Lease Buyout Gone Wrong!!!
04-20-2010, 06:47 PM
#21
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Good lord! 6 cars and the dealer still tries to bend you over?? What is this world coming to?
Since it is obvious that the Sales Manager just wants to ass rape you and doesn't give a hoot about your business, I would demand a meeting with the dealership's General Manager. If the GM does not satisfy you, I'd go to BMW NA ASAP to complain. I would also file complaints with you state and city departments of consumer affairs.
This is why I only negotiate with dealers by email so that it is in writing. I don't trust any of them as far as I can throw them.
Since it is obvious that the Sales Manager just wants to ass rape you and doesn't give a hoot about your business, I would demand a meeting with the dealership's General Manager. If the GM does not satisfy you, I'd go to BMW NA ASAP to complain. I would also file complaints with you state and city departments of consumer affairs.
This is why I only negotiate with dealers by email so that it is in writing. I don't trust any of them as far as I can throw them.
04-20-2010, 07:03 PM
#22
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I use to work at a BMW dealer and when it comes to the value of lease car returns, BMWFS does dictate the price. It is base on Manheim report. What it is, is a statistics on cars that went to the auction the week before. it shows year, make and model and mileage and how much each car sold at the auction on a regional scale. In turn, the dealer has the option of buying the car from BMWFS and convert it to a CPO for retail. Although, what they told you is partially correct since from my experience, week to week auction review are more likely on a down trend than up. Plus it will not make an $1800 gap in a week. GL, I hope this info helps you.
04-20-2010, 07:43 PM
#23
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I use to work at a BMW dealer and when it comes to the value of lease car returns, BMWFS does dictate the price. It is base on Manheim report. What it is, is a statistics on cars that went to the auction the week before. it shows year, make and model and mileage and how much each car sold at the auction on a regional scale. In turn, the dealer has the option of buying the car from BMWFS and convert it to a CPO for retail. Although, what they told you is partially correct since from my experience, week to week auction review are more likely on a down trend than up. Plus it will not make an $1800 gap in a week. GL, I hope this info helps you.
04-20-2010, 08:33 PM
#24
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Car value goes up $1800 in a week. Doesn't make sense to me. If that's the case, I would buy 50 550i's and make a HUGE profit! I dont bite it. Mebbe for a few hundred dollars approx $500 I wouldnt mind but NOT $1800. Are they prepared to lose you as a customer? What dealership are we talking about?
04-20-2010, 09:14 PM
#25
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8%..hmm. My 2007 550i residual was 41K. It sat on the lot for three months, and I bought it back for 34,900. Heck of a lot more than 8% off. I would walk. There are so many choices out there now, that you would be foolish to suck 1800.00 in a bad negotiated deal. Walk...then run, then let them come back to you.
04-20-2010, 10:41 PM
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I would call the local paper and also the local tv sations. Where I live,Sacramento, CA there is a segment on the local TV news called CALL KURTIS. local residents call and complain about people and businesses that rip off people. You cant believe the success rate that it has. I would say at least 80 to 90% of the problems get resolved once Kurtis approachs them with the cameras. That dealership will not want to be in the local paper or on TV for ripping off customers. I had a problem with 24 hour fitness in not accepting a offer. I called Kurtis and I was on the 5 oclock segment, 48 hours later 24 Hour fitness called and not only gave me the discounted rate but gave me a free 6 month extension. Good Luck
04-21-2010, 12:05 AM
#27
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If you negotiated a price, finalize it in writing.
You're right though - the dealer is trying to screw you.
Let us know which dealer/CA it is, and how everything ends.
You're right though - the dealer is trying to screw you.
Let us know which dealer/CA it is, and how everything ends.
04-21-2010, 04:02 AM
#28
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04-21-2010, 07:05 AM
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Atsa boolsheet. Go elsewhere.
04-21-2010, 07:34 AM
#30
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I would only deal with BMWFS. An $1800 markup is BS. BMWFS will deal despite what your lease contract says. The residuals on a new F10 are lower than an E60, so they know car depreciation is accelerating. Play hardball, it's a buyers market.