Quote:
Originally Posted by E92nate
I also talked to another dealer through email, and they said they can get me $1000 over invoice not including incentives and special offers. So now this sounds like a great deal to me. Thanks for the advice.
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Leave incentives out of it. And don't discuss MSD's until your ready to sign. Dealers will usually try quote you a monthly payment that may appear reasonable. You need to know how they arrived at that figure.
First negotiate price. Then make sure that they're not padding the Money Factor. If they're using a money factor of .00167, then they're padding it by the maximum allowed by BMW. Demand a Money Factor of .00127. Also make sure that they're not padding the fees. (Acquisition fee should be $725; Dealer/prep/processing fee varies from state to state, but you usually shouldn't pay more than $400; title and tags should be a couple of hundred more plus tax.)
To get your price, send an email to 4 or 5 sales managers or fleet managers (not salesmen). Tell them, I'm ready to buy, no need for a test drive, no need to haggle...I will give you a quick and easy sale if you will sell me this car (include specs) at $54,600, which is $650 over invoice. I bet one of them will accept.
Once you've negotiated the price, ensure that your getting the base Money Factor, and ask for a break down of all the fees. Once that's out of the way, apply any incentives you might have coming your way. I believe the only incentive right now is the $750 loyalty cash incentive. If you're eligible, then you'll get your car for $100 below invoice.
Then you may opt for multiple security deposits. Seven MSD's will lower your Money Factor to .00078.
Hope this helps.