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By attorneydavid

Recently having undergone the difficult path of leasing a spiffy new BMW (Gray and even has a little fin), I thought I'd share a little guide.

The first step is of course to decide if you want a BMW. There are many other fine models out there like audi, mercedes, and potentially lexus those I've always found those to lack headroom.

Then go to edmunds and look in the prices paid forum. You want to figure out the money factor buyrate (essentially the interest rate) and also the invoice price for the model you want and the depreciation factors used.

The place you test drove it (RS) will come back with some offer at or slightly above invoice and double count the document fee and keeping any customer cash offered that month. (Initial Offer 830 /month for a 24 month lease and 12k miles a year with 1500 down.)

Then you call around to various dealers in the mid-south offering to fly out there if they don't rip you off. Get them to agree to a certain amount above invoice, keep the customer cash, and you might be able to get them to throw in delivery.

Once you get someone to agree to all the terms you then have to go to an online lease calculator where they will tell you the figures work out to say 730/month and as you go over the calculations the figure will drop to 640/month or so as you make sure all the calculations line up and they try to make you think the calculator isn't including sales tax and what not.

Then go put your downpayment down and get your new BMW. (Final 680/month every month for 15k miles a year, yes that's nearly a 4k saving over the first offer).

The best way to do it is to plan several months in advance so you can order the car with exactly what you need and have all dealers on an even footing. If I had done that I'm pretty sure I could have knocked another 500 off easy. (However, instant gratification is nice. )

Good TV Series

Recently hooked up Amazon Unbox and started watching Chuck and 30 rock which are some of the funniest shows I've seen in recent memory.

Full post as published by My Memphis Attorney! on February 18, 2008 (boomark / email).