New Car Deals during COVID-19?

aquabliss

Well-known member
Anyone been new car shopping lately?  Based on the videos I'm seeing on YouTube, the dealers are anxious to turn *ANY* inventory (new and used) they have on the lot into $Cash$ right now and people are getting some crazy never before seen deals (20%-30%+ off MSRP on new cars).

I'm considering making a lowball offer on a 2020 X5 but I'm half worried they'll take it then I'll have to spend some cash reserve.

Any other comments on deals you or your friends have gotten recently?
 
aquabliss said:
Anyone been new car shopping lately?  Based on the videos I'm seeing on YouTube, the dealers are anxious to turn *ANY* inventory (new and used) they have on the lot into $Cash$ right now and people are getting some crazy never before seen deals (20%-30%+ off MSRP on new cars).

I'm considering making a lowball offer on a 2020 X5 but I'm half worried they'll take it then I'll have to spend some cash reserve.

Any other comments on deals you or your friends have gotten recently?

Why not finance part or all of it?
 
USCTrojanCPA said:
aquabliss said:
Anyone been new car shopping lately?  Based on the videos I'm seeing on YouTube, the dealers are anxious to turn *ANY* inventory (new and used) they have on the lot into $Cash$ right now and people are getting some crazy never before seen deals (20%-30%+ off MSRP on new cars).

I'm considering making a lowball offer on a 2020 X5 but I'm half worried they'll take it then I'll have to spend some cash reserve.

Any other comments on deals you or your friends have gotten recently?

Why not finance part or all of it?

I just have a feeling the dealerships need instant cash and going with a check in hand will help me get a better deal (may not be the case).
 
aquabliss said:
I just have a feeling the dealerships need instant cash and going with a check in hand will help me get a better deal (may not be the case).

It's not the case. They get cash from the bank regardless and BMW gives them extra rebates if you lease / finance through BMWFS. If they can mark up your interest rate, the dealer gets even more ca$h.
 
paperboyNC said:
A lot of dealers are no longer offering great deals because they have no hope of hitting their numbers to get volume rebates.

Here's a good source for BMW deals from a broker:https://forum.leasehackr.com/t/apri...x1-x2-x3-x5-x7-legends-auto-group/125912/1078

2020 BMW X5 DEMO (Heated Seats, Parking Assistance)
61k MSRP
2,600 Due at Signing
558+Tax (532+ Tax With 7 MSD)
36/10k
With Loyalty

We got an 2019 x5, four wheel drive,  that stickered for almost 80k on a lease. Nothing down, 630 plus tax, 36/10. Got the info from the leasehackr forum. Great car, would definitely recommend
 
Looks like QWERTY got the best deal. :)

For BMW, customers usually get better deal with lease than cash purchase since BMWFS offers pretty decent incentives with lease purchase program but no incentive with cash purchase.

I also leased an 2020 X5 at end of last year before COVID started. Here?s the deal I got.  I?m sure the deal should be even better now but I?m put it here for references.
MSRP $62795
Dealer discount $6279.50
BMWFS lease discount $1000
Loyalty Credit discount $1250 (if you currently own a BMW)
Total discount = $8529.50

With 7 MSD, 36m/15k mile per year, payment = $630.34+tax

 
Has anyone reached out to any dealers locally?  I contacted two dealers and both are closed to sales.
 
This forum is packed with ballers. While many Americans can't pay rent or are lining up at the food bank, TIers are scooping up deals on Beamers :)
 
iacrenter said:
This forum is packed with ballers. While many Americans can't pay rent or are lining up at the food bank, TIers are scooping up deals on Beamers :)

I think IHO ran a poll before and showed most TIers were in 1-2 million homes.

Irvine is already a bubble and TIers seem to live in another bubble inside that Irvine bubble.  ;)
 
bones said:
Has anyone reached out to any dealers locally?  I contacted two dealers and both are closed to sales.

Found this.  I guess OC dealers can do restricted in-person sales, however, the two dealers I contacted were essentially closed.

