PDA

View Full Version : Recent 750 Purchasers


Guards Red Car
05-08-2009, 12:47 PM
Looking to hear from you about your deal....I'm ordering a 750i Sport for ED late August...Would like to know what kind of deals you've experienced, Thanks

chrischeung
05-08-2009, 01:19 PM
I recommend asking on the European Delivery forum since you're doing ED. Also don't sweat the $$$ as much - $500 here or there on a $100K car is only 0.5%. Instead, focus on service and competency of your CA and dealer IMO.

advocado
05-23-2009, 09:21 AM
I picked up my 750 Li at the Welt in late April. I "think" the deal was ok, considering dealers rarely discount new models. MSRP was about 97k. Got it with European Delivery for 88k (Northern California dealer from whom I've purchased cars in the past). The E/D experience was great. Didn't really drive the car around (I've done that before). But the Welt, the factory tour and the BMW Museum were all spectacular, as was Munich. Great city; amazing beer and beer gardens!

rossbyoung
05-23-2009, 09:25 PM
I have a new 750i (Sports package, virtually all options, black) with 600 miles and an engine malfunction warning and a badly missing engine. I have followed the EMF warnings here and will post as to my experience. My previous car was a CL55, and the comparisons between the two are interesting (to me): CL more torquey, raw; 750 more technical, better features, and more comfortable. With this failure (just an inconvenience, but annoying with less than 1K), I realize that I like, but do not love, the car.

Dealer here is strong (Grayson), and I have a good relationship with them through employee purchases and a prior 740. I will post fix details as they occur.

This forum has been helpful to me in research; thank you all.

burf
05-28-2009, 05:08 PM
i hate that you can't fast forward through a multimedia from your steering wheel !!!!!!

rossbyoung
06-06-2009, 04:27 AM
The issue was perhaps solved with a hard, power-off computer reboot. I have another thousand miles on the car and it is fine, although it still makes me think the underlying issue (software?) may still be out there.

baga
06-18-2009, 10:24 AM
i am getting 750li ED in july. MSRP a little over 99k, got it for 88k..

hayden
06-18-2009, 01:12 PM
ED in August on a 750Li with every option. MSRP was $113k, got it for $100k.

asaseaban
07-21-2009, 09:40 AM
hayden,

every option including night vision for $100k?

I assume $100k is without tax and all the other fees and stuff that comes with financing or leasing, right?

hayden
07-21-2009, 11:28 AM
every option including night vision for $100k?

I assume $100k is without tax and all the other fees and stuff that comes with financing or leasing, right?

Every option:
Black Sapphire Metallic
Black Nappa Leather
Fineline Matte Wood Trim
Camera Package
Convenience Package
Driver Assistance Package
Luxury Rear Seating Package
Luxury Seating Package
Premium Sound Package
Rear Entertainment Package
Sport Package
Active Cruise Control
Ceramic Controls
Head-up Display
Instrument panel with leather finish
Massaging rear seat
Smartphone Integration
Satellite radio with 1 year subscription
Night Vision with Pedestrian Detection

with the Gas Guzzler tax it's actually $100,890. (MSRP was $114,050) That does not include sales tax or any other misc. doc fees, etc.

Edit: It was $100,890, not $101,890. Sorry.

asaseaban
07-21-2009, 08:26 PM
Hayden,
A dealership is offering me 09 750 Li ED with every option except for night vision for $99,705 (MSRP $111,420). Compare to your deal i don't think i'm getting a good deal, am i? How do i bargain for lower price or if i'm leasing how do i get a good deal with low monthly payment.

hayden
07-21-2009, 08:40 PM
This is how my deal breaks down:

Base European Delivery MSRP $72,040
Camera Package $685
Convenience Package $1,545
Driver Assistance Package $1,230
Luxury Rear Seating Package $3,185
Luxury Seating Package $2,275
Premium Sound Package $1,820
Rear Entertainment Package $2,000
Sport Package $4,460
Active Cruise Control $2,135
Ceramic Controls $590
Head-up Display $1,090
Instrument panel with leather finish $1,090
Massaging rear seat $180
Smartphone Integration $135
Satellite radio with 1 year sub. $540
Night Vision with Pedestrian Detection $2,365
Destination & Handling $825
Gas Guzzler Tax $1000
Dealer Profit $1700
________________________
Total Cost $100,890

These are all simply invoice prices + the dealer profit as stated. Theoretically you can do better since most members suggest you should only need to pay between $500- $1000 to the dealer, vs. my $1700.

hayden
07-21-2009, 08:43 PM
A dealership is offering me 09 750 Li ED with every option except for night vision for $99,705 (MSRP $111,420).

