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  #1  
Old 02-28-2006, 01:06 PM
wmbiii wmbiii is offline
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Fee question related to ordering new 2007 BMW

I finally met with my dealer, test drove a 550i. Really a great car. Love the Monaco Blue and Beige interior, that's a done deal folks!

Anyway he wrote up what I wanted (2007 prices are not 100% final so that may be adjusted). car came to about $66K MSRP with my options (2007 550, manual, nasca leather, sport, cold, logic 7, shades). Per this board I plan on talking them down to $1500 over invoice which should get me to about $62 - 63K

My question is this; he said they would expect a 5% non-refundable downpayment to order this car. He said if I did it today he could do for $2500.

Does anyone know if this is standard for ordering a car from Germany?

He did state that because there are SO FEW manual 550i's, that I need to take that into account. I presume if I got Step instead of manual that it might be less of a downpayment but my question really come down to this being an arbritary $ number or do they make this up from dealership to dealership and car to car?

He and I went back and forth on the pro's and con's of manual vs. Step. I really want that clutch and feel, but he warned that it kills resale down the road. That the resale in a manual vs. step a few years from now can be thousands in difference. Think that is a true statement? (flip side is if there are so few manuals, then by having one I should be ahead of the game when wanting to sell the car, no?) He didn't try to talk me out of step and was very straight shooter on the subject.

I told him I would get back to him. Your thoughts and advice on both issues, but especially the downpayment, are appreciated.
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  #2  
Old 02-28-2006, 01:16 PM
Robert A Robert A is offline
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I wouldn't object to the deposit, so long as all aspects of the deal are cemented in advance -- including the exact price and the lease terms (if you lease). FWIW, here in California there is no such thing as a nonrefundable deposit.

One other thing you might consider, is why not just fly to Germany, pick it up there and save another few thousand dollars?

Quote:
Originally Posted by wmbiii
I finally met with my dealer, test drove a 550i. Really a great car. Love the Monaco Blue and Beige interior, that's a done deal folks!

Anyway he wrote up what I wanted (2007 prices are not 100% final so that may be adjusted). car came to about $66K MSRP with my options (2007 550, manual, nasca leather, sport, cold, logic 7, shades). Per this board I plan on talking them down to $1500 over invoice which should get me to about $62 - 63K

My question is this; he said they would expect a 5% non-refundable downpayment to order this car. He said if I did it today he could do for $2500.

Does anyone know if this is standard for ordering a car from Germany?

He did state that because there are SO FEW manual 550i's, that I need to take that into account. I presume if I got Step instead of manual that it might be less of a downpayment but my question really come down to this being an arbritary $ number or do they make this up from dealership to dealership and car to car?

He and I went back and forth on the pro's and con's of manual vs. Step. I really want that clutch and feel, but he warned that it kills resale down the road. That the resale in a manual vs. step a few years from now can be thousands in difference. Think that is a true statement? (flip side is if there are so few manuals, then by having one I should be ahead of the game when wanting to sell the car, no?) He didn't try to talk me out of step and was very straight shooter on the subject.

I told him I would get back to him. Your thoughts and advice on both issues, but especially the downpayment, are appreciated.
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  #3  
Old 02-28-2006, 02:43 PM
pfitzpa1 pfitzpa1 is offline
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Quote:
Originally Posted by wmbiii
I finally met with my dealer, test drove a 550i. Really a great car. Love the Monaco Blue and Beige interior, that's a done deal folks!

Anyway he wrote up what I wanted (2007 prices are not 100% final so that may be adjusted). car came to about $66K MSRP with my options (2007 550, manual, nasca leather, sport, cold, logic 7, shades). Per this board I plan on talking them down to $1500 over invoice which should get me to about $62 - 63K

My question is this; he said they would expect a 5% non-refundable downpayment to order this car. He said if I did it today he could do for $2500.

Does anyone know if this is standard for ordering a car from Germany?

He did state that because there are SO FEW manual 550i's, that I need to take that into account. I presume if I got Step instead of manual that it might be less of a downpayment but my question really come down to this being an arbritary $ number or do they make this up from dealership to dealership and car to car?

