discount in toronto, what i did, what happens in August?

kalch · 05-03-2007, 12:43 AM

I currently own a 2004 330 MSport cab and needed a new car. For the past few months I've been telling myself, don't spend so much on a car, don't spend so much on a car. Oh well, I ordered my 335 cab this week.

My friend did some research on his own telling a SA there were two of us to buy a car, and he immediately offered us both 3% off the MSRP, regardless of the car. We then were referred to another BMW dealer, and they weren't so flexible, but eventually offerred 3.25% off MSRP. They kept saying how hot the cabs were and they were selling and most people were not even getting discounts. Although I kinda believe this, anyone who is buying a $70K car usually is well educated, versed in some type of negotiations, and is confident with money management should just go in blindly to buy a car knowing there is some wiggle room.

MY friend still did buy his car at the place that offerred us 3.25% off.

Finally, went to the final dealership and he offerred, well kind of insisted that 3.5% off MSRP for the 335cab was it, the best he could do.

I gotta be honest, with two of us in there to buy two cars at once, and after reading these forums, I was kind of expecting a 4% or 5% discount, without too much hassel. Sure, everyone has to earn a living (the SA, Managers, dealers, etc), but by not really doing the best they could do one dealer lost a sale, and I had known that one dealer offered 3.5%, I would have leveraged my friend's X5 purchase as well, and maybe squeezed it to 4 or 4.5% on the cab.

I signed up. Took the tire insurance, too.

My car is to be delivered in August, but between now and then what happens if:
1) the residual of the car goes down?
2) the interest rate goes down or up?

i had to go with 7.25% (0.5% off due to repeat customer) lease rate and, I think, a 61% residual. Does this make sense?

`

CaptChaos · 05-03-2007, 01:20 AM

Quote:

Originally Posted by kalch

My car is to be delivered in August, but between now and then what happens if:
1) the residual of the car goes down?
2) the interest rate goes down or up?
`

I would ask BMWFS if they will protect you on both the interest rate and the residual until your car is delivered. I believe they can do it on the interest rate but may refuse to protect you on the residual.

328Toronto · 05-03-2007, 08:02 AM

if the rate goes up between now and delivery you will keep your current rate. if the rate goes down you will get the new lower rate (I had to remind my CA to adjust the lease contract!).

I don't think that applies to the residual though

Alex_bm · 05-03-2007, 12:25 PM

If the lease rate goes down you get the lower one. If residual goes down as well you payment will be recalculated based on the new residual.
-1% of interest and -1% on residual meant 20$ a month savings on 328i.
For cab the difference would be even more significant, depends on the total value of the lease.

05-03-2007, 12:43 AM	#1
kalch Lieutenant 22 Rep 528 Posts Drives: Gracie:E92 335 19" S/P/FL/CA Join Date: Apr 2007 Location: TORONTO iTrader: (0)	discount in toronto, what i did, what happens in August? I currently own a 2004 330 MSport cab and needed a new car. For the past few months I've been telling myself, don't spend so much on a car, don't spend so much on a car. Oh well, I ordered my 335 cab this week. My friend did some research on his own telling a SA there were two of us to buy a car, and he immediately offered us both 3% off the MSRP, regardless of the car. We then were referred to another BMW dealer, and they weren't so flexible, but eventually offerred 3.25% off MSRP. They kept saying how hot the cabs were and they were selling and most people were not even getting discounts. Although I kinda believe this, anyone who is buying a $70K car usually is well educated, versed in some type of negotiations, and is confident with money management should just go in blindly to buy a car knowing there is some wiggle room. MY friend still did buy his car at the place that offerred us 3.25% off. Finally, went to the final dealership and he offerred, well kind of insisted that 3.5% off MSRP for the 335cab was it, the best he could do. I gotta be honest, with two of us in there to buy two cars at once, and after reading these forums, I was kind of expecting a 4% or 5% discount, without too much hassel. Sure, everyone has to earn a living (the SA, Managers, dealers, etc), but by not really doing the best they could do one dealer lost a sale, and I had known that one dealer offered 3.5%, I would have leveraged my friend's X5 purchase as well, and maybe squeezed it to 4 or 4.5% on the cab. I signed up. Took the tire insurance, too. My car is to be delivered in August, but between now and then what happens if: 1) the residual of the car goes down? 2) the interest rate goes down or up? i had to go with 7.25% (0.5% off due to repeat customer) lease rate and, I think, a 61% residual. Does this make sense? `
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05-03-2007, 08:02 AM	#3
328Toronto Private First Class 5 Rep 158 Posts Drives: 2007 E90 328i Join Date: Mar 2007 Location: Toronto (Canada) iTrader: (0)	if the rate goes up between now and delivery you will keep your current rate. if the rate goes down you will get the new lower rate (I had to remind my CA to adjust the lease contract!). I don't think that applies to the residual though __________________ 2007 E90 328i \| Sparkling Graphite \| Black \| 6MT \|
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05-03-2007, 12:25 PM	#4
Alex_bm Major 175 Rep 1,040 Posts Drives: Giulia QV Join Date: Oct 2006 Location: Canada, Toronto iTrader: (1)	If the lease rate goes down you get the lower one. If residual goes down as well you payment will be recalculated based on the new residual. -1% of interest and -1% on residual meant 20$ a month savings on 328i. For cab the difference would be even more significant, depends on the total value of the lease.
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