I have a 2006 330xi with 22000 miles, lease ending end of april 2009. (36 months, 12000milea/year) and I am interested in buying the car at lease end. It has premium, sport, navigation, winter packages, sirius satelite radio. The residual value is around 30,200.00. To buy the car at the end the dealer offered me 29,355.00 plus title, tax and tags. This includes Certifiing the car, new tires, if needed ($800.00) and 0.9% financing for the month of march. The initial negotited price in 2006 was around 46000.00 and I paid about 24000 for the 36 month I have owned it so far. So I figured 46000-24000=22000 the remaining value of the car (possible price at auction I believe, or about 50% from the invoice price as new). Adding a 7% dealer mark-up (1540) and 1800 for CPO (I asked the dealer how much the certification costs) summs it up to 25340. My question is should I give the dealer my numbers and try to negotiate lower or do you think the 29300 number he offered is acceptable? I would like to decide this month before the 0.9% financing offer expires.Thank you all for your input.
End of lease buyout offer question
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Thank you for the quick reply. I believe you are right, but I just made a calculation based on how much the car cost was new and how much I paid already. I thought the number is close to 50% from the initial invoice (around 44000; MSRP was about 4799.00). Based on my numbers do you have any suggestions how much the car is actually woth at this point? Thank you
Do you like fruit? Let's compare apples with oranges:
I have an offer to buy out my 2007 530xiT/6 wagon with 23,000 miles on it for $31000. This would not include CPO, or tires (why would you need to replace tires on your car with 22,000 miles?) or anything else. My residual is 43K (not that this means anything)
Your dealer is offering to sell you your 2006 330xi for 29355-1800-800=$26755. Personally, I think you can do a lot better. Can you call other dealers in your area to see if they are willing to do better?
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This is not a good offer AT ALL - search the forum see what people are getting their 330's off-lease for - most are getting them for considerably less....And BTW, your dealer is lying the CPO certification cost for a 3er is $1100.
Wow...that's a great price! Where did you get that information? Do you know what the cost is for the other series as well?
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I know because that's what I paid - less than a month ago. Here are the details on my deal...
http://www.bimmerfest.com/forums/showpost.php?p=3858872&postcount=15
so, offering 1000 over the buyout statement should be a fair starting point for negotiations? are the dealers actually disclosing the buyout price? if they do, i think 1000 over this number should be fair. what do you think? thank you btw for all the input so far, i really need to decide by the end of the month.
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If you know the dealer is being straight with you offer $1000. But if he's playing games offer less and work up to $1000. I think $1000 over their buyout is VERY fair for a turn-key deal with no risk, no inventory and minimal time commitment on their part. And call his BS on the $1800 for CPO certification... tell him one more lie and you're going elsewhere.
Did you make your last payment already? If not, make sure that any remaining payments are taken care of as part of the deal.
I was wondering if calling other dealers with quotes makes sense in my case and then go with the best offer. I am tempted to do that but on the other hand I would like to keep a good relationship with my current dealer since the other ones are far away from where I live. Thank you.
Here is the latest offer the dealer made for my 2006 330 xi sport, low mileage (21,200 miles) premium, navigation, leather, cold weather, comfort access, sirius radio:
27,890.00 that includes certification and the last two payments (1,350) plus tax and title. That brings it to aprox 25,000 before the CPO fee and last 2 payments. The dealer said that this is the final offer. I was trying to find similar cars on ebay or autotrader but I could not find any with my low mileage and options to compare prices.
Ther is no way to find out how much the wholesale price from BMWFS would be since I still drive tha car and BMWFS would not deal with me anymore since the dealer is already on board.
Please any advice is appreciated since I need to close the deal before the 0.9% financuing expires (03/02/2009).
Thank you
27,890.00 that includes certification and the last two payments (1,350) plus tax and title. That brings it to aprox 25,000 before the CPO fee and last 2 payments. The dealer said that this is the final offer. I was trying to find similar cars on ebay or autotrader but I could not find any with my low mileage and options to compare prices.
Ther is no way to find out how much the wholesale price from BMWFS would be since I still drive tha car and BMWFS would not deal with me anymore since the dealer is already on board.
Please any advice is appreciated since I need to close the deal before the 0.9% financuing expires (03/02/2009).
Thank you
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Go back to BMWFS and ask them if they want you to buy the car and remain a BMW customer. Ask for manager if no help on first inquiry. Beat the crap out of them.
You are under zero obligation to continue to deal with this dealer. Try another one after the call to BMWFS.
Good luck.
Looks like a good deal to me :dunno:
The dealer is buying your car for somewhere between $23 and $24k. With CPO and your last two payments, they're making somewhere between $1 and $2k on this deal. You, on the other hand, are getting a very clean, well-cared-for 3 series with 0.9% APR.
Considering you're in Ohio, I have to believe that 3er xis are good merchandise (you do get a fair bit of the frozen wet stuff, don't you?). Who knows, maybe they'll take your low-mile xi in at lease maturity, CPO it and sell it to someone else for a good bit more money.
The dealer is buying your car for somewhere between $23 and $24k. With CPO and your last two payments, they're making somewhere between $1 and $2k on this deal. You, on the other hand, are getting a very clean, well-cared-for 3 series with 0.9% APR.
Considering you're in Ohio, I have to believe that 3er xis are good merchandise (you do get a fair bit of the frozen wet stuff, don't you?). Who knows, maybe they'll take your low-mile xi in at lease maturity, CPO it and sell it to someone else for a good bit more money.
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+1
By the way, certification is not a warranty, it is a process. Performing the certification checklist is about $300 and is in addition to the warranty cost so cost is actually $1,500 for an AWD (which adds another $100) 3-Series (excluding any reconditioning which is additional).
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I've got news for you. Hope you don't wait much longer. That $31k will soon turn into $32k, then $33k right before your very eyes.
Auction values for pre-owned cars is going up not down. Because new car business is down, that means fewer trade-ins, and the more people buy their own leases instead of turning them in, the fewer cars are out there for pre-owned sales, so dealers will be forced to buy them at auction which drives prices higher.
So don't be surprised that you see a trend upwards instead of downwards on your lease buy outs. Pre-owned business is hotting up big time. If you think I'm blowing smoke, read this from WSJ: "Rising Sales of Used Luxury Cars Are Boon and Curse"
Plus, to make availability more scarce for trade-ins, you have people keeping their cars longer and buying extended maintenance and warranties like crazy.
It's not the dealer, it's the market. Just sayin'...
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They're subject to the same market conditions, so speaking to a manager, super, or anyone else... they're looking at the same MMR values. What's there to beat out of them when they're at the mercy of the market. :dunno:
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It's not that easy and effortless when you're offering a modest profit, and they know they can get more if you turn in the car and they retail it instead of wholesaling it to you.
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