My math shows they are trying to make exactly $2925 off the deal. Try to get them lower.

asaseaban
07-22-2009, 02:31 AM
Hayden,

That's what i thought too. I've requested for the price drop so i'm waiting to hear from the dealership. Will let you know what they say.

asaseaban
07-22-2009, 07:54 AM
This is the reply i received from the dealership

"Dear Sir,

The pricing I sent you is the best possible price, we do not sell the 7 Series for wholesale cost, we are only making $2k profit on the deal. Actually when we do a Euro Delivery it does come out of our allocation as well as an additional unit.

Also, I have alreay submitted the paperwork and the car has started production so I cannot change it. I was just emailed by the ED department and your confirmed delivery date is 9/5/09. They should be sending you a CC with it as well very soon.

Thank you for accepting my email,"


$2k profit? I thought dealership makes around $1k or so on ED profit?

hayden
07-22-2009, 08:04 AM
we are only making $2k profit on the deal.

$2k is a lot. So I assume they reduced the price by $925 to claim that the profit is only $2k?

Actually when we do a Euro Delivery it does come out of our allocation as well as an additional unit.

I suspect that's a lie. I would ask one of the CA's on the board, or call BMW ED department to confirm that and also check on the "status" of your car to see if it indeed has already been produced. 800-932-0831. My guess is it has, since I have a 8/27 delivery and my car went into production last Friday.

Also, I have alreay submitted the paperwork and the car has started production so I cannot change it.

They can change the price anytime they want before you sign the final purchase agreement. The PO you signed doesn't have pricing.

hayden
07-22-2009, 08:06 AM
asaseaban - where are you located? is this a big dealer, or remote with small volume?

asaseaban
07-22-2009, 08:31 AM
It's a big dealership. Here is their info

BMW of Sterling
21826 Pacific Blvd
Sterling, VA 20166-9283
(571) 434-1944

hayden
07-22-2009, 10:21 AM
It's a big dealership.

I'm fairly certain it doesn't come out of their allocation. Let me know when you find out for sure...

asaseaban
07-22-2009, 12:08 PM
The dealership is saying that a Bulletin was recently issued for all ED cars to come out of their allotment. They won't show me the Bulleting but they claim that's why my order is coming from their allocation.

I just received my VIN and the tracking shows "Scheduled for Production" so now i need to gather all the information i need to get the best deal possible. I got really screwed on my first lease so i'm being extra, extra, extra careful and watchful this time.

Not sure if i should ask this question here but
how do i determine if i'm getting the correct percentage or Residual value?
How do i determine the money factor (MF) or the lease interest rate?
If i do Multiple Security Deposit (MSD) how do i ensure is refundable or return at lease end?
Since i'm a returning BMWFS customer i can skip the Security Deposit (SD) but what if the dealership insist on SD as requirement for the lease?
Lastly, what figure should i look for on the paperwork? the $99,705 ED that i'm being offered or the $111,420 MSRP?

hayden
07-22-2009, 12:56 PM
The dealership is saying that a Bulletin was recently issued for all ED cars to come out of their allotment.

I've posted in the ED forum, so lets see what others say. Hopefully a CA will respond.

http://www.bimmerfest.com/forums/showthread.php?t=385163


I just received my VIN and the tracking shows "Scheduled for Production" so now i need to gather all the information i need to get the best deal possible.

Call the automated line at (800) 831-1117 to verify. Sometimes the website is not updated. If you are indeed "scheduled for production" that means it hasn't started yet, but I'm sure its just a matter of days for your delivery date.

how do i determine if i'm getting the correct percentage or Residual value?

2009 BMW 750Li as of July 2009:
24 Month ***8211; Residual 50% of MSRP ***8211; .00090 Base Rate
36 Month ***8211; Residual 45% of MSRP ***8211; .00090 Base Rate
48 Month ***8211; Residual 33% of MSRP ***8211; .00265 Base Rate
60 Month ***8211; Residual 28% of MSRP ***8211; .00265 Base Rate

(Residuals posted are for 15K miles/year. Add 2% to Residual for 12k mi/yr and 3% for 10k mi/yr on all term)

How do i determine the money factor (MF) or the lease interest rate?

As long as your term is 36 months or less, your MF is .0009 + .0003 for ED, for a total of .0012


If i do Multiple Security Deposit (MSD) how do i ensure is refundable or return at lease end?

Do a search on that issue... there is lots of discussion on it.


Since i'm a returning BMWFS customer i can skip the Security Deposit (SD) but what if the dealership insist on SD as requirement for the lease?

As far as I know you should not be required to supply a SD if you are a previous customer.


Lastly, what figure should i look for on the paperwork? the $99,705 ED that i'm being offered or the $111,420 MSRP?

You can do the calulation based on this:
http://www.bimmerfest.com/pdf/pricing/2009/BMW-my-2009-7-series-pricing.pdf

asaseaban
07-22-2009, 01:46 PM
WOW! That's a lot of useful information you've given me. I had no clue about any of these stuff. No wonder I got screwed big time on my first and current lease.

