2010 135 Paid more than I should have:(

[wyandy]

Yesterday(8/1), I ordered a 2010 135.
Without knowing this forum's existence, I was rather naive and ended up paying invoice+1400.
Do you think it is possible for me to still negotiate or is it a done deal?

[bluejaypanther]

Originally Posted by wyandy

Yesterday(8/1), I ordered a 2010 135.
Without knowing this forum's existence, I was rather naive and ended up paying invoice+1400.
Do you think it is possible for me to still negotiate or is it a done deal?

It's not a done deal until you drive it off the lot. The question is, can you get a deal that is still better after losing your deposit?

As far as changing the deal right now goes, I don't think it will work. I mean if you negotiated a great deal - like 300 over invoice - and then when you went to pick it up the dealer decided they wanted 500 more, how would you react?

The good news is that while you can get a better deal that 1400 over invoice these days, compared to prices a year ago, you didn't do all that badly. A lot of people have paid more than you since the car was introduced.

[CPSOX]

Don't sweat it....you'll love the car and realize it's worth every last penny.

[moveswiftly]

Just call back and say that you looked over finances and are on a very tight budget. You may have to cancel the offer, "unless" they lower the pricing down. If they cant give you the deal you want, go to another dealer. You should be able to get a nice deal of about 500-700 above invoice, I got 500 over invoice with mats and wheel locks (an additional 120). Good luck.

[jibaholic101]

Originally Posted by chesterfan1230

Just call back and say that you looked over finances and are on a very tight budget. You may have to cancel the offer, "unless" they lower the pricing down. If they cant give you the deal you want, go to another dealer. You should be able to get a nice deal of about 500-700 above invoice, I got 500 over invoice with mats and wheel locks (an additional 120). Good luck.

this is a good idea, although i wouldnt stress about the strict budget because they might try to talk you down to a lower priced car. just go back and try to do better. if not, bight the bullet

[Angry3]

Originally Posted by wyandy

Yesterday(8/1), I ordered a 2010 135.
Without knowing this forum's existence, I was rather naive and ended up paying invoice+1400.
Do you think it is possible for me to still negotiate or is it a done deal?

Nothing is a done deal until you take delivery of the car. At this point they haven't likely haven't done anything but fill out the buyer's order, so it's not like they have an allocation they've devoted to your car. Just be honest and tell them you've had a change of heart after talking to your family about it, they shoud refund your deposit immediately. If you were smart you put it on a credit card, in which case you just dispute the charge if they hardass you about it.

From there you can start your negotiations over with either the same dealer or use a different one that's willing to do one of the razor thin deals that everyone here seems to be in search of.

Honestly, if you like the dealer, you can probably leverage them a bit with the deal you have. Get them to cover their doc fee, throw in the floor mats, and throw in a couple of oil services between the 15K covered ones and your deal just got a lot better. Invoice +1400 +TTL on a car this price is far from a terrible deal, it all depends on how you feel about it.

Good luck, hope that helps,

[KingOfJericho]

Why is it that so many people fail to do any real research before starting the negotiation process? I told my salesperson up front that I wanted to see what invoice pricing was before I would talk money. People who do no research are a dream for a CA. Also, it's a common practice for dealers to tell you that a lease is based of MSRP but that's a load of hooey also. Come on the forum of the car you're looking to buy BEFORE making any kind of deal.

To the OP, you can definitely back out of the deal. I had a deposit at a dealer for my GTI and they just kept telling me they were looking for the car but never found anything. I went to another dealer who had the car in 2 days. When I tried to get the deposit back from dealer #1, they tried to keep it. I called back and spoke to a manager who ended up issuing the credit. The sales guy also issued the credit but issued it twice and taking one back. I actually made a $250 profit from canceling.

[AchtungF80]

Simple...take your current deal over to another dealer and have them beat it. Or just use that number and simply negotiate lower at another dealer, then come back to original dealer and either cancel or have them match.

[bmwzone]

Originally Posted by wyandy

Yesterday(8/1), I ordered a 2010 135.
Without knowing this forum's existence, I was rather naive and ended up paying invoice+1400.
Do you think it is possible for me to still negotiate or is it a done deal?

Dude - don't fret the price. You have a car that only vehicles like 50k Porsches compare to. Mine is a 2008 and still love this ride!

[cagekicker]

don't worry you'll be okay.

[lamj01]

I ended up paying $1100 over invoice and I actually thought that I did do my homework but just not that well because I only discovered this site after the fact. They also charged me $400 fee, then tax (3%) and tags/license $75. Floor mats included.

If you check out kbb and edmunds, you'll see that you did pretty well. However, when looking at this site you start to think that you did not do that well. I ordered my car already and I thought about renegotiating but ultimately chose not to. Also keep in mind that this was for a 2009 model. I lived in a city before that did not require me to need a car and now I do so I am currently car-less and could not wait for the 2010 model.

