?
If so, this makes a strong case to trade in instead of private sale of current car!
*And, no I haven't received the Invoice + $500 deal yet. I just want to have all my numbers correct before the dealerships try to brainwash me with dealerspeak.*