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Comments
You could ship a train for that price. LOL.
Does the TMV include the incentive ($4200)? I believe a fair offer is $36,340.00 ($TMV-$4200+$400).
Edmunds TMV doesn't mean squat to the dealer, and I doubt it takes into account the incentive, because the incentive has only been available since March 1st..
regards,
kyfdx
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TMV is pretty worthless. even when it's current, it's worthless as it's showing you what 50% of the buyers got. do you care if 50% got that deal? your goal is to get the best deal, not what everybody gets.
While I really would like the steel blue, I don't appreciate his changing stories. Do you think there will be an incentive in April? I'd like to close the deal before the end of March, but if this drags on a bit, I might not be able to do so.
It is hard to get a bottom dollar deal on a car that isn't available on the lot..
I personally, would never pay more than a couple hundred dollars to get the color I wanted.. but, others put more value on that..
I'm sure there will be some kind of incentive in April, but occasionally they put the incentives on the lease side... My best guess is that the cash incentives will continue as is.. It is a lot harder to change those, than it is to play with money factors and residuals...
regards,
kyfdx
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Sorry for not posting the MSRP earlier. It is $49,145.
kyfdx, can you pls. break up the $526/mo payment you calculated? I did my calculations and did not reach this number. Since my knowledge is limited, I must have done something wrong. Here is what I did - may you can point out what's wrong.
MSRP: $49145
Negotiated price: $42995 (incl. ED discount)
Residual : $30961
Cap cost : $43620 (incl. $625 acq. fee)
Depreciation : $43620-$30961 = $12659
Per month cost: $12659/36 = $352
MF: 0.0018*43620 = $79 (is this correct?)
Tax: (352+79)*8.25% = $35 (is this correct?)
Total/month = $466
What did I miss? I have assumed that tax in California is only paid on the lease payment. And I am not sure if it is paid on MF or not (in my calculations I have taken it that way but doesn't sound logical to pay tax on MF)
Any help in clarifying this is appreciated. I have taken one more day from dealer to figure all this out!
General Question: A typical MF of say 0.0018 is equal to what APR of true interest rate?
I don't find the point in taking the incentives off when the new series come. Just think about it.....if you go to the dealership to buy a car and if you saw a brand new model and the older model side by side for the same price(the 2006 325i will be less than the 2005 330i), which one would you get?
I am in the same position as you are, still comtemplating if to get the new 325i or the 2005 330i. But I not going to buy something in a hurry until I test drive the new models. The new models should be test drive-able in 2 weeks. So I am going to wait.
I would not pay more than $500.00 to have that car shipped. If it's really far, then maybe $700.00.
The reason they are added together, is because you are paying interest on an average of the cap cost and residual.. The money factor calculation takes this into account..
.0018 MF = approx. 4.3% interest. But, this is mitigated by BMWFS making one of your lease payments for you on ED.
All of your other calculations are on the money.. Technically, you are actually paying sales tax on your monthly payment, not on depreciation or interest...
You have a pretty good handle on it..
regards,
kyfdx
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I am going buy an 06 325 and want to know where to start. Will it be harder to neog. because they are hot of the presses?
Would you happen to also know the residual and MF for a 48 month lease on this (everything else keeping same)? I know it is not popular but I would still like to compare it with buying and then selling after 4 yrs.
Regards.
Your monthly finance charge should come to $134.25 and not $79.00.
I don't think it's a good idea to lease for longer than 36 months. If you want to keep it longer than 36 months, purchase it.
kyfdx can explain better I am sure.
Do you think the current lease rates on coupes could get better in April? I tried going through countless forums in order to get a feel for the market..i ended up confusing myself . If lease rates remain unchanged, any reason for BMWFS to offer incentives on the coupes?? I found car, pull trigger now or wait 3 days?
Thanks
SKimo
Is this a good deal....2005 330i msrp 45420 sale price of 38920 12k/yr with drive off of 2286 and payment of 599 including tax which is 8.25% in Ca.
Thanks,
badpaws
Since it's a lease you only want to put down acquisition fee + licence fees + first month's payment(About $1400).
If you want to keep your car for 4-5 years, and have no trouble making the finance payments, then there is nothing wrong with buying it.. While the lease deals are good, there is nothing wrong with buying the car, if that is what you are more comfortable with..
And, if you want to keep the car longer than 3 years, that is really the best option.. You have already negotiated a good purchase price..
regards,
kyfdx
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Now.. my best guess...
I don't think lease rates are going to get any better for coupes... The money factors are already dirt cheap and the residuals are strong..
It is possible that at some point they will replace lease incentives with dealer cash, like they now have on sedans... Whether that will be April or not, I don't know..
But, in January, when they replaced the lease incentives on sedans with dealer cash, the result was higher lease payments... If you want to lease, I wouldn't wait..
That might turn out to be the wrong decision, but if it were me, I'd take the deal now..
regards,
kyfdx
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Post your description here, and be sure to give Terry your location.. Check back every day, and repost if you get missed..
dkuhajda, "Real-World Trade-In Values" #25819, 28 Mar 2005 11:44 pm
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$588 1st pymt.
$600 security deposit
$625 acq.fee
$52 tax on acq. fee
$1865 total due at signing.. If registration/title/license fees are $430, then the upfront money is okay..
1) I'd want another $500-$800 off the selling price.
2) I'm betting they marked up the acq. fee to $825.. check the breakdown of your upfront money.. Insist on $625 for acq.fee.
