[m to the power of 3]

I ordered the car in haste I believe. I went to the first dealer I found. Worked out what I wanted and ordered. After the fact I read the posts regarding how much people are paying for their 330 and get a feeling I overpaid.

Here are the specs:
Alpine White 330xi
* sport package
* premium package
* heated front seats
* black leather
* automatic
* Styling 162 wheels

Salesman said he couldn't go less than 2k over invoice. So I ended up getting a 3 yr lease with 15K miles/yr, putting $6k down, and getting $500 payments. He said putting that much down would bring down my payments but I thought it was alot.

At the time it sounded ok but now I think I paided too much. I really want the car but don't want to over pay.

What do you guys think does that sound like too much? I called the salesman after the fact and told him I was seeing people getting the same car for less. He said they could work something out if I bring prove of this from another dealer, which I cannot do since this was just from reading posts in this forum.

Should I just stick with it or fight the price?

[Sp82]

wow, that is alot..6k down on a lease??...thats alot, I got a 325i sport package, xenon's and got my car for 500 above invoice. I put down only $950. and my payments are under 500.

[Sp82]

im at $470

[ShadowfaxS3]

If you wreck your car driving it off the lot your insurance will pay off your balance... and you'll be out the $6k.

Did you put a deposit down on the order?

Invoice on that (with dest.) is $40,395, so $42,395
Figuring $625 bank fee, $6000 down, 62% residual(15k miles), .00195 MF, 36mo, and 7% sales tax
$428/mo per leaseguide.com

[m to the power of 3]

I put down $500 on the order.

So you think I still have time to fight the price or just cancel the order?

[no_exit]

That's a good deal for the dealer but not you. I would either renegotiate or walk away from the deal and start over with another dealer.

[ShadowfaxS3]

You can easily shave $500 going to another dealer so don't worry about walking.

Go to leaseguide.com and run the numbers. Make notes of how it calculates it. Go back and tell him since the agreement was $2k over and $6k down you want $428/mo or a detailed explanation of how he got $500/mo.

You'd be best off going straight to the finance manager as the sales guys will just jerk you around for hours. (My sales guy was more than happy to waste several hours with me "negotiating" the lease yet claimed no knowledge of money factors, bank fee, residual, etc).

Negotiate the selling price with the sales guy and the lease info with the finance guy. Make sure you get their numbers, there's only one way BMW FS calculates a lease, but there multiple ways for the dealer to pad it.

[CALIF65GM]

$6k down on a lease is too much.

I think you over-paid a bit, but keep in mind xi's are very popular back East. Lot of people with the great deals are talking about i's.

[gscone]

$6k down? That is insane!!!!

[m to the power of 3]

I feel the same way. So I went to the dealer last night and talked to the same salesman. We went over all the details of the lease.

msrp: 44K, mf: .0025, etc..

The thing that scared me was he said just the msrp has to do with the lease and not the price we negotiated on (2k over invoice) so from then on I didn't trust the guy. He basically said that i'm not putting 6k down, i'm actually just putting 4k down plus the taxes, security and 1 month. To make a long story short I told him I wasn't happy with the deal and was going to another dealer. He said to go and get a better deal and bring it to him and they would work something out.

So after that I went to another dealer and got roughly the same deal again. And that was with 1K over invoice. So I am pretty lost here. I probably will go to other dealers but I don't have high hopes.

Any suggestions?

[kickpoint]

I hate dealers like that. Numbers are numbers. they don't lie. Ask the two dealers to give you all of the relevant numbers. What you deed is:

MSRP
Actual Sale Price
Aquisition Fee (625 - 825)
Dealer Processing Fees
Any other fees
Money Factor
Residual

You can imput all of that information into a lease calculator and get your own number. There shoud be no veriance if they are disclosing everything. If you like the finance manager, then you can ask him to go over all of this with you, full disclosure. Then you can write down, in front of him, these numbers, letting him know that you'll do some verification.