I was just asked to come in and sign the PO and stuff. Is the PO different from the lease agreement?
Can I sign the PO now and then the lease agreement later?
I heard I can wait atleast two weeks prior to the delivery date before I sign the lease. Does that hold water or the dealership can insist I close everything now?

Thanks a bunch for all the information you have given me. I feel so empowered and educated now you have no idea.

hayden
07-22-2009, 01:54 PM
I was just asked to come in and sign the PO and stuff. Is the PO different from the lease agreement?

The PO is just the European Delivery "Purchase Order". It is not the purchase agreement and has no pricing information on it. It simply verifies your car, color, options and pick-up date. You will need to sign that soon, and provide a deposit of between $500 - $1000.

Can I sign the PO now and then the lease agreement later? I heard I can wait atleast two weeks prior to the delivery date before I sign the lease. Does that hold water or the dealership can insist I close everything now?

You don't want to sign the lease paperwork now, because that will start your lease now. Two weeks is ok, but I will be going in 7 days prior to pickup to sign the paperwork. That means I will be paying my lease for 7 days before I even have the car. (In addition to the weeks waiting for it to arrive back from Europe... although BMW will make 1 payment on your behalf) However, I do suggest you get your final settled pricing and figures in writing. That way you wont have to worry about anything changing between now and then.

Thanks a bunch for all the information you have given me. I feel so empowered and educated now you have no idea.

Happy to help. Check out the European Delivery forum and wiki. They provide lots of great information.

asaseaban
07-22-2009, 04:44 PM
Thanks. The ED forum has a lot information that i'm adding to my arsenal. I have a feeling my second lease is gonna be much better than my first lease thanks to you.

JSpira
07-23-2009, 06:48 AM
I'm fairly certain it doesn't come out of their allocation. Let me know when you find out for sure...
I've addressed the question re allocation here (http://www.bimmerfest.com/forums/showpost.php?p=4371065&postcount=8)

asaseaban
07-23-2009, 08:50 AM
In preparation for my lease i've done my homework and computed some figures that i expect to see or close to it on my final lease. I'm open for any suggestions as to where i should be a little flexible, where to watchout for dealership mathetical tricks or where to save some money. I'm thinking about doing MSD but i heard it maybe hard to get it back at lease end.

hayden
07-23-2009, 09:46 AM
I prefer this site:
http://www.leaseguide.com/calc.htm

My 36 month lease (12k mi. per year) is approx. $1550/mo. before tax. That is based on a total of $4000 drive away costs.

If you were to also do $4000 drive-away (inc. all fees), with 10k mi. per year, I calculate your lease would be approx. $1495/mo. before tax.

asaseaban
07-23-2009, 10:27 AM
Ok. I'll recalculate based on $4k drive-away cost and compare. I'll also use the leaseguide calculator and see how that comes up.

freshwhite335
07-23-2009, 06:35 PM
750i
Jet Black/Black/Ash Grain
Sport Pack
Camera Package
Convenience Package
Luxury Seating Package
Premium Sound Package
Head-Up Display
Ceramic Controls
Leather Instrument Panel
Sat Radio

$1000 Gas Guzzler

MSRP: $97,720

Negotiated MSRP: $94,000

36 Month Lease
12k per year
46% Residual
0.0009% MF

Monthly Payment: $1593.47

hayden
07-23-2009, 08:08 PM
Monthly Payment: $1593.47

including tax?

what was the total drive-off amount?

freshwhite335
07-25-2009, 03:02 PM
yes including tax. total drive off is something like $3800. i havent taken delivery yet so i dont remember what my SA told me.

JSpira
07-25-2009, 04:41 PM
yes including tax. total drive off is something like $3800. i havent taken delivery yet so i dont remember what my SA told me.
Why is your service advisor involved in the transaction? :dunno:

hayden
07-25-2009, 05:06 PM
Why is your service advisor involved in the transaction? :dunno:

I'm pretty sure he meant CA, but probably thinking "Sales Associate", or "Sales Advisor", etc... :)

JSpira
07-25-2009, 05:20 PM
I'm pretty sure he meant CA, but probably thinking "Sales Associate", or "Sales Advisor", etc... :)
Could very well be but here SA has only one meaning, while CA could also mean comfort access. :angel:

asaseaban
07-27-2009, 09:21 AM
Hayden,

When you drop off your car, can you let me know if they allow you remove the front and maybe the rear license plate(s)?

JSpira
07-27-2009, 09:28 AM
When you drop off your car, can you let me know if they allow you remove the front and maybe the rear license plate(s)?
What are you asking? :dunno:Both plates must remain on the car at drop-off.

hayden
07-27-2009, 09:32 AM
Hayden,

When you drop off your car, can you let me know if they allow you remove the front and maybe the rear license plate(s)?

