September Incentives?

krypttic · 09-03-2023, 03:04 PM

Anyone know if the incentives and finance rates for September have changed from those offered in August?

ctelimad · 09-03-2023, 06:58 PM

I think they will be out on tuesday given the holidays

bono · 09-05-2023, 09:27 PM

I am not sure about incentives, but financing is at 6.29% now? Used to be 4.99%, I think. Time to look for other options.

dogbert · 09-05-2023, 10:20 PM

rates when up 30bps, so 4.99 to 5.29, which is the buy rate. 6.29 is with 1 percent dealer markup

bono · 09-05-2023, 10:31 PM

6.29% was what I heard from the dealer. I ran some random X5 build through the configurator and for financing it showed me 6.29 as well. Maybe this depends on zip code?

How do you check what BMW FS is offering, i.e. before dealer markup? I will be picking up the car in 1.5-2 months, so correction could happen, but still I am wondering where to check the rates without markup.

Thanks!

TurtleBoy · 09-06-2023, 06:32 AM

Quote:

Originally Posted by bono

6.29% was what I heard from the dealer. I ran some random X5 build through the configurator and for financing it showed me 6.29 as well. Maybe this depends on zip code?

How do you check what BMW FS is offering, i.e. before dealer markup? I will be picking up the car in 1.5-2 months, so correction could happen, but still I am wondering where to check the rates without markup.

Thanks!

BMWFS no longer publishes that on the website and they have been using the marked up rate in calculations so you can just subtract 1% from that.

Edmunds lists the incentives and rates, usually takes a few days to update so maybe they will be listed today.

https://www.edmunds.com/bmw/x5/2024/deals/

cdhowell · 09-06-2023, 07:15 AM

Quote:

Originally Posted by TurtleBoy

BMWFS no longer publishes that on the website and they have been using the marked up rate in calculations so you can just subtract 1% from that.

Edmunds lists the incentives and rates, usually takes a few days to update so maybe they will be listed today.

https://www.edmunds.com/bmw/x5/2024/deals/

My dealer is marking the rate up by 1%, I wonder what tactics others have used to try and get the actual rate vs the mark-up? I will pick up in 3ish weeks....

TurtleBoy · 09-06-2023, 08:16 AM

Quote:

Originally Posted by cdhowell

My dealer is marking the rate up by 1%, I wonder what tactics others have used to try and get the actual rate vs the mark-up? I will pick up in 3ish weeks....

Unfortunately many dealers will not budge from the markup but some do just buy asking for the base rate. You can try shopping around since lower rates are available but if you are getting an incentive (I think loyalty is the only one available) that requires financing you are more or less stuck with using BMWFS.

SamAtTheBeach · 09-06-2023, 11:01 AM

Quote:

Originally Posted by TurtleBoy

BMWFS no longer publishes that on the website and they have been using the marked up rate in calculations so you can just subtract 1% from that.

Edmunds lists the incentives and rates, usually takes a few days to update so maybe they will be listed today.

https://www.edmunds.com/bmw/x5/2024/deals/

Yup, can confirm as my dealership doesn't mark it up, I.G. Burton in southern Delaware. Finally updated their website this morning and is showing 5.29% for 3,4 and 5 year loans. think it was 5.79 for 6 year loan if I remember. College student and military offers

bono · 09-06-2023, 03:08 PM

Aren't dealers getting something from BMW FS after three payments? If I am not happy with marked up rate and can find something better, I can imagine that I can finance by BMW FS for one money, get the incentive and refinance, correct? Dealer would not get anything from BMW FS, correct? I am just trying to understand whether there is any pressure I could make presenting such scenario.

Quote:

Originally Posted by TurtleBoy

Unfortunately many dealers will not budge from the markup but some do just buy asking for the base rate. You can try shopping around since lower rates are available but if you are getting an incentive (I think loyalty is the only one available) that requires financing you are more or less stuck with using BMWFS.

TurtleBoy · 09-06-2023, 03:15 PM

Quote:

Originally Posted by bono

Aren't dealers getting something from BMW FS after three payments? If I am not happy with marked up rate and can find something better, I can imagine that I can finance by BMW FS for one money, get the incentive and refinance, correct? Dealer would not get anything from BMW FS, correct? I am just trying to understand whether there is any pressure I could make presenting such scenario.

