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BMW 3-Series (E90 E92) Forum
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Recent change in Money Factor and Residual Factor
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03-26-2006, 04:10 PM | #1 |
KayG
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Recent change in Money Factor and Residual Factor
I have been in the process of buying a new E90 for the past 2 months.
My dealer, Pacific BMW gave me a quote for $520/month (24 months) with $1450 drive off for a car with a MSRP of $39120. The selling price is $36925 including destination and handling. Back then he had used a money factor of 2.65 and a residual factor of 76%. The dealer had sold the same car to one of my friends for 525/month (24 month lease), basically the same terms. So he ordered the car on the 3rd of February, and he got the car last week. But while ordering the car he told me that it would be great if I bought the car, but he never asked me to sign any paper work. So the deal was like, I will lease the car when he gets it, but technically I have not ordered the car. So I wait untill now, and I never get my credit application in untill the car gets here. Then on the 23rd of March, I get the application stuff done, and my sales guy calls me up saying that the monthly payments have changed. He sends me a new quote with a money factor of 2.9 and Residual Value of 73%. He increased the monthly payments to $570/month and drive off to $1900. I just wanted to confirm that has BMW financial changed the lease factors in the past two months, and if yes, can I do anything to get this dealer to give me the old quote price. |
03-26-2006, 04:27 PM | #2 |
First Lieutenant
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I think if you didnt sign anything or get the approval two months ago you may be SOL. They did change...I posted kinda the exact opposite question yest b/c of the change.
M.
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