J is right. New rule as of July 1. Both plates have to stay on. Based on other posts I think there is a 99% chance we will get them back with the car.

Just to be safe, I will be putting this attachment on the front passenger seat.

XZLR8
07-27-2009, 10:20 AM
J is right. New rule as of July 1. Both plates have to stay on. Based on other posts I think there is a 99% chance we will get them back with the car.

Just to be safe, I will be putting this attachment on the front passenger seat.
I don't remember if it was the front or the back, but we got to take one of the plates with us (and the Germany-required First Aid kit, too). The other plate was delivered with the car.

asaseaban
07-27-2009, 11:20 AM
I guess i'll take my chance and remove the from license plat and if they ask me to put it back on then i'll do so. Also, I'll inform my dealership i want to keep the license plate and hopefully it'll arrive with the car and they will give it to me.

freshwhite335
07-27-2009, 06:07 PM
sorry, yeah i meant CA.

XZLR8
07-27-2009, 08:00 PM
I guess i'll take my chance and remove the from license plat and if they ask me to put it back on then i'll do so. Also, I'll inform my dealership i want to keep the license plate and hopefully it'll arrive with the car and they will give it to me.
When we dropped the car off, the guy who checked it in was very helpful. He told us what we could take, etc. He's the one who reminded us about the First Aid kit and the emergency triangle that, I guess, are requirements for driving in Germany.

JSpira
07-27-2009, 08:10 PM
I guess i'll take my chance and remove the from license plat and if they ask me to put it back on then i'll do so.

Really bad idea. Have you not spent any time in Germany or spent time dealing with Germans? :dunno: They have a fondness for rules and this is not only a rule, but the law of the land.

hayden
07-27-2009, 08:13 PM
Really bad idea.

I agree. They will almost certainly ask you to put it back on. Don't worry about it... you'll get the plates.

asaseaban
07-28-2009, 03:09 AM
I'll just leave the plates on there and wait patiently :-) for delivery.

BMR2009
07-28-2009, 05:54 AM
Great information guys. Almost convinced me to lease instead of buying~

asaseaban
07-28-2009, 10:05 AM
I need some advise or help in making a decision. Swaplease.com and Leasetrader.com are all offering to list my car on their site so someone can take over my lease because the $1408.86 a month is a sweet deal compare to the $1550 plus deals they currently have for 09 750Li's.

It look like i'm not gonna recoop any of my downpayment unless i try to sell it on ebay or Autotrader.com. 09 750Li's similar to mine with the same options (some with more miles than mine) are selling anywhere between $92 and $98k on ebay.

On the other hand, my CA/Dealership (i'm dealing with a new CA/Dealership now) has agreed for me to trade-in the car so i can get into the lease for my ED. According to BMWFS, the pay off amount is approximately $86k which means the CA or dealership SHOULDN'T roll anything into my new lease since the car is definitely worth more than $86k and if anything should give me some money back (fingers cross) but i'll definitely loose all my $26k downpayment.

What should i do?

1) Have someone takeover the lease (i have to pay some fees for the take over)

2) Try to sell it on ebay or Autotrader.com (hopefully make some $$ and pay off my lease)

3) Trade-in (and pray the dealership give me $86k or more so nothing is roll into my new lease)

4) Seek other options (i don't know what else to do. i'm open to suggestions)

Thanks in advance for any help/suggestions you can offer.

JSpira
07-28-2009, 10:11 AM
I need some advise or help in making a decision. Swaplease.com and Leasetrader.com are all offering to list my car on their site so someone can take over my lease because the $1408.86 a month is a sweet deal compare to the $1550 plus deals they currently have for 09 750Li's.

It look like i'm not gonna recoop any of my downpayment unless i try to sell it on ebay or Autotrader.com. 09 750Li's similar to mine with the same options (some with more miles than mine) are selling anywhere between $92 and $98k on ebay.

On the other hand, my CA/Dealership (i'm dealing with a new CA/Dealership now) has agreed for me to trade-in the car so i can get into the lease for my ED. According to BMWFS, the pay off amount is approximately $86k which means the CA or dealership SHOULDN'T roll anything into my new lease since the car is definitely worth more than $86k and if anything should give me some money back (fingers cross) but i'll definitely loose all my $26k downpayment.

What should i do?

1) Have someone takeover the lease (i have to pay some fees for the take over)

2) Try to sell it on ebay or Autotrader.com (hopefully make some $$ and pay off my lease)

3) Trade-in (and pray the dealership give me $86k or more so nothing is roll into my new lease)

4) Seek other options (i don't know what else to do. i'm open to suggestions)

Thanks in advance for any help/suggestions you can offer.

