05-07-2021, 05:37 PM | #1 |
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2,500 miles but new 45e
Interested in a 45e. Located in IL and saw one on a dealer's website that I really liked. The dealer told me the car is "new" since it's never titled but it has 2,500 miles on it and it has an "owner". How exactly does this work? If I were to pull the trigger on this one, how much % off should I be aiming for? MSRP around 84k. Thanks!
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05-07-2021, 06:09 PM | #2 |
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More than likely a loaner, test drive vehicle or manager's car. In normal times you would want to shoot for 15-20% off MSRP as well as get all the incentives. Unfortunately discounts are way down in general so you may end up in the 7-10% range. I personally would stay away from it but my brother bought one last year and they are very happy with it.
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05-07-2021, 06:13 PM | #3 |
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You'd be foregoing the $7,500 tax credit, so you'd need to factor that on top of the value of the vehicle if you are comparing to a new vehicle. Let's say you buy this vehicle brand new and get a conservative 5% off MSRP, you have a loyalty credit ($1K) and APR credit ($2.5K) and federal tax credit ($7.5k). Not factoring in taxes, you'd be at around $69K, if purchased new and financed. This vehicle coming with 2,500 miles means I would need a discount beyond that to stop me from buying new.
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05-07-2021, 06:17 PM | #4 |
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He should be eligible for the tax credit since it is considered a new vehicle. BMW considers the vehicle new if it has less the 5k miles on it so all new car incentives apply as well.
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05-07-2021, 06:29 PM | #5 | |
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05-07-2021, 06:41 PM | #6 |
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Certainly the BMW incentives apply. The tax credit is murkier, but if it has a license plate and has been driven for 2,500 miles, it suggests it has been registered. Talk to a tax accountant.
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05-07-2021, 06:45 PM | #7 |
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Perhaps some states are different but in the majority of them they are not registered and use a dealer plate. The OP should be the first owner of the vehicle in those instances and be eligible for the tax credit. As you said though, bets to check it out beforehand.
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05-07-2021, 06:49 PM | #8 | |
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As an aside, there is no general rule about discounts being higher on lot vehicles. There are many factors but in general discounts are the same. Some dealers offer higher discounts in custom orders and other on lot vehicles.
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05-07-2021, 06:59 PM | #9 | |
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05-07-2021, 07:02 PM | #10 |
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If you are not pressed to get a new one soon then waiting is what I recommend.
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05-08-2021, 08:51 AM | #11 | |
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05-08-2021, 12:41 PM | #12 | |
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05-11-2021, 12:28 PM | #13 |
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You are right. Its a bad deal. I got mine around 13K off MSRP. Plus 20K trade in value on my 14 MDX with 67K miles. But if you have read my threads, I am "Returning" the car to the dealer when my M50i arrive this month or early June.
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