I’m currently thinking of financing an X7 or a Q7 (I need more space). I’m leaning toward the X7 (I love the B58) since I currently have a paid-off 2018 X3 M40i, which I bought new and had for about 7 years or so, and would be trading in. I’ve gotten trade-in offers ranging from 17,000 to 20,000 in the past month or so. So I have a 2 part question for you Hackrs!
For BMW, I did see on Edmunds that BMW currently offers a 1.99% finance rate, Loyalty of $1,000, and a Lender offer of $1,500. I am assuming Loyalty and Lender is stackable, but can’t be combined with the 1.99% rate? Is 10% off before incentives possible on an x7-40i?
For Audi, I qualify for Costco and have the certificate ready to go. On local dealership websites, I see an additional incentive for $3000 National Customer Credit, which expires at the end of the month. Since a re-design is coming at the end of the year, is 10% or more off MSRP possible before any incentives? My offer for the Audi would be 10% off MSRP, plus the $3K and $2K Costco. Is this reasonable?
Got this offer sheet from a local dealership. Minus the junk fees (highlighted), it is almost 10% off before incentives. How does it look? Any more meat left on this bone?
The best strategy is knowing your target based on Marketplace which was 12% the last I checked and making offers.
Your goal by making offers is to implicitly substitute profit maximization for volume maximization and ease of sale for the dealer.
PS: This quote reflects a true discount of $8,400 (10k less $1600 of fluff added back) which is 8.3%. So you’re almost 4% off your target.
PPS: once you ask for a quote from a dealer you’re letting them anchor themselves to the number they put in front of you. Not a good strategy going forward.
I did get two quotes from them. They were better then what the dealer gave. The only thing is that both vehicles are out of state, so i would not get the tax savings for my trade.
I agree, that is my goal. I would only get one if the discount is substantially bigger than on the X7. I am hoping that with a redesign Q7 just around the corner the discounts should be 12% and up
I don’t know what texas does but that sucks if it’s the case. NJ/NY taxes suck but we can trade our cars at almost any dealer in the country and get a tax credit.
That is nowhere near enough considering an exponentially more modern car like an X7 can be bought for 12% off before rebates and a very attractive APR.
It is the same for Texas too! You get a buyers agreement and paperwork that reflects the selling price minus trade in and take it to a county tax office and pay the 6.25% on the final price and they give you new plates and sticker across the counter. Problem is out of state dealers won’t allow you to do this if you finance - they will handle this for you. I have bought cars from Kansas and the dealer handled TX registration and taxes for me
In the deal I got through a broker, the trade was to be handled separately. So, although the discount off MSRP was better, I am loosing on the tax savings.
