I’m located in the Boston area and recently started considering moving up my purchase timeline because of the current 1.99% APR finance promotion. Originally, I was planning to buy later this year(summer), but the promo has me thinking about possibly signing earlier.
I’m just starting to reach out to local dealers, but I have a timing issue.
I currently own a car that I plan to give to my brother. However, he is currently overseas and won’t be back in the U.S. until sometime this summer (he will be back to graduate school and we still don't know where he is going). If I purchase the new car now, I would temporarily be carrying two vehicles (insurance, registration, parking, etc.), which isn’t ideal but might be manageable depending on the numbers.
Here’s what I’ve heard and would love clarification on:
My understanding is that as long as I sign the finance contract before March 2 (when the promo ends), I can lock in the 1.99% APR and hold it for 60–90 days. Is that accurate?
If that’s true, does the rate lock only apply if the vehicle is delivered within that 60–90 day window?
If I choose not to buy from existing dealer stock and instead place a factory order (thinking this might buy me more time), would I still be able to lock in the 1.99% APR now and keep that rate when the vehicle is delivered later? Or is the promotional APR determined at the time of delivery rather than at order/contract signing?
I don’t have a lot of experience with how BMW Financial Services handles rate locks, especially for factory orders, so I’d really appreciate any insight from those who’ve gone through this.
Thanks in advance for any guidance!