Just so we understand, why did you put $26000 down on a lease and why are you replacing the 09 so quickly?

advocado
07-28-2009, 10:16 AM
I left both of my plates on my car at drop off. They were still on the car at delivery 6 weeks later. I did remove and take with me the first aid kit and triangle. These were replaced at the VDC with the US version, which was not a good as the German kit. Now I have both. I put the US kit in another car.

hayden
07-28-2009, 10:34 AM
I need some advise or help in making a decision. Swaplease.com and Leasetrader.com are all offering to list my car on their site so someone can take over my lease because the $1408.86 a month is a sweet deal compare to the $1550 plus deals they currently have for 09 750Li's.

It look like i'm not gonna recoop any of my downpayment unless i try to sell it on ebay or Autotrader.com. 09 750Li's similar to mine with the same options (some with more miles than mine) are selling anywhere between $92 and $98k on ebay.

On the other hand, my CA/Dealership (i'm dealing with a new CA/Dealership now) has agreed for me to trade-in the car so i can get into the lease for my ED. According to BMWFS, the pay off amount is approximately $86k which means the CA or dealership SHOULDN'T roll anything into my new lease since the car is definitely worth more than $86k and if anything should give me some money back (fingers cross) but i'll definitely loose all my $26k downpayment.

What should i do?

1) Have someone takeover the lease (i have to pay some fees for the take over)

2) Try to sell it on ebay or Autotrader.com (hopefully make some $$ and pay off my lease)

3) Trade-in (and pray the dealership give me $86k or more so nothing is roll into my new lease)

4) Seek other options (i don't know what else to do. i'm open to suggestions)

Thanks in advance for any help/suggestions you can offer.

asaseaban - I'm confused. Do you own a car now, or are you leasing? Please clarify.

asaseaban
07-28-2009, 10:50 AM
I've always purchased my 7er and since i was getting into a new 7er almost every 3/4 years i thought it'll be best to lease. Somehow, when i was doing the paper work for my current lease i was still under the impression of financing (yes, believe it or not but all i was thinking of financing terms even though i was leasing) and thought paying for my taxes and fees upfront and also trading in my 745Li (paid with title in hand) will help minimize the down payment. Furthermore, i thought when i traded the car in after 3/4 years i'll get some of the money back or i could just sell it and use the money for another 7er or just keep the car.

Yes i'll admit this is all my fault because i was clueless about leasing and having a lower monthly payment (for finance) was preferrable, hence the $26 downpayment.

So to answer your question, i put down $26k to minimize my monthly payment for "financing" the vehicle and not lease it. Secondly, i wanted several other options that i didn't have and when i findout about the ED program and how i could get all the options i wanted for $12k less than what i currently have i decided to take it.

I'm only getting rid of my current 09 750Li so i can get into another 750Li with more options and pay almost the same monthly payment as i'm currently paying.

I sign for a 42 months with 35k miles lease that was presented to me and i didn't question anything because financing and leasing had blur together in my mind.

Basically i got into something that i didn't know anything about and i got screwed. I'm willing to take my losses and get the car with the options that i really wanted.

asaseaban
07-28-2009, 10:53 AM
asaseaban - I'm confused. Do you own a car now, or are you leasing? Please clarify.

Hayden,

I'm leasing the car now. When i called BMWFS they told me my payoff amount was approximately $86k and it's good thru 8/5/2009. If they receive the payment by that date they will mail me the title for the car.

hayden
07-28-2009, 10:55 AM
I've always purchased my 7er and since i was getting into a new 7er almost every 3/4 years i thought it'll be best to lease. Somehow, when i was doing the paper work for my current lease i was still under the impression of financing (yes, believe it or not but all i was thinking of financing terms even though i was leasing) and thought paying for my taxes and fees upfront and also trading in my 745Li (paid with title in hand) will help minimize the down payment. Furthermore, i thought when i traded the car in after 3/4 years i'll get some of the money back or i could just sell it and use the money for another 7er or just keep the car.

Yes i'll admit this is all my fault because i was clueless about leasing and having a lower monthly payment (for finance) was preferrable, hence the $26 downpayment.

So to answer your question, i put down $26k to minimize my monthly payment for "financing" the vehicle and not lease it. Secondly, i wanted several other options that i didn't have and when i findout about the ED program and how i could get all the options i wanted for $12k less than what i currently have i decided to take it.

I'm only getting rid of my current 09 750Li so i can get into another 750Li with more options and pay almost the same monthly payment as i'm currently paying.

I sign for a 42 months with 35k miles lease that was presented to me and i didn't question anything because financing and leasing had blur together in my mind.

Basically i got into something that i didn't know anything about and i got screwed. I'm willing to take my losses and get the car with the options that i really wanted.

So to clarify, you have:
1. a 200_ 745Li that you own outright
2. a 2009 750Li that you are leasing with a monthly payment of $1408.86. (48 month term) You paid $__ down?

You want to:
1. Get rid of both cars and lease a new ED 2009 750Li for 36 months

Is this correct?

