Actually... wait... I think my logic is flawed here.

I just looked at the 2009 X5d "Invoice" price AmEx is using to start their calculations and it's $48410.- for the base car. Then they add options (no fees) at Invoice/Wholesale price, plus $500 o/i profit, minus $4500 and that's the complete number you are suppose to take w/you and get the car for w/no haggling.

Since we know that 2010 X5 prices, so far, have not gone up relative to the 2009, then 2010 X5d Invoice used should be the same... NOT $47105 Wholesale I've been using. Ok, I see my mistake.. the definition of the Invoice price really IS: Wholesale + Dest Charge + MACO + Training Service Fee (which comes out to $47105 + 825 + 200 + 180 = $48310 - not sure why it's off by $100 but who cares its in the right direction ). That explains my cofusion... I think... still doesn't solve my problem but at least I think I have an understanding of all the numbers and their relationships now.

I should really call AmEx back and take back that complaint they logged now...

spacey