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      03-19-2020, 06:59 PM   #749
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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)...
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      03-20-2020, 09:26 AM   #750
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Quote:
Originally Posted by jmciver View Post
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)...
assuming your 2007 Ford Expedition EL XLT 4D SUV 4WD, is in mint condition; your value ($5k) is a closer to a max sale value to a private party; and their (3k) is full black book auction dealer wholesale value. I'd be surprised if any dealership offers more for your trade without fiddling the other numbers.

That said the rest of your numbers looks good. a personal side note, why lease for 5 years instead of buying?
I'd imagine a 2-3 year lease would be better; and/or a straight 5-6 year purchase loan.
I'd think short lease would be better? or long buy loans? but a long lease?

that's my 2 cents, but I don't know.
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      03-20-2020, 10:26 AM   #751
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Quote:
Originally Posted by Resjudicata View Post
assuming your 2007 Ford Expedition EL XLT 4D SUV 4WD, is in mint condition; your value ($5k) is a closer to a max sale value to a private party; and their (3k) is full black book auction dealer wholesale value. I'd be surprised if any dealership offers more for your trade without fiddling the other numbers.

That said the rest of your numbers looks good. a personal side note, why lease for 5 years instead of buying?
I'd imagine a 2-3 year lease would be better; and/or a straight 5-6 year purchase loan.
I'd think short lease would be better? or long buy loans? but a long lease?

that's my 2 cents, but I don't know.
Thanks for the insight! Regarding the financing, the BMW Select program is not a lease program, it is a finance program, specifically a ballon financing program. So the first 59 payments are relatively low and similar to lease payments (as opposed to a traditional car loan), and the 60th payment is the balloon amount. I like this option as it is the best of both worlds for me - lower monthly payments with the benefits of ownership vice leasing. As far as the balloon payment at the end of the loan, I already have finances in place to take care of that when the time comes - but I typically pay off my cars at the 5-6 year point of ownership anyway. And if for some reason the car does not work out, I can always sell or trade it in for something else and I will have decent equity in the car due to my larger downpayment up front.

As far as the trade, I agree that I am pushing (past) the limit of what my SUV is worth for a trade (and it is far from mint condition). I know I could get more via private sale vs trade in. However, I made it very clear to the dealer what my terms were regarding how much I wanted for my trade IF he wanted to make a deal now. Just part of the negotiating process as other areas of the deal may need to be adjusted to compensate for the lower trade value (actually I am counting on it). Or I could just put my SUV up for sale now and see what happens - if the X7 in question gets sold, I am fine with that outcome too as I am not in any rush. The trade is just one of the different points of leverage I am using to try to get the best deal for me.

I think the deal I am asking for is in line with some of the better, more aggressive deals that have been posted here. The dealer will still make a profit on my deal - it is just a matter of how bad he wants to sell this X7, especially with all of the other stuff that is going on right now. I am just trying to do my part to help get our economy back on track .....

Still awaiting the dealer's response....
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      03-20-2020, 11:01 AM   #752
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Quote:
Originally Posted by jmciver View Post
Quote:
Originally Posted by Resjudicata View Post
assuming your 2007 Ford Expedition EL XLT 4D SUV 4WD, is in mint condition; your value ($5k) is a closer to a max sale value to a private party; and their (3k) is full black book auction dealer wholesale value. I'd be surprised if any dealership offers more for your trade without fiddling the other numbers.

That said the rest of your numbers looks good. a personal side note, why lease for 5 years instead of buying?
I'd imagine a 2-3 year lease would be better; and/or a straight 5-6 year purchase loan.
I'd think short lease would be better? or long buy loans? but a long lease?

that's my 2 cents, but I don't know.
Thanks for the insight! Regarding the financing, the BMW Select program is not a lease program, it is a finance program, specifically a ballon financing program. So the first 59 payments are relatively low and similar to lease payments (as opposed to a traditional car loan), and the 60th payment is the balloon amount. I like this option as it is the best of both worlds for me - lower monthly payments with the benefits of ownership vice leasing. As far as the balloon payment at the end of the loan, I already have finances in place to take care of that when the time comes - but I typically pay off my cars at the 5-6 year point of ownership anyway. And if for some reason the car does not work out, I can always sell or trade it in for something else and I will have decent equity in the car due to my larger downpayment up front.