3) Find out why their payment is $11/mo. too high.. I'm thinking they were trying to get under $600/mo., and marked up the money factor to get you that number.. Base money factor is .00225
A deal with $500 more off the selling price should drop the payment from $588 to $572..
If the acquisition fee is marked up, dropping it by $200 would take $216 off your upfront money..
So, if it were me... I'd offer $2000 upfront including security deposit and a payment of $575/mo. tax included... That may seem like a small difference, but it is almost $1200 over the life of the lease...
regards,
kyfdx
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As feared, the dealer that gave me the above quote (BMW of Manhattan) did try to get cute and told me when I got there that the lease he quoted was for 10,000 miles (when I went home I checked the e-mails and confirmed that he was lying). So, I wound up with a quote of $648 per month with $1793 due at signing for 36 months/12k (no security deposit as I am a current BMWFS customer, $900 bank fee, fees, 1st month payment) and $691 for 24 months with a similar amount down ($1837).
I was sufficiently pissed about the mild bait and switch that he tried to pull and his excessive use of profanity and phrases like "we're not going to drop our pants" in front of my fiancee to walk away without closing a deal. So, I contacted another local dealer (Life Quality in Brooklyn) and we worked out the following in less than 30 minutes and I am about to send a deposit:
Sparkling Black Sapphire Metallic
Heated Front Seats
Xenon Headlights
Sport Package
Automatic Transmission
BMW Assist
MSRP $48,895
12,000 miles
24 months
$628.95 (NY 8.625% tax included in the payments)
$1699.08 due at signing (Bank Fee, First Month, Reg Fees)
I think this seems like a good deal- particularly since I was quoted $768 for the same terms at one point but I wanted to run it by the group.
Also, has anyone purchased a tire and wheel protection insurance package from their dealer?- in NY where potholes run rampant I thought this may be a good investment but I do not know the details. I've ruined several wheels and tires on my current 3-series.
I also just wanted to warn people who deal with unsavory internet dealers like I did to make sure you print out all of your e-mails and confirm details before wasting your time going to the dealership. Thanks for all of your help!
-RR
Knowing the numbers and being prepared really pay off... Enjoy your new car!!
regards,
kyfdx
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$554/mo.+ tax without security deposit..
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Does this deal seem reasonable? I'm scheduled to pick it up on Thursday.
Although ideally I would have liked to keep the car for 4 yrs, but the leasing deal (due to ED discount, dealer discount and high residual) is so irresistible I am going for leasing. For net $6300/yr, I get to drive my dream ($50k) car for 3 years! And it now leaves the door open for me to get the next generation 3-series convertible or M3 convertible 3 years later :-)
is this good?
Good luck!!
kyfdx
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Looks like a very good deal.. If that is the car you want...
regards,
kyfdx
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I guess I'll find out Saturday I'll let you know how everything goes.
Unfortunately, I don't think they like my number. I've been dealing with them through emails only. And for two days now they haven't responded to my last offer yet. I flat out told them that I refused to give them more than invoice-$4200+$500 for a car that was literally already a year old when the new model comes out in two weeks.
Oh well, no harm done, I've got time. My choices were either getting the E46 with discounted price or the new E90 with a reasonable price.
Thank you, again, Kyfdx. I'm sure I'll need your help again in the future.
On the wheel insurance on your lease,,,GET IT. I leased a 2005 Audi A4 on January 11 this year, on February 22 I busted a rim, you guessed it, on a huge pothole on the VanWick Expressway. The rim and tire were replaced by Audi immediately at not cost. I will check my papers, but the monthly payments on my lease went up a couple of bucks for this insurance. In NYC (we get a batch of fresh potholes every winter), I think it is a very good option to have specially if you lease your car. You certainly do not want to receive the news that when you return your car you get a bill for $600 to replace a rim in your car because the dealer say it is busted or bent.
My opinion, include it in your lease.
R
Any ideas what extra buying power you would get if you were to buy two cars at the same time?
Yes, $4K off MSRP on a 330xi would be a very bad deal..
In my experience, buying two cars doesn't do a whole lot extra for you.. Can't hurt, but if you are going for a bottom dollar deal, then bottom dollar is bottom dollar..
regards,
kyfdx
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85000
thanks
kyfdx, "Real-World Trade-In Values" #25845, 31 Mar 2005 5:21 pm
Subscribe to that thread, and hopefully Terry will get to your post this weekend..
regards,
kyfdx
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2005 330i Jet Black
Premium Pkg
Sport Pkg
BMW Assist
Xenon
Steptronic
Black Leather
36 month lease/10K year
$2016 down
$568 month
selling price $35,911
Did I get hosed?
1) how comfortable is the sport package suspension feel on long highway drives relative to the normal 325i?
2) is there really a danger towards road hazards with these low profile tires? how is their ride?
3) is there anything else i should be aware of with sport package?
i woudl like to thank you all for the invaluable advice that you have been providing to the community. i for one feel so much stronger with all the information here that i feel sorry for the dealer that i will deal with (how i wish this were true :-)
thanks all.
SP is soft on the 325i. It takes the really soft ride of a normal 325i and makes it barely harder. the 17s on the 325i are very pliant. If you're looking for a feathery, smooth ride, that to me is the SP (it actually makes me feel a little sick as it's way too soft for my tastes).
2) is there really a danger towards road hazards with these low profile tires? how is their ride?
Not really. 17s are fairly common today as standard equipment. Just drive sensibly - ie keep your eyes open for potholes. You should do that with ANY car though.
3) is there anything else i should be aware of with sport package?
???
can anyone please confirm that there are no incentives on the 3 for april!!
Don't have the sticker with me.