QUOTE FROM AUTO SPIES:
If you’re buying the line that 7’s are hard to come by an orders are outstripping the supply, don’t believe it.
The spies went out on a mission with our handy “Auto Spies BS decoder” and uncovered the fact that not only are sales of the new seven slow, but massive inventories are building up at BMW dealers (see pictures above).
And the 2003 7’s are just around the corner…
So BMW just announced to their dealers, an aggressive lease program on 2002 7’s.
Here’s how the deal shakes out…
2002 740i [[typo?? I think they meant the 745i]] (MSRP of around $70K) $799 for 36 months with around $4K of drive offs… This number is based on a selling price of the car at $2500 over invoice (trust us, you can get this car for between invoice and $500 over if you make some calls and do your homework). That would mean you could get the $799 car for even less…
Our advice is to find a dealer who has a lot of them in stock and grind them..(We found over 30 7’s on the ground at Irvine BMW)
To put this in perspective, we chatted with owners who leased the SAME car before this program started, who are paying $1250 per month for the same lease!
How do you think these owners are going to feel when they find out that if they had just listened to the Spies, they could have been saving over $450 per month!
That’s $16K over the full term of the lease!
OUCH!
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2002 BMW 7's getting 'low balled' on wholesale market .. Resale value of new body style in the tank ..
A quick survey of BMW dealers by the Spies uncovered extremely weak resale values of the new 7-series.
Based on random calls to our 'in the know' wholesalers and BMW dealer GM's, a 2002 seven series with an original MSRP of $75K, is only bringing around $62K wholesale.
What this means to you the consumer is, if you had or have bought one and want to dump it or trade it in on another car, you can only expect to get a number in the low sixties.
Which means you are probably $12-15K underwater on your 745...
Brutal!
7 series in trouble..
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Q45tech
- Moderator
- Posts: 14365
- Joined: Tue Apr 30, 2002 3:19 am
- Car: 1990 Q45 342,400 miles 22 years ownership with original engine
1995 G20t 5 speed 334,000 miles 16" 2002 wheels - 205/50/16 Sr20ve vvl
Why would this surprise anyone since the MSRP includes a 15% markup over dealer cost [after the withhold]. I'm surprised they are worth that much 100 miles after the drive out! Usually only 80% of MSRP ~~~$57k wholesale and 50% [$37k] by 3 years regardless of what the inflated lease buyout says....fair retail on a 1999 740 [45,000 miles] is only $35-36k today and trade in is only $32k
Think about what the M45 will do to the used Lux market when a 3 year old low mile version sells for $22,000 in 2005 vs a LS430 at 33,500.........Lexus has creeped up to within $2-3k of BMW flagship.
Think about what the M45 will do to the used Lux market when a 3 year old low mile version sells for $22,000 in 2005 vs a LS430 at 33,500.........Lexus has creeped up to within $2-3k of BMW flagship.
Lexus and Infiniti offer reliability and dependability that BMW can't match. I shouldn't even mention MB. Their reliability tanked and service spending tripled.
I love my 2002 Q Premium. Got a fantastic deal on the car and an insane deal on the lease.
Can't wait for the 2003 model. The first one that hits a showroom is MINE, all mine!!
I love my 2002 Q Premium. Got a fantastic deal on the car and an insane deal on the lease.
Can't wait for the 2003 model. The first one that hits a showroom is MINE, all mine!!
It gets worse:
http://www.imakenews.com/autospies/e_ar ... 093682.cfm - Full story here.
New BMW 745i's and Li's for $5K BELOW invoice!
During the past few months since the introduction of the Seven series, the Spies have been very critical of the design and initial build problems. We were one of the only magazines (print or internet) to uncover the truth in order to protect you and save you time and money.
Of course you already know, “That’s our bag, Baby”!
The good news is the problems are getting rectified for customers in most cases and with these new aggressive lease prices, we can get over our aesthetic issues with the car because it drives so well.
We’re so impressed at these numbers that 001 has LEASED a 745Li for $829 per month with NO cap reduction and NO drive offs (except first lease payment), CA tax (7.75%) included in the payment!
If I would have taken the 745i with less options, I could have gotten the payment down to $699!
We’ll show YOU how to do it later in the article.
No, you are not going blind…even with all the criticism we’ve leveled at the car, the current deals are unbeatable and it’s the best DRIVING car of all the luxury sedans. We can highly recommend that you consider purchasing one if you are in the market for a luxury sedan, but ONLY if you get it for the right price.
To get the details on the killer deal we found see below:
Let’s start back at the beginning…
As reported told you last week, the new aggressive BMW 7 lease program has been officially confirmed by various BMW contacts throughout the country.
The deal is 745i base model, MSRP around $71K, $799 per month (36 months) plus tax and $3500 cap reduction.
A pretty good deal at those numbers considering, a lowly MB S430 will run you about $1K per month in the same scenario.
Or look at it this way, you can lease a 745i for less than the new E320!
With interest rates at all time lows, MB is still sticking it to customers with very uncompetitive lease factors.
