10-02-2014, 07:58 PM | #1 |
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M4 Silverstone order placed, did I get a good deal?
So earlier today I have paid the deposit of $500 for an order that I have put below:
M4 Coupe Silverstone Metallic Black Full Merino Leather Executive Package Lighting Package 19'' Light Alloy Adaptive M Suspension M Double-Clutch Transmission Power rear sunshade Harman Kardon surround sound system $80,475.00 It will be a November built so a December delivery, and they will just waive the sales tax for it because they said that they can do that in December. That will be $1,161.00 down with a monthly payment of 1,164.61 for 10k miles per year for a 3 years lease. Now my question is, what does that mean to me? Do I have to pay the sales tax earlier or what does this mean to me exactly, will me affect me later when I will end the lease or something? Any feedback will be greatly appreciated as I can still walk by and say no. Thank you. |
10-02-2014, 08:44 PM | #3 |
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Meaning they said that they will deduct it and I won't have to pay that... that is the idea, I did not understand a lot from that... that is the issue that I have...
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10-02-2014, 09:59 PM | #4 |
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Assuming you get base MF and nothing off MSRP your payment should be about $50 less. If you add about 4.75% tax, then you get to about the payment they quoted you. Seems like you got a little off MSRP and they are charging you tax IMO.
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10-02-2014, 11:03 PM | #5 |
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If I play a little with iLeaseMyCar Pro from my phone and roll the tax into the first payment then I will get to a monthly payment of $1,148.56 but I am not sure I have put all of the dealer's fee in it... so to me it looks just like they are just paying for the tax...
I was told to think about this tax that I won't pay as credit and that it is done through BMW and it works as the Innovation Credit that they have right now from my point of view... I will have a rough night until I will get to them tomorrow to give me all of the numbers on a spreadsheet and also to give me in writing about that tax... damn it... I will have a very rough night... |
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10-02-2014, 11:14 PM | #6 |
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Let's see if I have this straight:
You pay BMW about $42,000 for the use of the car, then hand them the keys in 3 years with 30k miles on it. BMW then sells the car for at least $45,000 so, after all is said and done, BMW walks off with $87,000. They pay the dealer maybe, $5,000 for his troubles and end up with $82,000 on a car that costs them, maybe, what, $45,000 to build? Not a bad profit for BMW but it doesn't strike me as a good deal for you. I guess I just don't see $80k for this car. |
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10-02-2014, 11:14 PM | #7 |
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If tax is "waived" then they must be marking up the MF to raise your payment. Personally, that payment is about in line with what I've been seeing with that MSRP. Not the best but certainly not the worst I've seen. Keep us updated.
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10-02-2014, 11:23 PM | #8 |
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I went right now to BMW website, their payment estimator for the M4 as you configure it is down because it just resets to default so I used another calculator on their website to put the base price, I added dealer accessories of $16,275 to get to the final value of $80,475.00, I selected 0 down, Texas as my state, 10k miles per year for a 3 year's lease and it shows me there $1,106.00 per month... that is without any tax, document fees and so on... so me with the payment of $1,164.00 I am not quite far away from that... but remember, that excludes taxes what I got on BMW website...
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10-03-2014, 09:18 AM | #9 | |
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10-03-2014, 10:34 AM | #10 |
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You know, actually yesterday I got another offer for a car negotiated at $78,475.00 for $1,173.00 per month with a drive off-$1,978.00 plus the tax that I had to pay upfront so I don't think the deal I got is bad...
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10-03-2014, 09:48 PM | #11 |
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So, let's do it like this. The price of the car was $80,475.00 and it has a residual value of 59% that means $47,480.25, that means what I have to pay for it is the rest, meaning $32,994.75.
What I will actually pay for it will be $41,925.26. For me that seems like a very big APR unless I am missing some other stuff that BMW is adding there because the dealer's fees and the rest will be paid on the drive-off. Can someone help me with getting the APR that I am paying here to see if I am getting a MF markup or not? Thank you guys.
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10-03-2014, 10:23 PM | #12 |
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I still doubt tax is being waived. It's rolled in there somewhere. But let's say no tax...here is the calculation.
Base MF = .00129 = 3.096% APR Markup = .00183 = 4.44% APR That's what I used to get the payment they quoted you. |
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10-03-2014, 10:36 PM | #14 |
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What payment should I get with no mark-up? Also, the cost that I am paying should include any depreciation or just the 41% from the price + the MF?
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10-03-2014, 10:41 PM | #15 |
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Drives: '15 SO M4/'20 Z4 M40i
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Just buy the car and forget all this math
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10-03-2014, 10:45 PM | #16 |
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Well, you pay 41% + MF. You are also responsible for tax title doc (which seems to be the unknown). I threw $950 in fees with your calculation because that's what I'm getting charged. But if I ran your numbers with still zero tax and no mark up on MF I get $1095
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10-03-2014, 10:50 PM | #17 |
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Ok, I got it. Paying all of it is an option, too I will put it down on the table that I want to pay all of it and that they are paying for the tax or just give me $1,100.00 as a monthly payment.
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10-03-2014, 11:57 PM | #18 |
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That's what stupid people do, and is why stupid cars cost stupid $80,000 now. Don't be stupid.
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10-04-2014, 12:05 AM | #19 |
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Drives: '15 SO M4/'20 Z4 M40i
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Well, then I guess I am stupid, because I bought my M4, just like I did my previous 14 BMWs. I was just making a funny comment and didn't intend to get insulted.
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10-04-2014, 12:43 AM | #20 | |
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10-04-2014, 05:25 PM | #21 |
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MF is .00169... they are marking it up.
Why do they all mark it up, although they say they are not... Last edited by CiprianS; 10-05-2014 at 03:03 PM.. |
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10-05-2014, 02:49 PM | #22 |
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To the guys doubting that the "tax is waived", it's a TX lease thing. Dealers are allocated certain sales tax breaks by the state on leases. So yes, it can be "waived" on a lease payment.
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