Lease Advice, I don't trust the Dealership.

Hey Everyone I am trying to get into a 2018 i3 Rex with a 24 month lease. I have a small concern in the leasing terms that do not sit right with me and I would like the forums opinion.

The MSRP is $57,500
The dealer is contributing $5,000 to MSRP cost
Total credits applied are $10,500 (Loyalty, BMW Lease credit, Promo OL code)

Therefore the Capitalized cost (price they are leasing the car) is $42,000
The residual is 64% of MSRP which is $36,800
The leftover depreciation cost is $5,200 which works out to be about $216.67/Month + MoneyFactor interest

The monthly should be around $217/month plus the taxes, bank/doc, fees upfront at signing, no cap cost reduction. That amount is about $3,200

fyi the MoneyFactor is .0016 or about 4%

Now where it gets weird is the manager at dealer was telling me that there is an Amortization Cost that has to be factored into each monthly lease payment. That is calculated by adding together Capitalized Cost (42,000) + Residual (36,800) then multiplied by the MF (.0016) per month!

An additional $130.81 per month! :shock: is this normal?

I called bmw financial they said sorry we don't know anything talk to the dealer. Then I request the lease worksheet and was told that they don't print those out.

I haven't followed residuals lately buy 64% seems high. Dealer discount of 5K seems too low....
I've never heard of an "Amortization Cost". I'd say try another dealer.

Edit: Just checked the Edmunds web site and this was the April deal:
.00156 MF and 64% residual
$7500 lease credit

So, 64% seems correct.