As we said, $799 plus is good deal for the 745i (sorry to all the 745i beta-testers who got hosed in the beginning for around $1100-$1400 per month for the same ride).
But we’re the Auto Spies…unequaled by any other magazine or website because we uncover the BEST deal for our readers.
So, courtesy of your friendly neighborhood Auto Spies, we bring you the deal of the century on the seven series.
We know what you’re thinking at this point…”How do I get one for $5K UNDER invoice”?
August 1st, BMWNA offered their dealers the opportunity to buy 2 or up to 4 745 service loaner cars (depending on the size of the dealer and how many units they move per month) for $8K BELOW invoice. The reason they did this was customers were getting fried because of all the niggling problems and recalls with the car. So they felt guilty, because customers were complaining that while the car was locked up for service and software upgrades, they had to drive a crappy loaner car.
Most of the large dealers took advantage of the program (what a no-brainer) and purchased the maximum amount of cars that they could.
A lot of dealers SAID they would use it for a loaner but we’ve heard the dealership owners are using at least one for themselves.
They now have the option to sell the cars, (they’ll tell you they have to wait 90 days from August 1 to do it, but we know otherwise) and our suggestion is to get on the phone to you local dealer and ask him or her if they’re willing to sell one to you for $5K under. The only catch is the cars will have a few miles on them depending on who long they have been used.
Most of the cars we called on that were in this program were 745i's.
That's not to say that you can't do a deal on an Li like this, it's just harder to find one.
It’s a good deal for them…$3K profit and a good deal for you.
One other thing, some dealers will take a NEW car off the floor and run it through the program to resell it to you. That means a car with no miles on it!
Here’s a snapshot of 001’s deal…A 745Li (I like the long wheelbase car not only for the room but it has more chrome enhancements on the car…front and rear bumpers, so we think it looks better than the i) Titanium silver with black interior (best for resale) Luxury seat package, convenience package, premium sound, 19” wheels, park distance control and power sunshades.
MSRP: $79,645Selling price $67,700 (No, not a misprint, invoice minus $5K)Lease term 36 months, 12K milesMoney factor .00195 or 4.8%All taxes/fees rolled inMonthly payment $829.00
http://www.imakenews.com/autospies/e_ar ... 093682.cfm - Full story here.
New BMW 745i's and Li's for $5K BELOW invoice!
During the past few months since the introduction of the Seven series, the Spies have been very critical of the design and initial build problems. We were one of the only magazines (print or internet) to uncover the truth in order to protect you and save you time and money.
Of course you already know, “That’s our bag, Baby”!
The good news is the problems are getting rectified for customers in most cases and with these new aggressive lease prices, we can get over our aesthetic issues with the car because it drives so well.
We’re so impressed at these numbers that 001 has LEASED a 745Li for $829 per month with NO cap reduction and NO drive offs (except first lease payment), CA tax (7.75%) included in the payment!
If I would have taken the 745i with less options, I could have gotten the payment down to $699!
We’ll show YOU how to do it later in the article.
No, you are not going blind…even with all the criticism we’ve leveled at the car, the current deals are unbeatable and it’s the best DRIVING car of all the luxury sedans. We can highly recommend that you consider purchasing one if you are in the market for a luxury sedan, but ONLY if you get it for the right price.
To get the details on the killer deal we found see below:
Let’s start back at the beginning…
As reported told you last week, the new aggressive BMW 7 lease program has been officially confirmed by various BMW contacts throughout the country.
The deal is 745i base model, MSRP around $71K, $799 per month (36 months) plus tax and $3500 cap reduction.
A pretty good deal at those numbers considering, a lowly MB S430 will run you about $1K per month in the same scenario.
Or look at it this way, you can lease a 745i for less than the new E320!
With interest rates at all time lows, MB is still sticking it to customers with very uncompetitive lease factors.
As we said, $799 plus is good deal for the 745i (sorry to all the 745i beta-testers who got hosed in the beginning for around $1100-$1400 per month for the same ride).
But we’re the Auto Spies…unequaled by any other magazine or website because we uncover the BEST deal for our readers.
So, courtesy of your friendly neighborhood Auto Spies, we bring you the deal of the century on the seven series.
We know what you’re thinking at this point…”How do I get one for $5K UNDER invoice”?
August 1st, BMWNA offered their dealers the opportunity to buy 2 or up to 4 745 service loaner cars (depending on the size of the dealer and how many units they move per month) for $8K BELOW invoice. The reason they did this was customers were getting fried because of all the niggling problems and recalls with the car. So they felt guilty, because customers were complaining that while the car was locked up for service and software upgrades, they had to drive a crappy loaner car.
Most of the large dealers took advantage of the program (what a no-brainer) and purchased the maximum amount of cars that they could.
A lot of dealers SAID they would use it for a loaner but we’ve heard the dealership owners are using at least one for themselves.
They now have the option to sell the cars, (they’ll tell you they have to wait 90 days from August 1 to do it, but we know otherwise) and our suggestion is to get on the phone to you local dealer and ask him or her if they’re willing to sell one to you for $5K under. The only catch is the cars will have a few miles on them depending on who long they have been used.
