I have been shopping for a 328i Executive Demo. My question is how do I determine if there is further room in the price. Some dealers just list a price, others show MSRP less a dealer discount.
MSRP $49,100
Deal Discount $- 5,000
Internet Price $44,100
How much room is there in these prices? Is it reasonable to get 8-12% off the internet price or listed price or am I looking at minimal movement from these numbers.
I saw somewhere that you adjust the residual down by $0.20 per mile over 500. Is there a further discount?
Well, I think 20% of MSRP is reasonable. Let us take an example, Today I saw a discount of $8900 on $63945 new 535i. Assuming that price is without BF $1000 discount. That brings the total discount to 9900. If you qualify for employee discount add 1500, that sums total discount to $11400.
The total discount(11400) is 17.8% of MSRP. When we can get close to 18% on new car, I guess we can aim for at least 20%. Do the math and show them before asking for the price.
The above car, I mentioned got sold out in the evening. I am going to start my hunt from Friday. Let us see how it goes. I am aiming for 5 series demos. X3 is my second option.
I have, but often the lease does not work out because rebates are not included and buying back the miles reduces the residual quite a bit which pushes the up the price of the discount. It is easy to get below invoice on BMW’s, having said that. The X3 demos are leasing very well.
Would your numbers be cheaper if you don’t need the mileage penalty? In other words, in your example, starting with a car with 5,000 miles, and doing a 3 year lease, but only putting on 25,000 miles or fewer, would the payment be less than you have calculated?
I didn’t sign the contract yet but gave my credit card info and signed on the quote today. Now I feel bad about the deal. I could get new car for another $20 or $30. Can I walk away now? One option is going for a new car from same dealer. Any suggestions ?
@SUV I agree with 305. For future reference, I wouldn’t sign anything or provide any type of payment info until you’re actually ready to complete the deal.
I think you should have already had one quote set for the new car and one quote for the demo, that way you already had two discussed scenarios, and if you wanted to pivot from one to the other, it would be a seamless pivot.
From what you said, it sounds like now you want to go back to the drawing board and figure out a whole new deal based on a new vehicle.
There’s nothing wrong with coming to a certain “understanding”, and saying that you think you’re close to a deal, but you’re going to give it a night’s rest to think about it or whatever it is that you need to do so that you can feel comfortable about making a decision, sometimes that little resistance works to your advantage, as the dealer will start offering a little more in terms of concessions to try to get a deal done.
The business has obviously changed; my dad was telling me the other day about a dealer he used to do with business with regularly, and the owner used to have a policy of not letting customers leave until they bought a car. He was just a guy who wanted to sell cars. It feels like now, especially where I am, dealers are just looking for the easiest prey they can rip-off, meanwhile they’re willing to let the educated consumers, the few and far between, take their business elsewhere.
At the end of the day, do what’s best for you. It’s your money, and they need to sell you the car, that’s what they’re in business to do.