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How to buy a bargain BMW
THE Singapore Airshow may have been a treat for aircraft enthusiasts, but it had something to offer BMW fans, too. The German luxury brand provided 350 cars to the event, which ended on Thursday. Used to shuttle VIPs around, the fleet of 320i, 520i and 730Li sedans are now on the market for discounted prices.
Performance Motors Limited, the authorised dealer for BMW here, declined to reveal prices, but The Business Times understands that the company is offering S$20,000 "overtrade" deals on the cars.
An overtrade is when a car dealer buys the customer's existing car for more than its trade-in value.
For example, paying a customer S$20,000 extra for his used car would effectively lower the price of a BMW 320i from S$205,888 with Certificate of Entitlement to S$185,888.
A 520i used at the Singapore Airshow would effectively cost S$222,888 with a S$20,000 overtrade.
Car companies here routinely partner with major events to supply cars for VIP transport. Audi supplied a handful of cars for bigwigs at the Patek Philippe Watch Art Grand Exhibition last year, while BMW provided 45 cars for use at Singapore International Energy Week and 70 cars at Singapore Convention Week.
The practice gives buyers the chance to snag lightly-used cars for lower prices. At the Singapore Airshow 2018, Performance Motors reportedly lopped S$42,000 off the price of the BMW 730Li.
Such partnerships can help to turbocharge sales, too. BT understands that only around 70 cars used at the Singapore Airshow are left, meaning the event has helped BMW get its 2020 off to a flying start.