Most of the cars we called on that were in this program were 745i's.
That's not to say that you can't do a deal on an Li like this, it's just harder to find one.
It’s a good deal for them…$3K profit and a good deal for you.
One other thing, some dealers will take a NEW car off the floor and run it through the program to resell it to you. That means a car with no miles on it!
Here’s a snapshot of 001’s deal…A 745Li (I like the long wheelbase car not only for the room but it has more chrome enhancements on the car…front and rear bumpers, so we think it looks better than the i) Titanium silver with black interior (best for resale) Luxury seat package, convenience package, premium sound, 19” wheels, park distance control and power sunshades.
MSRP: $79,645Selling price $67,700 (No, not a misprint, invoice minus $5K)Lease term 36 months, 12K milesMoney factor .00195 or 4.8%All taxes/fees rolled inMonthly payment $829.00
And worse:
Heroes and Zeros - http://www.imakenews.com/autospies/e_ar ... 093702.cfm
BMW 7-series 'buybacks' showing up on Ebay
One dealer has the integrity to put it up front
We were alerted this week by one of our Spies to a BMW 745i on Ebay, that actually discloses the fact that it was a car that was bought back by BMW.
Here is what the disclosure states: This vehicle, was purchased by BMW as a goodwill buy-back. All of the work has been completed to correct the original complaint:
Click here to see the full ebay ad
Heroes and Zeros - http://www.imakenews.com/autospies/e_ar ... 093702.cfm
BMW 7-series 'buybacks' showing up on Ebay
One dealer has the integrity to put it up front
We were alerted this week by one of our Spies to a BMW 745i on Ebay, that actually discloses the fact that it was a car that was bought back by BMW.
Here is what the disclosure states: This vehicle, was purchased by BMW as a goodwill buy-back. All of the work has been completed to correct the original complaint:
Click here to see the full ebay ad
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greg_atlanta
- Posts: 1110
- Joined: Tue Jul 23, 2002 4:37 pm
- Car: 2008 G35 Journey Sedan, silver/black (no sunroof), 1992 Q45 (in a past life)
Same problem that affects new Q45.... high tech gadgets don't sell cars!!!
The target market for the large lux market (age 50 and up, usually) does not want to put up with too many gizmos. Sure, the LS430 and S-class have plenty of toys, but the features are more discreet.
Performance doesn't sell either.
Time for the engineers to listen to the market.
The target market for the large lux market (age 50 and up, usually) does not want to put up with too many gizmos. Sure, the LS430 and S-class have plenty of toys, but the features are more discreet.
Performance doesn't sell either.
Time for the engineers to listen to the market.
Infiniti obviously did a great job with the tech in the Q.
The 7 series has had 8 recalls since it came out:
2 for the navigation system.1 for the cooling system.1 for the tires.1 for the brake lights.2 for the ECM.1 for the ignition system.
Plus the numerous customer complaints about the Idrive. Source: NTSHA auto recall database
I'm sorry 8 recalls like these for a car with a 70-80K sticker price is unacceptable. The 7 series is turning into a distaster under the sheetmetal.
The 7 series has had 8 recalls since it came out:
2 for the navigation system.1 for the cooling system.1 for the tires.1 for the brake lights.2 for the ECM.1 for the ignition system.
Plus the numerous customer complaints about the Idrive. Source: NTSHA auto recall database
I'm sorry 8 recalls like these for a car with a 70-80K sticker price is unacceptable. The 7 series is turning into a distaster under the sheetmetal.
Took a drive on Saturday to spend the day in Santa Barbara with my girl. Along the way we passed a brand new 7-series being loaded onto the back of a truck on the side of the road. No sign at all of an accident. The car still had the temporary paper tags. I wondered what happened, then this post came out. What are the odds?
Greg.. High tech gadgets don't sell cars? Well then, might as well remove that DVD navigation system from the LS430, drop the anti-lock mechanism from the brakes, throw out the AC, lose the heated seats, convert the HID headlights to halogen, remove the air-bags, put an Optimus radio, 1 speaker, instead of the 11 speaker Mark Levinson, and try to sell the LS430 without the gadgets. See how well it sells.
Performance doesn't sell? Well then, might as well put a 4-cyl engine (from the Corolla?) into the LS (making it the LS180?) and see how well it sells. Why do you think all the new big luxo sedans are pushing the 300-400 HP envelope now (MB, Audi, VW)?
The 7 series would have done very well had it not been missing a shift knob. Also, had it not have so many problems out the door. It's a very nice car on the outside. Buick-like on the inside (bleh). The iDrive is a toy. And the reliability a joke.
Performance doesn't sell? Well then, might as well put a 4-cyl engine (from the Corolla?) into the LS (making it the LS180?) and see how well it sells. Why do you think all the new big luxo sedans are pushing the 300-400 HP envelope now (MB, Audi, VW)?
The 7 series would have done very well had it not been missing a shift knob. Also, had it not have so many problems out the door. It's a very nice car on the outside. Buick-like on the inside (bleh). The iDrive is a toy. And the reliability a joke.
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