I am pissed!!

///M PWR 00 · 05-15-2008, 11:29 PM

I was just at the dealer about 2 weeks ago pricing out a new E93 335i lease. After negotiating and crunching the numbers everything was set. I was looking to order the E93 so it would be built and shipped to me just in time for when my E46 M3 goes back on lease. So I go today to order it and my salesman tells me the May lease rates have changed and I will see an increase in my monthly payment. Now I am like damn, whats the damage? I got quoted an extra 100$ or so added to my monthly payment!!!! I was shocked that it could increase by that much. I didnt put the order in for the car. I wanted to speak to the sales manager which whom Ive known and have been dealing with for a while now almost 8 years, but he was out today. I am hoping he can somehow get me last months rate even though I didnt officially order the car back then. I am a great customer for him and I think if it can be done he would do it. I myself have purchased 4 cars from him within the past 7 years and have brought at least 10 family members/friends to him and they all bought cars from him.

If that cant be done I am seriously considering the M3 being that it will be 240$ more per month. I mean 240$ isnt chump change, but to step up to a M3 it just might be worth it. Either that, or I finance the E93 335 instead of lease, which would be smarter in the long run!

radix · 05-15-2008, 11:33 PM

Did you fill out a credit application? I thought if you already filled out a credit application you should've been locked into lesser of the current rate or any future rate decrease prior to signing.

Sam Da Man · 05-15-2008, 11:35 PM

doesnt lock in until you actually order

bmwpdlr · 05-15-2008, 11:44 PM

sounds like a loaded question.

lease an M3 for $xxxx.xx or purchase a 335i convertible for $xxxx.xx.............I imagine you are looking at the same payment in both of those scenarios.. I heard recently (from a very reliable source) that BMWFS has dramatically raised moneyfactor and lowered residuals so, I don't know when you are going to pull the trigger but I would be willing to bet those M3 lease #s won't hold for very long either.

as for whether the dealer can help.... I bet because of your past patronage he was already giving you a square deal and doesn't have the margin to perform the miracle of "eating" the rate difference.

given the vague outline, I would lease the M3. You're protected from future depreciation and get to drive more car for your payment.

p.s. I maintain that I am not a spy.....

jwed335i · 05-15-2008, 11:59 PM

The money factor in April for the convertible was .00245 and went down on May 6 to .00225. There is suppose to be a price increase for June but that won't make that much difference in your payment. Sounds like BS.

Crazy Bimmer · 05-16-2008, 12:02 AM

Quote:

Originally Posted by jwed335i

The money factor in April for the convertible was .00245 and went down on May 6 to .00225. There is suppose to be a price increase for June but that won't make that much difference in your payment. Sounds like BS.

Yep but the residual went from 59% to 54%, that hurts.

itsxtian · 05-16-2008, 12:59 AM

They should be willing to work with you. Car dealerships love repeat customers and from the sounds of your post you are probably one of their all-stars. It costs them a lot more to find more loyal customers, so push them to the price you originally agreed on.

best of luck.

yoyeewee · 05-16-2008, 01:58 AM

if u didn't have the dealership lock in the rate for you by May 5th with a credit application submitted to BMW FS, you are absolutely screwed. the residuals went down a lot this month because BMW purposely want to detract people from leasing. they have too many liabilities right now with leases therefore want prospective buyers to buy their BMWs. that's why BMW is pushing the 3.9% APR for up to 60 months versus advertising and pushing low lease payments. sorry to hear about your situation. if your dealership can't do anything, try calling BMW FS at 1-800-578-5000 and tell them that you're a repeat customer and see if they're willing to make an exception for you.

PIMPIN THE E92 · 05-16-2008, 02:08 AM

LEASE THE M3 FTW!!!! Just think of it this way, you'd end up spending the 240 a month on mods....Just get the M3...You'll have the sickest car on the street!

///M PWR 00 · 05-18-2008, 02:00 PM

Although I couldnt get the May numbers, I still pulled the trigger on the 335 vert. I cant wait any longer, if I do I will be out of a car for a while because my E46 M3 goes back soon. You guys think the numbers will get better for June or July? I should be taking delivery of the car first week of July. I am hoping the numbers get better and I can get a better monthly paymen

kwakr738 · 05-18-2008, 03:04 PM

If your dealer can locate you a car of your choice already in the US before the change in residual value, they may be able to work out a deal.

yoyeewee · 05-18-2008, 03:20 PM

Quote:

Originally Posted by ///M PWR 00

Although I couldnt get the May numbers, I still pulled the trigger on the 335 vert. I cant wait any longer, if I do I will be out of a car for a while because my E46 M3 goes back soon. You guys think the numbers will get better for June or July? I should be taking delivery of the car first week of July. I am hoping the numbers get better and I can get a better monthly paymen

The current money factors and residuals are in effect until June 30.