As far as the trade, I agree that I am pushing (past) the limit of what my SUV is worth for a trade (and it is far from mint condition). I know I could get more via private sale vs trade in. However, I made it very clear to the dealer what my terms were regarding how much I wanted for my trade IF he wanted to make a deal now. Just part of the negotiating process as other areas of the deal may need to be adjusted to compensate for the lower trade value (actually I am counting on it). Or I could just put my SUV up for sale now and see what happens - if the X7 in question gets sold, I am fine with that outcome too as I am not in any rush. The trade is just one of the different points of leverage I am using to try to get the best deal for me.

I think the deal I am asking for is in line with some of the better, more aggressive deals that have been posted here. The dealer will still make a profit on my deal - it is just a matter of how bad he wants to sell this X7, especially with all of the other stuff that is going on right now. I am just trying to do my part to help get our economy back on track .....

Still awaiting the dealer's response....
that's great, good luck! That info about select, is pretty cool - I didn't know anything about it, thanks for the info. it does sound like the best of both worlds!!

Sounds like you're on the right track!
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      03-20-2020, 11:39 AM   #753
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Round two....

As expected, the dealer did not really want to budge from his initial offer. Saying things like the X7 is already heavily discounted, it is a "very desirable vehicle" and they are already "offering it $2600 below invoice". Of course, any number "below invoice" means really nothing to me based on how vehicles are priced nowadays. He also stated that "12.5% including incentives" off MSRP is as aggressive he can get (not sure I buy that one though, as opposed to 11% off MSRP before adding incentives....). And of course, he would not budge on the trade value, which is what I was expecting. But, in an effort to continue the negotiations, he did offer/ask if I would take the deal he originally offered with the 2.99% rate (vice the original 3.99% rate he offered).

So in my response, I included my own counter comments like:
- There are others getting aggressive deals like this on the internet, regardless of market and/or small or large volume dealers
- I know that adding points above the BMW FS base rate of 2.99% is adding profit for the dealer
- The dealer's site advertises both 2.99% and 3.09% financing options without a caveat that a full MSRP purchase price is required to get those rates

So then I asked for the numbers for the following different scenarios to compare. Specifically: The total financed amount, the BMW Select residual value, and the monthly payment (for payments 1-59):

Scenario 1: BMW Select w/2.99%
a) Remove my trade entirely from the deal (assume I will sell it myself)
b) Use $30k for down payment
c) Following incentives applied: $2000 APR, $1250 Loyalty & $500 Military
d) Add the shadowline grill and rear trim piece w/o labor

Scenario 2: BMW Select w/2.99%
a) Keep my trade in the deal (with the best trade value you can give me, and I understand the trade value may change upon inspection of the vehicle)
b) Use $30k for down payment
c) Following incentives applied: $2000 APR, $1250 Loyalty & $500 Military
d) Add the shadowline grill and rear trim piece w/o labor

Scenario 3: BMW Select w/interest rate of your choice above the base 2.99% (to add more profit for you to the deal)
a) Guaranteed trade value of $3723 (sight unseen)
b) Use $30k for down payment
c) Following incentives applied: $2000 APR, $1250 Loyalty & $500 Military
d) Add the shadowline grill and rear trim piece w/o labor
e) What other BMW accessories are you willing to throw in to compensate me for a higher interest rate IF I were to accept this scenario (rubber floor mats, cargo area rubber mat, roof rail system, etc)

The fun continues.....
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Last edited by jmciver; 03-20-2020 at 11:45 AM..
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      03-20-2020, 12:33 PM   #754
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Quote:
Originally Posted by jmciver View Post
Round two....

As expected, the dealer did not really want to budge from his initial offer. Saying things like the X7 is already heavily discounted, it is a "very desirable vehicle" and they are already "offering it $2600 below invoice". Of course, any number "below invoice" means really nothing to me based on how vehicles are priced nowadays. He also stated that "12.5% including incentives" off MSRP is as aggressive he can get (not sure I buy that one though, as opposed to 11% off MSRP before adding incentives....). And of course, he would not budge on the trade value, which is what I was expecting. But, in an effort to continue the negotiations, he did offer/ask if I would take the deal he originally offered with the 2.99% rate (vice the original 3.99% rate he offered).

