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Prices Paid: Buying & Leasing Experiences BMW 3-Series Lease Questions
2455 messages, Last post on Sep 05, 2008 at 2:50 AM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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Replying to: k98rs01 (Jun 09, 2008 9:43 pm) |
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Replying to: shabbirn (Jun 08, 2008 11:57 pm) |
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I got a couple of initial quotes from dealers in the metro NY area. BMWFS leasing program for this car is what it is, which is to say not very aggressive at this time. 3 years. 15,000 miles per year. Money factor .00185. Residual value 55%. Bank fee $625. Both dealers quoted without marking up the money factor or bank fee. So the only things that are going to matter here are (1) sales price and (2) dealer fees. Both quotes are based on no money down, and capitalizing the bank fee ($625) and sales tax (7.375%). At signing, I wanted to pay only the first month's payment and DMV fee. No security deposit will be required as this would be my second BMW (if I go forward). MSRP of quoted vehicle is $43,945. NY dealer quoted $679 per month based on sales price of $41,650. Also due at signing, in addition to first month's payment and DMV fees, is a nominal dealer fee of $45. CT dealer initially quoted $678 per month based on sales price of $41,600. Then I found out they have a $275 dealer fee which they refuse to waive. I asked them to re-quote by capitalizing the fee. The revised quote is $686. The CT offer is a little bit worse of a deal. The sales prices are similar, but the CT dealer charges a higher dealer fee. How about the dealer discounts being offered here? About $2,300 below MSRP. Can I expect to do much better than this through negotiation or is this pretty much the going rate?
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Replying to: davidd3 (Jun 13, 2008 7:18 pm)
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Replying to: richz (Jun 13, 2008 7:32 pm) So automatic transmission is basically a free option then! I could not find this credit in Edmunds "Incentives and Rebates." Is there a place where I can substantiate this credit? I just want to make sure I know what I am talking about before I press dealers to apply all or some of this credit to lower their prices. I hesitate to negotiate price with dealers based on some amount above invoice, because the invoice amount I find in my internet research (e.g., Edmunds) always seems to be lower than what the dealer says is their invoice price. Instead I just get some offers and then play them off against each other. Eventually I start to see the lowest common denominator, or one dealer breaking away from the pack, as the case may be. Edmunds TMV for this car is about $1,400 below MSRP. The initial quotes I got are about $2,300 below MSRP. So I supposed that I might be off to a good start. No?
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Replying to: davidd3 (Jun 14, 2008 5:02 am)
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Replying to: richz (Jun 15, 2008 6:35 pm) I did. It's not clear to me that it applies to leases too, but I will certainly ask my dealers about this. Thanks for pointing this out.
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Replying to: davidd3 (Jun 15, 2008 7:33 pm) I just confirmed that this credit applies to leases. The above quote was in a recent post in another Edmunds forum describing a lease deal. Thanks again. |
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