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      02-29-2008, 10:31 PM   #67
ronsil
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I have just asked my SA to cancel my order due to the ridiculous high lease rate. I asked to have my deposit return once the rate is official. Its sad but I will bend over no more. I've had enough from BMW.
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      03-01-2008, 12:32 AM   #68
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Quote:
Originally Posted by Ronsil View Post
I have just asked my SA to cancel my order due to the ridiculous high lease rate. I asked to have my deposit return once the rate is official. Its sad but I will bend over no more. I've had enough from BMW.
Good for you! Only you can decide whether or not you're comfortable with the price.

Leave the dealer on a positive note and say something like "I still want the car, let me know when you have some flexibility either on the price of the car or the interest rate."

You never know, they might call you back the next day and tell you they're going drop the price on the car by 1-2k just to keep your business.
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      03-01-2008, 03:16 AM   #69
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Quote:
Originally Posted by Ronsil View Post
I have just asked my SA to cancel my order due to the ridiculous high lease rate. I asked to have my deposit return once the rate is official. Its sad but I will bend over no more. I've had enough from BMW.
GOOD FOR YOU!!!

As much I love this car, I'm just not sure about BMW. They just seem too arrogant to me. If you compare the cost of the car to what's on the market, I still think it ticks most of my boxes though.
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      03-01-2008, 04:07 AM   #70
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Quote:
Originally Posted by Ronsil View Post
I have just asked my SA to cancel my order due to the ridiculous high lease rate. I asked to have my deposit return once the rate is official. Its sad but I will bend over no more. I've had enough from BMW.
I am very very proud of you!
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      03-01-2008, 04:21 AM   #71
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Can someone confirm the 7.75% rate is official.
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      03-01-2008, 07:22 AM   #72
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Quote:
Originally Posted by Ronsil View Post
I have just asked my SA to cancel my order due to the ridiculous high lease rate. I asked to have my deposit return once the rate is official. Its sad but I will bend over no more. I've had enough from BMW.
Well done. If there are enough people like you that don't want to be raped by a ridiculously high lease/finance rate in addition to the nonsense of US/Cdn pricing, eventually BMW Canada will bend. Your cancellation sends an important signal to the company - that their buyers' demand is not as price inelastic as they figured. Again, congrats!

As you may know, I was very close to ordering a 128i vert and now I've informed my SA that it's a no go. Screw you BMW! I'll take my business elsewhere or wait until you get your pricing right.
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      03-01-2008, 03:18 PM   #73
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Hey guys.. got the confirmed rates from my SR today..

Finance - 24mths to 60mths is 6.75%
Lease - 24mths to 36mths is 7.75%
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      03-01-2008, 04:27 PM   #74
ronsil
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Quote:
Originally Posted by 1LazyBmw View Post
Hey guys.. got the confirmed rates from my SR today..

Finance - 24mths to 60mths is 6.75%
Lease - 24mths to 36mths is 7.75%

^^^^^^
He is correct, the lease rate is confirmed to be 7.75%. No wonder they are holding it in for so long. I now can confirm cancellation. Nice to know all you guys here and have fun for those who is still in.
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      03-01-2008, 05:16 PM   #75
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^^^

Well done, unfortunately people canceling will be the minority....
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      03-01-2008, 06:22 PM   #76
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Were you people actually expecting 4.9% on a brand new model? The car is built by BMW not Chrysler.
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      03-01-2008, 07:33 PM   #77
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What I think people were expecting because of the stronger CDN dollar and the weakened USA dollar that BMW should so something bout either their pricing or the interest rate. Most other companies have and for BMW not too is what is bothering people especially when there is such a big gap from the US pricing and the CDN pricing of the 1 series. Thats what I think people are fustrated about.
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      03-01-2008, 08:57 PM   #78
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On a leased car the only thing that matters is the monthly payment. The MSRP, rate and residual are the smoke and mirrors by which BMW is essentially charging the same for a 135i as a 335i Sedan, which is to say our higher rate is like jacking the price up by $6K and charging the same rate as for the 335i Sedan (3.9%). Incidentally, we get a break on the residual values (2% higher than for the 335i models).

It looks like the 135i is intended to bring a younger demographic in to the dealer with the expectation that most will buy "up" to the 3 series once they actually look at the dollars.

The reality is that the 135i is a niche car with no real competitors if you are looking for exceptional performance in a small and unobtrusive rwd package. Yes, I feel like BMW is reaming us, but they seem to know just how hard they can ream and mostly get away with it.
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      03-01-2008, 09:56 PM   #79
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Quote:
Originally Posted by 1LazyBmw View Post
What I think people were expecting because of the stronger CDN dollar and the weakened USA dollar that BMW should so something bout either their pricing or the interest rate. Most other companies have and for BMW not too is what is bothering people especially when there is such a big gap from the US pricing and the CDN pricing of the 1 series. Thats what I think people are fustrated about.
BMW has under priced the 1 in the U.S. and now seem to be in a bit of a spot based on the dealer allocation issues.
http://www.1addicts.com/forums/showthread.php?t=4349

It would seem that the 1 is under priced in the U.S. not over priced in Canada.
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      03-01-2008, 10:50 PM   #80
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Garage List
1999 VF BMW M3  [5.00]
2001 BMW M5  [0.00]
2008 135i  [5.00]
2003 M3  [3.10]
2011.75 BMW M3  [4.17]
2009 STi  [3.83]
Just got my quote...
7.75%
57% residual.

Over $900/m for 36 months.


I hate to say this boys... but I believe I will cancel this.
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      03-01-2008, 11:59 PM   #81
koala
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Quote:
Originally Posted by stefan View Post
Just got my quote...
7.75%
57% residual.

Over $900/m for 36 months.


