Topic: Good Lease/Finance Rates?

[Faston]

Hi all:

First post here after lurking for a while.  It's a great site, but one thing that I was looking for and couldn't find was a thread on good lease and finance rates.  So I thought I'd start one!  

BMW has a great lease rate on 325i's.  2.5% and 62% residual. Good until Dec. 31st.

I am trying to economize a bit after getting stuck with a high lease rate and MSRP on a G35 Coupe.  Therefore, I have been looking for deals and the finance rate makes a huge difference.  I was looking at things like Mazda6, Altima 3.5, TSX etc and hadn't considered the BMW (after all, what the heck are you doing in a BMW dealership if you are economizing??), but this 2.5% rate caught my eye and it actually puts that car right in the same ballpark as some of the ones I mentioned.

Anyway, I am looking for a manual transmission and there is only one(!!) 'Ultimate Driving Machine' with a manual transmission in all of Canada (they say).  Of course it has extras so the MSRP of this 325i with premium package, ski sack and freight & PDI is 46905.  A long way from the base price of 39,900.  They have offered it to me for 44,500.  Does this seem like a good price? I told him it seemed high and left.  I became a member of CarCostCanada and got an invoice price of 42,925.  It would seem to me that something in the neighbourhood of 43,800 is more reasonable.  What do you guys (and gals) think?

[inco]

You have done your homework and others will be along too I suspect to help you out.

If you have to go that high I think you should be looking for throw ins - things that make it a better car for you and don't cost the dealer that much. Warranty, floor mats, 3m coatings etc - things that they do have control over. Undercoating and paint protections too.

I would be going for the best deal period. Put $43.500 on the table and see what it attracts. I hope we are talking an 05 model here, because 04's should be less.

[Mdxtasy]

The phrase "only one left in Canada" might mean he's looking at a 2004 model.  If that's the case, they should be clearing them off the lots to make room for 2005 and you should be able to get a decent discount on it above what they've already offered.

[Faston]

No, it's 2005.  It wasn't 'left in Canada', it was 'in Canada'.  The reason this is significant is that the lease rate (and especially the residual) I mentioned is only guaranteed to the 31st.  Hence the need to get one that's already in country.  There are others on the way for January and February arrival.

I got it for 44 even.

ps: actually, there were 2, but since I can't stand black, the other one that was available was not considered.

pps:  even though I ended up going for it, this whole scarcity of manual transmissions has left a bad taste in my mouth.  Makes me wonder if this is a brand for posers and badge buyers rather than enthusiasts.  Oh well, I'll enjoy driving my new BMW, those others can enjoy riding in thiers.

[Brig]

Agree with MDX.

Does BMW offer dealer incentives to unload stock at the end of the year?  If so, the savings could be quite substantial.  Then again, the finance rate you're quoting may be the only end-of-year special deal.

And how can there be "only one" manny tranny 325i left in ALL OF Canada???  God, I hate it when they say things like that.  The dealer may well be telling the truth, but it can also be a line of BS to make you hurry up and buy the car.

[Winson]

That is one of their classic lines.

[safristi]

That ,and "would ya like ta come up and see my manny tranny."....

[Mdxtasy]

Hey....I was told that tranny line when I bought the MDX.  

"Would you like to row the gears?"

Only later did I learn the MDX did not offer a manual tranny.  

[safristi]

Yeah row,row,row..yer own "boat" ashore sign of buyers fatigue....how soon before 20/20 does a show on poor schlubbs who have had their nubs "dealt" with.......and the hood release just pops up with a little flick of the wrist...zzzziiiipppppppp...idddyyyyy..dooo...daaaaaa...

[safristi]

[Davidm]

Finding manual 3-series is harder than you think.  When you couple in options/colour selections it gets thin fast.  When I was looking at a 320, the only one in Canada was at the dealership (manual, sports pkg) and didn't even have the colour or other options I wanted.

Most people can't get over my current bimmer as it is very rare - 97 328i (4door) in jet black with manual tranny, sports pkg, and painted bumpers (also has inclement weather pkg).  Don't have the precise info, but a manual, sports pkg, 4-door was very rare.

The low rates are due to the 06 3-series pics being released and e46 sales dropping fast while people wait (dealerships already have a list of deposits on the 06 models).

As for "in Canada", Audi and BMW seem to mostly make to order for people like us (manual, sports pkgs, non-silver or black, etc.), they only seem to premake silver automatics (one reason our Audi is an Atlas Gray Tip).

[Brig]

I didn't know any of that, David.  Thanks for the clarification.

I know it's been discussed ad nauseum around here, but I still think it's a shame that people avoid manual transmission.

Oh, well.

Brigitte

[safristi]

Prolly no more shamefull than avoiding auto-down windows,CD/DVD Players,air-conditioning,auto temp controls,intermittent wipers,heated seats,keyless entry,yada yada yada...What do you call an Italian with one arm shorter than the other...Speech ..er..Shift Impaired!!!

[Faston]

I did get a pretty good look at the allotment screen and it certainly looked like there was only one available.  And I do know that it has to come from Calgary otherwise I'd be driving it right now.  I'm not sure if the implication above was that I am especially gullible, but I sure can't think of a reason they would tell me there was only one if there were more....what advantage would that be to them?  If they had them on the lot or if another local dealer had them wouldn't it be a lot easier for them to sell me one of those?  And they are paying to get it freighted from Calgary.

[DriverJeff]

That's the same reason I ended up with a silver A4 with more options than I expected instead of the black one I ordered.  The special lease deal at the time required me to take possession of my car by the end of the month or else the new rates would take effect.  When it came down to the zero hour, the dealership couldn't get me 'my' car so they sucked it up and let me have a more expensive one they had in stock (though the 'wrong' colour) for the same price just to ensure I didn't go across the QEW to Budds' BMW and get a 325i instead.  

[Brig]

Faston - I wasn't implying that you are gullible.  

I was saying that sometimes, sales people try to incite a sense of urgency to get the sale by using this kind of tactic.  I've been there, and have seen it used on many of my co-workers and friends.  It's not rocket science.  As David and Jeff pointed out, however, this class of car is hard to get exactly the way you want it, right off the lot.  It is true that you're not exactly buying a Civic or a Corolla.  

Either way, congrats on your new vehicle.  Sounds like you're going to have a lot of fun with it.  Post some pics when you can.  We'd love to see it.

Brigitte

[Winson]

I'd like to see your new wheels too. Ah, the 3-series, classic sports sedan. Mmmmmmmm.

[Faston]

Thanks Brigitte and Winson.  It's on the slowest train in the world from Calgary to Vancouver.  It's a bit underpowered, but the engine is (as the mags always say) silky smooth and the manual tranny will help.  Looking forward to it.

[Davidm]

Where in Vancouver did you buy it?  My 328 is from AutoWest BMW in Richmond.  I was quite happy with them (surprised) - was planning on going to Brian Jessel (excellent reputation with many who have spent mucho-$$$ on BMW's), but they were in the middle of moving.

[safristi]

The train from Calgary is underpowered 2,500 BHP...man yer gonna be dissapointed in the Bimmer/Beemer....try the slow train ta China where the engines for all of us will be coming from soon.....
      Jealous...gotta get me a 3 someday...pics and stories man-da-tories...!!!!