Location: Houston, TX
The values are as stated in the calculator above. However, the monthly is $599 offered. $0 down, first payment + old car balance due at signing.
I have a trade in with negative equity. They are giving me more money to cover the car than what it was appraised for. Appraised at 7K offering 10K in order to help pay off balance. Edmunds appraised it at 8K.
You need to remove the trade from the deal to properly evaluate how good or bad the new car deal is first.
Also what do you mean by ‘old car balance due at signing’?
If you lower your selling price by $3k to account for the dealer’s inflated trade in, you’re at around 17% pre-incentive, which is a fine deal on a loaner 330i.
That said, have you compared other offers from Carvana or Vroom? If everyone else is offering you say $8-9k for your trade but this dealer is at $7k, then they’re really not offering that much more, so they’re more realistically around 13-14% pre-incentive on the new car, which is ok but not great.
The only value I left as default was the gov fees which is equivalent to the doc fees, license, title, inspection fees. I didn’t see an area for this so I left it at $400 to match these fees. All other values come from the dealer.
Cash down is for my trade. I owe a lot. It needs about the same amount in repairs. Basically, I am trying not to have to deal with repairs for a while. I owe $17 they are giving $9K…I have to cover the remaining $8K. (don’t judge me on this part…I just really want to get rid of it. I’ve spent so much in repairs and now the drive train malfunction appears and needs lots more work.)
Not judging just asking for the details, make, model, miles, payoff and current term on loan/bank. It’s hard for us to give solid advice without details. I might not be able to offer any advice, but without all the details I definitely can’t