[mjr24]

Originally Posted by hinckley

Hey ski, you did just fine, especially in today's market. The M8 was initially overpriced and BMW had to beat a quick retreat. Today, your car new is about $150k, so you got a $20k discount on what's essentially a brand new car.

Depends….if it was the color and options you wanted, might not be a bad deal. I've seen a few 20 Comps for 120-125 with maybe a few thousand more miles….but they also might be crappy colors or not well optioned.

[snareman]

Originally Posted by Stinger77

I don't want to sound negative but the reason why stealers are and will get away gouging prices is because WE consumers still buy these cars over MRSP so its not the Dealer who wants to make tons of money but is our fault as consumers and are incentivizing this stupid practice.

standard supply and demand. Someone people demand to have the cars and are willing to pay the premium for them. Not me, but some people obviously are.

[bloozemanAZ]

Originally Posted by snareman

standard supply and demand. Someone people demand to have the cars and are willing to pay the premium for them. Not me, but some people obviously are.

Agreed and per my comment earlier everyone's MMV in how much they're willing to pay on the demand continuum for a want vs others while supply is limited.

[Tenac]

Anyone else watch auction and repo stats?? I noticed an up tic in repo auctions, but have to wait towards end of month to see what black book says. Looks like those who bought high are feeling the pressures now.

[hinckley]

Originally Posted by Tenac

Anyone else watch auction and repo stats?? I noticed an up tic in repo auctions, but have to wait towards end of month to see what black book says. Looks like those who bought high are feeling the pressures now.

Brings up an interesting thought -- Would banks, or BMWFS for that matter, finance ADMs? I'm not talking leases, but straight purchase financings.

[Tenac]

Originally Posted by hinckley

Brings up an interesting thought -- Would banks, or BMWFS for that matter, finance ADMs? I'm not talking leases, but straight purchase financings.

Yup some in my area are offering up to 130% value loans to get borrowers in the door. Mostly Credit Unions though. I've been lucky to avoid any Dealer Markups so not sure how many people put down the markup in cash just to break even on the value for a loan though.... I would guess almost zero.

I was looking at a Defender and they offered my the low price of 80k over markup, I then instead put an order in at MSRP. Just to let everyone know that "contract you sign is just a promissory note" which is a one party note "You the Buyer". I found this out when the dealer called me a few months before my Defender was to show up to take on about 80k markup and I said don't think so I have this contract he then told me no that is not how that works. Talking with my attorney I come to find out that means nothing legally from the dealer they have the right to adjust pricing at anytime. I backed out they sold my unit to another for markup......

[hinckley]

Originally Posted by Tenac

I was looking at a Defender and they offered my the low price of 80k over markup, I then instead put an order in at MSRP. Just to let everyone know that "contract you sign is just a promissory note" which is a one party note "You the Buyer". I found this out when the dealer called me a few months before my Defender was to show up to take on about 80k markup and I said don't think so I have this contract he then told me no that is not how that works. Talking with my attorney I come to find out that means nothing legally from the dealer they have the right to adjust pricing at anytime. I backed out they sold my unit to another for markup......

My dealer - who has a bunch of cars on the lot - shows an ADM on every single car. Even lowly 330s have a $4k ADM. $30k on their 8s, $40k on their M8s. Their Porsche side has a $130k ADM on a used 911 Turbo S. I have no idea how many people actually pay it, but I presume that there are a bunch who don't know enough or are too shy to negotiate. It took me maybe five minutes to have them back-off an ADM on my special-order M8.

[bloozemanAZ]

Originally Posted by Tenac

Yup some in my area are offering up to 130% value loans to get borrowers in the door. Mostly Credit Unions though. I've been lucky to avoid any Dealer Markups so not sure how many people put down the markup in cash just to break even on the value for a loan though.... I would guess almost zero.

Wow, 130% loan on a depreciating lack of asset? That's insane and at least the mortgage industry learned their lesson from the 2006 to 2008 housing "bubble".

