Buying a new BMW/Negotiation tips

[rsk111]

I'm planning on buying a new BMW 535xi sedan. I'm under the impression that when buying this type of car there is less room for negotiation than one would have when buying a Honda (for example). If anyone has experience in this area, I'd appreciate answers to the following questions:

1. Is the negotiation process really any different than when buying a "regular" car? The main problems that I see are that there is a fairly high demand for these cars relative to the supply and there is only one BMW dealership within 50 miles, so the dealership has to worry less about competition.

2. How much below MSRP (or above invoice) should I shoot for?

3. Dealers often have these "administrative fees" preprinted on their forms that they never tell you about before. I always get them to drop these sorts of fees and I'll try to do the same with this purchase, but I'm wondering if it is not a reasonable expectation for them to get dropped since it is less of a buyer's market.

4. Does anyone have any experience with the European Delivery Program? Do you just go through the same negotiation process and then pick it up in Europe for a fixed discount or is the discount negotiable also?

5. Are their any other good websites with the type of information I'm looking for. I've looked at bimmerforums, on which I couldn't find great advice about the actual negotiation process. Other sites about buying cars don't really have information specific to this type of car (but maybe it's not that different).

Thanks for any advice you can give.