Talking to a Dealer in LI
06-30-2006, 08:19 AM
#1
Senior Members
Thread Starter
Join Date: Mar 2005
Location: Queens, NYC
Posts: 702
Likes: 0
Received 0 Likes
on
0 Posts
My Ride: 335i Sedan
Here there gang, I was wondering whether you could offer some advice to me about my car purchase. I
want to thank member mercy for directing me to habberstad BMW in Long Island again the sales associate
I've been working with has been great. I'm plan on leasing my car, and I got quote from my sales
associate for a 530i (auto, Sports, Nav, rear shades, premium & cold) for about $780 a month. I'm not sure
whether this is a good deal but considering a new 530i with just auto goes for $673 a month with no options
I thought this sounded good. I asked her about the amount due for my lease signing and she tells me
$4,750
including taxes! Now I want to go with zero down because I don't really care for cap
reduction (because if anything happens to the car, I lose that money) but doesn't this sound a little high? do
you think the dealer is taking me for a good joy ride? I thought it was mostly the 1st month payment &
security deposit plus taxes due at lease signing? please bare in mind that I'm 22 years old and have no prior
experience with any of this, hence me asking you so many questions. I might be young & filled with too
many emotions when it comes to this car but I also want to get it at a fairly reasonable price without feeding
the sales associate for length of my lease. any advice you can give me is strongly appreciated. Again, I
just want to know whether this is fair or not. I'm not stating anything about the sales individual.
want to thank member mercy for directing me to habberstad BMW in Long Island again the sales associate
I've been working with has been great. I'm plan on leasing my car, and I got quote from my sales
associate for a 530i (auto, Sports, Nav, rear shades, premium & cold) for about $780 a month. I'm not sure
whether this is a good deal but considering a new 530i with just auto goes for $673 a month with no options
I thought this sounded good. I asked her about the amount due for my lease signing and she tells me
$4,750
including taxes! Now I want to go with zero down because I don't really care for cap reduction (because if anything happens to the car, I lose that money) but doesn't this sound a little high? do
you think the dealer is taking me for a good joy ride? I thought it was mostly the 1st month payment &
security deposit plus taxes due at lease signing? please bare in mind that I'm 22 years old and have no prior
experience with any of this, hence me asking you so many questions. I might be young & filled with too
many emotions when it comes to this car but I also want to get it at a fairly reasonable price without feeding
the sales associate for length of my lease. any advice you can give me is strongly appreciated. Again, I
just want to know whether this is fair or not. I'm not stating anything about the sales individual.
06-30-2006, 09:31 AM
#2
Senior Members
Join Date: Sep 2004
Location: New York, NY
Posts: 2,074
Likes: 0
Received 0 Likes
on
0 Posts
My Ride: '05 545i - scheduled for ED pickup in Munich on 7/22!
only suckas compare monthly payments for leases.
if you finance a house, you don't shop around for the best payment do you? no, you shop for the best interest rate. you also shop for the best price.
same thing with leases. they just try to confuse you by masking the rates with aliases such as money factor.
i got this from http://www.bimmerfest.com/forums/sho...d.php?t=150109 -
530i Sedan / Compare Instant Lease Quotes
24 mo/15k mi ? Residual Value 70% of MSRP ? .00310 Base Money Factor Rate
36 mo/15k mi ? Residual Value 59% of MSRP ? .00310 Base Money Factor Rate
48 mo/15k mi ? Residual Value 38% of MSRP ? .00310 Base Money Factor Rate
60 mo/15k mi ? Residual Value 30% of MSRP ? .00310 Base Money Factor Rate
you understand this info after you read these:
http://www.bimmerfest.com/forums/sho...d.php?t=146090
leaseguide.com
now go ask them straight up for the terms (price, money factor, residual, fees, etc). you'll never know if you're really getting a good deal if you only compare monthly payments.
ps: lease rates change each month. if they quote you june's rate and you think it might go up in july, lock that ish in today!
