Discounts on 2023 760

[dimapb]

Out of curiosity, is anyone getting any discounts on 2023 760 ICE? My SA is offering 1% off but is marking up a MF to .0024. Wondering if others are getting any deals

[Dr.Amro]

Originally Posted by dimapb

Out of curiosity, is anyone getting any discounts on 2023 760 ICE? My SA is offering 1% off but is marking up a MF to .0024. Wondering if others are getting any deals

Your dealership is offering you 1% off MSRP?
I know for sure that there is 1000 incentive if you have a college degree

[dimapb]

Originally Posted by Dr.Amro

Your dealership is offering you 1% off MSRP?
I know for sure that there is 1000 incentive if you have a college degree

Yes, 1 % off of MSRP.
Not sure if you're being sarcastic about the college incentive, but I'm a bit too old to qualify for it anyway. I'm definitely going to take advantage of the BMW loyalty, but as far as I know those numbers have not been made available yet. Normally, I would walk away from a deal with a marked up MF, but my ordered car is already in QC and I'm not sure how long it would take to place an order with a different dealer.

[AlteBMW]

Originally Posted by dimapb

Yes, 1 % off of MSRP.
Not sure if you're being sarcastic about the college incentive, but I'm a bit too old to qualify for it anyway. I'm definitely going to take advantage of the BMW loyalty, but as far as I know those numbers have not been made available yet. Normally, I would walk away from a deal with a marked up MF, but my ordered car is already in QC and I'm not sure how long it would take to place an order with a different dealer.

No marked up MF or % for purchase here, and no discount either. Interest rates were locked in some time ago. Both lease and purchase based on 5.39%. How much are they marking up the MF?
I was told there are no loyalty programs and the college program is for recent grads, which I am not. No more USAA discounts either. I'm happy to get MSRP and I'll put in for the BMW club rebate and that seems to be it.

[Dr.Amro]

Originally Posted by dimapb

Yes, 1 % off of MSRP.
Not sure if you're being sarcastic about the college incentive, but I'm a bit too old to qualify for it anyway. I'm definitely going to take advantage of the BMW loyalty, but as far as I know those numbers have not been made available yet. Normally, I would walk away from a deal with a marked up MF, but my ordered car is already in QC and I'm not sure how long it would take to place an order with a different dealer.

No seriously there is a college graduate incentives but I wasn't aware it was only for new graduates as Alte Mentioned so this kicks me out too lol , If i were you i would call another dealer , get a written offer from them with no MF markup and try some leverage , it worked for me here in Florida and they are Brutal in markups !

[dimapb]

Originally Posted by AlteBMW

No marked up MF or % for purchase here, and no discount either. Interest rates were locked in some time ago. Both lease and purchase based on 5.39%. How much are they marking up the MF?
I was told there are no loyalty programs and the college program is for recent grads, which I am not. No more USAA discounts either. I'm happy to get MSRP and I'll put in for the BMW club rebate and that seems to be it.

Originally Posted by AlteBMW

No marked up MF or % for purchase here, and no discount either. Interest rates were locked in some time ago. Both lease and purchase based on 5.39%. How much are they marking up the MF?
I was told there are no loyalty programs and the college program is for recent grads, which I am not. No more USAA discounts either. I'm happy to get MSRP and I'll put in for the BMW club rebate and that seems to be it.

Assuming my car will be here in December, I'm trying to lock the rate now as well. The BMW FS money factor for October is .0020 or 4.8%. However, my dealer is marking up the rate and is charging me .0024 or 5.76%. I guess I should be thankful I'm getting 1% off.

[Dr.Amro]

Originally Posted by dimapb

Assuming my car will be here in December, I'm trying to lock the rate now as well. The BMW FS money factor for October is .0020 or 4.8%. However, my dealer is marking up the rate and is charging me .0024 or 5.76%. I guess I should be thankful I'm getting 1% off.

If you don't mind me asking , How did you know that the Money factor from BMWFS is .0020? did you just ask dealership ?

