Location: Bay Area, North Cal
Hi, I’m a n00b in hacking. I’m seeking for a BMW 2020 330i. So far I contact 2 dealers nearby, but looks not good. Not sure what should I do. I’m qualified for new grad and corporate fleet.
Here’s some number I got (before incentives I qualified):
Dealer1: New 2020 330i
Vehicle Price $46,740.00
Dealer Savings - $4,190.00 (8.9% off MSRP)
Residual: Unknown, but seems match 59% in calculator
At least it’s transparent for this dealer, though the selling prices looks not good. MF is also marked up. When I asked for 12% off MSRP and 0.00118 MF, the dealer said it’s impossible
Dealer 2: Loaner Car with 3333 miles
I asked the sales manager several question in email to figure out what is the selling price, RV, MF, etc. But didn’t get replied. Though loaner has a good selling price, the monthly payment looks pretty high. Not sure what is added into it. Even applying new grad and corporate fleet, monthly payment is still around 500, which is ridiculous for 330i loaner.
What should I do at this time? Should I contact more dealers? Is there any rule I should follow when I contact to dealer? Thanks!
I would start emailing SoCal dealers.
I think the incentive this month is 1750 in your area. So I think they might not be discounting it as heavily as you think. So between a minimal dealer discount and a marked up money factor, I would move on to another dealership
I’m confused for that $149. Is that some trick played by dealer? As customer can we ask to remove that
I’m not super hurry to get a car though, but if there’s good deal I’m in. Looks like NorCal can also get some good price. For example, Signed: New 330i Msport - 409 / month (NorCal) .
Thanks for replying. Not sure what does “sent” mean and how it affects the discounting. Any wiki I should learn?
That was almost two months ago. Incentives change, deal structures are a lot different. Plus that guy put a lot of work into it.
Suggestion here is to step back, and really read up leasing 101 and the deals that go on here and in the marketplace. Either that or work with a broker. NorCal, SoCal, plenty of options and they will save you a whole lot of time and grief
Pretty sure he meant “incentives” - autocorrect mistake
Yeah I think you should contact other dealers in North Cal, So Cal, other states as well!
Yep. Laying out on the patio dictating in my iPad lol.
OK. I also googled it. How should we deal with this kind of garbage if dealer says it a must?
Tell them to not charge for it
OP - unless you’re signing today, not sure if July incentives will extend into this weekend or if changes are coming up.
If you’re going to take your time, suggest u also check on the Edmunds forum for the appropriate MF, RV and incentives. Good luck!
Yeah, terrible deal. You want a 330i loaner? Have a couple left in the Bay @ ~15% off and buy rate. Let me know, but these are going really quickly…
Watch out for those AutoNation price sheets like the one in your first deal. That number breakdown at the top is for the purchase and who knows what numbers they used to calculate the numbers for the lease. Trust me, I just went through it with them.
MF should be .00099 (well at least til the end of the day)
I think you really need to consider going with a broker for the deal. I’ve been trying to work a loaner deal for the past few weeks (looking for a specific option) in the NYC metro and dealers are just not willing to discount loaners like they may have been before. The closest I was able to get with ~10 dealers was 12.8% with base MF upon approval. It seems like it’ll be really difficult to get somebody up to 15-17% now.
If a broker can get you an extra 1% discount, they basically pay for themselves.
Yeah HK. As we discussed, I’m not super urgent in getting a car and waiting for H1B becomes effective. So I’m spending some time to learn some knowledge about leasing. Please keep me updated if there’s any great deal (I’m looking for 330i new and loaner). I’m ready for purchase anytime if it’s a really good deal. Thanks
Yeah. Not sure why the market changes these month. Since COVID is more severe, car should be even cheaper … 12.8% is a good deal I think if it’s a new car. Do you plan to sign it?