So in my response, I included my own counter comments like:
- There are others getting aggressive deals like this on the internet, regardless of market and/or small or large volume dealers
- I know that adding points above the BMW FS base rate of 2.99% is adding profit for the dealer
- The dealer's site advertises both 2.99% and 3.09% financing options without a caveat that a full MSRP purchase price is required to get those rates

So then I asked for the numbers for the following different scenarios to compare. Specifically: The total financed amount, the BMW Select residual value, and the monthly payment (for payments 1-59):

Scenario 1: BMW Select w/2.99%
a) Remove my trade entirely from the deal (assume I will sell it myself)
b) Use $30k for down payment
c) Following incentives applied: $2000 APR, $1250 Loyalty & $500 Military
d) Add the shadowline grill and rear trim piece w/o labor

Scenario 2: BMW Select w/2.99%
a) Keep my trade in the deal (with the best trade value you can give me, and I understand the trade value may change upon inspection of the vehicle)
b) Use $30k for down payment
c) Following incentives applied: $2000 APR, $1250 Loyalty & $500 Military
d) Add the shadowline grill and rear trim piece w/o labor

Scenario 3: BMW Select w/interest rate of your choice above the base 2.99% (to add more profit for you to the deal)
a) Guaranteed trade value of $3723 (sight unseen)
b) Use $30k for down payment
c) Following incentives applied: $2000 APR, $1250 Loyalty & $500 Military
d) Add the shadowline grill and rear trim piece w/o labor
e) What other BMW accessories are you willing to throw in to compensate me for a higher interest rate IF I were to accept this scenario (rubber floor mats, cargo area rubber mat, roof rail system, etc)

The fun continues.....
you're a tough one!!
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      03-21-2020, 11:10 AM   #755
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Round 3.....

After looking at my scenarios, here is what the sealer came back with..

MSRP: $86,820

Incentives Applied:
- $2000 APR credit
- $1250 Loyalty Credit
- $500 Military Discount

Negotiated Price w/Dealer Discount & Credits Applied: $80467.66
Dealer processing fee: $299
Shadowline Grill & Rear Trim parts: $493.34 (w/o labor)

Total Purchase Price: $81,260
Down payment: $30k

Total Financed at 2.99% APR: $51,260 and $440/m payment
BMW Select residual: $26,914.20

So.....

The negotiated purchase price (not including processing fee and extra parts) with the BMW credits and dealer discount applied comes out to 7.3% off MSRP. If I remove the BMW incentives, the percentage off MSRP drops to 3% off MSRP. By giving me the BMW FS base APR of 2.99%, the dealer is clearly making up for lost profit on the APR by minimizing the discount before applying the BMW incentives. And of course, the $3750 in BMW factory incentives is pure profit for the dealer as well - so as expected, the dealer is still making a good profit.

From a financial perspective, the numbers work well for me and are in line with what I was looking for overall. Specifically, the monthly payment ($440/m) and the residual using the BMW Select program after applying my down payment ($26,914) is in line with what I have been researching using the BMW Select financial calculator. My $30k down payment plan, which consists of some money I have saved up and any proceeds from my Expedition (either via trade or personal sale) was going to happen with any deal I would make.

Regarding the actual X7, the one on the lot is very close to how I would have configured one - it has all of my "must have options" and none of the options I don't want (except one small one). And I have not found one this closely configured to my liking on any lot within a 500 mile radius of my location since I first started looking over 6 months ago or so (I was anticipating placing an order to get what I wanted). The only negatives:

a) Not my top color choice, but not my last one either
b) No Space Saver Spare option; but I know how to retro-fit that and plan to do so
c) No Ambient Air Package option; seemed like a nice to have, was a cheap option from the factory, not sure how easy or cost effective to retrofit though (may not be worth the effort)
d) No Extended Shadowline option, but purchasing those parts and adding them to the deal (and installing them myself) is very reasonable
e) Has the Glass Controls option; not a fan of this look, but I am confident I can "get used" to that look very easily over time, so not a deal killer.

So what do you think? The deal sounds pretty reasonable as far as getting an X7 very close to configured the way I want, and at a cost (i.e. monthly payment and residual value) in line with what I was planning for. Now, I would still need to convince the wife to let me pull the trigger now, since it was not supposed to happen until Jun/Jul (that is a different discussion ). But despite the deal being offered me, seeing these other great deals with 10% or better off MSRP, I hate feeling like I am leaving more on the table in terms of discounts. I mean, if I were not eligible for $3750 in BMW factory incentives (which is pure profit for the dealer), would I have still been offered these numbers ...??