He and I went back and forth on the pro's and con's of manual vs. Step. I really want that clutch and feel, but he warned that it kills resale down the road. That the resale in a manual vs. step a few years from now can be thousands in difference. Think that is a true statement? (flip side is if there are so few manuals, then by having one I should be ahead of the game when wanting to sell the car, no?) He didn't try to talk me out of step and was very straight shooter on the subject.

I told him I would get back to him. Your thoughts and advice on both issues, but especially the downpayment, are appreciated.
What if they mess up your order, or when the car is received it is not to your satisfaction (maybe some damage etc) then you have no leverage. Personally I wouldn't put a non-refundable deposit down. You could offer a higher (refundable) deposit to show your commitment to the purchase.
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  #4  
Old 02-28-2006, 02:47 PM
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chuck92103 chuck92103 is offline
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If I were a dealer, I would not order a car with a manual or SMG tranny without a non-refundable deposit.

Very difficult for them to sell.

You might find a dealer who will do a "refundable" desposit but I don't think it is unreasonable to do this.
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  #5  
Old 02-28-2006, 02:51 PM
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chuck92103 chuck92103 is offline
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Quote:
Originally Posted by wmbiii
He and I went back and forth on the pro's and con's of manual vs. Step. I really want that clutch and feel, but he warned that it kills resale down the road. That the resale in a manual vs. step a few years from now can be thousands in difference. Think that is a true statement?
Yes and no.

Yes in the sense no dealer will give you a fair trade for a manual because they are hard to sell. 4 out of 5 buyers want auto.

No in the sense you can put the car in the paper and possibly find someone that wants a manual so bad, in the color combo you have that they will pay more for it.

A 5 series will sell best if it is Black, Silver, or white, with an auto.

A 5 series in any other color, such as blue, with a manual transmission is a hard, hard seller.

Most people looking for a luxury sedan want autos. However, if you are leasing, all of this is pointless.

Last edited by chuck92103; 02-28-2006 at 02:54 PM.
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  #6  
Old 02-28-2006, 03:08 PM
BayAreaBMWFan BayAreaBMWFan is offline
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I seriously recommend that you lease the car. If you are concerned about the interest charges use the multiple security deposit program or the prepaid program to buy down the interest rates. Dont buy a $66K car for cash/financed. Also do consider ED to save money.

Regarding the deposit, it all depends on the relationship you have with the dealer. He does not want to be stuck with a manual he can not sell so wants a firm commitment from you. I understand his point of view. In CA deposits have to be refunded unless there is a material transaction. If you do not get the car there is no material transaction. I personally would not worry about the deposit if I am serious about the car. The interest you lose is peanuts. If you are paying via a Credit Card the dealer is already losing 2-3% just be accepting your deposit and you have the protection of the credit card company too.
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  #7  
Old 02-28-2006, 03:34 PM
wmbiii wmbiii is offline
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Great points everyone; I really had no clue that black, silver or white were best for resell; they are all so damn plain. I guess I could swallow and get step, but I will so miss that sound!

In terms of leasing, please tell me more about the "multiple security deposit program or the prepaid program to buy down the interest rates". I know nothing about them. I figured a lease on a $65 car would be well over $1000/month. I do know they don't have any specials right now on the 550i.

In terms of refund, I only want a fair price; if the screw up the order, I should have some form of recourse, no?
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  #8  
Old 02-28-2006, 03:37 PM
philippek philippek is offline
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If you're getting a 2007 550i custom ordered to your spec for $1500 over invoice, then don't even bother negotiating on the deposit...just take it and go!
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  #9  
Old 02-28-2006, 03:43 PM
pfitzpa1 pfitzpa1 is offline
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Quote:
Originally Posted by wmbiii
Great points everyone; I really had no clue that black, silver or white were best for resell; they are all so damn plain. I guess I could swallow and get step, but I will so miss that sound!

In terms of leasing, please tell me more about the "multiple security deposit program or the prepaid program to buy down the interest rates". I know nothing about them. I figured a lease on a $65 car would be well over $1000/month. I do know they don't have any specials right now on the 550i.

