02-18-2015, 10:55 AM | #1 |
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2015 Demo xDrive28i Lease
I did post this question in another thread; but realized that it was probably in the wrong thread. Seeking some guidance from more expert leasers on the following:
I terminated my lease early (demo which had 7500kms initially on it 2012 xd 28i X1 base model - no charges, last 5 payments to be covered by the Dealership) and upgraded (so they say) to A black on black demo with 2500Kms 2015 xd 28 X1 $36,990 loaded with the following options ZSL Sports Line $1,900 ZVK Executive Package $1,800 ZVR Technology Package $2,500 ZXW Lights Package $1,200 Full Price of Vehicle = $44,390 Demo Discount $1,800 Total Cost = $42,590 (excluding 13% Tax) Lease Rate 1.9% Monthly Lease $585 (Incl Taxes), zero down, 48 months 16k Kms per year. Over 48 months I will end up paying $585*48 = $28,080 Initial payment = $1732 (admin fees, registration etc) including $600 refundable security deposit Cost of Lease = $29,812 - $600 refundable security deposit = $29,212 Residual Amount = $22,400 At end of Lease Purchase Price = ($22,400 + Admin Fee $900) * 13% Tax = $26,329 Assuming I have money to buy this vehicle outright at the end of my lease without any financing (yeah right) total cost of the Vehicle = Lease Cost $29,212+Outright purchase price $26,329 = $55,541 Is this even a deal or did i just (un)knowingly bent over without any lube in hand? I should mention that I can write portions of the lease cost (appx 30-40%) as business expenses. Last edited by zeiesfirdaus; 02-18-2015 at 12:57 PM.. |
02-18-2015, 01:34 PM | #2 |
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Buying at the end of lease is almost always a bad idea for a BMW. The reason is that BMW residuals are unrealistic. You will do much better buying a CPO vehicle with similar conditions and lower mileage.
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