Originally Posted by Tenac

I was looking at a Defender and they offered my the low price of 80k over markup, I then instead put an order in at MSRP. Just to let everyone know that "contract you sign is just a promissory note" which is a one party note "You the Buyer". I found this out when the dealer called me a few months before my Defender was to show up to take on about 80k markup and I said don't think so I have this contract he then told me no that is not how that works. Talking with my attorney I come to find out that means nothing legally from the dealer they have the right to adjust pricing at anytime. I backed out they sold my unit to another for markup......

Yes, and the worst case scenario is you lose any deposit on the order. That varies by state but here in AZ facing your scenario I'd tell the dealer to go pound sand as well and that could lose my deposit. No worries though as the most I'll ever put down on a deposit is $2500 (did that with my BMW orders) so losing that and turning around and getting another at MSRP vs an $80K ADM is a no brainer.

[bloozemanAZ]

Originally Posted by hinckley

My dealer - who has a bunch of cars on the lot - shows an ADM on every single car. Even lowly 330s have a $4k ADM. $30k on their 8s, $40k on their M8s. Their Porsche side has a $130k ADM on a used 911 Turbo S. I have no idea how many people actually pay it, but I presume that there are a bunch who don't know enough or are too shy to negotiate. It took me maybe five minutes to have them back-off an ADM on my special-order M8.

And they should as on the special order they have zero inventory tied up on a car that will just show up and be driven off their lot the next day. Two dealers here want $2500 to $5K ADM depending on the series ($5K on the 8). However, one dealer (bought my two BMWs from them) is $0 ADM on an order.

[Tenac]

Originally Posted by bloozemanAZ

Wow, 130% loan on a depreciating lack of asset? That's insane and at least the mortgage industry learned their lesson from the 2006 to 2008 housing "bubble".



Yes, and the worst case scenario is you lose any deposit on the order. That varies by state but here in AZ facing your scenario I'd tell the dealer to go pound sand as well and that could lose my deposit. No worries though as the most I'll ever put down on a deposit is $2500 (did that with my BMW orders) so losing that and turning around and getting another at MSRP vs an $80K ADM is a no brainer.

Exactly maybe this year will be an auto loan bust. hehehe. I've been lucky that only the M8 I ordered they wanted 500$ down but no longer need anything from me. I guess using same dealer does have a bit of benefit. But you are correct in AZ they can keep the deposit unless it states refundable.

[bloozemanAZ]

Originally Posted by Tenac

Exactly maybe this year will be an auto loan bust. hehehe. I've been lucky that only the M8 I ordered they wanted 500$ down but no longer need anything from me. I guess using same dealer does have a bit of benefit. But you are correct in AZ they can keep the deposit unless it states refundable.

Yes, and at least with BMW North Scottsdale the terms are refundable up until the point the car goes into production. However, they were willing to allow me to walk away on my first M850i order due to the BMW ZDX watered down Driving Assistance package. Instead I chose to have them fight BMW NA for another expedited allocation (which they got within a week of explaining the debacle to them). Granted it still took BMW NA over 4 months to replace ZDX with ZDA in the build your own configurator but the power of this forum got the word out and many walked away from orders with ZDX.

[Ghostrider641]

Makes me wonder if someone would buy my car the day after I buy it? I’m happy to take $10k over what I’ve paid, if anyone is interested….

[Ttuite]

Originally Posted by Tenac

Anyone else watch auction and repo stats?? I noticed an up tic in repo auctions, but have to wait towards end of month to see what black book says. Looks like those who bought high are feeling the pressures now.

Mannheim is upside down. Very few M8 and M850 convertibles for sale. What is there is way overpriced. OVE, (supposed to be dealer to dealer) is super high retail at best.
Just like purchasing a house right now here in Florida you are better buying new and waiting on delivery. Much better value.