Once you have all the numbers, you can do a true dealer comparison. My adive is not to put 6k down on a lease. Even if you are going to buy it out after the 3years, lease rates are so agressive it just makes more sense to put the cash into an interest bearing account and have it after 3 years and then some. the monthly payment fear is something the dealer can play off of. So your payment is less per month, but your out $6,000 right away. Putting 6k upfront is worse then paying $166.67 a month for 36 months. You keep the interest not the bank. In fact, have them run it with and without the 6k to see how much more. I think you'll find that it's close to $166.67, in which case it's a no brainer. Keep your cash.

I would also recomend that you dump the dealer. They sound like they're taking advantage of you, and that's never a good start. Talk to the sales manager and tell them that you want a clear explaination or you walk. That is no way to do business.

About your $500, there probably wasn't a non-refundable clause in your purchase agreement. Let them know that they can credit your card, please tell me you used a credit card, as soon as possible. I say that becasue if they jerk you, call your credit card company and explain. They'll get your money back. Unless it say nonrefundable in writing, you're holding all of the cards.

Sorry for the long post, but I just went through much of the same thing. this big twist for me was I am dealing with a great sales rep, and finance manager. It was my own ignorance that got me innto a weak deal to start. I have since renegotiate on much better terms. I shared the responisiblity by conceeding to a price higher then what was availble on the market. I'm getting $960 over invoice. Afterall, fair is fair, and the dealer has been honest with me.

[Lucid4000]

You came out of pocket 6k. What are you nuts. You never come out of pocket that much for a lease. Only come out if you want tax's and fee's.

[m to the power of 3]

This sucks because my car is almost here and my dealer doesn't want to change the numbers. I'm going back to talk to more dealers around here and try to get a better deal and try to bring it back to them so they can match it. The only reason I haven't dumped that dealer is because I waited all this time and knowing the car is here already makes me hesitate.

I'm thinking if all goes wrong i'll end up going 4K out of pocket and get monthly payments of $550. Sounds a bit better.

[kickpoint]

It's your money, but get over the monthly payment thing. You can put $40,000 down and have a much smaller monthly. You need to concern yourself with the actual sale price of the car, and the details of the financing. what are they not budging from? You don't really know unless they give you all of the variables. I'm just like you in regard to have to have my bimmer now, but throwing money away because of my own impatients is not bright.

Have you used your own lease calulator? Do youself a favor and go to http://www.leaseguide.com/calc.htm. Call the dealer to get all of the required numbers to fill this out correctly, and then play. Reduce the sale price to a better more reasonable number and see what happens. Theorentically they should be fine with given you the information you need, because they should be trying to make you feel better about the deal.

[m to the power of 3]

I'm going to another dealer today to get some numbers. I called my dealer yesterday and the saleman and the lease manager were not in but should be in today. I'll get the numbers from them and see what the are giving me.

So for an msrp of 44k, what do you think would be a good down payment and monthly payment?

[gscone]

Elite- Which dealership did you go to on LI?

[m to the power of 3]

Hassel in freeport.

[gscone]

Originally Posted by elite330

Hassel in freeport.

Chk ya PM.

[m to the power of 3]

Numbers I got from the dealer
MSRP : 44K
Actual Sale Price : 1K over invoice
Aquisition Fee 625
Dealer Processing Fees 45
Any other fees : security $600, first month, 4K down payment
Money Factor .0025
Residual 61%

monthly payment : $558 with taxes.

Still think its too much for putting 4k down.

[m to the power of 3]

He also mentioned a 18.11% tax on the car. Whats that about?

[kickpoint]

Originally Posted by elite330

He also mentioned a 18.11% tax on the car. Whats that about?

I would recomend you ask him. Let them give you the full explaination, until you are sitisfaied with the answer, then you check verifiy it for yourself. Dealers will not provide you with more information then you are requesting. This is how they maintain controll, the upper hand. Remember,they are profitting from you. You, like the rest of us, are making one of the worst financial decision possible by buying a new, not to mention BMW, car. They owe you all the answers, and you don't have to appologize even once for having to ask them.

[m to the power of 3]

Thanks kickpoint, tomorrow i plan to be there for a while going over all the numbers.