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Agreed with above statements.
Lease price is based on 3 factors:
1) Negotiated sale price of vehicle
2) Money Factor (which is just another name for interest rate.) To understand what the money factor is, multiply the number by 2400 and that is the interest rate. (Ex. Money Factor of .00238 x 2400 equals 5.712 interst rate.)
3) The residual. The less the car is worth at the end of the lease, the more it costs you in lease payments. So you want a car with a high residual. A high residual is usually anything over 60% for 3 years. Anything below that is borderline or very bad.
And I also very much agree with Gresch. You never want to buy down your lease payments. Ask for MINIMUM DRIVE OFF. Which means, you pay your first months lease fee, your tax for that month, the title fee, registration fee, lease acquisition fee, etc. It is usually an amount that equals a little more than 2x the monthly payment. For example, a $500 monthly payment car should have about a $1000-$1200 minimum drive off.
Even if you trade a car in. Get cash for the car, don't use it to buy down the lease payments.
Also, check with lease compare as stated and find out the prices BMW Financial Services charges on the money factor, lease. Don't let the finance managers tell you. Do your own research. Finance managers are not there to help you. They are there to sell you a product for which they are earning HEFTY fee's. They are buying rates from banks and selling them to you at a much higher rate that they then split with the dealership.
If they don't overcharge you for the loan, they don't make any money. So go directly to the bank or lending institutions for a lease. Finance managers are scum and they don't tell you that they are not working for you and padding your loan with points.
b
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"When two people agree on everything, one of them is not necessary" - Arliss
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