BMW: Reasonable dealer profit on 2003 325i?

I am looking at buying a 2003 325i with the following options:
- Metallic paint
- leather
- xenon
- premium package
- automatic
- destination ($695)

MSRP: $35,095
Invoice: $32,205

So my question is, what is a reasonable about of dealer profit for
this car. I'm in Atlanta, GA, and there are 3 other dealerships with
similarly equipped models around...so I think I should have a fair bit
of leverage. Additionally, the 04's should be here in a month, and I
would think that they would like to start moving the old models. I'm
not inclined to pay close to MSRP for an 03, since it will take the
depreciation hit much sooner...I am thinking of offering $500 over
invoice (about 1.5% profit, MSRP pricing is about 9% profit for
comparison), is this at all realistic or a complete lowball? What
should my firm upper price limit be for this transation? Edmunds
recommended price includes about 5% profit ($1,600) but that seems
high to me, given that its last year's model.

I have searched on google groups and turned up varying advice on the
best deal you can strike...this will be my first car purchase, so I
appreciate any advice!
Cheers,
Ted

Realize, however, that there is some benefit in buying your Bimmer from a
nearby dealership. I bought my 2003 525i earlier this year from my local
dealer and every time I go back in there they ask me if I bought the car
there. The service guy wanted to charge me to reprogram the user settings on
the car if I didn't buy it from them. They also imply that their customers
get preference on service loaners.

PS- I paid $3,000 below invoice on my 525i. There was a factory to dealer
rebate of $3,500, leaving the dealer with a profit of $500. He didn't
complain a bit about it. He took my offer immediately.

"Ted" <com> wrote in message
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