[chicagoshark]

Hi all. was working a deal on a 340xi and the numbers don't add up.

I knew it wasn't a great deal, but I was ok to consider it, but i think they are trying to pull a fast one as well.

list 65240. sell price 62050. (i know its not great, i didn't except it, but its a starting point.)
residual 0.6 15 k miles
MF .00138 much less with the MSD.

they calculate it at 880.

i re-did the math, using their method of tax up front, or adding tax at the end, and it was 10 bucks off. so i guess its ok.
but thats a ton of money, no?

[Kabrich]

Google is your friend

http://www.bmwblog.com/2015/01/02/il...ease-payments/

[Michael Schott]

You are getting screwed. I don't know the current money factor but .00138 sounds high. With 7 MSD's this is .00089. Are you getting any incentives?

Are you paying anything out of pocket upfront like title, taxes, plates, acquisition fee, etc?

My advice is to find another dealer if this one won't do better. Aim for a cap reduced price of closer to $61,000 plus incentives if available.

[DocB]

Walk away. Sell price is high, MF is high.

[JamRWS6]

You have room for 2-3k more off selling price. The money factor is about right not including MSDs; those should reduce that much further. That would be an ok deal. At the end of the day you're still looking at a 65k car.

[tturedraider]

(62050 + 39144) x .00138 = $139.65, interest aka rent
(62050 - 39144) / 36 = $636.28, depreciation

$140 + $636 = $776 + taxes.

.00138 is the current money factor. If it was marked up it probably would be by either .0002 or .0004.

$65,240 x .93 ~ $60,675 invoice, approximately.

What dealer is the car at?

[pikkagtr]

holy cow thats F80 monies right there

[chicagoshark]

I got it down more. Down to 61k. The8.25 sales tax is a killer. So while not a smoking deal. I'm happy enough. I could argued more maybe for an additional 15 bucks a month, but it's fine.

[nicknaz]

Originally Posted by pikkagtr

holy cow thats F80 monies right there

Agreed. My prev car (Z435) had the same MSRP but was $589/mo incl CA tax because of big discount and higher residual.

I could see why OP would get xi car, and that's a fully loaded car vs. a stripped F80 as well

I personally wouldn't be comfortable leasing a 3er of any stripe (including M3) for almost $900/mo, and for a non M car, I'd target $500 over invoice before any incentives were applied. I think the regular cars should be pretty achievable as below invoice deals

[tturedraider]

Originally Posted by chicagoshark

I got it down more. Down to 61k. The8.25 sales tax is a killer. So while not a smoking deal. I'm happy enough. I could argued more maybe for an additional 15 bucks a month, but it's fine.

Congrats! Not a bad sale price and the money factor was the current base rate. Did you do MSDs? It's the internet....pics or it didn't happen. Which dealer did you use?

[BEM-S4]

Leasing in IL is always horrible compared to anyplace else. The taxes kill you.

[chicagoshark]

Originally Posted by tturedraider

Congrats! Not a bad sale price and the money factor was the current base rate. Did you do MSDs? It's the internet....pics or it didn't happen. Which dealer did you use?

I dont have any pics except for a receipt for my deposit...

the money factor was the current, which was offset by the MSD. BMW westmont. Swell people. i feel its fair, but those taxes... brother. I investigated another dealer, and their deal was WORSE. i guess its all market dependent. But i think in total i was about 400-500 over invoice. not a lot incentives for me, unfortunately at this time.

[Beowulf65]

Originally Posted by chicagoshark

I got it down more. Down to 61k. The8.25 sales tax is a killer. So while not a smoking deal. I'm happy enough. I could argued more maybe for an additional 15 bucks a month, but it's fine.

Good stuff! Congratulations on a happy negotiation. I don't think anyone was trying to "screw you"...all dealerships and sales people are in business to make a living by making money. If a customer is happy to pay more...good. If a customer is not willing to pay a certain amount and the market as a whole will not either...then the price will come down. No dealer will offer you the rock bottom price to start...that would mean the dealer is working for you and not themselves. Not likely to stay viable in the car sales world for long with that approach. You will not win the tennis match if you serve and then jump over to the other side of the net.

[chicagoshark]

Originally Posted by Beowulf65

Good stuff! Congratulations on a happy negotiation. I don't think anyone was trying to "screw you"...all dealerships and sales people are in business to make a living by making money. If a customer is happy to pay more...good. If a customer is not willing to pay a certain amount and the market as a whole will not either...then the price will come down. No dealer will offer you the rock bottom price to start...that would mean the dealer is working for you and not themselves. Not likely to stay viable in the car sales world for long with that approach. You will not win the tennis match if you serve and then jump over to the other side of the net.

i thought i was being screwed based on the way they were calculating the payments based on the numbers and how they were calculating the tax.

then i found the fault in my calculation... so i believe they were trying to make money, not scre me, per se. if that makes sense.

[Beowulf65]

Originally Posted by chicagoshark

i thought i was being screwed based on the way they were calculating the payments based on the numbers and how they were calculating the tax.

then i found the fault in my calculation... so i believe they were trying to make money, not scre me, per se. if that makes sense.

Yes, I hear you and it does make sense...and anyone can make a mistake. My dealer quoted a finance rate that I knew was wrong, as in too low. I pointed it out and he apologized and corrected it. BMWFS would never have agreed to it in any case.