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Originally Posted by floating.spirit
Quote:
Originally Posted by beammeupscottie
Quote:
Originally Posted by noushy
You may be right the miles are close to a wash. Next time I need to see what your dealer offers before I close my deal. I got about 4.5% off but the dealership loyalty program in essence gave me almost $3000 more so in this setting I still came out ahead with no money out of pocket. Thanks for all your help btw. Enlightened me on the money factor part. Never knew the dealer can and does pad that.
Noushy
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No prob I follow you all here also and get good insights...sales centers are one of the greediest organizations on the planet; in the top 5 anyway....padding the MF for added profit is gross
....they're already getting a kick back at .00145 and even @ invoice they have a hold back....technically squabbling over 4-6% off MSRP is actually barely "fair" to loyal buyers like you and most of us...my sales advisor sent this screen shot that has a "max mark up" to the money factor on it....don't think he meant to send that screen... .00040 max mark up...so if you add that to the .00145 that comes to .00185 which is about 4.44% int on money borrowed vs .00145 which is 3.48% on money borrowed; makes a difference you can certainly feel....of course it all depends on your credit rating also; some have been known to pad even with their "super elite" tier - you just have to be aware and read every stitch of paperwork and they have to disclose how they graded you for credit worthiness and where you fit into their tiered system. Most don't ask and get taken for a literal ride.....pay it forward. |
If I follow correctly, the base money factor circled in the screenshot is labeled FS Rate. What's "FS" stand for? |
I believe it's "Financial Services" as in BMWFS rate; or the lowest rate from the BMW financing company that is offered to the lessee; and they (Financial Services) allow the sales center to Mark up the rate up to the amount in the circle ⭕️ to the right; at the discretion of the sales center....