[Auricom]

Originally Posted by thenew3

Strange, I'm on West coast and my dealer could only lock it for 60 days at a time.

Yes, strange as the additional 30 days is added for West coast due to transit and delivery. I could see 60 days if Spartanburg didn't have production delays and with a mature product in production for more than 3+ years.

[ComingInHot]

Originally Posted by Skyrider

It should all be spelled out on the worksheet you sign the day you order your car. I ordered my car yesterday and my work sheet had the sale price, discount, rebate, payment, and rate listed. Myself and the dealer signed it.

I had most of those but not the rate/time, I am getting them to update the documents for it. Thanks!

[ComingInHot]

Originally Posted by jmciver

I think "technically" the dealer does not have to honor a new rate after the lock period or if the incentives change in favor of the buyer during the lock period while waiting to take delivery - you will have to read the fine print on that. If there is no fine print on this, you will need to get this specific verbiage in writing. That said, it would be an over the top ridiculous business practice for BMW to not honor better incentives for the buyer if they become available as they do change from month to month. I have not heard of BMW not honoring better incentives if they become available, at least not on this forum, so you should be fine.

I more worried about worst incentives as time goes by. I am happy with the present rates/incentives and would at minimum like to keep that. The lock is 60 days but the question is can they actually finish the vehicle in that time....not sure . I'll have a conversation with the dealer later today to see what their policy is there.

Thanks all for your input!

[Auricom]

Originally Posted by ComingInHot

I more worried about worst incentives as time goes by. I am happy with the present rates/incentives and would at minimum like to keep that. The lock is 60 days but the question is can they actually finish the vehicle in that time....not sure . I'll have a conversation with the dealer later today to see what their policy is there.

Thanks all for your input!

This is what I communicated to my dealer before I walked in to place a custom order and signing of purchase order the same day. I had them break down the vehicle discount, BMWNA Financial MF rate and incentives:

"I've also enclosed a quick lease structure utilizing September BMWFS rates and incentives with the option to structure the final lease agreement with October or November BMWFS rates and incentives depending on vehicle production date and time or delivery"

At the time, the residual value had dropped -2% from August and hoped it raised by the time of delivery.

My custom order took 8 weeks until production start, 1 week to build and another 4 weeks for PCD delivery. Nov residual was better by +2, BMWNA incentives stayed the same, and qualified for another $500 USAA vehicle rebate.

TLDR;
Dealer locked in rates and incentives at time of order for 60 days. I had the option of signing using Sept rates or Nov (90 days later).

As Jmciver mentioned dealer doesn't but should honor your deal, just get it detailed in writing and signed.

[ComingInHot]

Originally Posted by Auricom

This is what I communicated to my dealer before I walked in to place a custom order and signing of purchase order the same day. I had them break down the vehicle discount, BMWNA Financial MF rate and incentives:

"I've also enclosed a quick lease structure utilizing September BMWFS rates and incentives with the option to structure the final lease agreement with October or November BMWFS rates and incentives depending on vehicle production date and time or delivery"

At the time, the residual value had dropped -2% from August and hoped it raised by the time of delivery.

My custom order took 8 weeks until production start, 1 week to build and another 4 weeks for PCD delivery. Nov residual was better by +2, BMWNA incentives stayed the same, and qualified for another $500 USAA vehicle rebate.

TLDR;
Dealer locked in rates and incentives at time of order for 60 days. I had the option of signing using Sept rates or Nov (90 days later).

As Jmciver mentioned dealer doesn't but should honor your deal, just get it detailed in writing and signed.

Dealer just sent me an email saying he will honor the present deal (rate/incentives) regardless if it goes beyond 60 days but he is highly doubting that it will take that long. I'll print and frame the email ...hahaha

I think they are suspecting that it will be built quickly due to the 2021s.

[Skyrider]

Originally Posted by ComingInHot

Dealer just sent me an email saying he will honor the present deal (rate/incentives) regardless if it goes beyond 60 days but he is highly doubting that it will take that long. I'll print and frame the email ...hahaha

I think they are suspecting that it will be built quickly due to the 2021s.

Yea. I heard that the factory is almost operating at full capacity and the production for the X7, specifically, is being ramped up due to high demand on this model. BMW genius confirmed to me today that my vehicle will be a 2020 model (ordered a few days ago) and is expected to be built the end of July.

[manzionen]

Hi All,

New Member here and in the process of leasing an X7.

I am looking at a M40i model, $84,695 sticker... with $7K down (security, disposition, first month) I am looking at $849/month. Feels pretty good... think I have a 64% residual on it.

[JR_Ewing_78]

I'm wanting to buy a 2020 M50i in the next couple of weeks. Would have preferred to put in an order but all of the dealers here in Houston say they don't have allocations and probably won't get any before the switchover to the 2021 model year.

