Quote:
Originally Posted by rockhead
How was your experience using a broker? I'm curious whether I should have considered that route. Savings on the cost or hassle factor, or both?
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So far the experience has been great. In regards to the hassle factor, huge savings there! I basically configured what I wanted on BMW's site, and then sent the build code to the broker. I then spoke directly with them and reviewed my order. He had some questions and suggestions about my order, which was nice to get some outside input. I had some questions related to the Federal Tax credit on the 45e (whether or not it would apply to a lease) and the broker was happy to look into that for me with his rep. He initially checked what was available in dealer stock, but could not locate anything close to my build so we ended up placing the custom order.
In regards to the cost factor, the broker got me 6.3% off before any incentives. After applying $3500 finance & loyalty credit the savings add up to 10.4% off. I also just asked the broker to see if I could take advantage of the Test Drive to End Hunger promotion for an additional $1000 off (no answer on that one yet).
Post sale, I will also be able to get the $1000 BMW CCA rebate, plus the $7500 federal tax credit. It all adds up to 20.4% off MSRP (not including the test drive promo). I do have to pay the broker $395 for their service, so deduct that and the savings is a little less than 20%.
Of course, I have not taken delivery yet so the final verdict is still not in...
And full disclosure: I also emailed several dealerships in WA and OR to see if I could get a better deal, and none were able to come close to the broker. I also did not attempt to further negotiate with the broker based on my comparison shopping.