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  #1  
Old 04-15-2010, 02:22 PM
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Brando384 Brando384 is offline
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Negotiating BMW 128i Coupe Lease European Delivery

After reading extensively on this site and figuring out approximate Confidential Wholesale Pricing on ED orders, I just spoke with the person who handles most of the ED orders and she's putting together a quote for me. I told her I was familiar with the ED wholesale pricing.

I thought it might be interesting to post the quote I'm getting and get feedback from other dealers or anybody on here for that matter, as given the current offer, it seems there's room for some negotiating here.

Looking to get a 2011 128i in Black or Sapphire Metallic.
Black Leather (included with value package)
Gray Poplar Wood trim
Cold Weather Package
Premium package
Value Package (n/c)
+Heated Steering Wheel

12,000 miles/year. She told me the residual on a 128i with 12k annual mileage is 62%.

I mentioned multiple security deposits and she told me she's never worked out a scenario where it was cheaper to do that, as it just required more money up front. But didn't I read somewhere that you get the security deposits back? (the multiple security deposits thing is something I didn't really understand).

The ED Wholesale price for the options I listed + destination is $30,175. I was just quoted $31,725, or $1550 above ED Wholesale. First payment $468.28, New York State sales tax ($1475.08), DMV fees ($150), tire fee ($12.50), inspection fee ($10), Doc fee ($75). Cash due on lease $2190.


The 1550 above ED invoice doesn't seem bad for an initial offer, although I'd like my monthly payment to be lower. Any thoughts/suggestions?

Last edited by Brando384; 04-16-2010 at 05:54 AM.
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  #2  
Old 04-15-2010, 04:32 PM
outie outie is offline
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She doesn't seem to be very knowledgeable about leases. You can put up to 7 additional security deposits to reduce the money factor, each reduces 0.00007, or a total of 0.00049. This will reduce your monthly payment by a significant amount. You WILL get your deposits back at the end. However, keep in mind ED leases require a 0.0003 adder to the MF.

$1375 above ED invoice is not bad, esp if you are satisfied with it.

Last edited by outie; 04-15-2010 at 04:48 PM.
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  #3  
Old 04-15-2010, 06:56 PM
pony_trekker pony_trekker is offline
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Quote:
Originally Posted by outie View Post
She doesn't seem to be very knowledgeable about leases. You can put up to 7 additional security deposits to reduce the money factor, each reduces 0.00007, or a total of 0.00049. This will reduce your monthly payment by a significant amount. You WILL get your deposits back at the end. However, keep in mind ED leases require a 0.0003 adder to the MF.

$1375 above ED invoice is not bad, esp if you are satisfied with it.
I am pretty sure in NY State you can't do MSDs as the security deposit is limited to rounding the monthly payment up to the next 50 bucks.
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  #4  
Old 04-15-2010, 08:10 PM
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Originally Posted by pony_trekker View Post
I am pretty sure in NY State you can't do MSDs as the security deposit is limited to rounding the monthly payment up to the next 50 bucks.
not 100% correct... max secuity deposit for NYS dealers is limited to 750. this negates any benefit to the MSD program.
take a look at a 750I lease, 1K monthly, 750 SD in NYS.


OP: you can do MSD through a NJ dealer. they arent restricted like NYS dealers, so there is no problem with getting a car through one of them and registering the car in NYS to take advantage. it cuts down the MF and you get it back at the end of the lease. BMW FS lets you roll it into the next lease now, so for my new car i just had to sign the roll over form and pay the difference between my old SD and new SDs.

I got my car (and past cars) through ricki shamen at bmw of tenafly in NJ. its a bit of a hike from buffalo, but she is very well versed in ED and knows how to do MSDs.
you really dont want a CA that isnt experienced in ED to do your delivery.
rshamen@penskeautomotive.com

absolutely great to deal with, Jspira (ED guru) referred me to her and i couldnt be happier in my dealings with her.
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  #5  
Old 04-15-2010, 11:22 PM
arjuno arjuno is offline
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If you plan on doing an ED lease over purchase, never use a NYS dealer, just doesn't make sense if you are going to take advantage of the max MSDs.

I would take Orient's advice.
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  #6  
Old 04-16-2010, 06:56 AM
BMWofMorristown BMWofMorristown is offline
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This thread gives me the chance to mention (yet again) how great a community of people Bimmerfest is! A client of mine came in to our Center this morning to work on our deal. He mentions about a NY prospect, looking to work MSD's for a 128i! Thank you for the heads up Mike R.!

Anyway OP, I can help with the ED, and MSD's. We are used to working NY deals, and will work hard to make it a smooth process! Give me a call, or email if you like! --Mike
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  #7  
Old 04-16-2010, 08:24 AM
thethethe thethethe is offline
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wait... you can't do MSD in ny?
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  #8  
Old 04-16-2010, 08:30 AM
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Originally Posted by thethethe View Post
wait... you can't do MSD in ny?
not with a NYS dealer.

