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      11-05-2018, 12:09 PM   #44
Private First Class

Drives: 2019 X5, 2011 550; 2004 X5
Join Date: Nov 2015
Location: Washington DC Area

iTrader: (0)

Originally Posted by roxxor View Post
So I feel like I am missing something in the lease offer a dealer is presenting me with. I admit, having only done a lease once 12 years ago with Acura, I am not the most knowledgeable person on the topic, but I have done some research. Using some calculators online, the monthly payment I am calculating isn't coming close to what the dealer is telling me the payment would be on an X5 40i.

36 month/30k miles
MSRP: $79,330 which includes the Destination Fee
Selling Price: $75,230 plus $1k loyalty
Residual: 59%
Total Drive-off: $15k value from trade-in, nothing owed
Acquisition: $925

Money Factor: Dealer dodged me when I asked about the monthly and the money factor, stating taxes were the reason it was what it was, which doesn't give me a lot of confidence about them being upfront.

Using the online calculator with the above info and assuming the .00182 MF, my payment should be around $660/mo. However, the number the dealer is giving me is $775/mo. Even if they are playing with the MF some, I can't imagine how they are possibly getting to that monthly rate. Any experts that could chime in?
They are playing with both the money factor and maybe also adding a bunch of extra fees. I was first given a money factor that was about 9%..crazy.

I would also pull out the trade completely. Makes it harder for them to mess with the numbers. Frankly, you probably shouldn't put anything down on a lease. Have them give you cash back for your trade and put that away and use it to pay your first 18 months of payments.