Quote:
Originally Posted by premier3is
Probably because it's got 4300 miles on it.
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Right.... but that's why he's getting 21% off. If it had 0 miles on it then 10% is the standard "good" deal.
Look at it this way, 58% is the residual at 15k miles per year. Understanding that depreciation is inversely logarithmic, for the purposes of this, since residual is pre-determined, we can use a linear calculation.
So with that assumption, this means every 1,071 miles, the car depreciates 1%. At 4,300 miles, the car will have depreciated just over 4%. However he's getting an additional 11% off on top of the standard good deal of 10%.
Typically with a BMW loaner, people (people being the leasehackr community) advise to target 15-16% off for a good deal.