JSpira
07-28-2009, 10:56 AM
I'm glad you found Bimmerfest NOW before the next lease!

asaseaban
07-28-2009, 10:59 AM
Hayden,

Sorry for the confusion but the 745Li is what i traded in to get the 09 750Li. I want to get rid of the current 750Li i'm leasing so i can get into ED 750Li which has all the options that my current 750Li does not have. The Euro trip is also a factor even though i can do my own Euro trip another time.

What I currently have
09 750Li Sedan
Mineral White Metallic
Oyster Nappa Leather
Fine Line High Gloss Wood trim
Camera Package
Convenience Package
Driver Assistance Package
Luxury Rear Seating Package
Luxury Seating Package
Premium Sound Package
Rear Entertainment Package
19" Light-alloy wheels multi-spoke (Style 235) w/performance tires
Ceramic Controls
Head-up Display
Instrument panel with leather finish
Smartphone Integration
Satellite radio with 1 year subscription
MSRP $105,569.00 (didn***8217;t get any discount or whatsoever)


What I plan on getting
09 750Li Sedan
Titanium Silver Metallic
Saddle and Black Nappa Leather
Fine Line High Gloss Wood trim
Camera Package
Convenience Package
Driver Assistance Package
Luxury Rear Seating Package
Luxury Seating Package
Premium Sound Package
Rear Entertainment Package
Sport Package
Active Cruise Control
Ceramic Controls
Head-up Display
Instrument panel with leather finish
Massaging rear seat
Smartphone Integration
MSRP $111420, ED MSRP $98825 (including dealership profit)

asaseaban
07-28-2009, 11:16 AM
That's correct!

dm5272
07-28-2009, 11:46 AM
What! No Individual Package???

Kidding -

Looks like a great setup there! ED is AMAZING!

hayden
07-28-2009, 12:15 PM
Sorry for the confusion but the 745Li is what i traded in to get the 09 750Li. I want to get rid of the current 750Li i'm leasing so i can get into ED 750Li which has all the options that my current 750Li does not have. The Euro trip is also a factor even though i can do my own Euro trip another time.

Got it. Looks like selling it privately will yield you the most return at this point. That sure is an ugly situation asaseaban! :yikes:

How much was your total drive-off (down payment + 1st month + fees, etc) for the current 750Li you have now?

asaseaban
07-28-2009, 02:10 PM
Got it. Looks like selling it privately will yield you the most return at this point. That sure is an ugly situation asaseaban! :yikes:

How much was your total drive-off (down payment + 1st month + fees, etc) for the current 750Li you have now?

$26,150.12 to be exact.

I'm sure in one heck of an ugly situation...but so far i've learn a lot...not only about leasing but about life as well; don't do anything unless you know what f**** you're doing or getting into.

Will put it on Ebay and Autotrader and see what happens.

hayden
07-28-2009, 02:32 PM
$26,150.12 to be exact.

:wow: Holy F! On top of everything else... the 48 month term was really a killer since the MF goes up so dramatically.

asaseaban
07-28-2009, 02:38 PM
:wow: Holy F! On top of everything else... the 48 month term was really a killer since the MF goes up so dramatically.

It wasn't 48 months...it was 42 months. Now that i've seen some of the the basic lease deals out there, 42 is not even in there...24, 36, 48, etc. How the finance guy managed to give me a 42 months lease with 35k miles still beats me.

Seriously, i didn't comeup with any of these numbers. The finance guy basically gave me the sheet and really emphasized on the low monthly payments and i just sign everything and that was it.

hayden
07-28-2009, 02:47 PM
It wasn't 48 months...it was 42 months. Now that i've seen some of the the basic lease deals out there, 42 is not even in there...24, 36, 48, etc. How the finance guy managed to give me a 42 months lease with 35k miles still beats me.

Seriously, i didn't comeup with any of these numbers. The finance guy basically gave me the sheet and really emphasized on the low monthly payments and i just sign everything and that was it.

I would really love to see your purchase agreement to see how they calculated all this. Can you scan it and post it? You can black out or blur any sensitive info.

asaseaban
07-28-2009, 02:51 PM
Will find a scanner and scan it. Not sure how it will look since it's one of those long yellow sheets.

DXK
07-28-2009, 02:53 PM
It wasn't 48 months...it was 42 months. Now that i've seen some of the the basic lease deals out there, 42 is not even in there...24, 36, 48, etc. How the finance guy managed to give me a 42 months lease with 35k miles still beats me.

Seriously, i didn't comeup with any of these numbers. The finance guy basically gave me the sheet and really emphasized on the low monthly payments and i just sign everything and that was it.

What the dealership has done here borders on the abuse of customers.
You might want to contact BMWNA and send them a copy of your lease and ask them if this is how they want their dealerships to treat their highest margin customers.

chrischeung
07-28-2009, 04:05 PM
What the dealership has done here borders on the abuse of customers.
You might want to contact BMWNA and send them a copy of your lease and ask them if this is how they want their dealerships to treat their highest margin customers.

