How to buy a new 745iL for $5,000 UNDER invoice!
09/16/2002 08:54:18 PM
I don't take credit for this...it comes from Auto Spies
During the past few months since the introduction of the Seven series, the Spies have been very critical of the design and initial build problems. We were one of the only magazines (print or internet) to uncover the truth in order to protect you and save you time and money.
Of course you already know, “That’s our bag, Baby”!
The good news is the problems are getting rectified for customers in most cases and with these new aggressive lease prices, we can getover our aesthetic issues with the car because it drives so well.
We’re so impressed at these numbers that 001 has LEASED a 745Li for $829 per month with NO cap reduction and NO drive offs (except first lease payment), CA tax (7.75%) included in the payment!
If I would have taken the 745i with less options, I could have gotten the payment down to $699!
We’ll show YOU how to do it later in the article.
No, you are not going blind…even with all the criticism we’ve leveled at the car, the current deals are unbeatable and it’s the best DRIVING car of all the luxury sedans. We can highly recommend that you consider purchasing one if you are in the market for a luxury sedan, but ONLY if you get it for the right price.
To get the details on the killer deal we found see below:
Let’s start back at the beginning…
As reported told you last week, the new aggressive BMW 7 lease program has been officially confirmed by various BMW contacts throughout the country.
The deal is 745i base model, MSRP around $71K, $799 per month (36 months) plus tax and $3500 cap reduction.
A pretty good deal at those numbers considering, a lowly MB S430 will run you about $1K per month in the same scenario.
Or look at it this way, you can lease a 745i for less than the new E320!
With interest rates at all time lows, MB is still sticking it to customers with very uncompetitive lease factors.
As we said, $799 plus is good deal for the 745i (sorry to all the 745i beta-testers who got hosed in the beginning for around $1100-$1400 per month for the same ride).
But we’re the Auto Spies…unequaled by any other magazine or website because we uncover the BEST deal for our readers.
So, courtesy of your friendly neighborhood Auto Spies, we bring you the deal of the century on the seven series.
We know what you’re thinking at this point…”How do I get one for $5K UNDER invoice”?
August 1st, BMWNA offered their dealers the opportunity to buy 2 or up to 4 745 service loaner cars (depending on the size of the dealer and how many units they move per month) for $8K BELOW invoice. The reason they did this was customers were getting fried because of all the niggling problems and recalls with the car. So they felt guilty, because customers were complaining that while the car was locked up for service and software upgrades, they had to drive a crappy loaner car.
Most of the large dealers took advantage of the program (what a no-brainer) and purchased the maximum amount of cars that they could.
A lot of dealers SAID they would use it for a loaner but we’ve heard the dealership owners are using at least one for themselves.
They now have the option to sell the cars, (they’ll tell you they have to wait 90 days from August 1 to do it, but we know otherwise) and our suggestion is to get on the phone to you local dealer and ask him or her if they’re willing to sell one to you for $5K under. The only catch is the cars will have a few miles on them depending on who long they have been used.
Most of the cars we called on that were in this program were 745i's.
That's not to say that you can't do a deal on an Li like this, it's just harder to find one.
It’s a good deal for them…$3K profit and a good deal for you.
One other thing, some dealers will take a NEW car off the floor and run it through the program to resell it to you. That means a car with no miles on it!
Here’s a snapshot of 001’s deal…A 745Li (I like the long wheelbase car not only for the room but it has more chrome enhancements on the car…front and rear bumpers, so we think it looks better than the i) Titanium silver with black interior (best for resale) Luxury seat package, convenience package, premium sound, 19” wheels, park distance control and power sunshades.
Selling price $67,700 (No, not a misprint, invoice minus
Lease term 36 months, 12K miles
Money factor.00195 or 4.8%
All taxes/fees rolled in
Monthly payment $829.00