Anyway, thoughts about pulling the trigger on this deal? Is there anything I might be missing or not considering?
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      03-21-2020, 11:57 AM   #756
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Quote:
Originally Posted by jmciver View Post
Round 3.....

After looking at my scenarios, here is what the sealer came back with..

MSRP: $86,820

Incentives Applied:
- $2000 APR credit
- $1250 Loyalty Credit
- $500 Military Discount

Negotiated Price w/Dealer Discount & Credits Applied: $80467.66
Dealer processing fee: $299
Shadowline Grill & Rear Trim parts: $493.34 (w/o labor)

Total Purchase Price: $81,260
Down payment: $30k

Total Financed at 2.99% APR: $51,260 and $440/m payment
BMW Select residual: $26,914.20

So.....

The negotiated purchase price (not including processing fee and extra parts) with the BMW credits and dealer discount applied comes out to 7.3% off MSRP. If I remove the BMW incentives, the percentage off MSRP drops to 3% off MSRP. By giving me the BMW FS base APR of 2.99%, the dealer is clearly making up for lost profit on the APR by minimizing the discount before applying the BMW incentives. And of course, the $3750 in BMW factory incentives is pure profit for the dealer as well - so as expected, the dealer is still making a good profit.

From a financial perspective, the numbers work well for me and are in line with what I was looking for overall. Specifically, the monthly payment ($440/m) and the residual using the BMW Select program after applying my down payment ($26,914) is in line with what I have been researching using the BMW Select financial calculator. My $30k down payment plan, which consists of some money I have saved up and any proceeds from my Expedition (either via trade or personal sale) was going to happen with any deal I would make.

Regarding the actual X7, the one on the lot is very close to how I would have configured one - it has all of my "must have options" and none of the options I don't want (except one small one). And I have not found one this closely configured to my liking on any lot within a 500 mile radius of my location since I first started looking over 6 months ago or so (I was anticipating placing an order to get what I wanted). The only negatives:

a) Not my top color choice, but not my last one either
b) No Space Saver Spare option; but I know how to retro-fit that and plan to do so
c) No Ambient Air Package option; seemed like a nice to have, was a cheap option from the factory, not sure how easy or cost effective to retrofit though (may not be worth the effort)
d) No Extended Shadowline option, but purchasing those parts and adding them to the deal (and installing them myself) is very reasonable
e) Has the Glass Controls option; not a fan of this look, but I am confident I can "get used" to that look very easily over time, so not a deal killer.

So what do you think? The deal sounds pretty reasonable as far as getting an X7 very close to configured the way I want, and at a cost (i.e. monthly payment and residual value) in line with what I was planning for. Now, I would still need to convince the wife to let me pull the trigger now, since it was not supposed to happen until Jun/Jul (that is a different discussion ). But despite the deal being offered me, seeing these other great deals with 10% or better off MSRP, I hate feeling like I am leaving more on the table in terms of discounts. I mean, if I were not eligible for $3750 in BMW factory incentives (which is pure profit for the dealer), would I have still been offered these numbers ...??

Anyway, thoughts about pulling the trigger on this deal? Is there anything I might be missing or not considering?
3-7% off MSRP sounds reasonable; would they do same price on a custom build?

how much difference for the exact way ordered; vs their lot one??
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      03-21-2020, 05:30 PM   #757
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Originally Posted by Resjudicata View Post
3-7% off MSRP sounds reasonable; would they do same price on a custom build?

how much difference for the exact way ordered; vs their lot one??
The dealer mentioned that discounts would be lower on an ordered vehicle. But to be honest, I take that with a grain of salt since from the moment I walked on the lot this time I was looking at a specific vehicle in their inventory. If this deal falls through, I would not be interested in any other vehicle on their lot (or from other dealers in my area for that matter right now).

As far as the difference between my "perfect build" and the one on the lot, as I mentioned in my post above, the differences are: not my first choice color, no space saver spare, no ambient air package, it has glass controls (did not want that option). But none of those are deal breakers for me and I would probably make an offer on a similarly configured X7 if it showed up in my area.