if you finance a house, you don't shop around for the best payment do you? no, you shop for the best interest rate. you also shop for the best price.
same thing with leases. they just try to confuse you by masking the rates with aliases such as money factor.
i got this from http://www.bimmerfest.com/forums/sho...d.php?t=150109 -
530i Sedan / Compare Instant Lease Quotes
24 mo/15k mi ? Residual Value 70% of MSRP ? .00310 Base Money Factor Rate
36 mo/15k mi ? Residual Value 59% of MSRP ? .00310 Base Money Factor Rate
48 mo/15k mi ? Residual Value 38% of MSRP ? .00310 Base Money Factor Rate
60 mo/15k mi ? Residual Value 30% of MSRP ? .00310 Base Money Factor Rate
you understand this info after you read these:
http://www.bimmerfest.com/forums/sho...d.php?t=146090
leaseguide.com
now go ask them straight up for the terms (price, money factor, residual, fees, etc). you'll never know if you're really getting a good deal if you only compare monthly payments.
ps: lease rates change each month. if they quote you june's rate and you think it might go up in july, lock that ish in today!
06-30-2006, 09:53 AM
#3
Contributors
Join Date: Feb 2006
Location: NY
Posts: 14,646
Likes: 0
Received 0 Likes
on
0 Posts
My Ride: 2008 Silverstone II E60 M5 2012 E70 AW X5 50i Sport w/ LCI Aero Kit and Rocker Panels
i just got my car at rallye bmw in long island. i too, leased my car. i was going to go with habberstad, but they offered me the car at $1800 above invoice. i got rallye to give me the car at $1300 above invoice. now, i have the 530xi, loaded to the max with everything, except for HUD and ACC. all i paid was first month's payment and the bank fee for my down. since i had an older bmw, bmw financial waived the deposit. also, i did not include taxes in my down. my down payment was approx. $1400 and my monthly nut is $884. if i paid the taxes up front, my payment would be $804. the money factor/residual didn't drop since the 2007's came out, so i had to bite the bullet and pay more. money factor for 36months/12k/year is .00225. Had it dropped to around .00200 or lower, my payment would have substantially dropped. one option is to wait a while and see if it comes down. however, it's all based on supply and demand and sales. if the E60 is selling well and they want to control the US market with the number of cars they release, you may not see a reduction and in rare cases, an actual increase.
06-30-2006, 11:34 AM
#4
Senior Members
Thread Starter
Join Date: Mar 2005
Location: Queens, NYC
Posts: 702
Likes: 0
Received 0 Likes
on
0 Posts
My Ride: 335i Sedan
Originally Posted by jet190rs' post='305540' date='Jun 30 2006, 01:31 PM
only suckas compare monthly payments for leases.
if you finance a house, you don't shop around for the best payment do you? no, you shop for the best interest rate. you also shop for the best price.
same thing with leases. they just try to confuse you by masking the rates with aliases such as money factor.
i got this from http://www.bimmerfest.com/forums/sho...d.php?t=150109 -
530i Sedan / Compare Instant Lease Quotes
24 mo/15k mi ? Residual Value 70% of MSRP ? .00310 Base Money Factor Rate
36 mo/15k mi ? Residual Value 59% of MSRP ? .00310 Base Money Factor Rate
48 mo/15k mi ? Residual Value 38% of MSRP ? .00310 Base Money Factor Rate
60 mo/15k mi ? Residual Value 30% of MSRP ? .00310 Base Money Factor Rate
you understand this info after you read these:
http://www.bimmerfest.com/forums/sho...d.php?t=146090
leaseguide.com
now go ask them straight up for the terms (price, money factor, residual, fees, etc). you'll never know if you're really getting a good deal if you only compare monthly payments.
ps: lease rates change each month. if they quote you june's rate and you think it might go up in july, lock that ish in today!
if you finance a house, you don't shop around for the best payment do you? no, you shop for the best interest rate. you also shop for the best price.