In terms of refund, I only want a fair price; if the screw up the order, I should have some form of recourse, no?
Quick calculations would put your monthly at around ballpark $950/month for 3 yr and a little less for 2 yr.
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  #10  
Old 02-28-2006, 05:49 PM
compwhiz compwhiz is offline
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Darn - what happened to the true 5-series enthusiasts? Titanium silver with 5-speed should be easy to sell because there are so few of them and true enthusiasts would want a stick.
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  #11  
Old 02-28-2006, 09:59 PM
theworm theworm is offline
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Stick vs Step?

Are you buying the car to drive, or are you buying the car to resell?

"non refundable" deposits are common for configurations that aren't mainstream. The color combo (nice choice - I like the Monaco Blue, too, but ordered Titanium Gray b/c I can't make the commitment to wash and wax every two days) with a stick is an oddball. They want demonstrated commitment on your part. Not unreasonable IMO. I had to do that on my last car but it did have a "if we can't sell the damn thing to someone else" clause.
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  #12  
Old 03-01-2006, 03:53 AM
tcoz tcoz is offline
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Quote:
Originally Posted by wmbiii
In terms of leasing, please tell me more about the "multiple security deposit program or the prepaid program to buy down the interest rates". I know nothing about them. I figured a lease on a $65 car would be well over $1000/month. I do know they don't have any specials right now on the 550i.
http://www.bimmerfest.com/forums/sho...&highlight=msd
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  #13  
Old 03-01-2006, 11:02 AM
wmbiii wmbiii is offline
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I just read that entire thread, thanks....?
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  #14  
Old 03-03-2006, 04:27 PM
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Travis Tucker Travis Tucker is offline
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Quote:
Originally Posted by philippek
If you're getting a 2007 550i custom ordered to your spec for $1500 over invoice, then don't even bother negotiating on the deposit...just take it and go!
Ditto
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  #15  
Old 03-03-2006, 06:23 PM
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wassy wassy is offline
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wmbiii - I've been buying and leasing cars quite often. I have yet to have any BMW dealer ask me or anyone I know of for a deposit to order a car. They can sell it to someone else if you dont' buy it. If you go stupid, and get a bronze car with real gold trim, then maybe they have something to want to collaterize, but really, any 5'er ordered with any available options will be sold at some point to the dealer. PERIOD. They will dealer trade it if worse comes to worse. Believe me, someone in the USA will want that car. You won't be the ONLY one with you exact car.

perhaps you give them a "good faith" REFUNDABLE deposit of $500 MAX.. but that's it buddy.
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  #16  
Old 03-03-2006, 06:38 PM
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Quote:
Originally Posted by wassy
wmbiii - I've been buying and leasing cars quite often. I have yet to have any BMW dealer ask me or anyone I know of for a deposit to order a car. They can sell it to someone else if you dont' buy it. If you go stupid, and get a bronze car with real gold trim, then maybe they have something to want to collaterize, but really, any 5'er ordered with any available options will be sold at some point to the dealer. PERIOD. They will dealer trade it if worse comes to worse. Believe me, someone in the USA will want that car. You won't be the ONLY one with you exact car.

perhaps you give them a "good faith" REFUNDABLE deposit of $500 MAX.. but that's it buddy.
Wassy, the only problem is that who wants to be stuck with a manual nasca leather equipped 550i? Yes, it might me sold at some point, but most centers have what's called floor plan financing and you don't want $66k siiting on the lot for more than 90 days.. trust me. They want a non refundable deposit that will help with floor plan if this car sits on the lot and gets a birthday.
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  #17  
Old 03-09-2006, 12:19 PM
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Quote:
Originally Posted by adrian's bmw
Wassy, the only problem is that who wants to be stuck with a manual nasca leather equipped 550i? Yes, it might me sold at some point, but most centers have what's called floor plan financing and you don't want $66k siiting on the lot for more than 90 days.. trust me. They want a non refundable deposit that will help with floor plan if this car sits on the lot and gets a birthday.

good point!
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  #18  
Old 03-10-2006, 08:38 PM
Patty4264 Patty4264 is offline
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I've ordered several BMW's including an 07 550 and I have only had to put down a $500 non-refundable deposit. I would go to another dealer.
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  #19  
Old 03-11-2006, 03:01 PM
marcpotash marcpotash is offline
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Virginia Law

Car deposits are refundable according to Virginia law. That being said, it would not be ethical for you to order than not purchase.
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