Hi all,
I signed a lease for a 330 with CWP and satellite and I think I got a good deal but want to validate.
The sale price is 37,200.00 which is 900.00 over invoice. The monthly payment after a total of 5k down for a 3 yr, 36,000 mile lease is 471.00 including tax. The MF is .0025 and the residual is 61% (compared to 63% for the 325) which amounts to 23,830.00
How does this compare to other deals people have seen?
Also I've read on other posts that putting a down payment on a lease is not a good idea. I would appreciate it if anyone can tell me why that is the case and what are their recommendations.
Thanks for your input!
(I may go still go in for the 325 but will post that question separately)
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| Reply » 330 Pricing and Lease Questions |
I never put down money on a lease because money down does not apply toward your buy out figure - it only reduces the amount of your monthly payment. To me that's not a good value.
Everyone's situation is different, but I would rather hang onto the cash and be liquid and deal with the higher monthly payments.
To each his own.
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| Reply » 330 Pricing and Lease Questions |
In other words, think about Leasing as renting. You don't actually build equity or anything when you reduce the capitalized cost of your lease (putting money down). The ONLY benefit is reducing your monthly payments, and that's not really even a benefit because you've already forked over $5000 up front. Why do that? I think it is in you best interest to NOT put any or the minimal amount of money down. It sounds like you have already negotiated the price, so I'm sure you're not locked into the $5000 down.
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| Reply » 330 Pricing and Lease Questions |
Quote: Hi all,
I signed a lease for a 330 with CWP and satellite and I think I got a good deal but want to validate.
The sale price is 37,200.00 which is 900.00 over invoice. | I have US invoice on a base 330 as $33,215. Add $910 for CWP, $75 for sat prep, and $540 for sat radio and you get $34,740. Pricing is tricky because I don't know what else if anything you are including in the deal. But if I'm not mistaken at this amount you are $2460 over invoice.
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| Reply » 330 Pricing and Lease Questions |
I think if you're going to ask if $900 over invoice is a good deal then YES! It is!
For us to double check your numbers it would be helpful to list EVERYTHING...including the color becasue that's a $430 charge if it's metallic paint. Destination is $695....transmission is manual or auto? You get my drift. Give us all the specs...it makes it easier to help you.
I agree that putting $5000 down on a lease is not a good idea....it's nice to have lower payments but you should consider banking that money and drawing off of it if you need it. Many have remarked that if the car is totaled or stolen that you are less likely to recoupe this cap reduction.
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| Reply » 330 Pricing and Lease Questions |
Do NOT put money down on a lease. Sure you will marginally lower your monthly payment, but will lose that money should the car be declared a total loss in an accident. Most, if not all leases incluse GAP insurance. That insurance will pay the difference between the appraised value of the car and the insurance settlement.
If you put $5000 down on a lease, and the car is totalled. Your down payment has just paid the balance the GAP insurance would have paid, and you have lost most, if not all, of your down payment.
The only time paying money on a lease makes sense if in the setting of additional security deposits in order to lower the money factor. In this scenario, you will get this money back at the end of the lease (as long as car is returned in good condition) and you will lower your monthly payment slightly due to the lower "interest rate".
Michael
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330 Pricing and Lease Questions