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Prices Paid: Buying & Leasing Experiences BMW X3 Prices Paid and Buying Experience
1544 messages, Last post on Sep 28, 2009 at 3:51 PM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
I signed the paperwork this weekend and took delivery of an X3 3.0i. I was satisfied that I got a good deal. I paid $37,650 or about $980 over invoice ($36,670), which, for a BMW, is not that bad a deal (about 94% of MSRP($40,020)- everyone else was stuck at about 96%-97% of MSRP). The edmunds.com suggested price is $2,072 over invoice, and I beat that by over $1000. I consider that to be a pretty decent deal. I am okay paying a slight premium for a premium car, and I am certainly impressed with the car itself- quite a ride. The money factor they gave me was .0012, and this was after they waived the security deposit, so if i forked over $500 sec. dep., I could have gotten the .001 if I pushed. The money is in my account earning interest instead of theirs and the difference in interest cost was about $490 over the life of the lease- better for me than for them, in my book. The $825 lease acquisition fee is a non-negotiable in the state of Tennessee I have come to learn. If anyone has any experience on that front and could enlighten me otherwise, I'd love to know. Every dealer I spoke with was not willing or not able to budge from the $825. The doc prep fee at the dealer I ended up with was $99.50 (versus $329-$399 everywhere else), and they charged no Title/license fee because I need to register it myself (I bought it out of state). The residual factor was 62%, which is as high as on any BMW they are offering right now. All of these factors combined led to a monthly pmt of $487 with no cap cost reduction. The local dealer was offering a $500 monthly pmt under the same lease terms, and about double on the up front fees. Overall, I feel like I got fairly good execution on the overall package. Some people could probably do better but a lot of people probably do worse, so I am content. Like another poster mentioned earlier, I don't want to hear champagne corks popping when I drive away from the dealership. They may have cracked open a beer or two, but it certainly wasn't champagne. Without participation on the edmunds.com site, I would have added to my local dealership's profitability in a considerable way. This community saved me a lot of money. Ultimately, I think the best way to go is to search the web for every dealer in a prescribed area- say 250 miles. Then communicate with them via email- send a "bid form" outlining the car you are looking for and the exact terms you are willing to agree to. If you are lucky (this process involves a lot of luck, I think!), the dealers who respond will start looking for the car for you and if they don't have it on their lots, then the process of initiating a dealer swap will force them to begin to get competitive on price- all of a sudden the dealers that have the car you're looking for don't want to lose a sale to another dealership on a car that they have had some nibbles on...and 'round it goes.... They are more than willing to have a pricing dialogue over email and I would recommend it. If you are in a showroom, then you are not on home turf and they work that to their advantage- negotiating on price from your livingroom a much better scenario.
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Replying to: burgermac (May 23, 2005 1:42 pm)
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Replying to: haakon (May 23, 2005 4:00 pm) Jet Black/Terracotta Leather Premium Pkg Auto Trans Xenon Headlights Privacy Glass Satellite Radio Prep MSRP$40,020 Sale Price $37,650 Invoice $36,670 Drives like a sports car. xDrive is incredible. Xenon headlights swivel to light your path. Plenty of power...can't imagine how it will drive when they start putting the 255hp 3 liter engine in it. |
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Replying to: burgermac (May 23, 2005 1:42 pm) Got this quote from a dealer for one X3 in his lot. Valid till 31st May.Any suggestions on wether this is a good deal and what I should try to negotiate with the dealer. Seems like a good deal to me.Was giving this as his final offer when I was walking out.Downpayment can be adjusted and am planning a 2500 down.Thanks in advance.  MSRP:43545 -------------------------------- GRS CAP Cost:42500(including lease aqn fee of 825) Sales Tax:0 LAH Premium 0.00 Cap Reduction:3982.08 ---------------------------------- Net Cap Cost:38562.92 Adj Residual:26997.90 Total term dep:11565.02 Monthly Dep:321.25 MO Lease CHG:78.67 --------------------------------- Base Payment:399.92 MO Tax:0 MO prop tax: 0 ----------------------------- Total MO PYMT:399.92 Tot of payments:14397.12 Est fees/TERM:394 Tot taxes: 0 Life Prem:0 Lev Prem:0 A&H Prem:0 IUI Prem:0 1st Pymt:399.92 Cap Red: 3982.08 Sls tax upfnt:0 1st Year fees:168 Sec Dep:400 Other upfnt:50 ----------------------- Tot Init Pymt:5000 Due on Del: 5000 Term 36 Mo at 10K miles annually
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Looked hard at the X3 yesterday. The lease opportunity is so attractive. .0010 for a money factor and aggresive dealers. I just wish I liked the styling more. For a buying experience, if you are interested....NOW IS THE TIME!!!!!!! Can anyone tell me if they opted for the aero kit or even seen one. I want to know if it looks to pimped out or does it add a masculine look to the car? It drove awesome, but then again it is a BMW. djocks |
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Replying to: muni (May 25, 2005 10:00 pm) 2) I always recommend never making a cap cost reduction.. you can read back through the thread to see why.. 3) Your purchase price of $41,675 is decent..about $1900 off MSRP... not the lowest I've seen, but fair.. 4) The dealer is marking up the acq.fee ($625 base) and the money factor (using .0012, base is .0010). If he dropped those two figures back to the base numbers, the payment would drop to $381.06/mo., with about $4982 due at signing. If it were me.... NO cap cost reduction Base MF .0010 Base acq.fee $625 Net cap cost $42,300 (selling price + acq.fee) Payment $495/mo.+ tax. Due at signing: 1st pymt, security deposit, $218 misc.fees (from your numbers).. Total due: Approx. $1215. One other note.. I don't see any provision for sales tax in these numbers.. Are you paying that upfront? If so, that would be even more due at signing.. Or, it would have to be rolled into the payment (my choice). regards, kyfdx
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Just did the paperwork on a new X3 3.0 lease- Jet Black/Black leather Automatic Premium Package Cold Weather Heated Steering Wheel Privacy Glass Sat Radio Prep MSRP: 40,120 Negotiated Price: 37,125 (before any cap cost reduction) Cap cost reduction: $300 MF .00100 (they started at .00140 and I said no way) Residual 61% Acq fee: $900 (it's New York- non-negotiable) 3 years/12k Up front: $3500 (tax, title, acq fees, other fees, and about $300 cap cost reduction, just to get to an even $3500 out of pocket) Monthly Payment: $404 I was a little surprised to negotiate nearly $3000 off of MSRP, but this is a great time to deal on this vehicle. The dealer was very pleasant and professional. I am looking forward to picking it up tomorrow! Good luck if you are looking to get one.
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Replying to: kyfdx (May 26, 2005 6:39 am) One question. How did you calculate the money factor? There is no sales tax in Oregon. Thanks, Muni
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Replying to: amcdad (May 26, 2005 5:58 pm) Fantastic selling price..
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Replying to: muni (May 26, 2005 8:25 pm) You have to like the "no sales tax" thing... regards, kyfdx |
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