Quote:
Originally Posted by snk
I have a spreadsheet model that I bring to the dealer. Dealer likes to play around with the numbers on leases to confuse you. Whenever I call their tricks, the most common answer is "oh I'm not even sure how leases works"
Anyway, here's what I usually have on my spreadsheet.
Price of car
Downpayment
Money factor
Residual
Depreciation
Term
Monthly payment:
First negotiate the cost, then ask for $0 down, then negotiate on the money factor. Residual are typically set by BMW.
Hope this helps.
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Yes, this helps a lot actually.
Could you provide me with a source for how to compute these numbers? I have no idea what residual value etc. even mean.