Hi,
I got a lease quote below for 2006 530i -- $624.68/month.
Can you guys let me know if this is a good deal and point out if any unnecessary charges are added? As you can see, I am new to leasing so any feedback is appreciated.
2006 530i
Automatic
Sport package
Premium package
Cold package
Metallic paint
Navigation
Price: $53,336
MF .00195
Residual 62%.
36 month/ 12,000 miles a year
$624.68 FIRST MONTH
$2500 CAP RED
$209.38 TAX ON CAP RED
$60 PLATES
$650 REFUNDABLE SECURITY DEPOSIT
$625 BANK FEE
$149 DOC FEE
$1883.41 SALES TAX UPFRONT AT 8.375% NY.
Quote:
$624.68/month with $6,701.47 due at signing
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| Reply » 2006 530i lease quote |
With the $2500 cap. cost reduction, your monthly payment is in reality $694.12.
I leased a 2005 545i last month for $673 per month(MSRP $60,000) with no cap. cost reduction at 2.4% interest as opposed to your deal at 4.68% interest but that was on an outgoing model. The base money factor for the 530i should be at 0.00175(4.2% interest).This can and should be negotiated down from 0.00195(4.68% interest)
So I would have to say you could do a little better on a 530i. Don't let them get away with the high money factor! 
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| Reply » 2006 530i lease quote |
MF is .00175 Base Rate What's Invoice amount? Pay XXXX over and .00175 and u got your deal. OR do A ED and save even more 
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| Reply » 2006 530i lease quote |
You shouldnt have to pay a security deposit, this can be deleted if you insist.
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| Reply » 2006 530i lease quote |
I thought the security deposit was added into the down payment?
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| Reply » 2006 530i lease quote |
NY is a goofy state when it comes to leases. They have some rules that most other states do not.
Dont pay security deposit!
the base rate is .00175 - make them come down on that
That sucks you have to pay those taxes upfront. other states charge them on the monthly payment.
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2006 530i lease quote