NYS law limits them to being able to accept a maximum total security deposit of 750.

you can easily do it with a NJ dealer even if the car is registered in NYS.
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  #9  
Old 04-16-2010, 09:32 AM
thethethe thethethe is offline
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now i gotta decide if it is worth the trip to NJ and not getting a loaner when i get my car serviced in NY.
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  #10  
Old 04-16-2010, 09:38 AM
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now i gotta decide if it is worth the trip to NJ and not getting a loaner when i get my car serviced in NY.
why get it serviced in NY? i drive my car down to tenafly, its a 20-30 minute drive, get a loaner, drive back to the city, park it, and go to work.
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  #11  
Old 04-16-2010, 09:41 AM
thethethe thethethe is offline
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i live in queens, close to Long Island, so that is another 20-30 mins from where you live. It seems kinda silly for me to drive 40 mins to get my car serviced in NJ when I can just go to bayside bmw 10 mins away.

o yeah, i forgot about the toll to get in nj from nyc too.
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  #12  
Old 04-16-2010, 10:04 AM
Tuce Tuce is offline
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You can get your car serviced at any dealer - doesn't have to be where you bought it. I'm sure they will be happy to have the business, and it really should have no bearing on whether they will give you a loaner.
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  #13  
Old 04-16-2010, 10:19 AM
whereismybimmer whereismybimmer is offline
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You can take your car to other BMW dealerships for services. However, you usually don't get a loaner. That's from my experience.
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  #14  
Old 04-16-2010, 10:53 AM
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yeah, most NYC dealers will not give you a loaner if you dont buy from them.

although saving 30+ a month on the interest would more than pay for a rental for a day.
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  #15  
Old 04-16-2010, 12:44 PM
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Brando384 Brando384 is offline
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I also realized that I'm getting a higher base rate than .00240 (which is what I thought I read was the rate for 2011 1-series), as my rate is 468/month with 2100 down. If it were .00240, my payments should be closer to 420/month, according to the lease calculation I saw on a different page.

I was told they're giving me the lowest rate possible. I can't really shop elsewhere, as they're a client of my company. Sucks when you live in a city with only one dealership..
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  #16  
Old 04-16-2010, 02:06 PM
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dont forget, there's an ED adder. i think its 0.00030.
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  #17  
Old 04-17-2010, 10:14 AM
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$1550 over Euro Delivery Wholesale is not very good. You should be able to do $500 to $700 plus the BMW Buy Rate if you lease.
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  #18  
Old 04-17-2010, 10:48 AM
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Brando384 Brando384 is offline
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Yah - I'm working with the only BMW dealership in town. I was told they never went below ED MSRP until this year. It's crazy. ED makes the price significantly lower, but the current base rates aren't fantastic (.0024) - throw in the .0003 additional base rate for the ED lease and you're looking at almost 6.5%.

I can't seem to get them below 1500. I'm being told that markup is to cover the exceptional customer service I'll receive (this part is true - this dealership is well known for their service). But isn't all of that included in the price of the car, anyway? Or is that not factored in on ED.

Would love it if somebody from another dealership could provide some insight.
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  #19  
Old 04-23-2010, 07:23 PM
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Brando384 Brando384 is offline
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Well I had to go outside of New York State and contacted a few of the board sponsors. I decided to go with one that agreed on 500 over ED and I'm pretty happy with the deal we've worked out.

Wanted to get everybody else's take:

2011 128i Jet Black/Black Boston Leather/Gray Poplar Wood
Premium Package
Cold Weather Package
Value Package
Dealer will throw in a set of winter mats in addition to the carpeted ones that will be in the car at ED.

MSRP: 33,575

Came in at $500 over European Delivery Invoice, totalling $29,545

Lease payments 362.36

Paying NYS Sales tax (1,226.62) and fees (Acquisition 725, Document 250 , Some fee having to do with my European plates? I hadn't seen this before - 33.50), + first lease payment at signing, totalling $2,597.48 due at signing +2,800 in MSDs. No cap reductions.

I will be given a temporary 30-day plate and register my car in NYS when I pick it up and take it home.

Doing Multiple security deposits to bring my rate down. .00257 (eastern region's current buy rate) +.0003 (Euro Delivery add on) - .00049 = MF of .00238

If the rates go down, I'll be able to take advantage of them, but if they go up, I'll be locked in at my current rate.

What do you guys think?

Last edited by Brando384; 04-26-2010 at 10:11 AM.
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  #20  
Old 04-26-2010, 10:06 AM
BMWofMorristown BMWofMorristown is offline
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This looks like a sweet deal to me, on one sweet BMW! The trip you take to pick it up in Germany you will remember forever. Have good luck, take pics, and report back! --Mike
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  #21  
Old 04-26-2010, 11:16 AM
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sounds like a great deal. likely the MF on the 2011s will go down as inventory of 2010s dry up. so the deal can get sweeter.

curious, which dealer did you go with? you can pm me if you dont want to post it
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  #22  
Old 04-26-2010, 12:07 PM
erdoran erdoran is offline
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Nice work! Yeah, I love the rationalizations the dealers give (board sponsors excluded) to keep the ED savings for their profit. My local place in Westchester (PA) says "since you are saving so much $$ for ED, we only work from ED MSRP...but we'll give you $1k off ED MSRP. Right! Had I gone ED I had a board sponsor lined up who worked up from ED invoice....
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  #23  
Old 04-26-2010, 08:06 PM
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Brando384 Brando384 is offline
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Yah I'm really hoping the MF goes down. That could potentially change what my MSD total will come to, as I'm currently only $12 over $350.

Just put the deposit down on the order. So excited!
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  #24  
Old 04-26-2010, 08:36 PM
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Quote:
Originally Posted by Brando384 View Post
Yah I'm really hoping the MF goes down. That could potentially change what my MSD total will come to, as I'm currently only $12 over $350.

Just put the deposit down on the order. So excited!
if its that close to the $50 dollar increment, you can put a small cap cost reduction down to pull it below. i've done very small cap cost reducs to shave a monthly down from say, 503 to 499, bringing the SD down from 550 to 500. its not a huge difference-- 150 cap cost reduc to bring the SD outlay down by 400, but round numbers appeal to me
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