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01-24-2008, 10:59 AM | #1 |
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Now that Canadian pricing is out.. lets talk abour interest rates...
On another thread we have the pricing out so lets talk about the finance and leasing rates.. I haven't ordred mine yet.. going too soon but anyone have any idea what the rates will be...?? I am hearing mixed things, originally when I went to put my deposit my sales rep said its like 8% or something for lease and 7 something for finance.. but then again I am hearing of special rates that will help better align with the cdn dollar.. anyone know or have any insight on this??
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01-24-2008, 11:23 AM | #2 |
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Well I was looking at rates yesterday from BMW, their lowest was like 3.9% (I think) for the 323i which is pretty entry level (moreso than the 1ers I would say). and The highest was 5.9% for something like a 335xi. Looks like higher demand and new models are 5.9%, mid demand (335 sedan) are 4.9%, and lower selling models are 3.9% (5 series, 7 series...). The X3 is 3% even.
they have lowered rates in the past couple months to be more competitive with the dollar and I asked my SA about rates as well and he said the pricing on the 1er was lower than he expected, so hopefully the rates are as well. I wouldn't be suprised with 5.9% on the 1er, that looks like their highest rate right now and the bank just cut interest rates a quarter percent. |
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01-24-2008, 11:56 AM | #3 |
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If you compare the price with other models, yes it is lower, but if you compare with the US, it is 20% more, eventhough all the options are higher than US, i don't understand where is the money go to, BMW canada or the government?
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01-24-2008, 12:08 PM | #4 | |
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Yeah the 20% gap is pretty high, but in a way I guess it does make sense...after looking more closely at other cars, mainly an A3 and GTI, it is somewhat "competitive"...a base A3 is 33,900, a gti(5 dr) is 30,000... It just sucks |
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01-24-2008, 02:35 PM | #6 |
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There are a couple import duties that are paid by Canadians that aren't by the Americans... I forget what the amount was, at least several hundred (maybe over $1000) though, and if we were importing the vehicle from the US we'd still have to pay that at the border.
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01-24-2008, 04:29 PM | #8 | |
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Maybe costs are higher to bring it into Canada...but then, why was the same (% wise) difference when the dollar was at 70 cents ok? That's why it's somewhat insulting now to have a 20% gap, before it made sense. |
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01-26-2008, 05:28 AM | #10 |
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My friends. We are being raped by BMW Canada. And they can continue doing so because we enable them. If enough Canadians balked at their pricing and said no thanks when talking to a sales associate, you'd see the pricing move in line with the US very quickly. This is entirely the reason that they had to provide some additional incentives when only a minority of buyers began looking to the US for vehicles.
Imagine what they'd do if 33-50% of their traditional buyers said No to a purchase because the pricing was unfair. Folks, it's really up to us to collectively stand up for ourselves. Problem is, there is no coordinated action between possible buyers. And we've shown that we want their cars more than we care about being bent over. Unfortunately, I have been one of these 'sheeps'. I am now beginning to reconsider the 1, however. So if I were BMW Canada, what incentive would I have to lower rates? Lube up my fellow Canadians, bend over and brace yourselves for the humbling to come. PS. I recently spoke to my SA and told him that I was furious at the pricing of the M3 in the US which is about $57k. My 335i with a few options is well over $60k. This type of disparity and humiliation is totally unnecessary with the currency at par. |
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01-28-2008, 02:21 PM | #11 |
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Spoke to my sales today after placing my order.. they dont know the exact rates yet but they are predicting that lease will be 6.9% and finance will be 5.9%.
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01-28-2008, 02:46 PM | #12 |
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01-28-2008, 03:42 PM | #14 |
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01-29-2008, 06:36 PM | #15 |
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6.9%?? I would be very happy if it's the case. But it seems doubtful. If you look at all the top end 3 series, they are all 8.9% lease. Sucks..
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01-31-2008, 12:18 PM | #16 |
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I have an Audi & VW Canada does this thing where customers give a security deposit (fully refundable at the end of the lease) and in exchange VW lowers the interest rate. Does BMW do the same? And would the drop in interest rate be substantial (it was for my Audi)...
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01-31-2008, 12:37 PM | #17 | |
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01-31-2008, 02:32 PM | #19 |
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Right now, the lease rate for the 335i is at 4.9% in Montreal.
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02-27-2008, 12:21 PM | #22 |
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Just got a call from my dealer with the following information
7.75% for both lease and finance 59% residual 128i 57% residual 135i I believe those values are for 36 month lease |
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