06-19-2019, 08:52 PM | #1 |
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General car buying questions
Hi everyone. I already had a discussion with my local dealer about the discount that I would likely get for G05 2019MY (because of Tartufo). I want to get some inputs from you guys on the other things (i.e. fees, service packages, etc.) that the dealer could charge me so that I can determine whether or not they're playing number games with me.
--The dealer does not know that I plan to trade in my 2014 car with about 25,000 miles. I will inform the salesperson once the final price of the car is agreed by both parties. --Will not receive BMW loyalty discount. --Will sign up BMWCCA and become a member soon. As far as I know, some of the fees are as follows: --NY state inspection fee (this is standard) --Dealer fee for processing application --NYS tire recycling fee (this is standard) --Registration fee and title fee for a new plate in NYC (Don't want to keep the existing plate) --Financing fee; I believe the amount varies depending on how much I will borrow. Other items are as follows: --NY sales tax of 8.875% (ouch) --They will sell me tint, wrap, maintenance plans, extended warranty, and what else? I'm pretty sure that I will pass most of them. What am I missing? Thanks |
06-20-2019, 07:43 AM | #2 |
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Looks like you have the usual ones covered. Make sure they list all fees and taxes when you are working on the pricing and make sure all of them seem reasonable.
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06-20-2019, 07:51 AM | #3 |
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Drives: x5 40i 2019
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Location: Rural Eastern MD (Eastern Shore/Delmarva)
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2011 Toyota Highlander [0.00] 1998 Plymouth voyager [0.00] 2019 X5 40i [0.00] |
Here are the fees I paid. Delaware dealer, I am a Maryland resident.
Picked up the car June 7. |
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06-20-2019, 07:52 AM | #4 |
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Drives: x5 40i 2019
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Sorry ...
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06-20-2019, 08:23 AM | #6 |
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I've never heard of most of these "fees"....
Fees on my transaction last month: Dealer fees: $199.00 DMV fees: Title doc. $5.50 License transfer fee $10.50 State sales tax $1,311.90 Local taxes 853.90 I remember "Fees" being higher when I lived in Chicago, but nothing like was listed here. |
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06-20-2019, 08:32 AM | #7 |
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06-21-2019, 09:21 PM | #8 |
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Hey guys. I notice some folks here had to pay a hefty financing cost. If so, the negotiated discount off msrp + rebate and etc are just netting off this financing cost. How is a deal a good deal if financing cost is like above $5000 but below $10k? How does BMW FS calculate the financing cost? The amount you borrow and a fixed percentage?
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06-21-2019, 09:43 PM | #9 |
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Drives: x5 40i 2019
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2011 Toyota Highlander [0.00] 1998 Plymouth voyager [0.00] 2019 X5 40i [0.00] |
It is a simple interest loan. Mine is 2.99%. You pay that rate on what you owe. With every payment, what you owe is less. If you pay extra, your total interest paid at the end of the loan is less $$$. I am doing that - I rounded the payment up to an even number to make it easier to manage my bank account.
I plan to trade after four years. With the extra payments, I will owe a lot less at four years (5-year loan), giving me more equity when I trade or sell the car. My total interest paid should be substantially less than the $5,000+ shown in my finance contract. Borrowing from BMW also gives you a $2,000 rebate. You only have to make four payments, I think, then you can pay off the loan any time you want. So I think a lot of people finance to get the discount. Keep in mind the loan includes the state sales tax and other fees. You can pay those separately if you want, tho. |
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06-22-2019, 05:10 AM | #10 | |
Retired soccer mom
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Drives: x5 40i 2019
Join Date: May 2019
Location: Rural Eastern MD (Eastern Shore/Delmarva)
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Garage List 1998 Jeep Cherokee ... [0.00]
2011 Toyota Highlander [0.00] 1998 Plymouth voyager [0.00] 2019 X5 40i [0.00] |
Quote:
I offered to take the registration into a MD DMV myself to get the Chesapeake tags, but they said they had to do that by law. The dealer is in Delaware. My husband went with me to sign the papers - he had to drive me there. We asked what each one is for - I can’t recall all the info, but it was fairly straightforward. Last edited by natahoa; 06-22-2019 at 05:15 AM.. |
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