Right now, the real sticking point for me is the trade value for my Expedition - but I knew that would happen. I was hoping the dealer would be willing to take more of a "hit" on the trade, and get their profit elsewhere in the deal, as we come to a consensus. That said, the deal is close enough that I have entered into negotiations with my better half - now things are getting interesting ....
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      03-21-2020, 07:39 PM   #758
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Quote:
Originally Posted by jmciver View Post
Quote:
Originally Posted by Resjudicata View Post
3-7% off MSRP sounds reasonable; would they do same price on a custom build?

how much difference for the exact way ordered; vs their lot one??
The dealer mentioned that discounts would be lower on an ordered vehicle. But to be honest, I take that with a grain of salt since from the moment I walked on the lot this time I was looking at a specific vehicle in their inventory. If this deal falls through, I would not be interested in any other vehicle on their lot (or from other dealers in my area for that matter right now).

As far as the difference between my "perfect build" and the one on the lot, as I mentioned in my post above, the differences are: not my first choice color, no space saver spare, no ambient air package, it has glass controls (did not want that option). But none of those are deal breakers for me and I would probably make an offer on a similarly configured X7 if it showed up in my area.

Right now, the real sticking point for me is the trade value for my Expedition - but I knew that would happen. I was hoping the dealer would be willing to take more of a "hit" on the trade, and get their profit elsewhere in the deal, as we come to a consensus. That said, the deal is close enough that I have entered into negotiations with my better half - now things are getting interesting ....
I think that's as good as your going to get.

get the bm car club rebate too. sign up in advance.
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      03-23-2020, 02:00 PM   #759
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New to the Board and in need of some advice / opinions. I have been researching buying an upscale SUV for sometime. After driving the GLS, Q7 and X7, I have settled on the X7 and have been shopping a new build with an MSRP of $89K. The best discount I have been able to secure (from several dealers) is $7500, or 8.4% which includes the $2000 financing incentive (the only incentive I qualify for). What do you think of this deal? Great? OK? Can do better?

Recently, I noticed a 2020 X7 from a dealer in another state. Their car has almost all the features I want but ramps, which I can live without or add aftermarket. The car is a loaner with 4000+ miles and has an MSRP of $96.6K. The dealer has offered a $12.3K discount or 12.7%. Is this a good deal or a great deal? What should I expect to get for a discount for a loaner with 4000 miles?

I plan to purchase and the "loaner" dealer has offered 1.49% interest versus 2.99% for the new build.

All thoughts, comments and advice are appreciated. thanks in advance.

Last edited by jmcd2524; 03-23-2020 at 02:16 PM.. Reason: clarification
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      03-23-2020, 04:41 PM   #760
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Quote:
Originally Posted by jmcd2524 View Post
New to the Board and in need of some advice / opinions. I have been researching buying an upscale SUV for sometime. After driving the GLS, Q7 and X7, I have settled on the X7 and have been shopping a new build with an MSRP of $89K. The best discount I have been able to secure (from several dealers) is $7500, or 8.4% which includes the $2000 financing incentive (the only incentive I qualify for). What do you think of this deal? Great? OK? Can do better?

Recently, I noticed a 2020 X7 from a dealer in another state. Their car has almost all the features I want but ramps, which I can live without or add aftermarket. The car is a loaner with 4000+ miles and has an MSRP of $96.6K. The dealer has offered a $12.3K discount or 12.7%. Is this a good deal or a great deal? What should I expect to get for a discount for a loaner with 4000 miles?

I plan to purchase and the "loaner" dealer has offered 1.49% interest versus 2.99% for the new build.

All thoughts, comments and advice are appreciated. thanks in advance.
depends on your model. a base line x40 (v6 vs v8), is smaller margins than a fully loaded M50i. x5 and x7 are high demand.
any BMW around -10% is a great price.

so assuming a 6 cylinder x7, 8% is a good deal. on the lot, you might get more after 3-6 months, if no one buys it.

on a loaner, sky is the limits. they vary so wildly. 12% is a great price, but you have to watch them closely. I was in negotiations for a v8 x5 loaner, and it turned out to have been used and major engine problems and electrical issues. it was the current model year (2017 in 2018) but it had been sitting for over 6 months. so even though it had 2000 miles, it was a junkyard one.

bmw has an internal maintenance records of each one (in addition to any carfax, they have stuff they can see). I had to call another dealership to give me the report list with all the problems of the other x5.
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      03-23-2020, 04:42 PM   #761
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my 2019 bmw, I bought new with 6 miles and paid all cash. the best deal I got was OTD at invoice price.
which was about 10% under MSRP before 5% taxes and fees on a new order that just arrived on the lot.
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      03-23-2020, 05:36 PM   #762
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I went with a broker on a lease. Ended up getting a custom order 40i for 12% below MSRP and will be delivered to my front door.
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      03-23-2020, 06:29 PM   #763
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Thanks for sharing your insights everyone. Long time reader that just joined.