I think I'd prefer to have a 2020 based on the information I've been able to glean on this board about the 2021's.

Should I expect to get a better deal on a 2020 given the time of year? Right now I have two different offers from two dealers and they are both right at about 6% below MSRP, which is consistent with the other BMW's I've purchased, but never at this point in the model year.

One salesman said that "Supply is low and people want to buy X7's" which makes sense but I'm always skeptical of salesmen talk.

Just wondering if 6% is a reasonable markdown or if I should push for more.

[jmciver]

Originally Posted by JR_Ewing_78

I'm wanting to buy a 2020 M50i in the next couple of weeks. Would have preferred to put in an order but all of the dealers here in Houston say they don't have allocations and probably won't get any before the switchover to the 2021 model year.

I think I'd prefer to have a 2020 based on the information I've been able to glean on this board about the 2021's.

Should I expect to get a better deal on a 2020 given the time of year? Right now I have two different offers from two dealers and they are both right at about 6% below MSRP, which is consistent with the other BMW's I've purchased, but never at this point in the model year.

One salesman said that "Supply is low and people want to buy X7's" which makes sense but I'm always skeptical of salesmen talk.

Just wondering if 6% is a reasonable markdown or if I should push for more.

Well, the uncertainties of COVID in new car sales are still being figured out and the effect will vary from market to market. But that being said, 6% below MSRP on a M50i in inventory still seems pretty weak based on previous experiences reported by forum members for all X7 variants - including my own X7 purchase experience. My guess is the dealer is hedging his bets that demand will truly go up now that the COVID situation seems to be improving a little bit. I would start at 11-12% below MSRP, before any eligible incentives, and go from there. You should be able to end up between 8-10% below MSRP (before incentives) on an inventory vehicle.

My recommendation would be to shop around on the internet at least within a 500 mile radius of your location. Don't be afraid to search coast-to-coast either as some internet deals can be very lucrative AND include shipping to your location - beating out any deal from a local dealer.

[Skyrider]

Originally Posted by jmciver

Well, the uncertainties of COVID in new car sales are still being figured out and the effect will vary from market to market. But that being said, 6% below MSRP on a M50i in inventory still seems pretty weak based on previous experiences reported by forum members for all X7 variants - including my own X7 purchase experience. My guess is the dealer is hedging his bets that demand will truly go up now that the COVID situation seems to be improving a little bit. I would start at 11-12% below MSRP, before any eligible incentives, and go from there. You should be able to end up between 8-10% below MSRP (before incentives) on an inventory vehicle.

My recommendation would be to shop around on the internet at least within a 500 mile radius of your location. Don't be afraid to search coast-to-coast either as some internet deals can be very lucrative AND include shipping to your location - beating out any deal from a local dealer.

I agree. I got a 10% discount on an ordered 2020 40i before incentives. After all said and done my discount was 14% with incentives. So I would definitely negotiate him down.

[huskerdoc2020]

My dealer said my discounted price would be the same with or without using the 0.9% financing. One would think if you did the financing you should get that extra money off. Am I missing something?

[thenew3]

Originally Posted by huskerdoc2020

My dealer said my discounted price would be the same with or without using the 0.9% financing. One would think if you did the financing you should get that extra money off. Am I missing something?

That's odd, there's a $2500 discount for financing, and another $1000 owner loyalty (if you currently own another BMW) that's also tied to financing.
So if you finance you should be able to get another $3500 off (assuming you own another bmw).

[thenew3]

Originally Posted by Skyrider

I agree. I got a 10% discount on an ordered 2020 40i before incentives. After all said and done my discount was 14% with incentives. So I would definitely negotiate him down.

When did you order it?

Prior to COVID, I was offered 15% off any X7 in stock or 7-9% off an order including all incentives at a big volume dealer.

At my local smaller dealer, I was offered 10% off vehicle on the lot or 9% off an ordered vehicle.

I took delivery this past Saturday and ended up getting 10% off my ordered car including all incentives (financing, owner loyalty etc) from my small town dealer.

A friend who saw my car and liked it went to see about ordering one, they could no longer do the kind of discounts they were offering 4 months ago. They said the inventory is extremely tight.
The big dealer that were offering 15% off now only offers 8% off vehicles on the lot and 5% for orders. My local small town dealer now only offers 6% off vehicles on the lot and 5% off orders.

[huskerdoc2020]

Originally Posted by thenew3

That's odd, there's a $2500 discount for financing, and another $1000 owner loyalty (if you currently own another BMW) that's also tied to financing.
So if you finance you should be able to get another $3500 off (assuming you own another bmw).

