Quote:
Originally Posted by BMWCali
Really? Can anyone verify?
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Yes, that is true. It is an additional .00030 for ED because you don't make your second payment. You still calculate your payments the same way and by 36 months but you don't pay the second one.
To answer your other questions, the bank fee is because it's a lease. I don't think you can avoid it by paying in full.
The security deposits are your monthly payment rounded up to the nearest $50. I don't know if that is before or after tax. Worst case is that it is after tax and with a calculated payment of $764.38, your deposits would be $800 each ($5,600).
The residuals for sedans went up to 63% for 10k mile leases in May (just announced yesterday afternoon, see link below). If you used April's, update it and it will reduce the payment a little.
http://www.m3post.com/forums/showthread.php?t=525614
Do you have an iPad? I made a spreadsheet in Numbers to calculate lease payments for the E90 M3 on European Delivery a couple months ago when I was trying to decide between leasing and financing (I decided to finance). You're right, calculating leases is very confusing. I was able to get within pennies of the dealer quote I got so I'm pretty confident I have it all figured out. I can clean it up and send it to you if you'd like.
Some additional advice: After you have a good estimate of the payment, you should contact a dealer for a quote and fill out the credit application. If you get approved, find out from the dealer what the money factor and residual value is. Don't offer to pay up front or put down money to reduce the cap cost unless you have to. Keep your money in the bank and use it to make your monthly payments. Or after the lease starts, pay as many payments as you want in advance.