same thing with leases. they just try to confuse you by masking the rates with aliases such as money factor.
i got this from http://www.bimmerfest.com/forums/sho...d.php?t=150109 -
530i Sedan / Compare Instant Lease Quotes
24 mo/15k mi ? Residual Value 70% of MSRP ? .00310 Base Money Factor Rate
36 mo/15k mi ? Residual Value 59% of MSRP ? .00310 Base Money Factor Rate
48 mo/15k mi ? Residual Value 38% of MSRP ? .00310 Base Money Factor Rate
60 mo/15k mi ? Residual Value 30% of MSRP ? .00310 Base Money Factor Rate
you understand this info after you read these:
http://www.bimmerfest.com/forums/sho...d.php?t=146090
leaseguide.com
now go ask them straight up for the terms (price, money factor, residual, fees, etc). you'll never know if you're really getting a good deal if you only compare monthly payments.
ps: lease rates change each month. if they quote you june's rate and you think it might go up in july, lock that ish in today!
06-30-2006, 01:38 PM
#5
Contributors
Join Date: Apr 2005
Location: San Diego, CA
Posts: 7,363
Likes: 0
Received 0 Likes
on
0 Posts
My Ride: 2007 E63 AMG | Obsidian Black | Schwarzes Nappa | Black BirdEye Maple | Premium II Package | Electronic Trunk Closer | Parktronic
Engine: RPi/Powerchips custom ECU tune, RPi Ram Air Kit (BMC filter, scoops), RennTech Sport exhaust, secondary cats, charcoal and resonator delete, custom AAA x-pipe
Exterior: 50% side windows / 35% rear window Formula One Pinnacle Series | Flat AMG hood emblem
Suspension: Renntech Lowering Module
Wheels/Tires: Radenergie R10, Falken FK452 245/30/20, Yokohama ADVAN Sport 285/25/20
-----------------------------------------
2005 545i Sport SMG | Ti Grau | Schwarzes Dakota | Anthracite Maple | Logic 7 | Nav
Engine: Custom AFE CAI, Superchips ECU remap, Sprint Booster, RDSport Dual Exhaust Conversion with Quad Pipes and X-pipe, 3 resonators deleted, 90mm tips!
Exterior: M-Tech Aero kit | M5 Mirrors | M5 Rear Bumper | Trunk Lid Finisher | Vorsteiner decklid spoiler | 50% Formula One Pinnacle Tint
Suspension and Brakes: Bilstein PSS9 coilovers, JBT BBK: 16" cross-drilled rotors, 8 piston and 15" cross-drilled rotors, 4 piston
Wheels: VIP Modular VR 02 20x9F, 20x10R | Toyo T1R 245/30/20F, 285/25/20R
Lights: PIAA 4150K Xtreme White Plus fog lights, AIB v3
MOST IMPORTANT: Hardwired V1; =)
ED Date: 4/7/05, Re-delivery date: 5/21/05
Simple1,
Have you looked into doing an European Delivery? You can buy/lease a lot of car when doing an ED.
Have you looked into doing an European Delivery? You can buy/lease a lot of car when doing an ED.
07-01-2006, 12:39 AM
#6
Senior Members
Thread Starter
Join Date: Mar 2005
Location: Queens, NYC
Posts: 702
Likes: 0
Received 0 Likes
on
0 Posts
My Ride: 335i Sedan
Originally Posted by cmansbimmer' post='305544' date='Jun 30 2006, 01:53 PM
i just got my car at rallye bmw in long island. i too, leased my car. i was going to go with habberstad, but they offered me the car at $1800 above invoice. i got rallye to give me the car at $1300 above invoice. now, i have the 530xi, loaded to the max with everything, except for HUD and ACC. all i paid was first month's payment and the bank fee for my down. since i had an older bmw, bmw financial waived the deposit. also, i did not include taxes in my down. my down payment was approx. $1400 and my monthly nut is $884. if i paid the taxes up front, my payment would be $804. the money factor/residual didn't drop since the 2007's came out, so i had to bite the bullet and pay more. money factor for 36months/12k/year is .00225. Had it dropped to around .00200 or lower, my payment would have substantially dropped. one option is to wait a while and see if it comes down. however, it's all based on supply and demand and sales. if the E60 is selling well and they want to control the US market with the number of cars they release, you may not see a reduction and in rare cases, an actual increase.
