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Prices Paid: Buying & Leasing Experiences BMW 3-Series Prices Paid and Buying Experience
10327 messages, Last post on Dec 08, 2009 at 11:04 PM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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I'm hoping to get an opinion regarding this situation from one of the hosts of this forum. On April 8th, I closed on a new 2006 330xi lease through BMWFS. In reviewing the lease document, the effective date was listed as being 3/31/06. When I asked the finance rep about this, he indicated that "BMW had already applied this lease to last month's business." As part of the required up-front money I paid the first month's payment up front. Yesterday, the 20th, I received an invoice for the second payment which I've gone ahead and paid. I don't want to sound petty, but it has not set well with me knowing that the "first month's" payment covered about 20 days. Dating the lease as though the deal was closed 10 days earlier was done to benefit BMW (or maybe it was the dealership that benefited and the finance rep just blamed BMW in an effort to shift blame away from the dealership itself.) To me, this is not that way that a dealer, auto manufacturer, and finance institution should start a relationship with a new customer. Question -- do you think that I have any recourse in this situation. I am a reasonable person, I just want fair treatment. Thanks.
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Replying to: tendres (Apr 21, 2006 6:34 pm) Good luck. I too really love the old e46 styling, but feel it looks dated.
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Replying to: raln48 (Apr 21, 2006 6:50 pm) I think it benefitted the dealership by punching it March 31. They must have needed the sale to make some bonus. |
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Replying to: tendres (Apr 21, 2006 6:34 pm) Generally, $2K is about the biggest discount I've seen on a 3-series vert.. It is spring, and that is when prices firm up for them.. I agree about it being an old body-style, but since there is no alternative right now (six months or more for the new one?), I don't think it will affect new pricing.. Is the 2.9% financing good on convertibles? That is a big bonus.. I also doubt you can do significantly better... $500-$1000 more would probably be all of it.. (I wish I had the performance package..  ) regards, kyfdx
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Replying to: raln48 (Apr 21, 2006 6:50 pm) 1) You are being cheated out of ten days use of the car... Relatively minor... about $200 2) The 330Xi lease money factors dropped in April.. They could have given you a lower money factor.. This could be a plan to squeeze some more profit out of your lease... Or, it could just be a bookkeeping/sales deal for them.. I guarantee you that the deal didn't have any extra benefit for BMWNA or BMWFS... If anyone made any extra money out of it, it was the dealership and/or your salesperson.. I think you definitely have some recourse... First, I'd go to the sales manager, and tell him that you have a problem with the lease being dated 3/31/06.. and that you want it re-written for April 8th.. They will probably say that they can't do it, yada, yada, yada.. If so, tell them you think you've been screwed, and you are going to the general manager of the dealership.. If nothing happens, then do exactly that.. If nothing comes of that, then call BMWFS directly, and ask to speak to a supervisor or manager.. Tell them you've been the victim of a fraud, and that your lease paperwork was back-dated.. They are very touchy about those things.. All this is sort of vague, so here is what you should be looking for... 1) If you are just losing ten days of use, that is about $200. 2) If you missed out on the .0003 reduction in the money factor from March to April, that is about $20/mo. or $720.. 3) If they then marked up your money factor the maximum .0004 that BMWFS allows, that is another $27/mo. or $972. What you really want, and are entitled to... is 1) and 2).. If you really rock them back on their heels, and you are pretty certain they marked up the money factor, then go for 3) also.. My guess is the sales manager is going to offer you 1) to make it go away... If you don't want to mess with this whole deal, you can take it and stop right there.. We aren't talking about breaking the bank, either way.. This won't be fun... Don't call anyone a cheater or liar, until you absolutely find out the dealership won't work with you.. Even car dealers like to save face.. Do you know what money factor was used? The base money factor in March was .00225.... In April, it was .00195.. The dealer can mark it up by .0004 over these numbers, and if you didn't make a security deposit, the number is .00015 higher.. Hope some of this helps... looks like I rambled a little.. regards, kyfdx Host-Prices Paid Forums
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Replying to: mattr82 (Apr 21, 2006 7:43 pm) It's not a 330ci... it's the 330cic (convertible). Right now is prime convertible season. As a result, you can't expect huge discounts, as demand is high. As far as styling and engine goes, the new convertible styling and most likely engine won't be out for another year. The coupe is out this fall, but the convertible won't be out until the spring.
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Replying to: bdr127 (Apr 22, 2006 6:18 am)
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I live in TX and have been offered these deals on a 2006 325i with sparkling graphite, beige leather, premium package, navigation, automatic and satellite prep. The MSRP is $38,320, invoice $35,165, selling for $37,620. DEAL #1: Lease, 36 month/15k, $654/month with $1534 down (security deposit, 1st payment, TTL) DEAL #2: Owner's Choice, 36 months, $613/month with $1500 down. DEAL #3: Owner's Choice, 36 months, $660/month with 0 down. Which deal would you choose, if any?
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Replying to: kyfdx (Apr 22, 2006 4:26 am) I originally negotiated the specifics of the lease deal in February when the base MF was .00225. The particular negotiating point relative to that variable was that the dealer would pass along their buy rate. Just prior to closing on the lease after the car arrived (on April 8th), I became aware from this forum that the MF was lowered to .00195. At closing when the dealer presented the lease document, the MF was at .00225. I conveyed that I was aware of the rate drop and told them I wouldn't sign unless the rate was adjusted to .00195. They did not want to do this initially, but grudingly agreed to it after things got somewhat uncomfortable for them during subsequent discussion in the closing room. They ultimately told me that BMWFS would have to agree to the change. Now I understand why -- they had back-dated the lease and could not bump me up on the money rate which was not in effect in March. I resent the fact that they blamed this on BMW -- at least they could have been honest about it saying that it was better for the dealership to do this. The more I thought about the whole thing -- and then being invoiced 12 days after closing on the lease for the second payment ($575), the more that this situation bothered me. I definitely will take your advice and meet with the sales mgr and GM if need be. If they dust me off, I'll pursue the matter with BMW and BMWFS. To treat any customer in this way is not consistent in my mind of what BMW is all about. Thanks again for your reply. I'll follow up with a brief note on how this concludes.
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I've been looking at 2003 CPO 2003 330Ci 5-speeds. I've seen them between 29k-31k. They offer 3.9% and the first two months on bmw financial if purchusaed by april 30. First, has anyone bought a CPO from bmw and how firm are they on the list prices? Second, Does BMW often have monthly deals on their off-lease CPO's? Im in the market but don't wana rush it just to buy something by april 30th. I know the 2007 330ci is coming out too, which is out of my league as far as pricing, so I thought perhaps they might be a little forviging on their listed prices of the 2003 CPO's. Any advice?
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