I'd argue that caveat emptor was ignored instead. The dealer presented a deal, and it was agreed upon. What should the dealer have done differently? Not mark up the MF?

The important thing is, a lesson learned, an error not to be repeated.

asaseaban
07-28-2009, 04:27 PM
I'd argue that caveat emptor was ignored instead. The dealer presented a deal, and it was agreed upon. What should the dealer have done differently? Not mark up the MF?

The important thing is, a lesson learned, an error not to be repeated.

Exactly! I made a mistake and my hope is by sharing this information on this forum others MAY or WILL learn from it and NEVER experience my predicament.

DXK
07-28-2009, 04:41 PM
I'd argue that caveat emptor was ignored instead. The dealer presented a deal, and it was agreed upon. What should the dealer have done differently? Not mark up the MF?

The important thing is, a lesson learned, an error not to be repeated.

you think MF markup was it? Have you calculated his total price??
The dealer went out of his way to screw him. If you want to defend it - fine, but he has a right to fight it if he doesn't like it.

SARAFIL
07-28-2009, 04:54 PM
you think MF markup was it? Have you calculated his total price??
The dealer went out of his way to screw him. If you want to defend it - fine, but he has a right to fight it if he doesn't like it.


Well, looks like they sold the car at MSRP and did 42 months instead of 36 months, because 42 months uses "standard" rate that can be marked up alot more than the subvented rate for 36 months. They did everything they could to maximize their profit yet I don't see any evidence that they sold over MSRP or charged fees/rates that were more than they were allowed... business is business and buyer beware. Their first offer is going to be maximum profit for the dealer, just like anyone here would probably make their first offer to buy the car one that gives them the lowest possible price at the expense of the dealer's profit. Unfortunate-- yes. But, it's the risk you take when you lease car without a basic understanding of how it works.

DXK
07-28-2009, 05:00 PM
Well, looks like they sold the car at MSRP and did 42 months instead of 36 months, because 42 months uses "standard" rate that can be marked up alot more than the subvented rate for 36 months. They did everything they could to maximize their profit yet I don't see any evidence that they sold over MSRP or charged fees/rates that were more than they were allowed... business is business and buyer beware. Their first offer is going to be maximum profit for the dealer, just like anyone here would probably make their first offer to buy the car one that gives them the lowest possible price at the expense of the dealer's profit. Unfortunate-- yes. But, it's the risk you take when you lease car without a basic understanding of how it works.

I think I saw the attachment with his numbers that showed inflated Cap cost by $4322 on top of MSRP, is that not correct?

chrischeung
07-28-2009, 05:04 PM
you think MF markup was it? Have you calculated his total price??
The dealer went out of his way to screw him. If you want to defend it - fine, but he has a right to fight it if he doesn't like it.

Naturally - but isn't complaining to BMW the wrong audience?

Wouldn't this instead be the folks who regulate the auto industry? I'm not sure BMW dealers should operate under different rules to any other auto dealer out there. So BMW should illegally tell their dealers that they cannot sell their cars over MSRP, above inovice, or some fixed amount? What would you advise BMW to legally do in this case? Tell the dealer to make less profit because they made so much money last year?

And before you say that this is not common practice in retailing - it is widely known that companies like Toys R'us sell their products for over MSRP. Do you see price continuity between grocery stores? The price of milk? Airline tickets? Why should selling cars be any different?

Sure - the purchaser is free to do whatever he wants - but if the dealer was fully within the law and general automotive selling practices, I don't see BMW or anyone changing anything. All that does is waste the purchaser's time.

DXK
07-28-2009, 05:14 PM
Naturally - but isn't complaining to BMW the wrong audience?

Wouldn't this instead be the folks who regulate the auto industry? I'm not sure BMW dealers should operate under different rules to any other auto dealer out there. So BMW should illegally tell their dealers that they cannot sell their cars over MSRP?

I am against regulations, I am for fair business practices. The reason I suggested BMWNA is that the type of customer who buys 7 is the most valuable since the profit margin is huge, although unit value is not, it's still very important market segment.
Do you really believe that everyone should be screwing everyone else as much as possible?
What if the customer is 90 years old, doesn't understand leasing, doesn't have access to any help, should he then be really focked up as much as possible? Should the dentist put extra fillings in your teeth if you cannot read xrays?

chrischeung
07-28-2009, 05:18 PM
Exactly! I made a mistake and my hope is by sharing this information on this forum others MAY or WILL learn from it and NEVER experience my predicament.

Before I found info on boards like this, I overpaid as well. I learned my lessons, and was better for it. In fact, it makes the purchasing process simpler for the seller as well. I get rewarded with a lower price - and the seller gets a quicker and smoother sale.