I did see one exception this weekend. Criswell Chevrolet in MD has a 2022 M850 with 7,000 miles listed for $107,000.00 car is loaded up. I passed because my wife convinced me that it was missing the 2 tone interior and it had the blacked out trim option which I hate. Hey! Who’s to argue with the wife when she is on your side.

[bloozemanAZ]

Originally Posted by Ttuite

I did see one exception this weekend. Criswell Chevrolet in MD has a 2022 M850 with 7,000 miles listed for $107,000.00 car is loaded up. I passed because my wife convinced me that it was missing the 2 tone interior and it had the blacked out trim option which I hate. Hey! Who’s to argue with the wife when she is on your side.

Yep and why I'm buying out my 2020 M850i when the lease is up as at about 9K miles (will be likely 11K by this December after the CA road trip later this month) it's worth more than the residual no questions asked as fully loaded.

Looks like based on the info from Criswell that's a pretty good price for a convertible and via the VIN definitely loaded. As for the interior I too would run to the hills on all Ivory White. In regards to the wife aspect same here as she has shit canned all prospective 2023 builds I've shown her as she loves my 2020 and was on my side (even prodded me when I waffled) on it's purchase.

[Nykrayz]

anyone know if there is any loyalty on 2023 m8s ?
also if any bmw cca rebates

i cant seem to finding anything online

[snareman]

Originally Posted by hinckley

My dealer - who has a bunch of cars on the lot - shows an ADM on every single car. Even lowly 330s have a $4k ADM. $30k on their 8s, $40k on their M8s. Their Porsche side has a $130k ADM on a used 911 Turbo S. I have no idea how many people actually pay it, but I presume that there are a bunch who don't know enough or are too shy to negotiate. It took me maybe five minutes to have them back-off an ADM on my special-order M8.

Hopefully someone isn't too shy or smart to negotiate on an extra $130k fee. Those other numbers are just as crazy though.

[hinckley]

Originally Posted by Nykrayz

anyone know if there is any loyalty on 2023 m8s ?
also if any bmw cca rebates

i cant seem to finding anything online

I think these things change month-to-month, but at June 30, I got $1500 from BMWFS for financing a piece of the purchase. I don't think there's any sort of loyalty discount these days. And thank you, you reminded me to submit my BMWCCA rebate application for $1000!

[Nykrayz]

Originally Posted by hinckley

I think these things change month-to-month, but at June 30, I got $1500 from BMWFS for financing a piece of the purchase. I don't think there's any sort of loyalty discount these days. And thank you, you reminded me to submit my BMWCCA rebate application for $1000!

if no loyalty how did you get $1500 if you dont mind me asking
all i got going is i was locked in 3.49 apr in march

[hinckley]

Originally Posted by Nykrayz

if no loyalty how did you get $1500 if you dont mind me asking
all i got going is i was locked in 3.49 apr in march

I may be mistaking, and it was a "loyalty discount". I hadn't planned on financing but I when I asked about discounts, the finance guy said I'd get the $1500 if I financed a part of the purchase. So I took a note for a small amount and plan to pay it off after three months (so the dealer doesn't get dinged). But I guess I really don't know if I got the discount because I financed, or because I financed and owned another BMW.

[Nykrayz]

Originally Posted by hinckley

I may be mistaking, and it was a "loyalty discount". I hadn't planned on financing but I when I asked about discounts, the finance guy said I'd get the $1500 if I financed a part of the purchase. So I took a note for a small amount and plan to pay it off after three months (so the dealer doesn't get dinged). But I guess I really don't know if I got the discount because I financed, or because I financed and owned another BMW.

got ya. if my car is hear by end of week i will see what they got
they were open and told me any incentives bmw offers i can get if they exist at time of finalizing sale

thanks

[Tenac]

CCA still does the 1000 for the 8 series.

[Dagwag77]

I'm looking at a 22 comp convertible, MSRP is 160,345. Dealer had it listed for 185. What do you guys think is a fair sale price? Somewhere in the 160s? I realize the days of 10% off sticker are long gone :/