10-28-2019, 08:04 AM | #243 | |
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if you did your app already i'm pretty sure you can just get the better rate
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10-28-2019, 05:17 PM | #244 |
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Current deal:
MSRP: $61,820 DAS: $1,300 $630 a month tax included I sent this dealership an offer that I had and they came back with this. I asked for a breakdown of everything but they said they wouldn't send it because they don't want the deal shopped around. It seems a little too good to be true. |
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10-28-2019, 07:37 PM | #245 | |
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10-28-2019, 10:24 PM | #246 |
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10-29-2019, 07:29 AM | #247 | |
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I know you mention DAS is $1,300. Any thought to putting down some security deposits?
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10-29-2019, 10:19 AM | #248 |
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10-29-2019, 12:14 PM | #249 | |
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I know someone mentioned the security deposits down, but I'm still not 100% clear on how they work on the advantage it would give me. |
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10-29-2019, 12:16 PM | #250 |
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Essentially it lowers your interest rate on the loan (in lease terms it's the MF). lower interest rate = lower payment. You get your deposit back at when you turn in the car
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10-29-2019, 12:21 PM | #251 | |
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As for security deposits, they help reduce the money factor, so you pay less in interest over the life of your lease. So if for example, you placed the maximum # of security deposits down, your money factor would go from 0.00128 down to 0.00093. Security deposits are 100% refundable (unless you default on your payments). Think of it as a guaranteed, no-risk rate of return on investment in the form of lower lease payments. Technically if you took that amount and invested it in a good mutual fund, you COULD potentially make more, but security deposits are 0 risk.
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10-29-2019, 02:04 PM | #252 |
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Planning to go for BMW 330i with Premium and Executive packages, First time leasing a car. Dealers have something in inventory(Other than Med Blue) with my options but I'm looking for Med Blue. If i order can i negotiate the price with the dealer?
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10-29-2019, 02:40 PM | #253 | |
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So if I placed the max amount of security deposits down then would it eliminate my DAS? Also what is the max amount allowed? |
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10-29-2019, 03:17 PM | #254 | |
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DAS should only be first month's payment, any security deposits you put down, and any applicable dealer/govt fees. Typically it doesn't make much financial sense to put money down to reduce the cap cost. As for security deposits, BMW allows for a maximum of 7. The way they're calculated is by taking your final monthly payment, rounding up to the nearest 100, and then multiplying that number by 7. So if your monthly payment for example was $560 with max security deposits, then the total amount of security deposits would be (Round(560) = 600) * 7 = $4,200. So your DAS would be first month's payment $560 + max security deposits ($4,200) + applicable fees. However since you get that $4,200 back at the end of the lease, you can think of it as a no risk investment.
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10-30-2019, 03:53 PM | #255 |
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I hear OL codes extending to dec 31, any accuracy in that? Mine expires tomorrow and I m not decide on what I will get
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11-01-2019, 01:17 AM | #258 |
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11-01-2019, 01:56 AM | #259 |
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11-01-2019, 03:10 PM | #260 |
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Updated with November 2019 rates.
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11-01-2019, 04:51 PM | #261 |
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What is MF at?
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11-02-2019, 10:42 PM | #263 |
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Guys you can check Edmunds forums for info like money factors. Looks like for November they're unchanged from last month at 0.00128.
https://forums.edmunds.com/discussio...and-prices/p15
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11-02-2019, 11:32 PM | #264 |
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Yeah... I'd be curious too, for info regarding any extensions on the OL Code.
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