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#1
09-19-2008, 08:56 PM
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Need Access to Manheim auction to price out Vehicle coming off Lease
I have a 39 month lease on a 2005 X5 3.0i that currently have 13,500 miles. The lease end date is 11/15/2008. The vehicle is in pristine condition. The residual value is $29,627.00. The vehicle is black sapphire metallic, beige leather, cold weather package, premium package, rear climate package, automatic transmission, heated steering wheel, and BMW rain/wind reflectors. The vehicle was involved in an accident and repaired by an authorized BMW repair shop. The amount of damage to the rear of the vehicle totaled around $1,400. I would like to keep the vehicle and want to negotiate a price with BMW financial services. What are some things to ask for during the negotiation. 
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#3
11-01-2008, 11:53 PM
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we bought ours 2004 from manheim a year ago for $26,000 with 43,000 miles. i have lost access but i know they were low 20's about 6 months ago. not alot of difference for a 2005 since 2004 was the remodel year. maybe add a couple of grand. if you can successfully negotiate i would think 25-27K is good.
otherwise, just buy another used one, they are a dime a dozen right now. maybe pick up a 4.4. same mileage, better performance...
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#4
11-02-2008, 07:43 AM
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Quote:
If I return the vehicle, BMWFS will sell it at auction. That is why I will accept an offer from BMWFS that is close to auction price on the vehicle. So knowing the auction prices on a vehicle with my specifications (see 1st post of this thread) will give me a good idea on how far I can negiotiate. Please let me know what you think about the current price on the table from BMWFS. I would like to squeeze at least $1,500 more off the current offer from BMWFS.
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#5
11-02-2008, 11:53 AM
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does your $1500 include the cost of financing? they have given you a deal on it. most auto loans are atleast 7.9, maybe higher with all the crazy subprime stuff.
this spread gives you a big savings over having to finance yourself or the opportunity cost of not investing the money. i would finance right now and invest the difference if you have it...
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#6
11-02-2008, 03:54 PM
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Quote:
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#7
11-03-2008, 01:44 AM
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financing costs are easy. just get any loan calculator and use 2.9% for 5 yrs.
3% of 25,000 is 750 for first year ,3% of about 20000 for second year, etc
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#8
11-03-2008, 02:02 AM
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you could try kbb (kelly blook book) to get an idea of the worth. the auction idea is a good one, too. The prob youre going to have is that your X has really low miles, and the bmw people are going to be thinking CPO $$$, not auctioning it off. so if you dont want it, so they will make plenty of money off it
 I recommend you drive the 4.4 if you are gonna end up spending a bunch of cash on the X you have now...If you drive it you will like it much better im sure
Last edited by GmX5; 11-03-2008 at 02:09 AM.
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#9
11-03-2008, 06:54 AM
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#10
11-03-2008, 08:38 PM
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Hello,
After negiotiating with BMWFS, the total dollar incentive is now up to $6,200 off the residual value of $29,427.00 with 2.9% financing up to 5 years. So, the price of the vehicle is $23,427.00. The other fees are as follows: $23,427.00 + 52.00 - Title fee + 702.83 - Sales Tax _______________ $24,181.83 - 600.00 - Refundable Security Deposit _________________ $23,581.83 - Amount to Finance at 2.9% for up to 5 yrs.. Is this a great price or should I try to negiotiate more?
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