Quote:
Originally Posted by red-beard
OK, here we start:
The "lease offer" for the car I would like is ....
Where would that put your "rate" ?
I want to get this to around $300 per month. The SUV I plan to turn in will probably get me around $10K, so I can put an extra $5000K
The specific car is a 328i Wagon, List price is $41,650
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The rate can't be extrapolated based on just those numbers. How much of the $$ due at signing is acquisition fees or security deposits?
There's $17589 in straight depreciation from MSRP, so the 36 month residual is 59% of MSRP at 10K miles per year. It's probably 58% at 12K miles/yr and 56% at 15K miles/yr, IF you'd like a cushion for miles and a greater write-off. In other words, you'd pay an additional $1287 (3% of $42900) to bring the car back with 45,000 miles rather than 30,000 miles. That's $0.085 (8.5 cents) per mile. And you have a purchase option of $24024 ($1287 less) regardless of the miles acutally on the car.
If the car you're interested in is $41650 and the 36 mo residual is 59% (@10K) then the residual on 'your' actual car would be $24574.
If you can save 10% off MSRP, you are paying for roughly 30% of MSRP for your 36 months of use (principal only). So if you paid $37485 and had a residual of $24574 your PRINCIPAL-ONLY would be $359 per month. You need to add tax and interest, and any fees. You only need to pay your first payment, security deposit, state fees/lic, and acquisition fees up-front. Anything else in cap reduction and goes to lower the lease payment/principal.