Well, I just got back from the dealer(s).
The first one over the phone told me they would do $1800 over invoice, and $299 dealer fee. When I get there, they are at $2000 over invoice and wants to charge me $299 dealer fee. Lease figures: 36mo/15k miles Residual 64%, Money Factor 0.0034. With a down payment of $3000 total, payments would be $550 with tax. I gave them a chance since we were dealing with the Sales manager directly, and because we had bought the last two BMW's from them('95 318iC & '96 Z3). My dad got a '96 Z3 for $1500 over invoice and was one of the first ones in S.Florida.
The second dealer who I had been to already and had previously given me a price of $37421, which was about $2,600 over invoice plus $499 prep. plus other fees. I went back and found out about the leasing rates, etc. When he pulled out the quote he had given me about 2 months earlier, he noticed that I had apparently been quoted for a 328i not a 328Ci. He talked to the manager and came back saying that he would trade off the difference (about $490) for the dealer fee. That was cool, and the only thing remaining was to bring the price down some. I told him that the other dealer had offered me $1800 + $299. He then talked to the manager and came back with the $1800 over invoice including the prep fee which they had already removed. So figuring it out I got the car for about $1800 over invoice plus a dealer fee of $500. If I average it out with the other dealer, it works out about the same. The difference was the leasing rate & the salesman.
The leasing rates were 36mo./12k (plus a free certificate for 3k/yr free) 67% residual, and 0.0030 money factor. It worked out to $492 per month. This was also with $2987 down. The breakdown was as follows:
$ 2127 towards car (included $680 BMW FS fee??)
$ 524 First payment with tax
$ 125 Title
$ 211 Tax
I decided to go with this dealer as I had been dealing with him previously and had always been very friendly and helpful. He even called me when he received a shipment so I could look at the colors since on my first visit they only had a couple.
So, here is the final configuration:
5-speed (gotta start learning - yeah, yeah, I know....)
In Dash CD
$37000 with all car fees.
8 Weeks and counting...tick..tick..tick..