Here is what BMWUSA is currently offering for the X1 2.8 X-Drive:
Quote:
Well equipped including great features such as Premium Package (Leather, Comfort Access, Moonroof, Power Front Seats), Heated Front Seats, iPod/USB Adapter and Destination charges.
$339*/month for 36 months. $750 Option Allowance, $500 Loyalty Cash are included in payment.
Vehicle Registered outside N.Y.
• $339 First months payment
• $2,500 Down payment
• $0 Security Deposit
• $725 Acquisition fee
• $3,564 Cash due at signing
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If we use the formula: for every $1,000 you put down, the payment decreases by $30 a month, then:
$339/mo + $116 =
$455/mo
So that means that BMW is offering approximately
$455 a month with zero down for a car with the options above (compare that car to your MSRP and this should give you an idea of where your deal stands). BMW is able to do better numbers for the car mentioned above versus one that is similarly built but not with the same exact options.
You are at: $406+ $28 ( about $28 for the extra $900 you're putting down) =
$434 a month with zero down.
Now you can compare.
The dealer basically took off about $1k off the price of the car from what BMW is advertising.
If BMW is offering $455 a month with zero down for this car, in my opinion, you should be able to do better than $400 a month. I would shoot for $370 with zero down and you can also shop this number around to see how dealers feel about it.
If anyone knows better, feel free to correct me if I'm wrong. However, I have had a very good track records thus far using that formula... being able to get the lowest numbers in the market that most dealers could not even match.
PS. I am also in the market for the X1/X3 so I'll keep you updated.