DXK
07-28-2009, 05:19 PM
Naturally - but isn't complaining to BMW the wrong audience?

Wouldn't this instead be the folks who regulate the auto industry? I'm not sure BMW dealers should operate under different rules to any other auto dealer out there. So BMW should illegally tell their dealers that they cannot sell their cars over MSRP, above inovice, or some fixed amount? What would you advise BMW to legally do in this case? Tell the dealer to make less profit because they made so much money last year?

And before you say that this is not common practice in retailing - it is widely known that companies like Toys R'us sell their products for over MSRP. Do you see price continuity between grocery stores? The price of milk? Airline tickets? Why should selling cars be any different?
Sure - the purchaser is free to do whatever he wants - but if the dealer was fully within the law and general automotive selling practices, I don't see BMW or anyone changing anything. All that does is waste the purchaser's time.

Don't they list their prices on the product and then verify at checkout? Or do they hide them in the Toys R'us cost cap adjustment so folks cannot understand this?

chrischeung
07-28-2009, 05:20 PM
I am against regulations, I am for fair business practices. The reason I suggested BMWNA is that the type of customer who buys 7 is the most valuable since the profit margin is huge, although unit value is not, it's still very important market segment.
Do you really believe that everyone should be screwing everyone else as much as possible?
What if the customer is 90 years old, doesn't understand leasing, doesn't have access to any help, should he then be really focked up as much as possible? Should the dentist put extra fillings in your teeth if you cannot read xrays?

What is your legal solution that solves every scenario and pleases all parties?

chrischeung
07-28-2009, 05:26 PM
Don't they list their prices on the product and then verify at checkout? Or do they hide them in the Toys R'us cost cap adjustment so folks cannot understand this?

Do you understand sales taxes? Coming from Australia, my first visit to the US was interesting, when I found that you pay $2.12 for a $2 book. Cap Cost is something specific to leasing in the auto industry. It's the buyers responsibility to find out about the terms of leasing, and read all documentation. It is not the seller's responsibility to explain it to them.

When I did my first lease, I asked for a blank copy of the form a day or so before signing so that I could read and resarch. If you don't like the form - lobby to get it changed.

DXK
07-28-2009, 05:27 PM
What is your legal solution that solves every scenario and pleases all parties?

I don't have one; they don't teach it at HBS. I was referring to this case because it was too egregious. The common practive among some dealers I've talked to in the Boston area, if the customer is ignorant, sell it for 1K under MSRP, markup the MF and call it a day.

asaseaban
07-28-2009, 05:28 PM
Came across this pictures and thought i'll share it
http://318is.com/index.php/the-bmw-7-series/behind-the-design-of-the-bmw-7-series.html

DXK
07-28-2009, 05:34 PM
Do you understand sales taxes? Coming from Australia, my first visit to the US was interesting, when I found that you pay $2.12 for a $2 book. Cap Cost is something specific to leasing in the auto industry. It's the buyers responsibility to find out about the terms of leasing, and read all documentation. It is not the seller's responsibility to explain it to them.
When I did my first lease, I asked for a blank copy of the form a day or so before signing so that I could read and resarch. If you don't like the form - lobby to get it changed.

Sure it's a buyer's, but there is no social responsibility on the part of a business to any individual no matter how disadvantaged he may be, correct? Hence the banking crisis, right? People should have read their contracts, and the banks that were buying the derivatives should have known what they were buying. oops the guys at Goldman made it impossible to understand; still.... that's how it should be

chrischeung
07-28-2009, 10:40 PM
Sure it's a buyer's, but there is no social responsibility on the part of a business to any individual no matter how disadvantaged he may be, correct?
Correct. It rubs the other way as well - purchasers have no social responsibility that the dealership makes a sufficient return (otherwise none would go out of business). Their responsibility is to get the best price they can. Period.

The purchaser should have talked to someone who would represent his best interests - like an accountant or friend expert in these transactions. Same goes for buying a home - why not a car? There was also the feedback survey that the dealership would get dinged on.

DXK
07-29-2009, 07:05 AM
OK, as I said I understand your philosophy and it's a common one. The buyer has to always know as much as the seller; this is not always possible of course as I have demonstrated with derivatives example, dentist, car repair, financial advise, and so on, but fine. The problem is, when the businesses don't police themselves, governments do, which will result in forthcoming regulations even worse than Sarbanes-Oxley and that would not be good for the country as a whole.

asaseaban
07-31-2009, 04:22 AM
Anyone know how to "Restore Factory Settings" or "Restore Defaults" or basically erase all personal information such as navigation destinations, contacts, telephone numbers, music store on the built-in hard driver, profiles, etc from the new F01/F02 7 series? I'm trying to sell my car and would like to erase all personal information from it before giving it away.

asaseaban
07-31-2009, 12:27 PM
.