"That being said, the statewide order establishes minimum requirements. Many jurisdictions have adopted local ?shelter in place? orders that restrict vehicle sales to online with remote deliveries only, and these restrictions are unaffected by the updated federal guidance. As of April 22, the following represents our best understanding on the status of vehicle sales throughout California:

Online Sales Only.
At this time, the following jurisdictions only allow online vehicle sales with off-site deliveries at critical businesses or customer residences (no in-person sales are permitted; showrooms must be closed):
Los Angeles County (click here)
City of Los Angeles (Although the April 1 revision to LA City order does not specifically allow vehicle sales, the Greater Los Angeles New Car Dealers Association has received confirmation from the LA City Attorney?s office that the order is not intended to prohibit remote vehicle deliveries)
Bay Area (click here)
Alameda County;
Contra Costa County;
Marin County;
Santa Clara County;
San Francisco;
San Mateo County;
City of Berkeley.
City of Fresno (click here)

Online Sales and Restricted In-Person Sales. If a local jurisdiction does not have a ?shelter in place? order that restricts vehicle sales, the statewide order applies and the statewide order allows vehicle sales. However, any dealership sales department that is open must adhere to social distancing requirements as well as CDC health and safety guidance."
 
bones said:
Has anyone reached out to any dealers locally?  I contacted two dealers and both are closed to sales.

Maybe consider buying out of state. Call up dealers in Red States and have it shipped to your house.
 
Dealership cars are filing up vacant parking lots such as Angles and Dodgers Stadium.
I say do not jump the gun. Last recession the government did a trade in deal.

Too soon to buy a car. Dont buy dont buy
 
I keep getting emails from dealers, here's one from MBZ in Laguna Niguel:

Dear Valued Customer,

We?ve had many customers reach out to us and ask if they are still able to lease or finance a new Mercedes-Benz at Mercedes-Benz of Laguna Niguel during these changing times. The answer is, absolutely! We?re still here for you.

For those of you who are looking for a new or pre-owned Mercedes-Benz, right now we have amazing special programs for the month of April that will make getting into a new vehicle easier than anticipated.

Now through April 30th, our special program offers include:
A first month?s payment credit up to $750 on select 2019/2020 Mercedes-Benz models.*
Defer your first month?s payment on a new or certified pre-owned Mercedes-Benz for 90 days through the Mercedes-Benz Financial Service?s 90-Day Finance Payment Deferral Program*
0% APR rates on select New and Certified Pre-Owned Models*
Loyalty Accelerator up to 5 months*
Loyalty Program up to $5000*
Costco $1000 incentive on E-class*
Factory incentives on almost every model in stock up to $15,000*
Please contact us today to go over all of our special April offers.

If you prefer a touch-free transaction, we welcome remote negotiations via phone calls or email and we are offering remote deliveries of new and pre-owned vehicles. Please call us at 949-209-9215 for more information.

As a reminder, the health and safety of our customers and employees is our highest priority. Our Sales and Service Departments are practicing social distancing and have hand sanitizers at all sales and service points.  We have also increased our daily cleaning and sanitation practices for the protection of you and our employees.

Wishing you good health,

Pat Bolter
Vice President / General Manager
Mercedes-Benz of Laguna Niguel
 
Bet the deals will get better.  So many are either not working or working from home.  No need to drive!  Demand for transportation is down, as are incomes. 

I'm installing permanent charging cables in our cars to keep a battery tender on them because we are driving so little.  I've driven maybe 5 miles a week for the past month+.
 
I bet the deals will get better later on too.

Hertz has gone from appearing solvent to the brink of bankruptcy in less than two months.

They own more than 500k rental cars.
 
Yup. Reached out to a friend that works at a dealership in LA county and he said the same. Once they reopen, lots of incentives.
 
daedalus said:
Bet the deals will get better.  So many are either not working or working from home.  No need to drive!  Demand for transportation is down, as are incomes. 

I'm installing permanent charging cables in our cars to keep a battery tender on them because we are driving so little.  I've driven maybe 5 miles a week for the past month+.

+1  I think dealers will get more desperate in the next 3-6 months.
 
USCTrojanCPA said:
daedalus said:
Bet the deals will get better.  So many are either not working or working from home.  No need to drive!  Demand for transportation is down, as are incomes. 

I'm installing permanent charging cables in our cars to keep a battery tender on them because we are driving so little.  I've driven maybe 5 miles a week for the past month+.

+1  I think dealers will get more desperate in the next 3-6 months.

It?s probably fair to say every business will get more desperate over the next 3-6 months.
 
Do you think Tesla will have a good deal in 3-6 months? Because I may wanna buy a Y or a 3....use up my solar power.
Even though gas is less than $20 a barrel.
 
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