That's what I was thinking...won't they just take the extra amount off the loan. I wouldn't think that the $2500 has anything to do with the dealership.

[Skyrider]

Originally Posted by thenew3

When did you order it?

Prior to COVID, I was offered 15% off any X7 in stock or 7-9% off an order including all incentives at a big volume dealer.

At my local smaller dealer, I was offered 10% off vehicle on the lot or 9% off an ordered vehicle.

I took delivery this past Saturday and ended up getting 10% off my ordered car including all incentives (financing, owner loyalty etc) from my small town dealer.

A friend who saw my car and liked it went to see about ordering one, they could no longer do the kind of discounts they were offering 4 months ago. They said the inventory is extremely tight.
The big dealer that were offering 15% off now only offers 8% off vehicles on the lot and 5% for orders. My local small town dealer now only offers 6% off vehicles on the lot and 5% off orders.

I just ordered mine last week. Usually small town dealers don't offer big discounts like big volume dealers in big cities. I live in the Baltimore/DC area and we have a ton of BMW dealers in the region. So the competition is hi and you can usually get big discounts.

[ComingInHot]

Originally Posted by Skyrider

I just ordered mine last week. Usually small town dealers don't offer big discounts like big volume dealers in big cities. I live in the Baltimore/DC area and we have a ton of BMW dealers in the region. So the competition is hi and you can usually get big discounts.

Also note the discount on the 40i is a bit better because there were more allocations given for them. The M50i for example had a lower allocation quantity to begin with so when things got tight (i.e. plant shutdown and no additional 2020 allocations given post its reopening) the supply dried up quicker and hence dealers weren't willing to part with their M50i allocations for a song and a dance. They weren't even willing to trade with another dealer for them...ridiculous. Hence why I'm picking up my M50i a couple states over .

They are more willing to deal with what they have on the lot but still it's not as aggressive as it was with the discounts since they are also not getting new allocations yet so they have to keep their business going on what they got. Maybe when 2021 opens it will get better but we know the X7 offering is less already. Rock meet hard place

[JR_Ewing_78]

Originally Posted by ComingInHot

Also note the discount on the 40i is a bit better because there were more allocations given for them. The M50i for example had a lower allocation quantity to begin with so when things got tight (i.e. plant shutdown and no additional 2020 allocations given post its reopening) the supply dried up quicker and hence dealers weren't willing to part with their M50i allocations for a song and a dance. They weren't even willing to trade with another dealer for them...ridiculous. Hence why I'm picking up my M50i a couple states over .

They are more willing to deal with what they have on the lot but still it's not as aggressive as it was with the discounts since they are also not getting new allocations yet so they have to keep their business going on what they got. Maybe when 2021 opens it will get better but we know the X7 offering is less already. Rock meet hard place

Yeah, I extended my search beyond my local dealership on my side of Houston to all of the Houston area dealerships and NONE of them are willing go beyond the usual $3500-5000 in what they are calling "incentives". Basically, they are all coming in around 4-5% and refusing to go further and have all politely ended the discussion after I threw out 12% to get them to negotiate closer to 10%. The guy who offered me 6% has shockingly been the best so far!

I'll try some of the other dealers in other cities and states, but I'm guessing that ultimately I'm just going to have to wait a few months and let inventory of the '21 build a little bit and then I'll be able to find someone who is willing to deal on an order instead.

Too bad, I was wanting to get a new X7 to take on vacation this summer.

[MomoM3]

When would dealers start receiving their MY2021 allocations? We are only 6 weeks away from August (week 32?).

[Auricom]

Originally Posted by MomoM3

When would dealers start receiving their MY2021 allocations? We are only 6 weeks away from August (week 32?).

My dealer gets their allocations usually the first week of the month.

Depending on the dealer and their allocations, they may have customer sold custom ordered vehicles awaiting protection numbers left over from the previous month which would get priority.

I personally time my orders about a week before the end of the month.

[MomoM3]

Originally Posted by Auricom

My dealer gets their allocations usually the first week of the month.

Depending on the dealer and their allocations, they may have customer sold custom ordered vehicles awaiting protection numbers left over from the previous month which would get priority.

I personally time my orders about a week before the end of the month.

So do you mean for an August build the dealer gets their allocation the 1st week of the month prior as in July?

[Auricom]

Originally Posted by MomoM3

So do you mean for an August build the dealer gets their allocation the 1st week of the month prior as in July?

Apologies, they would get their July allocation and August in August, though things might have slightly changed due to the pandemic. If you have a close relationship with your dealer's SA or GM, they should be able to provide it.

[xdriv3]

Is 10% off MSRP BEFORE incentive reasonable for a vehicle on the lot at this point?

Given supply constraint.

Most dealers offering 5-7% off MSRP WITH incentives..