The reason I decided not to negotiate was because, first of all I like my CA, good guy with a family so I did not mind giving him a little more. Although this is probably just my way of justifying the fact that I did not get that great of a deal. He made the entire car buying experience rather laid back which was nice. I will be buying future BMWs from this guy who has been at this dealership a while and I will get my car serviced there too. However, the main reason I chose not to renegotiate was that I had already agreed to the deal and I did not want to sour my experience of attaining this car because it's hard to hide the fact that I really like this car.

Ultimately you have to decide if negotiating another few hundred dollars off a >$40K car is worth all the trouble. Best of luck.

[CPSOX]

+1 Lamj01

You made a deal. You were happy leaving the dealership that day after you circled a number and shook hands. I'm glad that I'm not a car dealer because I'd have a real hard time with someone walking back into my showroom trying to renegotiate just because someone else got a better deal a world away.

At most I'd mention to your CA after you consumate the existing deal is that you saw others get a little better deal and that in a few years when you walk back in to buy another, you'll try to do a little better. Anything more than that and you're handing over your integrity for a few hundred bucks. Not worth it, IMO.

[RPM90]

Originally Posted by wyandy

Yesterday(8/1), I ordered a 2010 135.
Without knowing this forum's existence, I was rather naive and ended up paying invoice+1400.
Do you think it is possible for me to still negotiate or is it a done deal?

Check your states laws on deposits. Most do NOT allow a dealer to keep the deposit, even though a dealer will tell you it's "non-refundable".
My dealer told me that, but my state law says otherwise.

Once you know the issue on the deposit, then you can negotiate the price at the actual time of sale. At this point you didn't buy the car, you simply ordered it. You still have the final say on it it's acceptable before you actually sign the deal.

The other option is to add some add ons such as floor mats, rubber mats, mud guards, tire/wheel insurance, doc fee, etc...

A good deal is about $500 over invoice on these cars. Invoice is about $500 more than what Edmunds.com lists. So, you've got $900 to work with to make your deal sweeter.

Did you use your credit card to put the deposit down?
If so, check to make sure it was actually taken.
Your CC company can take back the deposit if you tell them you changed your mind and don't want to buy the car.
Using a CC, especially a "gold" or "platinum", offers some good services and protections, and I recommend using CC's for deposits due to those protections.

[wyandy]

Originally Posted by RPM90

Check your states laws on deposits. Most do NOT allow a dealer to keep the deposit, even though a dealer will tell you it's "non-refundable".
My dealer told me that, but my state law says otherwise.

Once you know the issue on the deposit, then you can negotiate the price at the actual time of sale. At this point you didn't buy the car, you simply ordered it. You still have the final say on it it's acceptable before you actually sign the deal.

The other option is to add some add ons such as floor mats, rubber mats, mud guards, tire/wheel insurance, doc fee, etc...

A good deal is about $500 over invoice on these cars. Invoice is about $500 more than what Edmunds.com lists. So, you've got $900 to work with to make your deal sweeter.

Did you use your credit card to put the deposit down?
If so, check to make sure it was actually taken.
Your CC company can take back the deposit if you tell them you changed your mind and don't want to buy the car.
Using a CC, especially a "gold" or "platinum", offers some good services and protections, and I recommend using CC's for deposits due to those protections.

Thanks for the good info.
My deposit is kinda complicated.
Since I had a spare car, I used trade-in as my deposit/down payment.
Now, I learned something new. Always use a CC for deposits.
My sales guy is on vacation so I am going to see what he says about it on Thursday.
It would be great if I can get a sweeter deal (I won't negotiate for a better price but as you mentioned, I am going to try to get some floor mats and doc fees) but we will see how it goes.


Thank you all for the feedback

[Jaguar66]

!

[KingOfJericho]

Originally Posted by RobMason

Don't you think this is not right. Think about what you would feel like if someone did this to you. Too many people out there feel this is your good luck as if you found it on the street. Not the same. I would hope you would feel better if you went to the BMW dealership and showed them their mistake. You could get a lot more in return by letting them know you this.

I was taught what you put out there ultimately comes back multiplied many times over.

That said if it were a million, I would take the money and run.

They were the same dealership that initially, and persistently, tried to keep my $250 deposit after stringing me along for several weeks with no results [it's illegal to keep a deposit in CT]. After calling them and telling them that I wanted the deposit back because another dealer was able to get the car, the salesman told me that the service manager was angry with me for canceling and did not want to refund my deposit. They were flat-out bullshitting me and I caught them doing it. Had they not tried that, I would surely have tipped them off to the error but they tried to screw me so I now screw them. You forget that it is their job to take advantage of the naive. I am far from naive.

People who are nice to me and treat me with respect will get appropriate treatment. When I was at the deli last week picking up lunch, I gave the guy a $10 bill for an $8~ sandwich. He gave me back $11~. I handed the ten right back to him and pointed out the error. He was very thankful.

