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Prices Paid: Buying & Leasing Experiences BMW 3-Series Prices Paid and Buying Experience
10316 messages, Last post on Dec 05, 2009 at 12:11 PM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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Replying to: nyccarguy (Jun 07, 2005 7:18 pm) |
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Replying to: blueguydotcom (Jun 07, 2005 9:03 pm) |
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| Take documentation if you like. I feel that the dealer will always try to screw you but if you have a set price on the car you're now negotiating on one thing: trade-in of your car. If you let them know you're financing or trading in before you establish the car's price you're at a disadvantage...they'll throw numbers from 3 areas then. | |
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This....."don't tell them that you have a trade-in" doesn't put you in a better position. Just let the dealer know that what you want is a difference figure. Your vehicle plus "X" amount of dollars. The value of the trade isn't going to change any no matter what sort of lame or brilliant tactic that you come up with. Numbers are numbers. You may get a better deal with a trade actually. Especially, with a nice retail piece like you have in the RX. The dealer needs trade-ins and would rather be getting a nice retail piece in addition to the new car retail..... Arrive at a target difference figure by calculation of a fair retail figure minus the fair wholesale trade value. If you don't retail the Lexus beforehand call a few Lexus dealers and ask them for a "bid to buy" on it. Let them know that you've got new rubber, a fresh detail, and a clean history. Tell them that you're going to get a few bids and then you'll drive it by for them to see it. That's what the dealer does a lot of times anyway. When you go to show them the RX tell them that you're ready to sell it right then if they are willing to stretch a little and try to get a little "bump". This sounds like fun, doesn't it? |
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I am thinking of purchasing a 2006 325i and I was wondering if anyone can tell me how to calculate what my owners choice payment would be? Are they figured out just like a lease? Any help would be greatly appreciated. Thanks! |
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Your vehicle plus "X" amount of dollars. The value of the trade isn't going to change any no matter what sort of lame or brilliant tactic that you come up with. Numbers are numbers. Numbers aren't numbers. As usual I couldn't disagree more. What the last guy got really isn't a reflection on what you should expect - whether that's a purchase or a sale. Edmunds' TMV is a joke because too often people are looking for the deal that the average person gets. Do you want to be in the 50th percentile? You sure don't with your salary, so why would you want to pay what 50% of the population pays? A car salesman doesn't want to net the average of what the other guys at his dealership gets...he wants to be the trendsetter. Same goes for savvy buyers... If you tell a dealer from the start that you have a trade-in he will know he's got a lot of room to play. Just like if you tell him you're financing they can start in with "what kind of payments do you want to make?" line of negotiating that is totally slanted in the dealer's favor. Negotiate the price of car. If financing, then secure it ahead of time and see if the dealer can beat it (such as BMWFS special financing of 2.9% for x months). Know the numbers as dealers always try to tack on a fat profit for themselves. My dealer wanted .0006 extra on the MF on my lease. We went round and round until it was 0.0001 over the MF buy rate. I was damned if they were gonna make more than a 1/4% interest on my payments. Same with apr though...don't let them fudge your numbers. In LA Toyota and Honda got in trouble for tacking on massive extra points when they'd finance immigrants and minorities...they were literally robbing unsuspecting/uneducate people. Obviously if it's a lease, then no trade-in as you put as close $0 down as is humanly possible when leasing. If you got a trade-in, know the car's wholesale and kdd/edmunds/nada values. KBB/Edmunds are pretty much pipe dream numbers but still aim for higher than that. Spring the trade-in on them. You're doing the dealership a favor even bothering to look at them. They're there to rob you blind - it's how they stay in business - so don't fall for the whining about profit, fairness or feeding kids. If your car is even halfway decent they'll suck it up, do some basic rehab and then jack up the price 4k over what they paid you. Maybe more. Personally, reselling yourself will be the most profitable and it's not really that hard. Get a detail, run a carsoup ad and the car will sell (generally). If not you can always resell it later to a dealer. An RX trade in v. RX off the dealer lot means a gap of thousands and thousands. Would you rather an extra 2k on your RX's trade? Spend $150 on a detail and $30 on a carsoup ad. It'll sell.
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Replying to: blueguydotcom (Jun 07, 2005 9:01 pm) Sounds nice. I will wait and see how it looks. 310 is alot of POWER! OMG!!! AMT- |
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Replying to: 100grandman (Jun 08, 2005 7:31 am) Yup! It will be different. I hope you get the Bimmer. After you buy it, please post here. As for the Lexus you want to trade, best to start researching the price of sale for 3rd party. KBB is a good place to start. Good luck. AMT- |
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Replying to: blueguydotcom (Jun 08, 2005 3:53 pm) Not one time did it make a hill of beans difference whether the client told us he had a trade from the outset or right before they left. It doesn't matter if you're smart, dumb, tall, short, fast, slow, Jewish, Baptist, white, yellow, immigrant, immature or impotent.......whatever. The car is worth what it's worth .......... that's it. You villify the dealer for playing games and then you go in the dealer and play games? You just come off as a jerk and reduce your chances of getting maximum flexibility when negotiating. It's not like these BMW's are distressed merchandise and we're begging for deals because we can't get rid of them. Be smart, be nice and you'll get great results.
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Replying to: virtualbmw (Jun 09, 2005 9:18 am) that's it. Well that's a total contradiction with the experience of many people and of course with many written reports. I believe it was Edmunds that had a guy go undercover as a salesman for months. He reported that dealers often play games and will bump up or lower trade-in values based on the negotiating on the payments, down payment and price of the new car. The 4 square is the great shell game for befuddling buyers... You say you guys don't massage trade-in values but how can anyone believe that? Do you sit people down and show them a kbb or black book breakdown? No. A guy goes out, takes the car for a spin and then comes back and says "we'll pay you X for the car." it's a number pulled partially from values and also from what the dealer thinks people will accept. So the average 3 year old 330i is trading for 25k, but you sense this guy is just so in love with his 06 3 he won't notice if you guys say 24k. If he doesn't accept it, you can haggle a bit and then come to 24.6k. He feels satisfied and manly, you guys walk away with the possibilty of more profit on the used car. That's the game., Numbers are whatever you want to make them. You villify the dealer for playing games and then you go in the dealer and play games? You just come off as a jerk and reduce your chances of getting maximum flexibility when negotiating. I don't trade-in. You get ripped off. Thousands of dollars thrown away and even worse, thousands given to a dealership. I negotiate price. If it's a lease, then MF is the next step. If it's a loan, I have a loan before stepping into the place. I have my downpayment, ideally a credit card so i get FF miles and I know the current rates the dealer has. It's not like these BMW's are distressed merchandise and we're begging for deals because we can't get rid of them. They are distressed and you are begging for deals. The 330i had a 4200 incentive on it for months. The 2.9% financing seems to always be around. This isn't 1996 where people paid sticker on a bimmer. Those that still pay sticker on these cars are getting taken for a ride (this forum exists to help avoid that). The X3, Z4 and 5 aren't barn burners in the sales department. The x5's so long in the tooth it gets excited when it sees Cloris Leachman. Be smart, be nice and you'll get great results True, true. Always be pleasant, make jokes, and have a good time. But never, ever, forget they're there to rob you blind. And if you let your guard down you'll leave the dealership with a 10% loan, $2k trade in on an 03 bmw and an msrp priced car equipped with underocating, scotch guarding, lojack, an alarm and maybe an lcd mounted in the trunk "pimp my ride style".
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