[AlteBMW]

Originally Posted by dimapb

Assuming my car will be here in December, I'm trying to lock the rate now as well. The BMW FS money factor for October is .0020 or 4.8%. However, my dealer is marking up the rate and is charging me .0024 or 5.76%. I guess I should be thankful I'm getting 1% off.

I just looked at my docs and the rate is 5.29% . That works out to .0022 MF. I'd push back at them, and also see if there is a bank that will lend at less than 5.76. I'm assuming you're top tier FICO. It is possible I'm getting a break for being a repeat customer (this is my 6th from the same dealer) but I doubt it as nobody is giving anybody breaks.

[dimapb]

Originally Posted by Dr.Amro

If you don't mind me asking , How did you know that the Money factor from BMWFS is .0020? did you just ask dealership ?

I used Edmunds forum to get this info. There's a moderator on BMW 7 series forum that has access to this information somehow. You would post your lease terms, such as 36 months and 12k miles per year and also your zip code and he tells you what the current BMW numbers are for a money factor and residual value. He can also provide info on BMW loyalty numbers once those are 'published'.

[mjr24]

Originally Posted by dimapb

Out of curiosity, is anyone getting any discounts on 2023 760 ICE? My SA is offering 1% off but is marking up a MF to .0024. Wondering if others are getting any deals

So....he really is offering you 1% off in exchange for him getting that 1% and more profit back from you in the form of a higher MF.

In other words, he thinks you are a sucker.

[dimapb]

Originally Posted by mjr24

So....he really is offering you 1% off in exchange for him getting that 1% and more profit back from you in the form of a higher MF.

In other words, he thinks you are a sucker.

Originally Posted by mjr24

So....he really is offering you 1% off in exchange for him getting that 1% and more profit back from you in the form of a higher MF.

In other words, he thinks you are a sucker.

Pretty much. That's exactly how I feel.
Unfortunately, given the current new car market, looks like I may not have a lot of options. My current lease on a 2020 740 has already been extended for 6 months and is ending on 12/1. I hope BMWFS will offer another month while I'm waiting for a 2023 760 to arrive. I was going to buy it out and then sell it, but the used car values are tanking and I don't want to take a chance.

[AlteBMW]

Originally Posted by dimapb

I used Edmunds forum to get this info. There's a moderator on BMW 7 series forum that has access to this information somehow. You would post your lease terms, such as 36 months and 12k miles per year and also your zip code and he tells you what the current BMW numbers are for a money factor and residual value. He can also provide info on BMW loyalty numbers once those are 'published'.

How do you get to this info?

[dimapb]

Originally Posted by AlteBMW

How do you get to this info?

https://forums.edmunds.com/discussio...als-and-prices?

[It's Good]

Just checked the main website for offers.There is an active one through 10/31.For a 760i with suggested dealer contribution of $2240 I'm getting an equivalent interest rate of about 3.8% for a 3 year 22.5k lease.Might be applicable to new orders only.Submitted my credit app a week ago.Calling my SA again.

[dimapb]

Originally Posted by It's Good

Just checked the main website for offers.There is an active one through 10/31.For a 760i with suggested dealer contribution of $2240 I'm getting an equivalent interest rate of about 3.8% for a 3 year 22.5k lease.Might be applicable to new orders only.Submitted my credit app a week ago.Calling my SA again.

If you're leasing, how are you getting a 3.8% interest rate? The current BMW MF is 0.0020, which translates to 4.8% interest.
In reference to the suggested dealer contribution of $2,240, it's exactly that, suggested. Most dealers nowadays don't even bother negotiating and are playing hardball. I wish I could wait until the 2nd or 3rd quarter of next year when I think dealers will be mostly back to offering 10% - 12% discounts and begging for your money. In addition, I don't think they're going to be selling a lot of $120+K cars when the country is in recession.
Unfortunately, it's the dealers' market now and I need a car. I guess you got a pay-to-play.
I was also hoping to get the BMW CCA rebate, but after speaking with them I learned that you can only get 1 rebate per household per year, and I just got a 2022 X7 for my wife in May of this year.

