Hey guys. First post here so please let me know if I’m missing information. I’m looking at two cars, 2019 M5 Base and the following 2020 M5 Competition. Please let me know how I can get a better deal, other than waiting and increasing my credit. I’ll be registering the car in Florida.
2020 BMW M5 with Executive Package
MSRP=116,375
Sale Price = $105,375
$2000 of which is rebate, looks like $9000 is dealer discount
MF = .00118, althought I’ve asked them to quote me for MF for 650 credit because that’s where I’m at
DAS - $3395 (300 govt fee, 925 acquisition fee, 699 dealer fee, 1395 first month payment but not sure where the other $76 is)
Residual amount - $66333.75
Monthly payment $1370.52
Not sure if I’m missing anything, let me know. Thanks!
I think everyone on here is going to have wished you had done some searching before posting.
M5 is a frequently quoted car by many of the reputable brokers on this site.
They can save you more than 200+ per month.
However, I am not sure if this holds true for 650 credit score…
I haven’t had them run my credit yet. I’m new to the whole process to be honest, so I could be wrong but I didn’t want to have them run my credit and not come to a agreeable terms and have to go have another dealer run my credit and potentially do that a few times
Shop all similar models in a 300-500 mi radius and don’t fall in love with either of these two. The leasehackr standard is 10% off MSRP before incentives as a target but don’t start feeling entitled to it because depending on the market it may not be realistic.
Also, I’ve found most luxury brands deal in gross margins over volume and you’re negotiating on one of their flagship vehicles albeit in a soft market. That being said, their intent would be to make the maximum amount of profit on each unit as opposed to selling as many cars as possible in a month. So, you’d be less likely to get anywhere near the target above but I hope you find a deal that works for you.
OP says he’s “new to this whole process,” but also says his current lease is “up in 3k miles.” I thought leases were based upon miles and a specified timeframe … lol. OP is obviously not “new to this process” if currently in a lease.
Weak discount. Look at the last 2019 model at the Gainesville dealership. They will do 13% at the very least, when I last probed a month and a half ago. Might have potential to squeeze more there.
shop $100k cars during a global pandemic?