on a serious note, do you think you can PM me the contact info of your sales associate, because I'm looking to order latest by mid August before they raise the money rate in september (so i've heard not positive about any of it)? and what deposit did BMWF waive? the security deposit? if taxes were included about how much do you think your total for down payment would have been? again sorry for asking so many questions, I just can't seem to contain all the adrenaline in my body now that i'm this close to ordering.
07-01-2006, 12:42 AM
#7
Senior Members
Thread Starter
Join Date: Mar 2005
Location: Queens, NYC
Posts: 702
Likes: 0
Received 0 Likes
on
0 Posts
My Ride: 335i Sedan
Originally Posted by jiio' post='305620' date='Jun 30 2006, 05:38 PM
Simple1,
Have you looked into doing an European Delivery? You can buy/lease a lot of car when doing an ED.
Have you looked into doing an European Delivery? You can buy/lease a lot of car when doing an ED.
total tourture for the rest of my life, I would have to travel to germany every 6 months just to have my sanity a very expensive lifestyle hey?
07-01-2006, 12:16 PM
#8
Contributors
Join Date: Apr 2005
Location: San Diego, CA
Posts: 7,363
Likes: 0
Received 0 Likes
on
0 Posts
My Ride: 2007 E63 AMG | Obsidian Black | Schwarzes Nappa | Black BirdEye Maple | Premium II Package | Electronic Trunk Closer | Parktronic
Engine: RPi/Powerchips custom ECU tune, RPi Ram Air Kit (BMC filter, scoops), RennTech Sport exhaust, secondary cats, charcoal and resonator delete, custom AAA x-pipe
Exterior: 50% side windows / 35% rear window Formula One Pinnacle Series | Flat AMG hood emblem
Suspension: Renntech Lowering Module
Wheels/Tires: Radenergie R10, Falken FK452 245/30/20, Yokohama ADVAN Sport 285/25/20
-----------------------------------------
2005 545i Sport SMG | Ti Grau | Schwarzes Dakota | Anthracite Maple | Logic 7 | Nav
Engine: Custom AFE CAI, Superchips ECU remap, Sprint Booster, RDSport Dual Exhaust Conversion with Quad Pipes and X-pipe, 3 resonators deleted, 90mm tips!
Exterior: M-Tech Aero kit | M5 Mirrors | M5 Rear Bumper | Trunk Lid Finisher | Vorsteiner decklid spoiler | 50% Formula One Pinnacle Tint
Suspension and Brakes: Bilstein PSS9 coilovers, JBT BBK: 16" cross-drilled rotors, 8 piston and 15" cross-drilled rotors, 4 piston
Wheels: VIP Modular VR 02 20x9F, 20x10R | Toyo T1R 245/30/20F, 285/25/20R
Lights: PIAA 4150K Xtreme White Plus fog lights, AIB v3
MOST IMPORTANT: Hardwired V1; =)
ED Date: 4/7/05, Re-delivery date: 5/21/05
Originally Posted by Simple1' post='305750' date='Jul 1 2006, 01:42 AM
I would look into Euro delivery but I work in I.T. so time off is limited, saving my free days to tour europe in december/january coming up. I just wouldn't get the extra time off you know and also don't think I can deal with driving it over there on the autobahn then coming here where i'm limited to a 65 mile an hour limit total tourture for the rest of my life, I would have to travel to germany every 6 months just to have my sanity a very expensive lifestyle hey?
total tourture for the rest of my life, I would have to travel to germany every 6 months just to have my sanity a very expensive lifestyle hey? 
