If you are in the market to purchase a BMW here are several tips to help you get the most for your money.
1. If possible, try to buy your vehicle from a reputable dealer near the end of the year. November, December, and January are the best months to shop for a new vehicle. This time of year, you can negotiate the lowest price possible, because dealers are willing to offer steep discounts on models of cars not sold from the previous year. Dealers need to make room in their inventory for next years models. For example, you will save thousands of dollars if you buy a 2008 model BMW as opposed to a 2009 model. Both vehicles are brand new and never been driven off the lot, but the former represents last year's inventory.
2. Never finance your new car through a bank. If you don't have cash to pay for your BMW, always finance your car through a credit union to get the best interest rate. Credit Unions are not-for-profit organizations that are sponsored by the members, whereas banks are for-profit. So you will always get a better interest rate when you finance your BMW through a credit union. Always shop around at several credit unions to find out the best interest rate for auto loans, because their rates will vary. Don't be afraid to inquire about memberships with any credit union, because the membership requirements are generally very general these days, so just about anyone can now join any credit union without having to worry about any restrictions.
3. Always comparison shop and get several written quotes from several dealers. You can do this online or in person. For example, suppose Jim's BMW Dealer offered you a 2008 7 Series Active Hybrid BMW for $88,000, and this price was already discounted 10% off from the manufacturer sticker price. So you take this quote into their competitor called Sally's BMW Dealer and ask Sally what she can do for you. Sally see's that she doesn't have the same color that you want, but she is willing to discount this even more down to $78,000. Now you take Sally's quote to Ralph's BMW Dealer and show Ralph what Sally is willing to give you and ask Ralph how he can beat the $78,000 price. The key is to keep your emotions in check. Be patient to shop around and not allow anyone to talk you into signing for the car on the same day that you are negotiating. This will allow you to get the dealers to negotiate as low as possible before you commit to buying your new car.
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Web Designer, Internet Marketing Consultant
2/17/2009
The Best Way To Combat Car Depreciation
The credit crunch has claimed many casualties and threatens to continue for even longer than the government had initially believed. Many industries have been affected, not least the retail industry as people curb their shopping habits and tug on the purse strings. Another industry that has been badly affected has been the car industry.
You only have to click on Google news each morning to read about another car manufacturer having to close their production plants for the next couple of months or having to let go 'x' amount of staff. People just haven't got the confidence to buy brand new cars - there just isn't the demand for them at the moment.
Another factor that puts prospective buyers off purchasing brand new cars is depreciation. The rate that cars, especially brand new cars, depreciate has never been so fast. Brand new cars, in full working order with average yearly mileage can depreciate anything up to 25 per cent after just one year of ownership.
So where do you find value in the purchase of a car? The bottom line is... You very rarely do, unless you look after a car properly, keep it for years, and it becomes a classic. So, if you're looking for a car that is comfortable, practical, stylish, efficient, reliable and holds its value better than most, you couldn't go far wrong than a MINI.
Since BMW purchased Rover and completely revamped the Mini, demand for these loveable hatchbacks has never waned. Also, because of their build quality and timeless style, Mini dealerships continue to perform well, thanks to the popularity of this old British classic, which has been fused with German motoring efficiency and engineering quality, although the newer MINI One has a British built engine.
When the MINI was first released, some fans of the original Mini were disappointed with BMW's end product, mainly due to the increase in size of the MINI (22 inches longer and 12 inches wider than the classic Mini), but also as many purists felt the MINI is just a BMW with a Mini badge on it. And essentially they are correct, but this is by no means a bad thing, unless you're xenophobic.
Since production of the MINI began in 2001, more than one million have been produced and sold in the UK alone - Mini dealerships were inundated with orders for the new MINI, emphasising the fact that whether you love it or loathe it, BMW's decision to design and produce the new MINI has been a success.
A brand new MINI Clubman Cooper S - the latest MINI model - from Mini dealerships costs 17,525 on the road, compared to a one year old MINI Clubman Cooper S with 3,000 miles on the clock available at a Mini dealerships for 16,495 pounds. This is an example of how slowly the MINI depreciates.
In the current used car market, the MINI performs stronger than any other car in the same price bracket in terms of depreciation, just adding to its appeal. At a time where possible car buyers may be hesitant to make a purchase because of the economic downturn, buying a MINI is just about the best car to purchase when taking into account the price tag and recoupable return on that investment when the time comes to sell the car.
About the Author
Shaun Parker is a car expert with many years of experience in the car sales industry. Find out more about Mini dealerships at http://www.coopermini.co.uk
You only have to click on Google news each morning to read about another car manufacturer having to close their production plants for the next couple of months or having to let go 'x' amount of staff. People just haven't got the confidence to buy brand new cars - there just isn't the demand for them at the moment.
Another factor that puts prospective buyers off purchasing brand new cars is depreciation. The rate that cars, especially brand new cars, depreciate has never been so fast. Brand new cars, in full working order with average yearly mileage can depreciate anything up to 25 per cent after just one year of ownership.
So where do you find value in the purchase of a car? The bottom line is... You very rarely do, unless you look after a car properly, keep it for years, and it becomes a classic. So, if you're looking for a car that is comfortable, practical, stylish, efficient, reliable and holds its value better than most, you couldn't go far wrong than a MINI.
Since BMW purchased Rover and completely revamped the Mini, demand for these loveable hatchbacks has never waned. Also, because of their build quality and timeless style, Mini dealerships continue to perform well, thanks to the popularity of this old British classic, which has been fused with German motoring efficiency and engineering quality, although the newer MINI One has a British built engine.
When the MINI was first released, some fans of the original Mini were disappointed with BMW's end product, mainly due to the increase in size of the MINI (22 inches longer and 12 inches wider than the classic Mini), but also as many purists felt the MINI is just a BMW with a Mini badge on it. And essentially they are correct, but this is by no means a bad thing, unless you're xenophobic.
Since production of the MINI began in 2001, more than one million have been produced and sold in the UK alone - Mini dealerships were inundated with orders for the new MINI, emphasising the fact that whether you love it or loathe it, BMW's decision to design and produce the new MINI has been a success.
A brand new MINI Clubman Cooper S - the latest MINI model - from Mini dealerships costs 17,525 on the road, compared to a one year old MINI Clubman Cooper S with 3,000 miles on the clock available at a Mini dealerships for 16,495 pounds. This is an example of how slowly the MINI depreciates.
In the current used car market, the MINI performs stronger than any other car in the same price bracket in terms of depreciation, just adding to its appeal. At a time where possible car buyers may be hesitant to make a purchase because of the economic downturn, buying a MINI is just about the best car to purchase when taking into account the price tag and recoupable return on that investment when the time comes to sell the car.
About the Author
Shaun Parker is a car expert with many years of experience in the car sales industry. Find out more about Mini dealerships at http://www.coopermini.co.uk
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