Last post on Aug 09, 2013 at 6:20 AM
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BMW X1, Car Buying, Car Leasing, SUV
#12 of 27 Dealer interaction
Sep 25, 2012 (4:15 am)
Looking at a BMW X1. Great car. Liked the car w the Navigation. BMW dealer here said he could get one for us w the color combination my wife wanted. Went to close the deal... no navigation. We said no. They weren't happy. It wasn't what they said they were going to get!! Now they can get car, but want $ 1000 and a signed purchase agreement. Said it's "standard." Wasn't the first time around... so Is it?? Going to go to another BMW dealer, but I don't like handing over $$ and signing papers on a sight unseen vehicle. I usually buy off the lot. "TO ME," and I could be wrong, but signing a paper and giving them $$ puts the consumer at a disadvantage. What's to stop the dealer from crying.. we can't get that car anymore, another dealer took it, BUT we have this car here on the lot...... or we can order it for you and get it in 3 months........
#13 of 27 Re: Dealer interaction [fjs0808]
Sep 25, 2012 (8:10 am)
A deposit to order the car is reasonable though not every dealer asks for one. But you probably shouldn't have to do more than $500 and you should make sure the money is refundable.
Under no circumstances should you sign a purchase agreement before you see the car. The dealer should have you fill out a credit application to get you approved for financing the car with BMW financial. You do not have to use that financing in the end if you can better their rate, but the dealer has to have some assurance that you are actually capable of paying for the vehicle.
You are doing the right thing- going to another dealer. If you really want to buy off the lot you might want to wait another month or two for X1 inventories to build up. The cars only started arriving here in the US in August. Around me most of the cars are either very stripped down or have the combo that gets you the $399 lease rate and that does not include the navigation.
#14 of 27 Re: Dealer interaction [tirpitz]
Sep 25, 2012 (9:40 am)
Initially when we left, after the debacle about the car, the salesman said $ 500 to get the actual car we want. He called me later to say $ 1000. I requested the Purchase Agreement to read; never to sign. Salesman said they were only for the store.. He finally relented and emailed it as an attachment (don't ya love email and scanners). It was brutal. We may have to wait as you say. My wife is pushing to get "something." She hates dealing with buying cars.
Thx for the note.
Nov 20, 2012 (3:08 pm)
Hi car man! I wanted to get clarification on BMW's holiday and loyalty rebates. My as built MSRP is $45995 and we agreed to do $1000 over invoice. My question is does the rebates take the price down further? The dealer is saying my price of $41500 is not possible.
#17 of 27 Help a foreign dummy
Nov 20, 2012 (11:13 pm)
Hi, I am thinking of getting a new X1.
I'm a foreigner, I studied in a US graduate school for 2 years, and recently got a job and Social Security Number. I don't have a 'real' credit history, as it's been only 2 months since I started using my credit card(I only used a debit card when I was studying). I'm on my student visa now, which expires in 31 months, but I'm pretty sure my employer will file for a working visa in the next year.
I've been browsing the web for a small SUV, like Merc GLK, BMW X1, Audi Q5, Honda CR-V, Mazda CX5, and so on. So far, I test drove X1, GLK, and CR-V. And I'm more inclined to get X1, as it was the cheapest among the expensive cars. (+design, fuel economy, fun to drive, ...) Anyhow I'm considering the basic sDrive28i with minimal options.(heated front seats, and maybe the sunroof)
As my status is unusual and I only have $10,000ish for a down payment, I'm thinking of financing, or even leasing if available. I filled out credit application at those three dealers. Every time the dealer told me I should file the application to give me a quote, and the rate, and I thought that's normal procedure. I just wanted to see how much I should expect to spend and if I'm eligible for a lease. Here question comes. Did I make mistakes? Have I provided too much information and made my credit rating even worse? Shouldn't they be able to provide the quote and rate, having data on my employment, salary, rent?
I just dropped the contacts to Merc and Honda, as anyway I didn't want those cars, and I'm talking with a BMW dealer. As we dicussed the term in front of his monitor, he had shown me some arbitrary rates, and some quote $1,000 above its invoice. He still hasn't given me specific quote and rate, so I asked him by email for the numbers we saw, as I hoped to crunch numbers and figure out what I should do.
But he answered that he cannot "go forward" without my documentation so I need to send him my employer's letter, copy of my visa, copy of my drivers license. It's ridiculous that he answered "Leasing at 30 month with $10K drive-off and your payment estimated at $205 amonth if BMW give you a good rate. Purchasing at 30 months with $10k down and your payment estimated at $915 amonth if BMW give you a good rate." so I asked again what the good rate was, and he answers "I can't give you any rate because I don't know what BMW will give you. I will need all the information BMW requested from you in order to come up with rate to structure your lease or purhcase." Is he right in this context? It feels very uncomfortable that the Merc dealer told me exactly the same thing. (And I ended up not having a quote)
Do I need to send the documents to just get the quotes? Or should I walk away and find another dealer? If so, how should I approach them?
I'm sorry for a violence with this long story. Thank you for reading with patience, and I ask for your advice.
#18 of 27 Re: X1 m sport [cartman503]
Nov 25, 2012 (6:16 am)
Hey cartman503. Sorry for the delay in my response, I've had company for the holidays and things have been a little busy. The answer to your question all depends upon what you and the dealership negotiated. Chances are that the dealer included all available cash incentives in the price that they offered you, but that's not necessarily the case.
In my opinion, $1,000 over invoice minus the cash incentive for an actual selling price of invoice is reasonable. $1,000 over invoice without taking off the cash incentive is really more like $2,000 over and a little high for my taste.
Prices Paid: Buying & Leasing Experiences Forum
#19 of 27 3% off MSRP + $500 rebate
Nov 28, 2012 (2:30 pm)
My dealer is offering me 3% off MSRP and a $500 rebate if I purchase before end of the year. What do you think of this deal?
Nov 30, 2012 (2:12 pm)
I got 5.25% off MSRP before holiday cash and I probably could have pressed for more to get closer to invoice (almost a 9% spread between MSRP and invoice for the car I leased). Since this is a new car it's pretty hard to get too close/below invoice, but 3% seems pretty weak to me...
#21 of 27 Re: 3% off MSRP + $500 rebate [minothor]
Nov 30, 2012 (2:29 pm)
I'm in Southern California and have seen prices of about $500 over invoice or even less. Work from the invoice price and get any available incentives. If you're going to lease watch out for dealer markup of the base money factor and other fees.