How do I use Money Factor?

bmwman6

I am being quoted 513 for 39 months - 0 down.

On a BMWxi with Premium package, zcp, zda at a MSRP of 47600, reduced to 43300.

I feel it is high going by KBB. Are people really paying lower rates?
How do you negotiate it down?

Mr_Shiftright

You can try to negotiate further off MSRP, just like if you were buying a car. The money rate is pretty much fixed by the lending institution, as is the residual value. I'd like to see your payments about $25 less per month if possible.

bmwman6

I got the monthly rate down to 425 but they added on a Wear and tear and another package which will drive monthly rates to 505. Is it worth it?

Also they gave me an inception fee of 2160 ( Acq - 925 / Conv fee - 499 / DMV and first month payment ).

What do you think?

kyfdx

bmwman6 said:

I got the monthly rate down to 425 but they added on a Wear and tear and another package which will drive monthly rates to 505. Is it worth it?

Also they gave me an inception fee of 2160 ( Acq - 925 / Conv fee - 499 / DMV and first month payment ).

What do you think?

Ask them to take those packages off and take the $425/mo.

bmwman6

Do we really need tire and wheel protection , paintless dent care, windshield repair, interior and exterior repair and cosmetic alloy wheel repair?

konacoug

DO NOT get any of the packages they try to sell you, they are high profit margins for the dealer. You can obtain a tire warranty from Discount Tire for about $25 per tire. Wheel rash is not chargeable at lease turn in, most good insurance offers either free windshield replacement or repair.(check with your insurance agent) Ie I have USAA, no cost windshield replacement. Any damage to the car less than 2", think size of a credit card is not chargeable.

The sales guys prey on your fears to sell their inflated products. If you have any extra money, consider MSD's to lower your money factor.

bmwman6

Thanks

bmwman6

My MF is 0.001299. Can we go lower?

bmwman6

How much would 425 payments go down by if I did max MSDs. Is there a restriction in CT?

kyfdx

bmwman6 said:

How much would 425 payments go down by if I did max MSDs. Is there a restriction in CT?

$35-$45 per month.. I don't think CT restricts MSDs, but NY does.