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Originally Posted by mumper
Trading in the M3 for 45k, they pay off my remaining 18k on it and cut me a check for whats left minus my drive off on the new lease. Drive off on the new lease is just the MSD's, DMV and Docs. Leaves around 20k that I get back as a check from the trade in.
Does that make sense?
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You are getting a good deal on the selling price of vehicle at 10k off. But they are ripping you off on the money factor and residual. The residual for a sept 2012 lease on 550 with 10k miles a year is 59%. Also money factor is .00145 but since you already own a bmw you qualify for .00030 off the MF for loyalty. So that's .00115MF
So after my calculations you should be paying 708 month not including taxes and fees. Normally you'd just pay that upfront. I don't know what tax is where u live but just multiply it by 21,648.24 which would be your depreciating amount. As for fees should be
725 acquisition
320 (or so) DMV, tags
75 documentation
If u want to get the good deal you need to be firm with what you know. Dealers will weasel you into their trap by showing you an attractive price yet screw you with their made up fees and other crap you don't know.