128i BMW Select offer

[lawandorder360]

In negotiations with a local dealer for a 128i paid under BMW Select...here are the figures:

MSRP: $31,525
Price agreed upon: $30,000
Down payment: $2500
48 months - $401 per month
$14,500 residual at 2.9%

How does this offer look? Any opinions? To me the monthly payment seems high...

Any help would be appreciated.

[adk749]

If you give me some specifics I can plug it into a spreadsheet I created for my deal (I also used Select). I put $5,000 down on a 135i and my payments are $375/month. I would need your state tax rate and what you are paying in fees (motor vehicle, MACO, training, document, etc.). Hope this helps.

Originally Posted by lawandorder360

In negotiations with a local dealer for a 128i paid under BMW Select...here are the figures:

MSRP: $31,525
Price agreed upon: $30,000
Down payment: $2500
48 months - $401 per month
$14,500 residual at 2.9%

How does this offer look? Any opinions? To me the monthly payment seems high...

Any help would be appreciated.

[lawandorder360]

Originally Posted by adk749

If you give me some specifics I can plug it into a spreadsheet I created for my deal (I also used Select). I put $5,000 down on a 135i and my payments are $375/month. I would need your state tax rate and what you are paying in fees (motor vehicle, MACO, training, document, etc.). Hope this helps.

That would be great. State tax rate is 7%, not sure about the other fees (don't have the specifics in front of me), if you could plug in that you paid that should be pretty close. PM'd you as well.

[adk749]

Very quickly, keeping NJ taxes and fees of about $600 in the mix. According to my calculations your monthly payment should be $365.02 per month. I can get you exact numbers and a screen shot of the sheet if you want it for your dealer. Most of them don't know how the Select Program works. Your finance the entire price of the car at 2.9% for 48 months. You then pay an extra 2.9% finance charge on the balloon for the right to move it to the end of the term. Hope this makes sense. I spent hours at my dealership and the finance manager and I finally made sense of what BMW was doing.

[lawandorder360]

PM'd you my email address, thanks.

[wmo168]

Originally Posted by adk749

If you give me some specifics I can plug it into a spreadsheet I created for my deal (I also used Select). I put $5,000 down on a 135i and my payments are $375/month. I would need your state tax rate and what you are paying in fees (motor vehicle, MACO, training, document, etc.). Hope this helps.

Can you PM me your deal and the number for select with $5000 down,. I am into the 135 and I want to use yours as a guideline


Thank you!

[dbtheo]

why are you looking at select rather than a lease or straight buy?

[lawandorder360]

Deal is signed, thank you to everyone for your help!

[adk749]

Originally Posted by lawandorder360

Deal is signed, thank you to everyone for your help!