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#1
04-07-2007, 09:00 AM
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test drove SRT-8 and 2007 x5 yesterday
I first started looking for a 2006 jeep cherokee srt-8. They are very hard to find, lets just say impossible. I figure I would get one with some miles on it so I could be in the payment point I was looking for. I walked into a jeep dealership and on the showroom floor was a 2007 black srt8. It was so badd asss looking. If you guys haven't seen one in person, I suggest you do so. The exterior is so awesome but...the interior is much to be desired. I mean, when you are used to a bmw interior, there is nothing that can compare. I had to take the srt for a test drive. They backed it out of the showroom floor, all the sales reps were telling me how badd ass the car was and how much i'm gonna like it. This suv hauls ass! It wants to go, go, go. I didn't have it out for very long but, I could definately tell that the handling cannot compare to the x5. But, if you are looking for a race car in an suv body, this is it. The srt does have all the bells in whistles you could possibly want, heated seats, bluetooth, nav, great stereo, etc but some how chrystler makes it look cheap inside. Even the cheap looking interior, the exterior makes up for it. We started neogotiations. He first said if I can get you in this ride for $600 a month would you do it? I said hell yea and signed. They couldn't come close. They got it down to ~$775 which I was not comfortable with. I didn't want a 2007 anyway, I try never to buy brand new cars so I don't take that huge depreciation at the beginning of the purchase. My next stop was the bmw dealership. I test drove a brand new x5 3.0. Man they are nice. The interior is all bmw, very, very plush. The exterior is awesome but, I wish, since a new model, it would have a little more style to it. After speaking with the sales rep, there was no way I was getting into one in the $600-$700 range, even if leasing. Don't believe the leasing prices on the bmw website. I then test drove a 04 545i and a 04 745il. Both were great. I came close to purchasing the 04 545i because of the current bmw finance specials they have on the model right now. But, I didn't. I walked. I was not totally sure I wanted to move from an SAV to a car. So, I'm still driving my 02 X5 3.0. Is there any way to find out BMW's finance specials a month in advance???? Last edited by lovinthex5; 04-07-2007 at 09:08 AM. 
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#2
04-07-2007, 11:22 AM
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How much was the srt-8? It should only have an msrp of around $42k to $45k. If you do a quick check on ebay, there are srt-8s going for around $42k and they are 2007. Bmw will never give their lease specials. 328i with no options execept atuo transmission was priced at $472 per month. You might want to try calling dealerships out-of-state to get some prices. Then you can come back to your dealerships and have them drop theirs.
Last edited by SilverBullet; 04-07-2007 at 11:28 AM.
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#3
04-07-2007, 11:29 AM
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I don't like 2007 X5
I didn't like the 07 X5. I liked the interior in the pictures, but when I saw it in person, I didn't like it. The Navigation screen is too small, seats felt the same as the other X5s. It is designed for an older taste. It just seemed for an older family car! Its not hip and sporty as the older body style. I loved the 5 series, its very very cool. But I tell you, I am going to save my money for either a 2009 Porsche Panamera or Mercedes CLS 63 AMG!
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#4
04-07-2007, 12:22 PM
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Quote:
A little O.T. but, this is something I don't understand. Not referring to you lovinthex5, but just in general. Why people start negotiating about the monthly payment first, do they realize how much they actually pay for the car. Sure, if I need a loan when bying a car, I also first think how much I can pay in a month, but that being said, I also think how long I want to pay and what's the loan amount I need/want. Ok, I have figured that out, now I go to dealer who has the car I want and start negotiating on car, and all I'm interested is how much difference I need to pay to trade car, not the monthly payment. And if we have agreed the price, then I may ask what's the financing from the dealer and compare that to rate my bank gives me and take the cheapest offer. I'm just saying that if you are interested on monthly payment only, you don't know how much interest and other fees you are paying, it can be anywhere between 0.5 and 12% or higher. Have you watched King of Cars on TV, on A&E. There you can see that all customers in the show care about is the monthly payment only, nothing else.
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#5
04-07-2007, 01:02 PM
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Funny you mentioned this. I live in Las Vegas, and his dealership is right next to my BMW dealership. He has all these chargers and 300s with rims and lambo doors. He also adds a sticker to the msrp, raising it another $15k on certain cars.
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#6
04-07-2007, 02:48 PM
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I always talk payment with these people. Then, I ask length of loan and interest rate. I figure if they can get me a good payment, then the interest rate and and total cost of the care will be low. They did try doing 72 months instead of 60 without asking. Problem I have is that I like having a car every couple of years. What I try to do is buy a used car with around 30k on it. Then, when I turn it in, i'm not totally upside down in 2 years. For instance, I purchased my car in Sept of 2005, right now I am only about 3000 upside down. Thats with 2.9% interest rate at 60 months. I think I am going to wait until bmw has another blowout sale like I caught last time. Anyone know if bmw last year had 2.9% on certified used?
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#7
04-07-2007, 02:55 PM
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If you are talking about financing then yes it applies. But if you are talking about a lease the residual value or "how much you pay for the car" is only a portion of the depreciation plus the money factor. The Cap Cost of the car or MSRP does not really come into play and becomes only relevant until you need to either sell the car before lease term ends or actually purchase the car after the lease.
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#8
04-07-2007, 02:57 PM
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By the way, I LOVE King of Cars show. Its great seeing those car sales reps in action...shady bastards.
The srt was stickered at $44XXX. The dealer said he would sell it to me at invoice. But, with 8% interest and no down payment, and $3000 upside down, they couldn't get it in the $600's. If the thing had a better interior I might think of paying in the $700's. I'm now thinking that I want to stay w/ a suv. I own my own business and the $25,000 tax insentive (sp?) is nice. I've been searching around...Range Rover, 2007 Escalade, Yucon Denali 2007, Porshe Pepper S....Problem with the Escalade and Denali, if you buy anything older than 2007 the interior sucks. Meanwhile, as I say above, I like buying used. Things I want that my 2002 3.0 X5 doesn't have: Nav, bluetooth, bigger engine would be nice, integrated ipod hookup (i have ice-link now) Any suggestions?
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#9
04-07-2007, 03:52 PM
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#10
04-07-2007, 05:27 PM
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Great buying tips!
These 10 steps seems very helpful to me when comes to buying a used car.
And "Confessions of a Car Selesman" was very interesting article, to see what is going on, when you decide to buy either used or new car! So be smart, don't let them rip you off! http://www.edmunds.com/advice/buying...les/index.html
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