Ok guys, I have been lurking around this forum for a while, learning as much as I can prior to an X7 purchase. While I promised myself I was going to wait until this summer (Jun/Jul) before making a purchase, one of my local dealers actually has an X7 configured so close to the way I want, I decided to go to the dealer, take a closer look at this particular X7, and ask a few questions. So, given the experience and results of different deals discussed in this thread, I figure, why wait and post my final deal (assuming I can get to one), but instead have a little bit of fun and make this an "interactive" online forum negotiating experience.
So, after looking at the X7 in person, here is what what I initially told him that it would take for me to make a deal now, 3-4 months before I originally wanted to make an X7 purchase...
2020 X7 40i, MSRP $86820
a) 11-12% off MSRP
b) Eligible Incentives: $2000 APR, $1250 Loyalty, $500 Military Discount
c) $5000 minimum for my trade (2007 Ford Expedition EL w/140k miles)
d) Financing: BMW Select w/2.99% for 60 months
e) Add shadow line grill & rear trim to the deal (the X7 did not have the extended shadowline trim package, but I still want those parts)
I leave the dealership since I don't feel like playing the good cop/bad cop game in person and the dealer tells me he will send a detailed breakdown in an email. A few hours later, he sends me this:
- We have a total if $10,700 off MSRP this includes ; $1250 loyalty , $2000 APR credit , $500 USAA. The Rest is dealership discount.
- Typical online discounting is 10.5% including all rebates . We are Honoring 12.5%
- Payments will be $998.29/m assuming WA registration ( No taxes added to structure).
- 60/m @ 3.99% ( 2.99 is buy rate from BMW, this rate can only be honored if you are being from MSRP) .
- Residual amount will be 31% which = to $26,914.20 at the end of 60/m Select Program.
- Trade which was added to this structure came in at $3723 ( ** sight unseen ** ; values could change a few hundred when proper appracial is completed) .
This structure will include your Grille acc. and rear non-gloss modling in the rear which totals up to $493.34 w/o labor.
This was my response via email (the numbers anyway)...
My Deal
- 11% off MSRP before any factory incentives applied: $77,269.80
- APR Incentive: $2000
- Loyalty Incentive: $1250
- USAA Incentive: $500
- Total w/Incentives Applied: $73519.80
- Dealer Processing Fee: $299
- Shadowline Grill & Rear Trim: $493.34 (w/o labor)
Total Financed: $74,312.14
Other info I put in my response (condensed version):
- I can apply online at BMW FS for 2.99% APR, why can't you give me that APR? BMW FS does not say I have to pay full MSRP to get 2.99%.
- I can sell my Expedition for more than $5k, if I do and I lose this X7 because you sell it while my SUV is for sale, I will just look elsewhere
- I will put down a big down payment: $30k, but $5k must come from the sale or trade of my Expedition
- How long has this X7 been on your lot? (Rhetorical question since I know it has been 30+ days, I think it may be approaching 60)
So I don't need to make this deal now, but if I get what I want, I am willing to pull the trigger - so I don't really feel any pressure and can just walk away.
So, thoughts? Next move? Let the online interactive negotiatiating begin
. I suspect I will have some type of response by noon tomorrow....
Oh yeah, I think it is obvious I have decided to purchase, not lease, and I am at peace with that decision so I want to just focus on the deal (not the pros/cons of lease vs buy)...
