[MontegoGoGoGo]

BIG BIG Noob questions here, so beware!

We're looking at adding a 2008 550 to the family, and my question was, is there a way I can find out exactly how much the dealer paid for that exact car?

I was reading about MSRP price and Invoice price, but are those only for new cars?

We know the car we're interested in, and I could get the vin# if finding that requires it.

I hope this makes sense.

Thanks

EDIT:: I want this information to use as a negotiation tool. To come to an agreement that is fair to both parties.

[335iheLLraiseR]

depends, a few dealers i went to the last 5 or 6 digits of their stock # was their cost.

[MontegoGoGoGo]

How can I see or get the stock number, where is it? Thanks.

Cheers!

[persian54]

oo the stock numbers... smart!

[I335]

You can't rely on the stock number being what they paid though just because 1 dealer did it. I think the only real way to find out is if you know and trust someone that works there. I think it'll be tough to find out, but if you do, let us know.

[Nikolas]

BMW usually has a 7% difference between MSRP and invoice. That is the margin they use. Depending on the volume the dealer moves particular cars there is additional wiggle room beyond that.

[cb1111]

Originally Posted by Nikolas

BMW usually has a 7% difference between MSRP and invoice. That is the margin they use. Depending on the volume the dealer moves particular cars there is additional wiggle room beyond that.

This not only doesn't apply to new cars but means nothing for used cars.

Quite simply, unless you have someone "inside" the dealership then you have no chance of ever finding out what the dealer paid for the used car.

If you have someone inside the dealership then you can get a good deal anyway and this discussion is unnecessary.

Aside from price paid, there are too many variables to determine how much the dealer has in the car. How much did the dealer have to put into the car to recondition it? Did they over (or under) pay for the car because the prior owner bought another car and was looking at either a high trade in (the dealer paid more than the car was worth and screwed the customer on the new car) or screwed the customer on the trade (and gave him a good deal on the new car)

So, how can you determine a fair price on a used car?

Look at Manheim auctions to give you a rough idea of what dealers are paying for used cars. Then look at recent sales on places like ebay to see what consumers are paying.

[Nikolas]

Originally Posted by cb1111

This not only doesn't apply to new cars but means nothing for used cars.

Quite simply, unless you have someone "inside" the dealership then you have no chance of ever finding out what the dealer paid for the used car.

If you have someone inside the dealership then you can get a good deal anyway and this discussion is unnecessary.

Aside from price paid, there are too many variables to determine how much the dealer has in the car. How much did the dealer have to put into the car to recondition it? Did they over (or under) pay for the car because the prior owner bought another car and was looking at either a high trade in (the dealer paid more than the car was worth and screwed the customer on the new car) or screwed the customer on the trade (and gave him a good deal on the new car)

So, how can you determine a fair price on a used car?

Look at Manheim auctions to give you a rough idea of what dealers are paying for used cars. Then look at recent sales on places like ebay to see what consumers are paying.

I was responding to the question as it relates to new cars. And yes the 7% is a real number for new cars. As for the cost they have into the used car - that is very tough to determine.

[bimmer_335]

you will never know exactly how much they paid... the best you can do is check the auction prices... but even they vary with condition/options on the car. My advice will be to check the trade in price on kbb with all the options correctly checked and look at value in excellent condition. Most likely dealer did pay very close to it. Remember, if the car is CLEAN... then the dealers do pay top dollars for a desired car in a hit color combo.

[Nikolas]

I guess the 7% difference has changed since I got my car in 2007. Maybe that is due to the earlier cars coming with more standard options than the newer cars.

[MontegoGoGoGo]

Wow, that's scary, I don't even remember posting that....anyway, thanks for all of the advice.

I'm going to check out the auction prices and the KBB trade-in price as well. Both great suggestions. Just want to arm ourselves with as much knowledge as possible, usually when they see two blonde chicks coming, they think they can take advantage!

Thanks fellas.

[bumere90]

about 30-35k