I hate to say this boys... but I believe I will cancel this.
You have to at that price. That's insane. I can think of many, many cars I'd rather have for $900 a month.

Hell, $800 a month will get you a Porsche Cayman.
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      03-02-2008, 10:20 PM   #82
linus
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Quote:
Originally Posted by stefan View Post
Just got my quote...
7.75%
57% residual.

Over $900/m for 36 months.


I hate to say this boys... but I believe I will cancel this.
Oh my God. My 335i resid is 59%. Why is the 135i lower ???????????????
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      03-03-2008, 12:50 AM   #83
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Garage List
1999 VF BMW M3  [5.00]
2001 BMW M5  [0.00]
2008 135i  [5.00]
2003 M3  [3.10]
2011.75 BMW M3  [4.17]
2009 STi  [3.83]
And to some of the above posts from the other side of the group (people who don't care).. where are you guys coming from? How is it OK to charge 7.75% when the car is already ridiculously marked up from its US counterpart?

I understand a bit of markup. I understand high interest rates.. but not when we are being gouged already. .. now it's... uber gouge..
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      03-03-2008, 12:42 PM   #84
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20% CDN markup + $2000 PDI + $400 dealer charge + 7.75% = my order canceled.

That's just too much to bare.
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      03-03-2008, 01:31 PM   #85
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I understand that our prices are significantly higher than those of our American counterparts, but have you guys not read about how BMW isn't fairing too well in the US market since the weak US dollar and faltering economy is reducing their profitability down there? I haven't been paying TOO much attention to this issue, but are they not reducing the number of 1ers to the US because of that issue (I may be wrong on this, they seem to say they are reducing the #'s every other week, but end up quoting the same numbers).

Before I get flamed, 20% higher is significant, but I'm not sure if I'd consider it gouging if they're not worthwhile margins with the US price anyways. I agree that our prices are too high, but I'd probably classify them somewhere between gouging and making a reasonable rate of return.

And I know a few people have brought this up, but I think we need to be reminded that the folks in the UK and mainland Europe are paying FAR more than we are for the same 1 series (29k pounds, 45k euros). And sure there's a more taxes built into that price, but regardless, those are base prices approaching or well into the $60k range.

Before saying that BMW is completely out of their heads and gouging us, I think we should temper our reactions with a bit of realism and look at a market besides the US where as far as the economy goes, shit is hitting the fan because consumers consistently buy products that they can't afford (regardless of how cheap they are).

My $0.02...
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      03-03-2008, 02:07 PM   #86
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Quote:
Originally Posted by Road Runner View Post
I understand that our prices are significantly higher than those of our American counterparts, but have you guys not read about how BMW isn't fairing too well in the US market since the weak US dollar and faltering economy is reducing their profitability down there? I haven't been paying TOO much attention to this issue, but are they not reducing the number of 1ers to the US because of that issue (I may be wrong on this, they seem to say they are reducing the #'s every other week, but end up quoting the same numbers).

Before I get flamed, 20% higher is significant, but I'm not sure if I'd consider it gouging if they're not worthwhile margins with the US price anyways. I agree that our prices are too high, but I'd probably classify them somewhere between gouging and making a reasonable rate of return.

And I know a few people have brought this up, but I think we need to be reminded that the folks in the UK and mainland Europe are paying FAR more than we are for the same 1 series (29k pounds, 45k euros). And sure there's a more taxes built into that price, but regardless, those are base prices approaching or well into the $60k range.

Before saying that BMW is completely out of their heads and gouging us, I think we should temper our reactions with a bit of realism and look at a market besides the US where as far as the economy goes, shit is hitting the fan because consumers consistently buy products that they can't afford (regardless of how cheap they are).

My $0.02...
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      03-03-2008, 02:37 PM   #87
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^^^

I do agree with you guys on this... However, the fact that you say that it's in between gouging and reasonable rate of return means that it's above reasonable and that is what I think most people, including me, have a problem with. Of course you can argue what is reasonable depends on what side of the fence you're on.

In terms of car pricing over in Europe, while I understand that it's natural to convert their price over there (Actually, I'm currently living in the UK), I think that's a mistake. You need to compare oranges to oranges. £29 000 over here does not equal $58 000 of spending power. All things being relative then, we're still being over charge more than a lot of other countries.
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      03-03-2008, 04:09 PM   #88
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^^^^

I agree with you on your first point, and I as well certainly take issue with the pricing when the pricing with our pricing being where it is versus our American counterparts. But we benchmarking against a market where BMW is dealing with narrow margins and is therefore reducing sales volumes. I could realistically see it lower than what it is here, but higher than what it is in the US.

I also think you're right in that comparing price points between currencies without taking into account local purchasing power isn't really comparing apples to apples. But whether the car is bought in the UK or bought in the US, its still built in Germany. I suppose the local cost of doing business, which is built into and affects the price is also different between countries. But the point I'm trying to make is that a business will price a product at whatever price they believe the market will withstand for a given sales volume. And as consumers, unless its a product where the demand is inelastic by necessity (like water, milk, gasoline), we can only be taken advantage of to the extent that we allow.

So I think the guys who've cancelled their orders because they felt the price was too high were right to do so. I really respect and even admire that decision (because I know how much people want this car) and the fact that people are voting with their dollars because thats how it should work.

I don't mean to sound too laissez faire here because I'm going to come off as aloof towards high prices, but everything is worth what someone will pay for it. So I guess we'll see a few months from now whether or not the price was too high, if there are dozens of these sitting at lots, then they priced too high, if every 1er sells out, then it'll be hard to argue that they were being ridiculous in their pricing strategy.

I guess Iím not really arguing (or not trying to), whether right or wrong thatís just how I see things... and I've now spent waaay too much of my work day posting on here!:bangdesk:
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