[otterdoc]

I'd go back and try to sweeten the deal with some extras, as was suggested. In the long run, a few hundred bucks could be considered a way to solidify goodwill with the dealer for future repairs and services and so on.

I paid a bit more than some people but I'm utterly happy with my dealer and the positive negotiation process I used. My CA, the Sales Manager, the dealership General Manager, and my Service Advisor have all bent over backwards to make sure that I've been utterly satisfied with everything. I wouldn't do anything to ruin that positive relationship, especially for a few hundred bucks.

It's not like you paid MSRP or over MSRP, so you didn't get rooked. And making big changes (like going to a different dealer) dumps a lot of hassle in your lap. I'm all about going the easy/smooth way, obviously.

The only time I'd think it was appropriate to cancel or renegotiate the deal is if you've actually gone over budget with the price you've settled on so far.

[Taymaishu]

Originally Posted by chesterfan1230

Just call back and say that you looked over finances and are on a very tight budget. You may have to cancel the offer, "unless" they lower the pricing down. If they cant give you the deal you want, go to another dealer. You should be able to get a nice deal of about 500-700 above invoice, I got 500 over invoice with mats and wheel locks (an additional 120). Good luck.

Exactly.

Keeping a deposit of $1400 is not worth losing their margin of about $15-20k.

[KingOfJericho]

Originally Posted by Taymaishu

Exactly.

Keeping a deposit of $1400 is not worth losing their margin of about $15-20k.

Their margins are nowhere near $15-20k. Porsche has the highest margins in the biz and even those aren't that high.

[lamj01]

Originally Posted by otterdoc

I'd go back and try to sweeten the deal with some extras, as was suggested. In the long run, a few hundred bucks could be considered a way to solidify goodwill with the dealer for future repairs and services and so on.

I paid a bit more than some people but I'm utterly happy with my dealer and the positive negotiation process I used. My CA, the Sales Manager, the dealership General Manager, and my Service Advisor have all bent over backwards to make sure that I've been utterly satisfied with everything. I wouldn't do anything to ruin that positive relationship, especially for a few hundred bucks.

It's not like you paid MSRP or over MSRP, so you didn't get rooked. And making big changes (like going to a different dealer) dumps a lot of hassle in your lap. I'm all about going the easy/smooth way, obviously.

The only time I'd think it was appropriate to cancel or renegotiate the deal is if you've actually gone over budget with the price you've settled on so far.

+1 Exactly!

Completely agree with the quote above. Especially on the amount of headache you may experience starting over and your overall buying experience. Such things are hard to put a price tag on.

When I ordered my car I actually ended up paying a little more to my CA vs another dealership because the guy that was offering slightly less was for lack of a better word, a complete ars. The CA I ultimately bought my car from was great. I felt much better giving my hard earned money to someone that I feel was a person of good character vs someone who just tries to take advantage and smooth talk everything.

As far as what dealerships make off a car. I heard once that on average dealerships get cars for about 11% below MSRP. The 1 series is marked up about 8.5% over invoice. So if you do the math, that means they get about 2.5% profit off the car if sold at invoice. Now, you have to bear in mind that this is a business. This 2.5% has to pay the bills, employees, etc. LEt us know what ends up happening.

[Harry135]

Hi chaps, from the UK. Have been wondering and now seems the appropriate time to ask. Could you explain "over invoice", is the invoice the amount the dealer is buying the car in for from BMW? Don't have that kind of information here - so you never really know how much the dealer is making.

[KingOfJericho]

Originally Posted by lamj01

As far as what dealerships make off a car. I heard once that on average dealerships get cars for about 11% below MSRP. The 1 series is marked up about 8.5% over invoice. So if you do the math, that means they get about 2.5% profit off the car if sold at invoice. Now, you have to bear in mind that this is a business. This 2.5% has to pay the bills, employees, etc. LEt us know what ends up happening.

I always factor this in as well. I never understood why some people demand that a dealer make zero profit or lose money on their transaction. Don't you get annoyed when you have to pay the electrical bill each month? Imagine what it is on a large car dealership then do the math for how many cars they have to sell just to cover that single expense. Also, doc fees, which most people seem to implore, are typically just to cover the cost of back-office staff which is imperative. I have no problem paying those fees, so long as they're reasonable. One that I am not happy about paying is MACO but whatever, it is what it is.

I also really like my CA. I was at the top of the waiting list for the 135i when it was first announced and then dropped off the list, then went back on and dropped off again. Each time with a $500 refundable deposit. She was happy to oblige each time and never huffed or puffed. I was very happy when I was able to call a few weeks ago and actually order a car from her and we both laughed about the 2 false starts. Getting the car for $700 over invoice lets her make some money and gets me a good deal.