OK, so I have finally found the car I think I want and pushed pretty hard on the deal (they actually just gave me what I asked for straight off the bat)
I have the following rebates:
$1,000 holiday
$1,000 loyalty
$1,500 VIP
I have been told the loyalty rebate actually only acts as a drive off reduction and not a cap cost reduction. Is that correct?
Given that my ambition is to reduce the monthly does it make sense for me to do a $1,000 cap cost reduction on the car to counterbalance the fact the loyalty just reduces the drive off? Effectively putting the drive off to where it was and reducing the cost of the car?
Here is the deal. not sure if the rebates are in the right cells. (Sale price is $2k below invoice) I would ideally like to get the monthly down to $450 but with rebates I am already at $5,500 below invoice so not sure if I can push any further. (also their numbers never seem to match mine on the calculator when it comes to the monthly)
I can confirm the $1,000 Loyalty Credit, which is taken off the drive-off. Put this under the “taxed incentives” field.
The $1,000 Holiday Credit is likely reflected in the selling price offered by the dealer. This is not taxed, and it’s not really a “rebate” in the traditional sense.
Thanks @michael, I was very clear with them that the selling price I was negotiating was before any rebates were applied, and that included the $1,000 holiday. They also agreed that my rebates came to $3,500 in total and that made the car effectively $5,500 below invoice.
The VIP is a BMW rebate given to the dealer if you are part of their VIP program which I am lucky enough to be a part of. (It also guarantees purchasing the car at invoice and then you apply all the rebates, I did better in this instance but useful for M cars etc)
So it seems I have the numbers in the right place based on your feedback, good to know and thank you again.
Yup, you are reading it correct. It is a Sapphire black X3 35i with M sport, 20 inch rims, tech, driver assist plus etc. I was looking at a $63k one but it had things I did not need.
I was thinking that I should just get an X5 for that msrp but to they have such bad residuals that they would be an extra $150-$200 a month for the same priced car.
I know when I was in the process of leasing my 550i, I saw a few X5 demo/loaners for $450ish/mo. If your open to getting this years model I would suggest looking into that. PM me if you would like any help.
I just called them and said I would like to buy their car at $2k under invoice before rebates. If they would I would buy the car that day. He spoke to his manager and they agreed. I then told them I had lots of rebates but they did not care because BMW would give them the money back. Actually came in at $462 a month in the end. Very happy.
I’m definitely getting an SUV at the end of this month. Is it better to start negotiating now or waiting until ~28th to email dealerships, when they are under much more pressure to make #s?
I would say go for it now. They are desperate now for sales and the cars they want to sell are the ones in stock, so if you see a car you like go in hard. If you wait you may not have any choice as to options etc.
