Owner's Choice with Flex terms

[karupspc]

Curious as to the duration for those who selected Owner's Choice with Flex. Are you going with 36 months?

My dealership is quoting me using OCF and $4734 due at signing on 36 months payment would be $549.
I'm not too keen on owing BMW the $7500 on top of $4734 down payment.

What are you thoughts?

 

[stumbledotcom]

The $7500 balloon payment is a mechanism for getting the federal tax credit when you take delivery of the vehicle. The presumption is that you'll hand over the $7500 to BMW Financial as soon as next year's tax refund arrives. If you don't want to get into that, go with regular Owner's Choice or some other financing.

 

[Mike74jcw]

Are you sure those are the correct numbers for the OCwF plan? What version are you getting and what is the MSRP? They sound like the numbers given on the BMWUSA website for a REx LEASE rather than one of the OC plans. With a lease, BMW does not give you the full $7500 but only $4xxx instead.

I was quoted $591 for 36 months, $560 for 48 months, and $524 for 60 months using OCwF, no money out of pocket for a base REx $47,025 discounted down to $44,733 and including my state's sales tax (4.05%) and $275 in fees. Total out the door: $46,912. With money down, the monthly payment can easily drop down into the $400s. Of course, you have to pay back the $7500 to BMW anytime before the end of the term.

 

[Deep]

@Mike74jcw You mentioned you got a discount around $2000. Do you have any tips on how to get that. I've dealt with a few dealerships over here in SC and NC but none of them seem to be willing to discount more than $1000.

 

[Mike74jcw]

@Mike74jcw You mentioned you got a discount around $2000. Do you have any tips on how to get that. I've dealt with a few dealerships over here in SC and NC but none of them seem to be willing to discount more than $1000.

NC and PA are two of the four states where Owner's Choice with and without Flex is NOT available from BMW so I stopped looking for an i3 in those states....I only will consider VA (my state), MD, and maybe a few others. It IS still available in SC, however.

Hmmm, good question, but the dealers in MD and VA that I have been in touch with seem to be offering discounts without any effort on my part because they have more than 1 in stock and some might have been on the lot for a little while now.

Just ask them "what is the current selling price?" or "what is your best price?" or make an offer to suit your budget as each i3 has at least a few thousand dollars in markup built into the MSRP.

Try to find a dealer that has several i3 either on the lot or incoming.

Hit them up for a discount toward the end of the month as they will be more willing to deal to try to make sales quotas.

 

[Deep]

Thanks @Mike74jcw. I'm fortunate to only live a few miles from the SC border, so I plan on purchasing my i3 in Columbia, SC in order to get the Owner's Choice w/Flex. All of the dealerships in this area seem to only have one i3 in stock and use that as justification for not discounting the ordering of a new one. I highest I've been able to get the dealership to discount has been $1500, so it sounds like I'm right in line with what others have been seeing.

One perk I've also been offered is for the Columbia, SC dealership to pay for 1 night stay, dinner, and the BMW experience at the factory in Spartanburg, SC. There I'd be able to learn the ins and outs of how they make it, how to maximize its use, and even test drive a few others. So if I can get this same dealership to give me a $1500-2k discount, then my order will be placed!

 

[Gonville]

The i3 is made in Germany so I don't think you'll see that at Spartanburg.

Has to come all the way on a ship for East Coast.

;-)

The premium manufacturer in recent weeks has raised daily output to 100 vehicles from 70 previously at the factory in Leipzig, Germany, where the model is assembled

 

[Deep]

Sorry, I didn't mean to imply they make the i3 there. See the link below:

https://www.bmwusfactory.com/bmw_videos/ultimate-bmw-experience/

 

[francisB]

Auto dealer loan markups cost Americans more than $25.8 billion dollars each year. These interest rate hikes happen when a dealer subjectively steers a car buyer into a higher interest rate than the one they actually qualified for. These windfall profits are known across the industry as the “dealer reserve” and they can unnecessarily add hundreds of dollars more to cost of your car loan.

 

[jtoast]

One perk I've also been offered is for the Columbia, SC dealership to pay for 1 night stay, dinner, and the BMW experience at the factory in Spartanburg, SC. There I'd be able to learn the ins and outs of how they make it, how to maximize its use, and even test drive a few others. So if I can get this same dealership to give me a $1500-2k discount, then my order will be placed!

Thats already free if you want it. The dealer isn't throwing anything in. It's called "Performance Center Delivery" and the cost is covered by the standard Delivery fee you are already paying. More details at the link below.

http://www.bmwblog.com/2010/11/08/exclusive-first-hand-experience-of-bmws-performance-center-delivery-program/

 

[Deep]

I had no idea it's included. Thanks JToast!

 

[jtoast]

It's available, not included. You have to specify Performance Center Delivery as an option in the order.

 

[Zzzoom3]

Are you sure those are the correct numbers for the OCwF plan? What version are you getting and what is the MSRP? They sound like the numbers given on the BMWUSA website for a REx LEASE rather than one of the OC plans. With a lease, BMW does not give you the full $7500 but only $4xxx instead.

I was quoted $591 for 36 months, $560 for 48 months, and $524 for 60 months using OCwF, no money out of pocket for a base REx $47,025 discounted down to $44,733 and including my state's sales tax (4.05%) and $275 in fees. Total out the door: $46,912. With money down, the monthly payment can easily drop down into the $400s. Of course, you have to pay back the $7500 to BMW anytime before the end of the term.

Hey that's a good deal. Does that price include your options? I couldn't get them to move but $600 here in CA.

Congrats, I see the Torrens is due into New Jersey on 7/23! Look forward to the 1st drive report

 

[Deep]

Just an update. I placed my i3 order successfully in a different state than I reside, using the Owner's Choice with Flex. I was even able to get them to discount it $2000. This BMW dealership is in a very small market (Columbia, SC) so perhaps they are able to do more than larger dealerships.