Originally Posted by en1gma
The thing to do (as I've found) is to get a quote from Lombard Direct/ Lex/ LloydsTSB/ Tesco/ Sainsburys / your bank /whoever at a market competitive rate, print it out, and take it to the dealer and say "match that, or I'm going with them".
This "proves" to the dealer you want the car, and that you are gonna do it on finance - either they do you a deal to meet it (and then get the extra commission for selling you finance) or you will will go elsewhere for the loan...
Also, try to do it towards the end of the month when they need to ensure they hit targets
You need to get a rapport going with the Business Manager (who is responsible for sorting the finance), and not just the Sales guy (who you have hopefully screwed for CD multichanger, mats, and possibly Bluetooth and/or other extras
)... as the Business Manager is the one who will assess the risk and call BMW Finance directly to lower your risk/APR. If s/he likes you...
Emminently sensible advice. I did call BMW finance to see if they would deal with me directly or whether I had to go through the dealer. The reply was that if I wanted a BMW from a franchised dealer it had to be arranged via the dealer network, however, if I wanted to finance another make of car they could provide a quote direct to me. Sneaky eh?
I have dealt with the business manager from my dealership before, nice chap, but I will still look at getting alternative quotes because I know he wants my business. I wonder if anyone who reads this thread has direct knowledge of how a dealer works and how much commission they receive for a finance deal with BMW?