I’m in Chicago and seems like it’s a tough market to get good deals on BMWs. I’m looking at a 2020 3 series and found a loaner car with around 1,500 miles with MSRP of $47,380. Dealer sends me a quote of $40,512 after a $1,750 rebate and just says MF is 0.00137 and RV 61% (which I mentioned in the initial email) and that monthly payment will be $511-542 depending on credit score. I ask for a more detailed breakdown, a worksheet, and that I expect at least 15-17% off of MSRP for a loaner car, not just 10.8%. He just sends me an email saying selling price is $40,162 but MF is 0.1137 and monthly payment is $499. Has anyone heard of bumping up the MF by that much??? Also he refuses to send me any numbers regarding costs, taxes, etc. Should I still try to negotiate or walk away?
Don’t walk away. RUN!!!
If they are only offering 10.8% off on a loaner, I can’t imagine what they would offer on a brand new car.
Move onto another dealership. You might have to either look out of state or hire a broker, since Chicago dealers are not always discount-friendly.
More than likely that is a mis-type on the MF, with that being said throw your best offer at him: Percent off MSRP, Base MF, incentives, Monthly, etc…and see if they take it. If not, as others have said, move on to out of state or the broker route.
Obviously a typo. Do you think the payment would be $499 with 273% corresponding rate?
It doesn’t have many miles on it so don’t expect 18%. Post your sheet or match it in the calculator, post link
So it was a typo. Math still doesn’t really add up but I think I’m gonna go in to discuss further.
If they don’t budge start involving other dealers. There’s quite a few BMW dealers in the chicagoland area, but only a small few that are truly aggressive with their pricing (by leasehackr standards)
It is a decent deal for Chicagoland considering it has 1500 miles. Even if it had more miles, I think you will have a hard time finding any Chicago dealer willing to do 15%+ off this month. And if you are talking about the dealer I think you are, you will get there and it will be plus taxes and fees especially if they will not send you anything.
Chicago dealers, by and large generally, SUCK!!! You def need to shop around or use a broker.
Do you like in Chicago city proper? If so, you will pay use tax sending your effective tax rate upwards of 17-18%+!!!
I did say I want zero down but I should’ve clarified to zero drive off. I think the dealer will definitely tack on fees.
No thank god I’m in the suburbs.
Chicago BMW dealers think they are gold. I think when they talk in their “Dealer 20” groups or whatever they agree not to go a certain % discount. You don’t see too many Hackr dealers there, and certainly they don’t want them advertised.
BMWs, Volvos, MBs are a plenty in Winnetka, Naperville, etc… And there are plenty of buyers.
As long as by go in, you mean to your computer to email them and not drive in to the dealer
If they’re giving you different pricing based on credit score, they’re not necessarily giving you .00137
It is not as saturated as a market as the East or West coast and if people are willing to pay, there is no reason to sell them for less.
These are the numbers I get when I plug into the calculator and this includes zero drive off. So not sure why he’s saying $499. Also I haven’t even told him that I intend on doing 7 MSDs and that I qualify for the grad $1000 discount. I wish he would just send a worksheet instead of dodging every clarifying question I have.
Haha they’re being so shady I think going in might be helpful? I’m tired of sending emails and getting half responses.
That’d probably be the first time that’s happened
Being evasive over email is intended to get you in the door. Where they can really leverage their advantage over you.