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2008 BMW 328i Coupe

18 messages,  Last post on Apr 19, 2008 at 8:10 PM

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#1 of 18
2008 BMW 328i Coupe by cabreraluisf
Sep 21, 2007 (10:02 am)
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Hello All,
New here, lots of great info...thanks!
Been freaking out lately...One month ago I ordered a 2008 328 Coupe with Auto, Leather and Metallic paint...MSRP: 39275
The car is on its way, but I have become worried about the kind of deal I can get on an ordered car.
I have been having nightmares about me getting to the dealership (it is one of the infamous Miami dealerships who are used to dealing with South American drug dealers, nit with normal working folk) and being asked to put up with a $700 payment, without the opportunity to back off due to the car being there.
 
I can put $5000 down, but don't know if they have any lease programs available!
 
Please help!
a) Can I get out of the deal before the car arrives and then try to negotiate a car that is on the lot at another dealer?
b) Can I just wait until the car gets here, and if I am not happy with the price, walk away?
c) Really don't like the salesman, so would rather cancel now
 
Thank you all!
#2 of 18
Re: 2008 BMW 328i Coupe [cabreraluisf] by dan12
Sep 21, 2007 (10:24 am)
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Replying to: cabreraluisf (Sep 21, 2007 10:02 am)

Until you sign on the dotted line(s) of a purchasing agreement, you are free to walk away from the deal for any reason. The dealer may not like it, but ordering a car does not mean that you must buy it when it arrives. Typically you will want to agree on the deal before ordering so there are no surprises at the end. When the car comes in, you simply pay what you agreed to and you have a nice purchasing experience. Or, if you change your mind, you get your deposit back and walk away. Btw, most dealers will ask for a $1000 deposit, although I also had one ask for $5000.
#3 of 18
Re: 2008 BMW 328i Coupe [cabreraluisf] by rbrent
Oct 14, 2007 (7:11 pm)
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Replying to: cabreraluisf (Sep 21, 2007 10:02 am)

Get your financing done ahead of time. If you belong to a credit union, they will offer the best deal wheather you want to lease or buy the car. Typically the dealers have arrangements with financial institutions that make them some money, so cost you more. Arrange for financing NOW before the car gets here.
#4 of 18
Re: 2008 BMW 328i Coupe [rbrent] by cdnpinhead
Oct 15, 2007 (5:15 am)
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Replying to: rbrent (Oct 14, 2007 7:11 pm)

Not always.
 
While it's nice to have your own financing available if needed, the volume of business that a car dealership can throw to a bank often means they can offer you a better rate & get some for themselves as well. In addition, if you're aware of this, you can offer to let the dealer handle the financing & get a bit more off the car in the first place.
 
Just don't let the F & I guy sell you a bunch of other stuff you don't need.
#5 of 18
Re: 2008 BMW 328i Coupe [cabreraluisf] by plan9
Oct 26, 2007 (8:43 pm)
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Replying to: cabreraluisf (Sep 21, 2007 10:02 am)

If you put down a deposit you could lose it. Other than that there is no "deal" to get out of. As far as "deals" on a car that was ordered, you are talking a 2008 model of a very hot selling car: MSRP is a good deal in the fall of 2007. Dealer markups are not what people think. I fail to see the victory dance is justified for saving $1,000 or $2,000 on a $40,000 plus car. BFD, as they say in the navy.
 
As far as not liking the salesman, he's a car salesman. Why these guys don't spend 5 minutes memorizing features, colors and such is beyond me. The fact is, you are more of an expert in two minutes of googling than 90% of salesman.
 
BIG TIP: if you credit is OK you should get 3.9% financing. Otherwise, WALK. In case you're interested, the TOTAL cost to finance, say 32K, is about %3600. Not per year, the total cost for 5 years. It's ALMOST FREE MONEY.
 
I would NOT lease unless you can drive off with nothing or next to nothing down. If they ask for a big chunk of change on a two or three year lease, guess what? Divide that by the number of months in your lease. Now look at your payment. If you can't lease with no money down for a low rate, WALK.
#6 of 18
Re: 2008 BMW 328i Coupe [cdnpinhead] by plan9
Oct 26, 2007 (8:49 pm)
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Replying to: cdnpinhead (Oct 15, 2007 5:15 am)

BMW has 3.9% and you cannot beat that, even on a home equity line of credit which is tax deductable. If you need to, drop 15K on a 50K car and finance the rest at 3.9%. Even based on simple interest, that would be $1248 interst for an entire YEAR. In fact, since you're paying principal, over 5 years, the toal interst charges, TOTAL, would be around $3600. I mean, C'MON! $60 a month interest to finance 32K? That's stupid low.
#7 of 18
Re: 2008 BMW 328i Coupe [plan9] by plan9
Oct 26, 2007 (8:51 pm)
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Replying to: plan9 (Oct 26, 2007 8:49 pm)

BTW, they can do this because BMWs have a VERY low depreciation rate. They REALLY hold their value and that makes leasing and financing WAY less riskier, hence, cheaper.
#9 of 18
Re: Looking for someone to take over my lease on a 2007 BMW 328i Coupe! [cp by fedlawman
Oct 30, 2007 (5:39 pm)
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$665/mo for 24 months equals $15,960. Plus residual value of $23,800 equals $39,760.
 
A brand new 2008 BMW 328i with Sport Package, Steptronic, and Metallic Paint has an MSRP of $38,825 ($1,000 over invoice would be $36,800).
 
Nothing personal, but I think you might have a hard time unloading your car with your current terms...
#10 of 18
Re: Looking for someone to take over my lease on a 2007 BMW 328i Coupe! [cp [fedlawman] by cdnpinhead
Oct 30, 2007 (5:44 pm)
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Replying to: fedlawman (Oct 30, 2007 5:39 pm)

Thanks, Fed. I was waiting for someone to say it.
 
Payments sounded high to me, but I haven't put my Excel sheet together yet to do the math quickly.

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