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Looking at BMW (3 series), Mercedes (c-class), Lexus (IS250), Audi (A4 series) for new 2009 cars. Can anyone share experience in successful negotiations with the luxury car dealers?  How can I know what a fair price?  I am ok for the dealer to get a fair profit, but would hate to be "screwed".  

As a former Buyer's Broker and now just a person that helps friends and family get into new cars here's my advice.  And it's based on over 100 transactions including in the last three months one Merceds E-class (my mother-in-law), one Lexus RX350 (my wife) and one Audi A3 (my Brother-in-Law) (sorry no BMW's):

Call FLEET Managers at three to five dealers.  Tell them you are calling on advice of a former broker (me) and you want a price.  Fleet managers work on volume not margin so their goal is to move as many cars as possible at the fleet price.  Make sure to ask them to check for ALL factory incentives/rebates today (you would be surprised how often a new manufacturer-to-dealer rebate has just come out and the Fleet Manager hasn’t received the notice yet).  You can even set up stress-free test drives with the Fleet person.

If the Fleet Manager nearest to you has the lowest price then your in business.  Even if that Fleet Manager doesn’t have the model with the color and options you want he can trade another dealer for it (happens all the time).  If the nearest Fleet Manager doesn’t have the lowest price then tell him/her to match the lowest price you found from another dealer.  Usually they will.  Again, he can trade for the car you want.  If they won’t match it then go to the lowest priced dealer.  

The time and hassle saved over any other method of buying a car is unsurpassed.  And I’ve tried all the internet buying services and club programs like Cars Direct, Costco, AAA, etc.  

And please be sure to tell the Fleet Managers you want LAUTTO plays included and that DaveZo referred you.  You’ll get thousands of chances to get that new car paid off and I get bonus plays to win the pay-off on my Jeep (yes, bought through Fleet).  That’s what I get out of this.  

Then, if your getting close to getting your car and want some advice on dealing with the Finance & Insurance Department (usually the highest profit margin center) let me know.

Good luck.