Quote:
Originally Posted by salad onion
And BMW charges you a higher interest rate (8.29%) for full circle. When you consider cost of 1 year extended warranty + Insurance + Dealer Origination Fee + Loan Establishment fee added to your loan it is not good at all. Infact, it is a really good extra money making scheme for BMW and its dealerships.
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It depends on what you can negotiate. At the end of the day what you end up paying is the result of a tug of war between how much you want the car and how much they want to sell you the car.
One of the good things about FC is that you can negotiate on monthly repayment (once you have set the parameters of duration and residual percentage). It won't benefit the dealer if they load up your residual to reduce monthly repayment because at the end of the day you can hand the car back and owe them nothing more. So anything you can reduce on monthly repayment is genuine reduction in cost.
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