12-03-2019, 05:02 PM | #287 |
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Updated with December rates -- no changes from last month.
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12-05-2019, 09:22 PM | #288 |
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If negotiating with a dealer to buy and we agreed to a sales price but now after speaking to wife contemplating leasing vs financing, does this negatively affect the deal for the dealer?
Im thinking id rather lease the car rather than finance. Just wondering if the deal would now change... rebates would change, but sales price was agreed. I obviously would have to confirm MF but all else should be equal no? Thanks in advance |
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12-05-2019, 09:32 PM | #289 | |
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12-07-2019, 05:56 PM | #290 |
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A couple of questions for people who have ordered their bmw.
When ordering a car does your credit get run before you pick it up the car or right when you place the order and put the deposit down? I paid some bills recently which brought my utilization up and credit score to just below 700, should I just wait a few weeks before it goes back up before placing an order if it'll cost me a higher MF. Another question that I can save for the dealer is that I want to do the PCD, I only live 70 miles from the plant but I'm also planning on trading my car in. What point do I give them my car for trade? I have my wife's car to get around but just curious. |
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12-08-2019, 08:04 AM | #291 | |
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On that note, shouldn't your utilization decrease if you've paid off bills? Unless you're paying these accounts off and closing them too. Or do you mean you paid off bills with credit cards? Also, how are you verifying your credit? Are you relying on sites like credit karma? Or are you actually paying for your score through myFico? I would strongly suggest paying for myFico as that will give you your actual auto lending score, which is what manufacturers reference when issuing credit. In regards to your trade in. I would strongly suggest you treat your trade in as a separate transaction. If you negotiate sale price of the car as well as your trade-in, the dealer will most likely try to justify offering you a "good" deal on one end by making it up on the other end (i.e. give you a good % off MSRP but then give you a terrible valuation on your trade-in or vice versa). But by treating them as 2 separate transactions (not even mentioning you're trading a car in at time of MSRP negotiations), you're ensuring the dealer doesn't muddy up the deal. You will also benefit if you get sale quotes for your trade-in with other methods (i.e. carvana, vroom, carmax, etc). I found carvana to offer me the best value for my previous car when I was selling it. The dealer was offering me about $1,500 less than what carvana offered.
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12-08-2019, 03:28 PM | #292 | |
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12-08-2019, 05:20 PM | #293 | |
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As far as my current car is concerned I was offered $22k for it through Genesis when I was looking for a G70 for myself, I stopped by a BMW dealership nearby where they gave me $19k but I didn't spend any time negotiating. I'd be happy with $22k as that is a few hundred less than my payoff. |
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12-10-2019, 08:28 AM | #294 | ||
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In order to get a 'top tier credit' deal, I was told by my local dealer a credit score of 740+ would qualify for that. However, I believe BMWFS will approve most people as long as they have above a 680 and don't have an absurd monthly payment amount. It also helps to put down some $ if you're credit is not the greatest. I had to work on rebuilding my credit over the last few years from some mistakes when I was younger and dumber
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12-10-2019, 09:33 AM | #295 | |
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12-10-2019, 04:01 PM | #296 |
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I'm likely turning in my 2017 M3 lease and getting a base-ish 330 lease. Really just want less cost, I have a fun weekend car and while the M3 is awesome, I was just sitting in traffic, never using it's capability.
Deal I was offered on a 2019 330 Loaner w 2,900 miles (I don't care about it being slightly used, it's a daily that will get turned in after lease is up) MSRP $48,600 Sales price $42,500 15k miles / year 58% residual 0.00128 MF $0 cap cost reduction About $1,500 in fees are signing Taxes rolled in (CT) $524/ month And they are taking my M3 back 3 months early. I'm at 46 K miles on allowable 45k total. I also have the fleet discount to apply but have not brought that up yet. How'd I do? |
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12-13-2019, 12:23 AM | #297 | |
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couple things to consider however, this included college grad and OL code incentives that surely not everyone has (added up to an additional $2k in incentives)... this was for a 10k/yr lease vs your 15, and lastly there was no other car being absolved into the deal.. again, not sure how much that helps, but figured it would give you some baseline that you could then plug some #'s into and see where you could possibly end up |
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12-13-2019, 03:27 PM | #298 | |
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MSRP: $51,425 Sales price: $44,376 MF: 0.00128 15K miles (58% residual) $0 cap cost reduction $2K due at signing with all fees and first month $525 / month incl 6% CT sales tax Thats 13.7% off MSRP and they are taking my M3 back 4 months early. I feel pretty happy with this. I was also told that you cannot combine fleet with loyalty credit. True? |
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12-13-2019, 03:33 PM | #299 | |
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$2K cap cost reduction? What was the sales price? |
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12-13-2019, 04:51 PM | #300 | ||||
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Dealer discount brought it down to $39k flat, and then $4750 in incentives.. so a final sales price of just over 34k which I think explains the lease payment |
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12-13-2019, 06:50 PM | #301 | ||
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12-17-2019, 12:24 PM | #302 |
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Its not. Not sure what they are doing with it, but I'm not responsible for any of the three remaining payments and I can't see where they are working it into new deal (deal seems ok standing on its own, I think).
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12-18-2019, 05:09 AM | #303 |
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One of two things happens: either the trade value is above the lease payoff amount (positive equity) and they apply this to the new lease, or, they're rolling the total of the three remaining payments into the new lease.
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12-18-2019, 07:18 AM | #304 | |
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BTW here is my breakdown of costs due at signing: $525 first months payment $255 tax on $2,750 rebates $260 DMV fees $925 bank fee $75 doc fee $2040 TOTAL DUE AT SIGNING |
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12-18-2019, 07:45 AM | #305 | |
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Not common, but sometimes you get lucky. |
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12-19-2019, 12:51 PM | #306 | |
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Picked up the car. While its not an M3, its a very nice daily. Engine is definitely stronger than I expected. |
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12-22-2019, 09:05 AM | #307 |
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I was recently quoted the following:
2020 BMW M340i XDrive: MSRP: $64,575 Discount: 10% off MSRP pre-incentive 36 Months / 12K Miles Monthly Payment: $599 w/tax Drive-Off Amount: $2400 ($400 in CCR which I don't agree with) Additional Drive-Off: $4200 for max of 7 MSDs MF: 0.00148- dealer will not go to base Residual: 60% Incentives: $3000 (BMW - $1K Lease Credit / $2K Loyalty Region/Taxes: PA / 9% Thoughts?
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12-22-2019, 01:00 PM | #308 | |
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