Hello Hackrs,
Thoughts on the below I received from a dealer?
2018 BMW X1 xdrive Loaner - Convenience and Premium Package, Heated Steering, Apple CarPlay
24 months/10k
Residual:$ 28468
MSRP - 45,290
Sell Price - 38,900
Incentive - 1000
Fees: 1062.75 (includes $925 acq. fee)
MF=.002206 (I believe this is marked up should be .00166)
Monthly $529
Taxes: $942
With 1500 down it would go to $464 monthly
Seems high to me especially with the money factor.
How many miles does it have? The residual penalty is severe on loaners over 5k. Get a buyrate MF, target selling price should be 20% off msrp before incentives.
The way this deal is structured, it is pretty bad.
4,380 miles. So almost target a 36,232 sell price 20% before the incentive?
any reason you’re looking at 24 months? 36 month term will be better. As is, though, I’d agree…push as close to 20% off before incentives as you can get. Currently, it’s not great.
You might not be able to get exactly 20%, there’s definitely some room for the selling price to come down. It depends on the dealer though, they might be firm, or they might work with you. Have you also looked around at other dealers?
It usually helps if you have more than one dealership you’re dealing with, for more reasons than one.
Yes, 36 is the sweet spot for these as @mp11477 mentioned. If you have to have 24, you’re going to have to accept that it will be more expensive.
Thanks guys. I am open to the 36. I’ll get back to you on what I hear back from dealer.
I asked for 36500 before the incentive for sale price and the buy rate money factor instead of the marked up one.
Only a couple of dealers in my area but I can also reach out to the other one.
Don’t be afraid to travel a couple hours away, either. The further you throw your net, the more likely you can get someone to bite.
Thanks. Dealer won’t move on anything. On to the next!
i will send you in a similar x1 for 420 a month with 1500 down. brand new.
If you’re a dealer or broker I’m pretty sure you have to register first…