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Researching car prices. How much information should I share to get quotes

margaret2013x3margaret2013x3 Member Posts: 13
edited September 2015 in BMW
Thank you in advance for answering the question.
I am in the process of getting price quotes from various BMW dealers via internet. I currently have a 2013 BMW X3 fully loaded in good condition however, I am over mileage by 7000 miles (approximately $1100). When I seek out price quotes from dealerships should I:

1. inform them that I currently have a lease that is over mileage and I would like the mileage waived or reduced as part of the deal.
2. get cost for the vehicle and then negotiate the over mileage into the deal
3. get price quote first and then negotiate, additional fees ex. dealer cost fee, money factor (my credit score is over 800).
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  • kyfdxkyfdx Moderator Posts: 187,316

    Thank you in advance for answering the question.
    I am in the process of getting price quotes from various BMW dealers via internet. I currently have a 2013 BMW X3 fully loaded in good condition however, I am over mileage by 7000 miles (approximately $1100). When I seek out price quotes from dealerships should I:

    1. inform them that I currently have a lease that is over mileage and I would like the mileage waived or reduced as part of the deal.
    2. get cost for the vehicle and then negotiate the over mileage into the deal
    3. get price quote first and then negotiate, additional fees ex. dealer cost fee, money factor (my credit score is over 800).

    A dealer can't really do anything about your over-mileage charges, and can't roll those charges into your next lease, as the bill comes from BMWFS about a month after turn-in. If you need to free up the $1100, negotiate the next lease or purchase with as little upfront money as possible.

    Ask a dealer for a price quote on the vehicle you are interested in. Get a full breakdown of the selling price and any and all charges. If it is a lease, ask for the money factor and residual. Don't accept vague answers like, "plus inception fees" or "plus start up" or "plus drive-off". Those are all euphemisms for "here is where we make our money". Get the exact numbers, then negotiate from there.

    Edmunds Lease Calculator
    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • margaret2013x3margaret2013x3 Member Posts: 13
    thank you
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