After almost 12 years, my Mercedes Benz C230 is dying. My A/C stopped working ( I live in South Florida) and it is time for a new car. I would like to explore getting a BMW X1, but need to create a strategy from scratch. The 2015 models retail for ~$31k. I need help in developing a strategy and plan of action. Quick questions for you guys the experts:
*Should I buy at the end of the month or wait until labor day ( I must admit it would be challenging to survive without a/c)?
*How can I determine the lowest reasonable selling price?
*I live in South Florida, but was reading that if I expand my search to central and north Florida I could get a sweet deal. Any one with experience?
*How can I maximize rebates? I am no recent grad and I dont see any BMW driving events in the area.
*How can I maximize the value of my old car? Or should I keep it and sell it later?
*Finally; I would love your input on how to develop a strategy. My goal is to lease it for ~$200-$250 a month (I received a promo of $248 a month but they require $3,500 down plus tag, reg and other fees). My goal is zero down. I am planning on putting 7 security deposits as suggested in the site.
Thanks and looking forward to hearing from you guys.
A goal of $250/month will be quite ambitious. I haven’t seen anything that low for a BMW SUV.
I’d first check X1 inventories; I don’t think there are many 2015s around. Even if you get a large discount off MSRP, the lease program for it is so-so:
$250 is probably too ambitious. That $248 they offered you is likely also without taxes so you need to add that. The way i like to look at it is that $3500 cap cost reduction on a 36 mo lease is roughly $100/mo you’re paying upfront. So the deal you were offered is more like $350/mo with tag/reg/etc. I’m guessing that the MSDs on this car is prob going to get you $30-40/mo savings (this is a guess based on personal experience with a car with similar MSRP). I think aiming for a number in the lower $300s is more realistic.
as for the trade-in, i’d take it to carmax and see what they offer so you have an idea. Then go negotiate the new car and at the end tell them you wanna trade something in and let them absorb the car for the same price carmax gave you. They might offer you less but you can show them the carmax offer and insist they will most likely do it just so they can move the new car. Selling a car privately is a nightmare, yours is old, defective and not worth much, you might as well not hassle with it and get all these shady people come to your house and try to lowball you. At the end you won’t get more anyway and had to deal with trying to private sell the car.
