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Prices Paid: Buying & Leasing Experiences BMW 3-Series Prices Paid and Buying Experience
10320 messages, Last post on Dec 07, 2009 at 12:38 PM
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Looking to possibly buy my 2003 330XI at lease end. Residual value is $22,800. I currently have 6 months left on the warranty. Can I negotiate the sales price? Will BMW certify the vehicle. Should I buy an extended warranty? If so, should it be from BMW or an outside source? Who do I negotiate with BMW Financial or should I call the dealer. Also, I paid taxes on the sales price of car at the beginning of the lease. Do I have to pay sales tax all over again? I live in Maryland. Looking to complete this transaction by next week. Either buyout my lease or look for something else. I've found these forums extremely helpful and now in quandry. Thanks 
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Replying to: edrn (Jan 10, 2007 4:36 am) 1) BMW will not negotiate buyout prices. The residual is the price you'll pay. Look at KBB.com, Edmunds.com, NADA.com, and dealer listings to see how the prices compares to market. You need to compare to dealer retail price, since you are effectively purchasing a pre-owned car. 2) You can pay BMW roughly $2,200 to certify your vehicle, which extends current warranty to 6 years/100,000 mi. This is really same as buying an extended warranty from BMW called the Original Owners Protection Plan. Certification would really only be useful if you weren't original owner and not otherwise familiar with the vehicle's history. 3) You can buy a much longer warranty, at much lower price, from warrantydirect.com. They have good reviews, and that is what I am planning to do. 4) You can buyout through dealer or BMW Financial. I think it's easier just to deal with BMW Financial (800-578-5000), you can handle everything by phone and mail. 5) I don't know about tax situation. It varies state by state. BMW financial will tell you. Most states charge you tax during the lease only on the payments (financed depreciation), but not on the residual. If that is the case, you would have to pay sales tax on the $22,300 buyout price. You can look at your lease to see what tax you paid. Again, BMW financial will help. 6) You can purchase vehicle with cash or BMW will finance for you as term loan.
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Replying to: txbmwfan (Jan 10, 2007 1:16 pm) Thanks again 
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Replying to: edrn (Jan 10, 2007 7:33 pm) |
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Locked this in today 328i w/ heated and power seats. everything else standard. MSRP:$35865 Term:36 month lease Mileage: 12k/year MF=.00190 Down Payment: $2,500 Monthly Payment: $419 per month including 6% tax and aq fee Total Due at signing: $3911 Hope this helps any other shopers. Any opinions?
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Replying to: bmwpanic (Jan 12, 2007 6:01 pm)
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Replying to: misterep (Jan 12, 2007 6:31 pm) Is it that bad? really? how much better do you think I could have done?
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Replying to: bmwpanic (Jan 12, 2007 6:01 pm)
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Go to leaseguide.com and read up on leasing before committing to a lease. 1. You always negotiate the sale price of the car - even on advertised specials. You can usually drop your payments significantly. 2. Negotiate the MF - make sure the dealer is getting only 1 or 2 points over the base. Some profit is fair, naturally. |
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Replying to: ili5 (Jan 12, 2007 7:29 pm) Once you have agreed to a reasonable price for the vehicle, the next step is you how you will finance the purchase -- lease, loan, or cash. The final step, is to discuss your trade-in (if applicable), which would ONLY relate to your down payment on amount financed. If a dealer inquires upfront inquires whether you have a trade-in, plan to loan or lease, or montly payment you desire, respond that you have not made any decisions. Further, those items relate solely to financing the vehicle, not price of vehicle which has yet to be discussed. For myself, I just send a email to the dealership's Internet sales manager with my proposed terms: car color and options, price willing to pay, finance terms including down payment and interest rate, and resulting monthly payment amount. I then ask a simple question -- will you agree to these terms? I only want a yes or no -- not talk with manager or anything else. This has worked with the purchase of my BMW and wife's Acura. Happy Hunting! |
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