Dubbedoutbimmer · 05-18-2008, 03:24 PM

Quote:

Originally Posted by Sam Da Man

doesnt lock in until you actually order

deff not true once a credit app is submitted the rate is locked for 60 days

Aces_High · 05-18-2008, 03:28 PM

Quote:

Originally Posted by Dubbedoutbimmer

deff not true once a credit app is submitted the rate is locked for 60 days

ERR....i was told it is 90 days......

CALIF65GM · 05-18-2008, 04:03 PM

Quote:

Originally Posted by Aces_High

ERR....i was told it is 90 days......

Yes in CA. The rest of the country it's 60-days.

yoyeewee · 05-18-2008, 04:25 PM

Quote:

Originally Posted by CALIF65GM

Yes in CA. The rest of the country it's 60-days.

I just spoke with a friend who's a finance manager at a California BMW dealership.

It used to be 90 days for California dealers. But BMW FS has reverted back to the 60 days approval time-frame like the rest of the country.

However, the 60 days approval for your locked rate is from the time that the program ends, NOT 60 days from the credit application submission date.

For example, if you go to a BMW dealership today and submit a credit application to BMW FS, this approval is good for 60 days from June 30th, not 60 days from today. The current lease and residual program dates are from May 6, 2008 to June 30, 2008.

///M PWR 00 · 05-18-2008, 07:42 PM

Im hoping July is better.... I would be able to get the July numbers as long as I havent taken delivery of the car yet, correct?

JSpira · 05-18-2008, 08:01 PM

Quote:

Originally Posted by ///M PWR 00

Although I couldnt get the May numbers,

Why not?

///M PWR 00 · 05-18-2008, 09:43 PM

Quote:

Originally Posted by JSpira

Why not?

They wouldnt budge, they said its not in the control of the dealership. I told the sales manager I would go to a different dealership to see what can be done and he wished me luck with my new car.... So I doubt he would want to lose a repeat customer if there was something he could do. Sucks..... But I didnt sign anything or order the car when I got that pricing for last months numbers

bmwpdlr · 05-18-2008, 09:47 PM

Quote:

Originally Posted by ///M PWR 00

Although I couldnt get the May numbers, I still pulled the trigger on the 335 vert. I cant wait any longer, if I do I will be out of a car for a while because my E46 M3 goes back soon. You guys think the numbers will get better for June or July? I should be taking delivery of the car first week of July. I am hoping the numbers get better and I can get a better monthly paymen

So..........Are you an owner?

yoyeewee · 05-18-2008, 09:50 PM

Quote:

Originally Posted by ///M PWR 00

Im hoping July is better.... I would be able to get the July numbers as long as I havent taken delivery of the car yet, correct?

yes, you can use July's rates/residuals if you wait til July.

JSpira · 05-18-2008, 11:42 PM

Quote:

Originally Posted by ///M PWR 00

They wouldnt budge, they said its not in the control of the dealership. I told the sales manager I would go to a different dealership to see what can be done and he wished me luck with my new car.... So I doubt he would want to lose a repeat customer if there was something he could do. Sucks..... But I didnt sign anything or order the car when I got that pricing for last months numbers

I don´t understand - it´s still May on my calendar and they won´t give you May rates?

