03-10-2021, 09:13 PM | #265 | |
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03-10-2021, 09:16 PM | #266 | |
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Is there a number I should be shooting for?
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03-10-2021, 09:21 PM | #267 |
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Currently .00086 is the base MF. Dealers have the choice and ability to raise the MF .0004 to .00126. So they may cut you a deal with money off the msrp but they will hit you with the higher MF to make up some of that money that they took off.
From what I've experienced, if they run your credit then they should have numbers drawn up. But seeing as how the awd has not released any pricing guides and there is no way to know what the upcharge for awd will be, then maybe they won't lock you into MF and residuals right now |
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03-10-2021, 10:13 PM | #268 |
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They can't do anything if you're ordering an awd as they don't have the info; they don't even know what xdrive will cost extra. You're the same as me; we're in line to discuss these terms and order a car the second they are able to.
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03-10-2021, 10:30 PM | #269 | ||
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03-11-2021, 09:31 AM | #270 |
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The dealer got back to me and hiked the MF to .00124. What's the best approach to take when in this situation?
I am assuming I can just walk if they won't budge even with a deposit down. Edit the include the entire deal: MSRP (Before AWD Pricing) - $83950 3.5% Discount $1000 College Credit $500 Loyalty $500 CCA Rebate Total Discount - 6.25% Do I include the CCA rebate as a discount? Everything seemed fine and dandy but the MF is indeed 00126...
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03-11-2021, 10:34 AM | #271 |
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The higher MF is probably equivalent to an extra $1000-$2000 through the life of the lease. There are brokers that can get you 7% off a rwd so they may be able to assist when the awd releases
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03-11-2021, 11:04 AM | #272 | |
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03-11-2021, 12:06 PM | #273 |
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You could say, I'd like to get closer to the "buy rate". That's the rate they get from BMWFS.
MOST dealers mark up the Money Factor - but they can never play with the residuals. As I've noted before, you should be working on your lease payment. So you could go back to the dealer and say "I get that you are raising the MF on me, the lease price I need to be at is.... and I'm not putting anything down other than first payment and security deposit, so I'm going to need you to make this work" From there, they can increase the discount on the car or adjust the MF. But spend some time getting the correct monthly price you wanna be at - lots of people can help you on what that is based on your state and the taxes and the lease inception fee (don't forget that). *as noted, the BMW CCA rebate is separate and timing is everything. If you forget to file your paperwork in time, no rebate for you - and they will not budge on this. So DON'T FORGET.
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03-11-2021, 09:48 PM | #274 |
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It's still free. If you have the cash might as well since you get it back regardless.
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03-11-2021, 09:50 PM | #275 | |
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03-11-2021, 10:50 PM | #276 | |
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Maybe I am wrong?
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03-11-2021, 10:56 PM | #277 | ||
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03-12-2021, 09:45 AM | #278 | ||
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my starting point, and I try to go up from there. They've already won the advantage because now we're convinced that AWD is desirable and 5% is the highest we will get. Convincing customers that incentives are discounts is part of the game. Incentives don't come from the dealer. They come from BMW corporate, subsidies, or the financial institution. Loyalty is from BMW Finance for example and ALL the dealers will have this, so when making the dealers compete with one another, take it out of the equation.
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03-12-2021, 12:54 PM | #279 | |
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Anyway, I've always purchased/financed and usually do CPO but from what I have seen so far of the new M3 I am actually very interested in possibly leasing a brand new one if I can get a good deal. I've not kept a "fun" car for more than 2 or 3 years in a long time so realistically financing doesn't make a lot of sense for me on a purchase like that. I'll definitely be keeping an eye on these numbers as we move into 2022. |
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03-12-2021, 02:48 PM | #280 | |
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Like you, I know I'm not keeping this car beyond 3 years, but would love to be able to get out of it in 1 or 2 years, so just know that I may be IMing you later to figure out how to do that. |
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03-12-2021, 05:08 PM | #281 | ||
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03-12-2021, 05:20 PM | #282 |
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03-13-2021, 02:11 AM | #283 |
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There’s a credit union out in Pasadena with a balloon payment loan with an option to walk away at the end (CarFax be damned). Their residual (beats BMW by a mile) is partially based on pre agreed to mileage and you cover overage at .10 a mile. Just like a lease.
Not a catch in site. Looking at the lease ‘deals’ everyone is getting this seems like a likely route for me. Especially since Im leaning towards buying this car but I’m not sure what the 2 LCIs are going to bring. There are a few other Credit Unions that also offer this product. PenFed promised a walk away option last year but alas nowhere to be found. |
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03-13-2021, 08:19 AM | #284 | |
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I'm working on a select financing option right now for an M3 so would be curious to know more.
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03-13-2021, 12:59 PM | #285 | |
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Uh.... I think some states tax those deals differently. So there could be a catch depending on where you live.
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I know that if I tried that with my dealer he would laugh at me. Then again, he knows I'm headed to the dark side
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03-13-2021, 03:41 PM | #286 | |
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