HELP! :help PLANNING TO BUY A NEW '04 530(e60).

[alohalc]

Hi all ,

I'm new in here and would like to ask all the current owners and experts out there about the pricing of a new 2004 530 (e60). I'm going to get Automatic Transmission, Premium Package, Xenon Headlamps, Parking Distance Control, and Satellite Radio Prep. MSRP is $50,845 and invoice is $46,545 based on Kelly Blue Book. I know I should negotiate and get the best deal. However, we only have one BMW dealership (I'm in Honolulu) here. Seems like if the price doesn't work out my way, I have nothing to do with it and only can get a new '04 MB CLK320 instead. Anyone can help me out and tell me how much you paid for your new toy with similar options/package? Any advise for how can I get a good deal? Thanks a bunch and have a great one, y'all!

[Silver4evr]

Firstly, to the board.

Secondly, since there is only one dealer, it probably doesn't matter what anyone on the mainland paid for their car.

That being said, you can always hang out at the dealer, observe their inventory over a period of time to see how fast its moving/turning over. See if you can find any E60 purchasers in Hawaii and ask them what kind of deal they got.

Also, find out if they have any cars in stock that have your exact requirements. You're more likely to be able to deal on car that's in inventory.

I dealt with the Internet sales manager of my dealer and paid about $2500 below msrp.

Good luck.

[Silver4evr]

You can always join consumersunion.org to get straight up info on car buying.

BTW, if you can squeeze in the sport package, buy it. You won't regret it.

[alohalc]

Thanks for your info. The salesperson told me E60s in Hawaii aren't selling as good as Mainland. And it's middle of the year when the car gets here. I hope I can get a better deal. Still thinking about lease or purchase.

[alohalc]

I wanted to get the Sport Package w/SMG but I have to wait three months! They have to order it from Germany. He said nothing available in the west coast, well, I mean the options and packages that I want. It's too long and I don't want to lose three months money (depreciation) for nothing.

[Silver4evr]

Here's a link to software that will analyze lease/purchases.

What you mean "losing 3 months depreciation". If you don't own the car, you won't lose anything.

Based on my experience over the past 5 months, I'd wait for the sport package.

[alohalc]

Silver4evr, you are the bomb B) ! I wish I could steal some of your knowledges . Thanks again for the link but I didn't try it out coz they charge for it. Well, what I meant for "losing 3 months depreciation" is if the car is $50k today, it'll be $48k or lower after 3 months. It's ok and totally acceptable if I'm using the car for this 3 months or they'll sell me the car for the depreciated price when I pick up the car. But it won't happen this way. In the other word, for the 3 months waiting, I don't get a chance to touch my new toy but only seeing the value of the car is getting lower and lower everyday. Am I saying it right? Please advise. Thanks again.

[sp0rky]

Actually as long as your car hasnt been in anyones hands, its not depreciating, it doesnt depreciate until someone owns it and drives it off of the lot.

I too would recommend waiting for the sports pkg. btw. its well worth it.

[ksz]

Yup, that's correct. No depreciation until you drive it off the lot. My car was built-to-order with a $2000 deposit. It went into production somewhere around early-to-mid February and was delivered on April 8, only 2 months later.

I also recommend the sports package. Although Oahu is not particularly hilly, you might be inclined to ferry it over to Maui and take the road to Hana or drive up into the central mountains of the Big Island. However, you'll benefit from Active Steering on any road.

[alohalc]

Thanks for the advises. You guys are right and that's was what I thought at the very beginning. However, the salesperson in BMW told me the residual value (if lease) will drop every month. For my understanding, that means depreciation. Am I correct? Please advise. Thanks. Btw, ksz, are you from Hawaii or lived in Hawaii before? Seems like you are quite familiar with the other islands. Guys, the other reason I take the PP instead of the SP is my girlfriend. She doesn't like the waiting part. She said it takes too long. You know, a battle between woman and man, man will never win .

[Silver4evr]

I'm not sure I understand what the salesperson is telling you.

If you don't pay for something and it hasn't been driven or registered, it can't depreciate. Are they asking you to sign a lease, pay for the closing costs and start making payments before the car is delivered to you?

If that's what they want you to do, scratch that. Talk to the manager. Put a refundable deposit on the car (all you would lose is the minimal interest they're paying at the bank) and then sign the deal. It has to be refundable by a certain date because the car might not come in or some other factor out of your control might cause a need to change the deal. Make sure an out date is in the deposit contract.

If you're seriously thinking about leasing, you should buy the software. It will pay for itself because you'll negotiate a better deal. Everything is negotiable about a lease regardless of what they tell you. You just have to know what your talking about.

[ksz]

aloha-lc:

I spent a week in Hawaii several years ago and toured Oahu, Maui and Hawaii. I made it a point to circumnavigate each of them. Lots of charming places to visit. Macadamia nuts from the Mauna Lua (sp) plantation, Kona coffee from Kona, pineapples from the Dole plantation, and of course a lot of sand and sun. I was fortunate enough to rent a Mustang convertible on Oahu...and I've been casually dreaming of a convertible for weekend getaways here in northern California...but that's another story.

Silver4evr is correct. Do not sign any lease or finance agreement until the car arrives and you've looked it over. Put down a refundable deposit while the car is being built and shipped...and contact the manager, Better Business Bureau or District Attorney's office if the dealership does anything less. In fact, contact BMW of North America and report this conduct.

When a dealership places a custom order, they are really just altering an allocation that was already assigned to them at their request. In other words, if you place a custom order with a refundable deposit and later choose not to buy or lease the vehicle, the dealer is not stuck with excess inventory. The dealer had ordered that car anyway, only with different colors and options.

Again, under no circumstances should you sign a buy or lease agreement until the car is on the lot and you've looked it over. Depreciation begins only from that day.

The residual value at the end of a lease term is fixed and determined by the duration of the lease. The shorter the lease, the higher the residual and vice-versa. Residual value is also calculated from the day you sign the lease. If this dealership appears to be playing games, call BMW Financial Services and ask them to calculate the residual value of your car for each of the lease durations you have in mind (2 yr, 3 yr, ...). Finally, there might be a number of stupid lease origination fees that some leasors will charge. Most banks do not charge loan origination or early repayment fees for financing, but I'm not too sure about lease origination fees. If you shop around you'll find leasing companies that offer no-hassle no-surprise lease agreements. If you're thinking of leasing through BMW Financial, call them ahead of time to inquire about all fees at origin and at termination of the lease.

Good luck!

[Silver4evr]

ksz,
Good answer.

[alohalc]

Wow, you guys rock ! I couldn't ask for more. I'm so glad that I registered in this forum. I've learned a lot. I'll keep in mind about what you guys just mentioned and think twice before I sign anything. Btw, do you guys have any "tricks" or thoughts about how to negotiate in a exclusive dealership? Please advise. Thanks a bunch !

[Silver4evr]

Instead of negotiating between BMW dealerships, negotiate among BMW, Lexus, Mercedes, etc.