BAD: Foreign Motors West Marks Up Lease factors...Who Else?
05-05-2006, 08:43 PM
#1
Member
Thread Starter
BAD: Foreign Motors West Marks Up Lease factors...Who Else?
I called Foreign Motors West in Natick, MA -- which is running an advertised special this week featuring “employee pricing”. – for a quote on a 2006 E55.
I was told that the special "employee pricing" constituted $500 over invoice, which is more than market and obviously not particularly “special” (funny, when I talked to another dealer, they told me their employee price – the actual price this dealer could buy a car for – amounted to a 10% discount).
When I got a lease quote, I asked what the lease factor was on a 39 month lease, and was told it was .0412.
I have now learned this is a considerable mark-up over MB's own lease rate of .0038.
When I asked why this was "so high", the salesperson pled ignorance and said he got the numbers from the business manager.
I will never call these people, or do business with them again.
I was told that the special "employee pricing" constituted $500 over invoice, which is more than market and obviously not particularly “special” (funny, when I talked to another dealer, they told me their employee price – the actual price this dealer could buy a car for – amounted to a 10% discount).
When I got a lease quote, I asked what the lease factor was on a 39 month lease, and was told it was .0412.
I have now learned this is a considerable mark-up over MB's own lease rate of .0038.
When I asked why this was "so high", the salesperson pled ignorance and said he got the numbers from the business manager.
I will never call these people, or do business with them again.
05-06-2006, 10:04 AM
#2
Senior Member
Marking up the lease factor is definitely not uncommon. Westwood (also in MA, for those unfamiliar) played the same game with me. When the MB deal was 0.00125, they were trying to get me in the car at 0.00175. When I finally called them out on it, they said "well, we have to make money somewhere". Of course, they had the car at $2,000 over invoice as well. Add a 3% holdback (more if they sell enough units) and the dealer had enough profit to feed a small country...Anyway, that's why you and I both had to go out of state.
When I say not uncommon, that's because I also shot down the first deal that I had on a car from MD (ended up going to NJ instead). The MD dealer quoted me a great price on the car, then when we started talking lease, I told him his pmt sounded high. I told him I was calculating using a 0.00125 MF and he said, "oh no, we use 0.00165." I said, "Well, that's not the MB deal". He said, "Yeah, but the disclaimer says 'See dealer for details'."
If I had been at the dealership, not over the phone, I might have the guy!
Do they think people buying this type of car can't do simple math? Ugh...
When I say not uncommon, that's because I also shot down the first deal that I had on a car from MD (ended up going to NJ instead). The MD dealer quoted me a great price on the car, then when we started talking lease, I told him his pmt sounded high. I told him I was calculating using a 0.00125 MF and he said, "oh no, we use 0.00165." I said, "Well, that's not the MB deal". He said, "Yeah, but the disclaimer says 'See dealer for details'."
If I had been at the dealership, not over the phone, I might have
the guy!Do they think people buying this type of car can't do simple math? Ugh...
05-06-2006, 12:42 PM
#3
Member
Thread Starter
Originally Posted by metalica_23
Marking up the lease factor is definitely not uncommon. Westwood (also in MA, for those unfamiliar) played the same game with me. When the MB deal was 0.00125, they were trying to get me in the car at 0.00175. When I finally called them out on it, they said "well, we have to make money somewhere". Of course, they had the car at $2,000 over invoice as well. Add a 3% holdback (more if they sell enough units) and the dealer had enough profit to feed a small country...Anyway, that's why you and I both had to go out of state.
When I say not uncommon, that's because I also shot down the first deal that I had on a car from MD (ended up going to NJ instead). The MD dealer quoted me a great price on the car, then when we started talking lease, I told him his pmt sounded high. I told him I was calculating using a 0.00125 MF and he said, "oh no, we use 0.00165." I said, "Well, that's not the MB deal". He said, "Yeah, but the disclaimer says 'See dealer for details'."
If I had been at the dealership, not over the phone, I might have the guy!
Do they think people buying this type of car can't do simple math? Ugh...
When I say not uncommon, that's because I also shot down the first deal that I had on a car from MD (ended up going to NJ instead). The MD dealer quoted me a great price on the car, then when we started talking lease, I told him his pmt sounded high. I told him I was calculating using a 0.00125 MF and he said, "oh no, we use 0.00165." I said, "Well, that's not the MB deal". He said, "Yeah, but the disclaimer says 'See dealer for details'."
If I had been at the dealership, not over the phone, I might have
the guy!Do they think people buying this type of car can't do simple math? Ugh...
