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Barry said:
How much would the tax be? My dealers #'s were higher for the 36month, makes no sense to me. But it seems like I should re-check with him.
What money factor is good or bad I've seen here 3.1% and a dealer friend of mine (LA) says theirs is 3.35%.
Bottom line as he says, the dealer needs to make their buck (as if they don't) so if you get charged MSRP they will get more out of the lease if they charge over (as his dealership is doing - $15k) then they can give you a better money factor. This will be my first lease so I'm pretty clueless.
Sales tax is 8.25% in San Mateo county--not sure about Santa Clara county.

The money factor (0.0031) is not an interest rate (or it would be 0.31%!
). It's the lease money factor--multiply by 24 to get interest rate (7.44%).

You should ask for the print out from the BMW lease system so you can see all the moving parts.
 

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m_five said:
Sales tax is 8.25% in San Mateo county--not sure about Santa Clara county.
In Kentucky, you pay 6% sales tax on the entire lease payment, which means you are paying an additional 6% tax on the interest and other financed goods (gas guzzler, transportation, etc.) This is why I have previously leased with a single, up front payment for the whole lease. I only pay sales the on the amount of the lease payments. I can then invest the paymnets I would have made over the period of the lease. This is about twice the out of pocket payments in "taxes" as a purchased car would be taxed.

My only problem with this arrangement is whethrer the gap insurance covers ME in the event of an early loss. Since no money is financed, I would lose the equivalent monthly payments on the remainder of the lease if it doesn't cover this.
 

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m_five said:
Sales tax is 8.25% in San Mateo county--not sure about Santa Clara county.

The money factor (0.0031) is not an interest rate (or it would be 0.31%!
). It's the lease money factor--multiply by 24 to get interest rate (7.44%).

You should ask for the print out from the BMW lease system so you can see all the moving parts.
I should get the print out, thanks. I do know the % sales tax here but I was unsure about what % of the cost of the car is taxed and what does that mean in $/month. I bet I could figure it out if I stopped to think but.........
(more like Digi's info, although how much $ are you really saving by paying the lease in full up front?)
 

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Barry said:
I should get the print out, thanks. I do know the % sales tax here but I was unsure about what % of the cost of the car is taxed and what does that mean in $/month. I bet I could figure it out if I stopped to think but.........
(more like Digi's info, although how much $ are you really saving by paying the lease in full up front?)
You pay sales tax on the monthly lease payment, and also on the cap cost reduction.
 

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Remember there are other lending banks that do leasing.. Someone posted a reply earlier this year on bank leasing with better money factors than bmw na.


check with the big banks and leasing company.
 

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Digi said:
In Kentucky, you pay 6% sales tax on the entire lease payment, which means you are paying an additional 6% tax on the interest and other financed goods (gas guzzler, transportation, etc.)
in BC, Canada. we have to pay 17% taxes on the payment. hmmm anyone want to lease the car for me there? i will pay 5% on top. :p

i put $20,000 down on my 645ci and pay $1530 including taxes a month for a 36month lease. so that's US$16946 downpayment and US$1313 a month at today's exchange rate. :crying:
 
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