Would like some feedback about your leasing experience with BMW. What about the mini.com payment estimator in regard to leasing is it accurate? I have never leased before considering 15,000 miles per year for 36 months. Is sales tax added on to your monthly payment? Thanks for any information anyone has on this subject. :smile:

 

The miniusa lease calculator is way off. it was telling me 360 per month. I sat down at the dealer and when he said 525 i nearly passed out. got a seven year loan at 7% 450 a month.

 

Hmmm, my lease is only $307/month + tax ($22) for 42 months with $500 down. Sale price was $20k. Are you sure they weren't selling you a 3-series?

 

Seriously! I'm considerably under $400 for a 36 month lease with 18k miles a year with taxes paid upfront. My MCS lists at $24425!!!

They're ripping you off! :evil:

 

>>The miniusa lease calculator is way off. it was telling me 360 per month. I sat down at the dealer and when he said 525 i nearly passed out. got a seven year loan at 7% 450 a month.>>>

I hate to tell you this

 

My lease is going to be 290 a month, 2500 down for 36 months, 12k miles a year. MSRP is about $ 22,000. I had them take out the security deposit and I am paying taxes up front. This car has a 60% risidual value which is really good. Can't wait till I get it in Jan.

 

I used BMW Financing. Paid $24,450.00 + tax tag and title. Car was a little over 26k. Leased for 36 months 10k miles and $4000.00 down. Payment is $295.00 a month including tax. I know your saying 10k a year for mileage? Its a weekend car and if I drive over 5k a year I will be surprised. Thank God for company vehicles.

 

>>My lease is going to be 290 a month, 2500 down for 36 months, 12k miles a year. MSRP is about $ 22,000. I had them take out the security deposit and I am paying taxes up front. This car has a 60% risidual value which is really good. Can't wait till I get it in Jan.
>>>>>>

I believe the residual is actually 63%!!!

 

My dealer got me a better lease rate then Mini/BMW from Chase Bank. MCS Price 25k, 3K out of pocket,$360 month 36 months 15k miles per year.

 

>>My dealer got me a better lease rate then Mini/BMW from Chase Bank. MCS Price 25k, 3K out of pocket,$360 month 36 months 15k miles per year.>>>>

BMW beat that for me. Lower payment and 18k miles per year. ALSO - I was very surprised to find out - that unlike other leasing companies and agreements, I get a CREDIT for unused miles!!!

 

This car has a 60% risidual value which is really good.

>>I believe the residual is actually 63%!!!

Please help me out here - a *higher* residual value speaks well of the car, but doesn't it mean that you will pay more if you decide to keep the car?? A 50% residual means you can sell the car for more (say 60%) and pocket the difference, or buy it yourself and owe the dealer less at the end.

I leased from MINI ($249/mo 15K/yr for 3 years) thinking "if it's a gem I'll buy it, if it's a dog i'm out of it" in 3 years. The tremendous appeal of the car probably means I could sell it for better than 60% in 3 years, but I personally would be happier if it were 50%.

 

>>
>>Please help me out here - a *higher* residual value speaks well of the car, but doesn't it mean that you will pay more if you decide to keep the car?? A 50% residual means you can sell the car for more (say 60%) and pocket the difference, or buy it yourself and owe the dealer less at the end.
>>
>>I leased from MINI ($249/mo 15K/yr for 3 years) thinking "if it's a gem I'll buy it, if it's a dog i'm out of it" in 3 years. The tremendous appeal of the car probably means I could sell it for better than 60% in 3 years, but I personally would be happier if it were 50%.
>>

On a lease you basically pay for depreciation and interest on that depreciation. So if it only depreciates 60%, your lease payments will be A LOT lower than if it were 50%. If you're going to lease then buy, you're going to end up paying about the same either way. If your residual is high, your lease payments will be lower but your buyout will be higher. If your residual is low, your buyout may be cheaper but your lease payments will be a lot higher. So you're better off with a higher residual creating lower lease payments b/c if you DON'T buy the car you'll save a lot of money, if you do, it doesn't really matter.

 

Higher the residual the higher the buyout. It has its good points and bad.