07-01-2019, 12:13 PM | #1 |
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60 days on the lot. Don't buy?
So I saw car I wanted and seems like it's been on the lot for 60 days and I'm sure this long time.
Is something like this to avoid as it seems either dealer has some firm price that's not being met or people saw some issue with it https://www.bmwseattle.com/certified...d8b72327d2.htm Price slowly goes down (not drastically ) but does have options I want and is 3500 rebate if financing via bmw at 3.1% which seems bit high Anyways is there rule of thumb for cars staying x amount of days on the lot? |
07-01-2019, 12:24 PM | #2 |
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60 days on the lot doesn’t mean there’s something wrong with it, its a Certified unit so that means everything had to be checked and logged. Price might be a little higher for the Certification but its worth it, and as far as 3.1% interest doesn’t seem high for me but check local credit unions, being a Certified unit BMW Financial might be the best way.
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07-01-2019, 12:28 PM | #3 |
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I got 2.99% from my dealer, which isn’t available in many regions, but 3.1% sounds pretty good to me.
When I shopped other loans the best I could find was 3.49% from Bank of America, where I have accounts. This was in early to mid May. |
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07-01-2019, 12:28 PM | #4 |
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What about 69 days in the lot that's long
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07-01-2019, 12:28 PM | #5 | |
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Unless it has crossed model years, I see no reason with being cautious about buying aged inventory. In actuality, I would probably prefer it, as there is a better chance of a discount, since floorplan is probably starting to impact it after certain time periods. As of Q1, 2019 (Q2 data not yet available), the national average CPO inventory turnover ratio for all dealerships in the USA was 54 days. So this car you are looking at isn't exactly old - it's only about a week longer than average. With respect to the rate, national average right now on new cars is 3.5%. Used and CPO was 4.25%.
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07-01-2019, 12:30 PM | #6 | |
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I don’t know how that price compares with a build-to-order, but my guess is that you can get them down at least a few thousand, particularly if you take their financing and the incentive that is included ($2,000). |
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07-01-2019, 12:35 PM | #7 | |
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07-01-2019, 12:38 PM | #8 | ||
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Where did you find the 54 day average seems like 60 day isn't too bad then As for the 3.1% they are offer king 3500 rebate too as it's a loaner car which counts as new car incentive according to them |
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07-01-2019, 12:39 PM | #9 | ||
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Not sure if it's cause month of July |
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07-01-2019, 12:42 PM | #10 | ||
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07-01-2019, 12:44 PM | #11 | |
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If it's a loaner car - then that 100% explains why it is still there. Most OEM's give the dealership additional Factory to Dealer incentives to put cars in loaner car status and one of the caveats is that it must stay in loaner status for 'X' days. Usually it is 6 months. So for this to only be 60 days old, that is no issue at all. Also, if it is a true loaner and has yet to be titled, then you lose no warranty on the car. The warranty doesn't start till you buy it.
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07-01-2019, 12:53 PM | #12 | ||
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Either way just glad it's not too long. Guess the one that was sold within 3 days was people wanting super deal. It's nice to see someone who go the inside scoop and experience in this field giving average joes useful info As for warranty I think it's still same cpo Other question is the loaner car status (guess fleet ownership) if it's around 7k miles and let say people spend 100 miles a day for one driver, that means like 70 people drove this around and I'm sure some were reckless etc I'm sure numbers are wrong but I'm certain many used it. I'll check the car out tonight possible and just see scratches dings as it anal about things like this |
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07-01-2019, 01:04 PM | #13 | |
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The basic answer to your question is 'it varies'. Bottom line is that the car in question should not be looked at in a negative light based solely on days in inventory. There are many reasons for this to occur. With respect to many people driving it as a loaner - this has contention between various parties. Some folks think it isn't a bit deal while others think it's a deal breaker. It's up to you. Personally - I doubt many, if any, folks who drove the car as a loaner did any hotrodding or other things while in it. Some might have taken less care with respect to keeping it clean and tidy or where they parked, et al. So long as it is in cosmetically good condition, and it is a reasonable price, I wouldn't hesitate to buy the car.
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07-01-2019, 01:08 PM | #14 | ||
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As for the 2018 and 2019 model I noticed there isn't much difference. Is it advice that I get 2019 since this will increase the warranty in terms of remaining years but not mileage. Considering I know I won't be driving much per year |
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07-01-2019, 01:12 PM | #15 | |
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07-01-2019, 01:30 PM | #16 | ||
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It's listed around 43,888 I believe and since they will take 3500 from July rebate if signing up for 3.1 apr through them will be 40,044 I think that's how it works, any suggestion on what to offer them? (Even percentage off would be good so I don't feel cheated) The dealership is known to have pretty good rating here |
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07-01-2019, 01:33 PM | #17 | |
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07-01-2019, 01:35 PM | #18 | ||
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You don't work for bmw Seattle do you |
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07-01-2019, 02:21 PM | #19 |
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This car is definitely a loaner. When BMW Seattle has a price that ends in 888, they feel that they have discounted as low as they will go. Seems like a reasonable car at a reasonable price. Good luck.
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07-01-2019, 02:37 PM | #20 |
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First off, I was thinking who is this guy, he seems to know a lot. Then saw your rep and realized ok he does lol. And I appreciate your detail thoroughness dont know how much I been trying to get this type of response
What do you mean by holdback? And how did you find $44,060 invoice for the dealer? And dealer fees, what is the average would you say. Seems I'ts big chunk The rebate for month of July was 3500 not 3000 if financing via bmw at 3.1% (which I'll do downpayment of 12k). So basically subtract 500 from your suggestion right? So from $41,390 to 40,890 for lowest offer and from $42,560 to *42,060 from a $43,888 msrp Guess this is why BMW total sales got up due to the fact the loaner cars subsidy increased right? Your like the inside scoop of car dealers and bringing average joes good information. Praise to you! |
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07-01-2019, 02:42 PM | #21 |
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The numbers you provided, Is safe to tell dealer that a bmw guru who has bmw m logo tattoed on his hands provided these numbers and start low and work my way up to your highest asking price?
I'm guessing phone and text is not a good idea but heard modern times many do text nowadays (even car sellers sometimes sell online and deliver lol) crazy times |
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07-01-2019, 02:58 PM | #22 | |
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