05-15-2008, 11:29 PM	#1
///M PWR 00 Captain 91 Rep 938 Posts Drives: Porsche Join Date: Mar 2008 Location: Yonkers, NY iTrader: (0)	I am pissed!! I was just at the dealer about 2 weeks ago pricing out a new E93 335i lease. After negotiating and crunching the numbers everything was set. I was looking to order the E93 so it would be built and shipped to me just in time for when my E46 M3 goes back on lease. So I go today to order it and my salesman tells me the May lease rates have changed and I will see an increase in my monthly payment. Now I am like damn, whats the damage? I got quoted an extra 100$ or so added to my monthly payment!!!! I was shocked that it could increase by that much. I didnt put the order in for the car. I wanted to speak to the sales manager which whom Ive known and have been dealing with for a while now almost 8 years, but he was out today. I am hoping he can somehow get me last months rate even though I didnt officially order the car back then. I am a great customer for him and I think if it can be done he would do it. I myself have purchased 4 cars from him within the past 7 years and have brought at least 10 family members/friends to him and they all bought cars from him. If that cant be done I am seriously considering the M3 being that it will be 240$ more per month. I mean 240$ isnt chump change, but to step up to a M3 it just might be worth it. Either that, or I finance the E93 335 instead of lease, which would be smarter in the long run!
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05-15-2008, 11:33 PM	#2
radix you know he kills little girls like you 388 Rep 892 Posts Drives: - Join Date: Feb 2008 Location: - iTrader: (0)	Did you fill out a credit application? I thought if you already filled out a credit application you should've been locked into lesser of the current rate or any future rate decrease prior to signing.
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05-15-2008, 11:35 PM	#3
Sam Da Man Lieutenant Colonel 69 Rep 1,688 Posts Drives: SPACE GRAY '07 328i Coupe Join Date: Jul 2007 Location: Central NJ iTrader: (3)	doesnt lock in until you actually order
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05-15-2008, 11:44 PM	#4
bmwpdlr bmwpdlr 9 Rep 36 Posts Drives: 2008 335i Convertible Join Date: Apr 2008 Location: Denver, Co iTrader: (0) Garage List 2005 X5 4.8is [0.00] 2008 335i convertible [0.00]	sounds like a loaded question. lease an M3 for $xxxx.xx or purchase a 335i convertible for $xxxx.xx.............I imagine you are looking at the same payment in both of those scenarios.. I heard recently (from a very reliable source) that BMWFS has dramatically raised moneyfactor and lowered residuals so, I don't know when you are going to pull the trigger but I would be willing to bet those M3 lease #s won't hold for very long either. as for whether the dealer can help.... I bet because of your past patronage he was already giving you a square deal and doesn't have the margin to perform the miracle of "eating" the rate difference. given the vague outline, I would lease the M3. You're protected from future depreciation and get to drive more car for your payment. p.s. I maintain that I am not a spy..... __________________ 335i convertible/step,sport,nav,iPod,etc.../black sapphire/black dakota/dinan flash/ Disclaimer: I have NO idea where that came from. I can't even spell modifikation.
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05-15-2008, 11:59 PM	#5
jwed335i Private 0 Rep 67 Posts Drives: 335i Join Date: Feb 2008 Location: USA iTrader: (0)	The money factor in April for the convertible was .00245 and went down on May 6 to .00225. There is suppose to be a price increase for June but that won't make that much difference in your payment. Sounds like BS.
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05-16-2008, 12:59 AM	#7
itsxtian Private First Class 12 Rep 189 Posts Drives: Nice Join Date: Mar 2008 Location: Los Angeles, CA iTrader: (0)	They should be willing to work with you. Car dealerships love repeat customers and from the sounds of your post you are probably one of their all-stars. It costs them a lot more to find more loyal customers, so push them to the price you originally agreed on. best of luck. __________________ e92 / Sparkling Metallic Graphite - Coral Red / Sports Package / Ipod Adapter / Steptronic
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05-16-2008, 01:58 AM	#8
yoyeewee Major 107 Rep 1,052 Posts Drives: 2007 BMW M6 coupe Join Date: Jul 2007 Location: Orange County, CA iTrader: (0) Garage List 2007 BMW M6 [0.00] Previous Ride 2006 ... [0.00] Previous Ride 2007 ... [8.00]	if u didn't have the dealership lock in the rate for you by May 5th with a credit application submitted to BMW FS, you are absolutely screwed. the residuals went down a lot this month because BMW purposely want to detract people from leasing. they have too many liabilities right now with leases therefore want prospective buyers to buy their BMWs. that's why BMW is pushing the 3.9% APR for up to 60 months versus advertising and pushing low lease payments. sorry to hear about your situation. if your dealership can't do anything, try calling BMW FS at 1-800-578-5000 and tell them that you're a repeat customer and see if they're willing to make an exception for you. __________________ 2008 335i coupe Atlantic Blue with Black Leather Steptronic ZSP ZPP NAV PDC COMFORT ACCESS REAR SUNSHADE HEATED SEATS HD RADIO SIRIUS USB/IPOD 20" Klassen K5.1 3-piece wheels w/Toyo Tires Job Design Body Kit M3 Trunk Spoiler Eisenmann Exhaust Eibach Pro-Kit Springs
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05-16-2008, 02:08 AM	#9
PIMPIN THE E92 Lieutenant 24 Rep 453 Posts Drives: E92 328 AW CR Join Date: Feb 2007 Location: So Cal iTrader: (5)	LEASE THE M3 FTW!!!! Just think of it this way, you'd end up spending the 240 a month on mods....Just get the M3...You'll have the sickest car on the street! __________________
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05-18-2008, 02:00 PM	#10
///M PWR 00 Captain 91 Rep 938 Posts Drives: Porsche Join Date: Mar 2008 Location: Yonkers, NY iTrader: (0)	Although I couldnt get the May numbers, I still pulled the trigger on the 335 vert. I cant wait any longer, if I do I will be out of a car for a while because my E46 M3 goes back soon. You guys think the numbers will get better for June or July? I should be taking delivery of the car first week of July. I am hoping the numbers get better and I can get a better monthly paymen
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05-18-2008, 03:04 PM	#11
kwakr738 e21 respect 34 Rep 599 Posts Drives: 2008 335xi Coupe Join Date: May 2008 Location: NYC iTrader: (0) Garage List 2008 335xi [0.00]	If your dealer can locate you a car of your choice already in the US before the change in residual value, they may be able to work out a deal.
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05-18-2008, 07:42 PM	#17
///M PWR 00 Captain 91 Rep 938 Posts Drives: Porsche Join Date: Mar 2008 Location: Yonkers, NY iTrader: (0)	Im hoping July is better.... I would be able to get the July numbers as long as I havent taken delivery of the car yet, correct?
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