[AlteBMW]

Originally Posted by dimapb

If you're leasing, how are you getting a 3.8% interest rate? The current BMW MF is 0.0020, which translates to 4.8% interest.
In reference to the suggested dealer contribution of $2,240, it's exactly that, suggested. Most dealers nowadays don't even bother negotiating and are playing hardball. I wish I could wait until the 2nd or 3rd quarter of next year when I think dealers will be mostly back to offering 10% - 12% discounts and begging for your money. In addition, I don't think they're going to be selling a lot of $120+K cars when the country is in recession.
Unfortunately, it's the dealers' market now and I need a car. I guess you got a pay-to-play.
I was also hoping to get the BMW CCA rebate, but after speaking with them I learned that you can only get 1 rebate per household per year, and I just got a 2022 X7 for my wife in May of this year.

The .0020 money factor is what I am seeing from my dealer as well. That's 4.8%. I was told the purchase rate is 5.29%. Both of those are below what I found from banks and from USAA. Also my dealer is not marking up the MSRP but there are no discounts either, even for a repeat customer (my 6th from this dealer).

[It's Good]

Subtracted the total of the payments from the cap cost.Took that amount and subtracted from the residual. $12,344 is de facto "interest" for 3 years,$4114 per year. That's 3.8%on $107,830 cap cost per year.Am I doing it wrong?I'll get a BMWCCA rebate to.

[AlteBMW]

Originally Posted by It's Good

Subtracted the total of the payments from the cap cost.Took that amount and subtracted from the residual. $12,344 is de facto "interest" for 3 years,$4114 per year. That's 3.8%on $107,830 cap cost per year.Am I doing it wrong?I'll get a BMWCCA rebate to.

That sounds logical but I am not sure it is the way MF is calculated or applied. You can search on Google for "auto lease calculator" and look for a spread sheet type calculator. The one I am using uses lots more data fields than depreciation and the Money Factor gets applied to a figure that is different than the total depreciation -- or they would just use percentages instead of money factors -- which obviously they do not. When I did my order they did not quote a money factor but did quote a monthly payment and I backed into the money factor. If you want to see the spreadsheet I have been using send a PM with an email address.

[dimapb]

Originally Posted by AlteBMW

That sounds logical but I am not sure it is the way MF is calculated or applied. You can search on Google for "auto lease calculator" and look for a spread sheet type calculator. The one I am using uses lots more data fields than depreciation and the Money Factor gets applied to a figure that is different than the total depreciation -- or they would just use percentages instead of money factors -- which obviously they do not. When I did my order they did not quote a money factor but did quote a monthly payment and I backed into the money factor. If you want to see the spreadsheet I have been using send a PM with an email address.

You can also use this:

https://leasehackr.com/calculator/

[It's Good]

Thanks for the info.Obviously, the numbers will be different for a 15k miles a year lease. Finally got my SA to put together a lease quote and will analyze against the website offer and the online calculators.She said if there is a better offer when I take delivery we go with that.

[It's Good]

You are correct AlteBMW.Ran the website lease offer numbers on the Lease Wizard site and they are at 4.80% or .0020.My pea brain real estate mind over simplified!Ran my current lease from Feb.'21 and it's 2.06%.

[AlteBMW]

Originally Posted by It's Good

You are correct AlteBMW.Ran the website lease offer numbers on the Lease Wizard site and they are at 4.80% or .0020.My pea brain real estate mind over simplified!Ran my current lease from Feb.'21 and it's 2.06%.

My lease from Oct 21 is similar. I do a 7500 mi/yr lease as I no longer commute to work and don't need more and there is no point in paying for miles I will never use. BTW BMW is so very generous if you turn in a car with significantly less than the contracted miles: you get a flat $300 credit on your next lease or purchase. That compares with $.30 a mile if you go over. So go under by 4000 miles (as I did last time) and you get $300. Go over by 4000 miles and you pay $1200. With the amount of driving I do, I am seriously considering purchase this time even though the rates are higher -- and would keep the car 4 years (4 year lease terms usually don't make sense). After that is a ? because of no warranty, and after 4 years I will likely have an itch for something new anyhow.