11-29-2012, 07:52 AM | #1 |
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Possible 2012 650i x drive lease swap
Hey guys - This is just an idea, but I'm thinking about switching over to a four door. I've only had my coupe for a few months, but it looks like my wife and I are going to try and start a family sooner than I orignally thought. With the current holiday incentives it looks welcoming, but I would have to find someone to transfer my current lease to. I've laid out all costs I paid and what it would cost for someone to get into a '13 with the same options, given what I put down on my '12. I'm sorry for the detailed info, let me know if anyone might be interested. Thank you! 2012 650i X drive- Carbon Black Metallic Black Nappa Leather Gray Poplar Wood Cold Weather Package Full LEDs with 20"s M Sport B & O sound Heads up Display Instrument panel w/leather BMW apps ARS Shadowline Ceramic Control MSRP - $106, 495 12,000 Miles a year - 36 Months Lease started 7/1/2012 Currently 3,300 miles Residual is $68,156 Total monthly payment = $889.14 (I paid tax upfront) This is what I would be looking for to get out.... Lease fee $250 (I will pay $250 and split) I paid $4868 in cap reduction ($135/m x 6 months(what I've used) = $810 Cap Reduction reimbursement $4000 I paid $3600 for 4 MSDs - this is returned at the end of the lease I paid $2926 in taxes up front ($81/m x 6 months) = $486 Tax reimbursement $2250 I paid $725 for ED fee, $369 Doc fee, $350 for NYS reg fee. I will eat those. Total out of pocket = $250+$4000+3600+2250= $10,100 ($3600 of which you'll get back) Now to compare a '13 with the same options and putting down the same money.... 2013 650i X drive Cold weather Executive package Full LEDs M Sport w/20s B&O ARS MSRP= $108,095 57% residual for 36mos, 12k year $3500 options credit $700 loyalty credit (Cap reduction $250+$4000 from above) $4250 + $600 (reduce MSD from above, 3600 to 3000. Use the 600 to get monthly pymt below 1000) Tax payment from above $2250 MSDs from above $3600-600= $3000 Sale price $750 over US invoice = $99,895 Cap Reduction- $4850 Options credit + loyalty= $4,200 Net Cap = $90,845 Residual 57% = $108,095 x .57 = $61,614.15 Depreciation = Net Cap - Residual $29,230.85 Dep Cost = $29,830.85/36 = $811.97/mo Net Cap + Residual = $152,459.15 Money Factor = .00135 3 MSDs = .00007 x 3 = .00021 Final MF = .00114 Finance pymt = $173.80 Total Monthly pymt before tax = $985.77 Tax on Final Pymt = $985.77 x 8% x 36mos = $2,839.02 Tax on Cap red/options credit = ($4850+4200) x 8% = 724.00 Total Tax = $3,563.02 Apply my tax payment above $2250 Remaining tax = $1,313.02 Cash Breakdown - Cap Reduction - $4850 3 MSDs - $3000 (refundable) Tax - $3563.02 1st payment - $985.77 Dealer Fees - $369 State reg - $350 Total Out of pocket = $13,117.79 ($3000 refundable) Total Monthly Pymt = $985.77 Unless I'm missing something, the swap would be about $3k less upfront assuming you paid similar costs upfront and save about $100 a month. Thank you for looking.
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11-29-2012, 10:56 AM | #2 | |
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In my humble opinion you will be better off sticking to your original car. There is no way anyone will want to pay you $10K and take over a $900 lease payment. If you really want out of this lease you should be pricing it a lot more aggressively and eat the out of pocket costs (Except of course the MSDs which you can still demand at the end of the lease) Typical incentives in these situations for leases that are actually transferred to a new buyer has ranged in the $5K - $8K range. Good luck! |
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11-29-2012, 11:40 AM | #3 |
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Thank you, canthony. I understand your point. But after only having the car for 5 months I don't think it's unreasonble to try and recoop some of those costs. I guess that's why I laid out the scenario of buying a '13 with the same money, it's still cheaper to take over my lease. I wouldn't eat $8k in costs after driving a car for 5 months. And I dont think you can find a $900 lease today even with that much out of pocket. You're right though, I may have to hang on to it....Thank you!
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