Hi folks,
About a month back I listed my 01 M3 Vert and 01 Z3 Coupe for sale. Since we were planning to buy an M5 and a 325i.
Just wanted to share with all of you what happened. So I had ordered my 06 M5 with all options four months ago. I went to a lot of dealerships near where I live, i.e Beverly Hills, and everyone wanted 10k to 15k over MSRP. I finally found a dealership more than 100 miles away from Beverly Hills (Cannot state their name here for legal reasons), which promised that they can do it for me for MSRP. Went their, gave them 10K deposit, and agreed on MSRP, which was $95,440. Three weeks ago, my car got to the dealership.
We go there, very happy, and all dancing. We get their, the first thing I notice, they had installed the front LICENSE PLATE BRACKET. Fine whatever, I got over that. Then, we sat down with one of their finance people to discuss the AGREED UPON numbers, on which their finance manager had already signed. I test drove the car, and it was absolutely beautiful, but not what I expected to be honest. BTW the car only had 7 miles on it. So they print out the Lease Papers, and I am looking at them, and my heart starting skipping. They had added 10K over MSRP. I looked at the Finance Guy, and pointed that out to him. He looked sheepish, and told me that the GENERAL MANAGER made that decision, and they usually sell at 15K over MSRP. I smiled and told him that we agreed on this car, and it was supposed to be at MSRP and I showed him a printout on which their Finance Manager had signed 4 months ago. He looked at it, and then left the room. I was looking at my wife, really beginning to stress.
Finally he comes back with the GM, who tells me that their Finance Guy made a mistake, the best they can do is $8K over MSRP. I got really flustered, and told him that it is extremely unfair. He said that he can sell the car easily at 15K over MSRP, he is doing a great favor for us. I got really upset, and more discussion followed. Nothing came of it, and we left......
I talked to my friend, who is an attorney. According to him, on the paperwork they signed and also for my deposit, they had not written any AGREED UPON PRICE but only MSRP, which incidentally we all know stands for Manufacturer's Suggested Retail Price, therefore, that gave them a loophole. In CA verbal promise is considered a written promise. I could follow up, but after a long discussion, I have finally decided to move on. But just wanted to share with you all what happened.
SO, I did need a car, and my wife needed a car too. I got the next best thing to the M5 and my wife got a better car.
2006 BMW 550i [Silver Grey Metallic, Sport, Premium Sound, Comfort Access, HUD, Automatic, Navigation, Black Leather, Heated Seats, Satellite Radio, Power sunshade, BMW Assist, Bluetooth]
2006 BMW 330i [Sparkling Graphite Metallic, Sport, Premium, Comfort Access, Automatic, Navigation, Black Leather, Satellite Radio, BMW Assist, Bluetooth]
And I can say honestly, now I am happy. The 550i is pretty fast, actually handles very well too. I was kind of stuck wheather I should wait for the 2007 or not, and then after weighing in all the options, and the differences, I decided to go with 06, since the only thing I would be missing is the AUX jack really and I was able to get really good numbers on the 06 550i. My wife is also very happy with her 330i. Another important thing to note for people waiting on the 07, imagine in 08 end you sell an 07 which you bought in 06 April. The mileage will be much higher. Plus as I understand, BMWFS will be decreasing the Residual, keeping in mind the above mentioned reason, so the lease will come out to be more expensive.
Thanks all for reading.
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Quote: Why can't you post the dealer's name? Others deserve to know about it - you are not slamming them or anything - just the facts right?
I still think that MSRP is clearly the "Manufacturer's" Suggested Retail Price and not the Dealers - I would have at least threatened to sue them (I'm sure you did however!).
Here in IL, none of the dealers I talked to were selling a new M5 over sticker. Some of them did have "used" ones that were over sticker however.
PS - can you elaborate on why the M5 was not quite what you expected?
PPS - CONGRATS! | Since my attorney talked to their attorney, therefore i cannot disclose their name. That is what I was told. Sorry, otherwise I would love to state their name.
About the M5, The engine sounds great, and it has a great feel, but I was expecting a huge difference from an M3, but did not. I am talking purely in the feel of engine's power. But honestly, it has a lot of plus points. I just didn't feel the kind of thrust I was expecting, but I hardly put 1 mile on the car. did push it, but only upto 4500 RPM, since I was buying the car, I didn't want to mess up the initial break in either. So my expectations cannot be judged 100%. I guess I am also trying to satisfy myself now that I have bought the 550i  Even though I know that the 550i numbers on the BMWNA website state 5.5 seconds, I honestly doubt them. I don't have any DYNO numbers, but this 550 does seem as fast as the M3. But obviously, as per the numbers, and all magazines I have read, no match for the M5. One more thing, I just found out, that the M5 being sold in Europe can do 0-60 in 4.1 seconds, due to Launch control at almost 4K rpm.... and here it is set at 1600 rpm..... anyways... what I am trying to say is right now, the 550i is making all my happy sensors , HAPPY.
PS: BTW, I did try with other dealers for M5 after this mishap. One comitted over the phone, but did not sign and fax that commitment, so I guess was trying BAIT AND SWITCH. Now that I have already bought the 550i, someone the other day at my work was gonig. Oh man, you should have asked me. I could have gotten you MSRP at blah blah blah..... BUT I am sticking to my 550i, and truly I am happy. I have leased it for two years, and I will think about getting the M6 at that point 
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My New M5 Story
This however, you more than likely would be garnished and/or penalized for.