Quote:
Originally Posted by BavarianFanatic
That is not a very good price. And regarding your credit score, your commercial FICO score isn't necessarily indicative of the scoring used for automotive purchases/leases. The use a totally different model.
Regarding pricing, you treat a lease negotiation just like a purchase. As mentioned earlier, build the exact car on BMWConfig.com to see what invoice is. It also has a nice financial calculator that allows you to play with the numbers. The current base money factor is 0.00135. They've got a pretty healthy mark-up on the number you quoted. 1 to 1.5 points is more reasonable. A major issue in PA is the damn 9% tax rate on leases (paid monthly). It's robbery, but it exacerbates the issue if you don't get the base numbers down as low as you possibly can.
On a 328i, I'd definitely try to drive it closer to $500 over invoice. There are plenty of them out there.
Also, if you have a friend who wants to buy your car, see if the dealer will do a "courtesy trade" so you can reap the benefit of the tax savings you'd realize had you traded the car in.
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Thank you! We did discuss a courtesy trade but I didn't sound like I was reaping any benefits at all. How does that work exactly. I did bmwconfig and it seems that I may be around $500 above invoice? Unless I plugged too many options in.