Based on your insights, the discounts are much better in the US than Canada!
For those members based in Canada, what are your experiences?

I'm looking to purchase an X7 40i, with premium excellence, m sport, laser lights and trailer hitch. MSRP is $116,800. The best I've been able to negotiate on an order is 5% off MSRP.

Thanks, in advance, for your insights!
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      03-23-2020, 06:40 PM   #764
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Quote:
Originally Posted by Resjudicata View Post
I think that's as good as your going to get.

get the bm car club rebate too. sign up in advance.
Already a BMWCCA member, and have been for a long time . I only wish you could apply the cash directly towards the sale and not have to wait so long for it. Unfortunately, my negotiations, which were nearing the end, are now on hold. All area dealers where I am are now required to close UFN due to COVID-19 .....
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      03-26-2020, 02:20 PM   #765
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Quote:
Originally Posted by puckstopperaz View Post
Thanks for sharing your insights everyone. Long time reader that just joined.

Based on your insights, the discounts are much better in the US than Canada!
For those members based in Canada, what are your experiences?

I'm looking to purchase an X7 40i, with premium excellence, m sport, laser lights and trailer hitch. MSRP is $116,800. The best I've been able to negotiate on an order is 5% off MSRP.

Thanks, in advance, for your insights!
Looking to order an X7 40i as well, and saw a new unit at the local DS with a 4.3% disocunt on MSRP. I'm sure you can negotiate more. But I second that request, any experience in Canadian markets?
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      03-27-2020, 09:24 AM   #766
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In case you're cross shopping and considering getting a vehicle from US Just be aware, there are slight differences between US and Canadian specs that are usually missed.

One major difference is the rear fog lights being missing in the US specs.


I might be wrong, but I'm guessing with the factory being closed now, dealers might offer less and less discounts, yet on the other side of the coin, demand is much lower at this time.
But do expect a price spike or a less discount once things settle down, due to the backlog of production and custom orders.
That's my opinion and I could be totally wrong.
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      03-27-2020, 10:53 AM   #767
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Just negotiated this deal on a fairly loaded dealer inventory unit:

2020 X7 40i Luxury - $89,695 MSRP
11% off MSRP
$2000 Finance incentive
$1250 Loyalty
Total: $76,578

$799 "Doc" fee (I know this is BS... but they have to make SOME profit)

2.99% (Buy-rate) 60-month "Select" financing with 31% balloon

Feeling pretty good about the deal. Thoughts?
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      03-27-2020, 10:58 AM   #768
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Quote:
Originally Posted by Eric View Post
Just negotiated this deal on a fairly loaded dealer inventory unit:

2020 X7 40i Luxury - $89,695 MSRP
11% off MSRP
$2000 Finance incentive
$1250 Loyalty
Total: $76,578

$799 "Doc" fee (I know this is BS... but they have to make SOME profit)

2.99% (Buy-rate) 60-month "Select" financing with 31% balloon

Feeling pretty good about the deal. Thoughts?
Don't worry. They're making plenty. You just don't know it.
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      03-27-2020, 11:11 AM   #769
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Originally Posted by huskerdoc2020 View Post
Don't worry. They're making plenty. You just don't know it.

No doubt. But with incentives, Im at 14.6% off MSRP. Reviewing this thread, I dont see any other new vehicles (not demos, loaners, or last years models) which were discounted that heavily.
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      03-27-2020, 01:04 PM   #770
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In case you're cross shopping and considering getting a vehicle from US Just be aware, there are slight differences between US and Canadian specs that are usually missed.

One major difference is the rear fog lights being missing in the US specs.


I might be wrong, but I'm guessing with the factory being closed now, dealers might offer less and less discounts, yet on the other side of the coin, demand is much lower at this time.
But do expect a price spike or a less discount once things settle down, due to the backlog of production and custom orders.
That's my opinion and I could be totally wrong.

————————-
I'm not looking at cross-shopping in US, rather interested in any discounts that Canadian X7 buyers have negotiated, or are in the process of negotiating.
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