07-02-2006, 07:29 AM
#9
Senior Members
Thread Starter
Join Date: Mar 2005
Location: Queens, NYC
Posts: 702
Likes: 0
Received 0 Likes
on
0 Posts
My Ride: 335i Sedan
holy crap!!! $9000 of MSRP here i was just trying to save $3000!! are you sure about it being that much of a difference? I find that so crazie,
07-02-2006, 09:34 AM
#10
Contributors
Join Date: Apr 2005
Location: San Diego, CA
Posts: 7,363
Likes: 0
Received 0 Likes
on
0 Posts
My Ride: 2007 E63 AMG | Obsidian Black | Schwarzes Nappa | Black BirdEye Maple | Premium II Package | Electronic Trunk Closer | Parktronic
Engine: RPi/Powerchips custom ECU tune, RPi Ram Air Kit (BMC filter, scoops), RennTech Sport exhaust, secondary cats, charcoal and resonator delete, custom AAA x-pipe
Exterior: 50% side windows / 35% rear window Formula One Pinnacle Series | Flat AMG hood emblem
Suspension: Renntech Lowering Module
Wheels/Tires: Radenergie R10, Falken FK452 245/30/20, Yokohama ADVAN Sport 285/25/20
-----------------------------------------
2005 545i Sport SMG | Ti Grau | Schwarzes Dakota | Anthracite Maple | Logic 7 | Nav
Engine: Custom AFE CAI, Superchips ECU remap, Sprint Booster, RDSport Dual Exhaust Conversion with Quad Pipes and X-pipe, 3 resonators deleted, 90mm tips!
Exterior: M-Tech Aero kit | M5 Mirrors | M5 Rear Bumper | Trunk Lid Finisher | Vorsteiner decklid spoiler | 50% Formula One Pinnacle Tint
Suspension and Brakes: Bilstein PSS9 coilovers, JBT BBK: 16" cross-drilled rotors, 8 piston and 15" cross-drilled rotors, 4 piston
Wheels: VIP Modular VR 02 20x9F, 20x10R | Toyo T1R 245/30/20F, 285/25/20R
Lights: PIAA 4150K Xtreme White Plus fog lights, AIB v3
MOST IMPORTANT: Hardwired V1; =)
ED Date: 4/7/05, Re-delivery date: 5/21/05
Go here to view how much you can save: http://www.bimmerfest.com/forums/attachmen...mp;d=1142352377. I'll give you a preview.
2007 530i MSRP = $47500
ED Invoice + $1K(Dealer profit) = $41200
You have just save $6300 so far. Now add some options.
MSRP: Step = $1275, NAV = $1800, Logic 7 = $1200, Sport Package = $2800, Premium Package = $1800, Destination charge = $695
ED Invoice: Step = $1210, NAV = $1640, Logic 7 = $1090, Sport Package = $2550, Premium Package = $1640, Destination Charge = $695
------------------------------------------------------------------------------------------------------------------
MSRP Total = $57070
ED Invoice Total = $50025
You save over $7000. If you find that this is acceptable, then check this link out: http://www.bimmerfest.com/forums/forumdisplay.php?f=25
Good luck in getting your car.
2007 530i MSRP = $47500
ED Invoice + $1K(Dealer profit) = $41200
You have just save $6300 so far. Now add some options.
MSRP: Step = $1275, NAV = $1800, Logic 7 = $1200, Sport Package = $2800, Premium Package = $1800, Destination charge = $695
ED Invoice: Step = $1210, NAV = $1640, Logic 7 = $1090, Sport Package = $2550, Premium Package = $1640, Destination Charge = $695
------------------------------------------------------------------------------------------------------------------
MSRP Total = $57070
ED Invoice Total = $50025
You save over $7000. If you find that this is acceptable, then check this link out: http://www.bimmerfest.com/forums/forumdisplay.php?f=25
Good luck in getting your car.