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12-20-2011, 10:28 AM | #1 |
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New 2011 E90 - lease question
Hi all - long time lurker, first time poster, hopefully soon-to-be owner.
I'm currently looking at leasing a well equipped brand new 2011 E90 DCT (Competition, Convenience, Nav, premium sound, and more) with a list of ~74,500. The initial quote for a 36 month/10k I received is high (see below) but I wanted to get people's thoughts before negotiating more. Cap cost- $71,500 Residual - 61% MF - .00225 (marked up from the best BMW rate of 195. He said they might be able to do better but it's up to them...) Doc - $399 (clearly quite high and mostly profit) Bank fee - $900 (marked up again from standard acquisition fee) Registration - $150 (i'm ok w this) Assuming I can negotiate the lowest MF, what do you think a fair sale price would be for this car? It seems like 2012 coupes w DCT can be had fairly easily for ~1000 above invoice and I would assume the same or even less for the 2011 E90s (I understand BMW isnt making a MY 2012 e90). Also, I'm seeing $1500 manufacturer to dealer on Edmunds for 2011 E90s. Can anyone confirm if that's true? Additionally, since the "other fees" are padding their profit nicely, I have to assume I'll have more wiggle room on sale price. Thanks in advance!!! |
12-20-2011, 02:10 PM | #2 |
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Just Say No . . .
To all of the markup bs. Tell them you will pay a fair mark up ($1000 is a quick way to get to agreement -- you may get it down if you want to negotiate), which INCLUDES any doc or other fees that they want to put on the car -- tell them you do not care what they call it, but $1000 over invoice WITH ALL FEES AND ANY OTHER CHARGES is what you will pay.
Then say that you expect a full pass through of any incentives and dealer credits (check with folks here as to the incentives to the dealer to confirm first), and that you will not pay a markup on the lease. Tell them that you will not do the deal without the above, and, if true, that you will sign the purchase agreement immediately once you have established that the above is correct. I have had dealers bitch and moan about having to mark up the lease rate, but I have never had them refuse to pass it through once it was clear (which may take a little while) that it was not going to happen. Remember, they would make the same amount on the car if they simply sold it to you, since there would be no lease to mark up. |
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12-20-2011, 02:31 PM | #3 | |
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Dave
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12-20-2011, 08:03 PM | #5 |
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Thank you all for your responses. So, if there is a $1500 incentive and people have been getting ~1000 above invoice anyway, should I be pushing for ~500 under invoice (including all the fees, even ones that are set by BMW like acquisition)? So hard to tell if that's a realistic or insulting starting point!
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12-20-2011, 09:10 PM | #6 | |
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12-20-2011, 09:12 PM | #7 |
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As far as fees go, you won't be able to get them to include everything, just try to minimize their markup. Title and licensing fees are usually fixed.
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