If at least three monthly payments aren't made then they can chargeback the dealer for any incentives or a portion of them. I'm not sure if it is an automatic chargeback or depends on other factors but all dealers seem to push making at least three payments.

machop · 09-06-2023, 10:29 PM

in order to qualify for this $1500 incentive from BMWFS, is there any criteria on the loan? if you borrow less money, the first 3 months interest will be smaller.

TurtleBoy · 09-07-2023, 06:59 AM

Quote:

Originally Posted by machop

in order to qualify for this $1500 incentive from BMWFS, is there any criteria on the loan? if you borrow less money, the first 3 months interest will be smaller.

The minimum is, or at least has been, $7,500 but some dealers will say $15k or even $25k.

LDT · 09-07-2023, 08:30 AM

NFCU offers 4.54% for top tier credit. It’s relatively easy to join.

bono · 09-08-2023, 03:52 PM

I was pushing my dealer, but they are saying that I got 6% off MSRP, so then need to keep 1% mark-up for the finance. Fair enough - just need to remember to negotiate also base rate for financing next time!

NFCU offer at 4.54% is great, but I can't join - no family members served in US military and I do not live with anybody who served.

Any other good financing offers on the market?

cdhowell · 09-08-2023, 04:34 PM

Quote:

Originally Posted by bono

I was pushing my dealer, but they are saying that I got 6% off MSRP, so then need to keep 1% mark-up for the finance. Fair enough - just need to remember to negotiate also base rate for financing next time!

NFCU offer at 4.54% is great, but I can't join - no family members served in US military and I do not live with anybody who served.

Any other good financing offers on the market?

I’ve heard you can call NFCU and they are fairly relaxed on membership, if you know anyone friend or family that you can reference it might help. I joined under a grandparent and they did not ask ask for any proof other than my word.

LDT · 09-08-2023, 08:14 PM

Quote:

Originally Posted by bono

I was pushing my dealer, but they are saying that I got 6% off MSRP, so then need to keep 1% mark-up for the finance. Fair enough - just need to remember to negotiate also base rate for financing next time!

NFCU offer at 4.54% is great, but I can't join - no family members served in US military and I do not live with anybody who served.

Any other good financing offers on the market?

Call NFCU. It’s surprisingly easy to join. I think they have relaxed their requirements. Take a look at their website for info relative to membership.

09-03-2023, 03:04 PM	#1
krypttic Lieutenant 283 Rep 589 Posts Drives: 2024 BMW X50e with Executive P Join Date: Apr 2023 Location: Phoenix, AZ iTrader: (0)	September Incentives? Anyone know if the incentives and finance rates for September have changed from those offered in August?
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09-03-2023, 06:58 PM	#2
ctelimad Lieutenant 388 Rep 401 Posts Drives: bmw m8 Join Date: Jun 2020 Location: nyc iTrader: (0)	I think they will be out on tuesday given the holidays
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09-05-2023, 09:27 PM	#3
bono Lieutenant 281 Rep 585 Posts Drives: BMW X5d Join Date: Nov 2015 Location: CA iTrader: (0)	I am not sure about incentives, but financing is at 6.29% now? Used to be 4.99%, I think. Time to look for other options.
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09-05-2023, 10:20 PM	#4
dogbert New Member 2 Rep 7 Posts Drives: Audi SQ5 Join Date: Jan 2023 Location: NY iTrader: (0)	rates when up 30bps, so 4.99 to 5.29, which is the buy rate. 6.29 is with 1 percent dealer markup
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09-05-2023, 10:31 PM	#5
bono Lieutenant 281 Rep 585 Posts Drives: BMW X5d Join Date: Nov 2015 Location: CA iTrader: (0)	6.29% was what I heard from the dealer. I ran some random X5 build through the configurator and for financing it showed me 6.29 as well. Maybe this depends on zip code? How do you check what BMW FS is offering, i.e. before dealer markup? I will be picking up the car in 1.5-2 months, so correction could happen, but still I am wondering where to check the rates without markup. Thanks!
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09-06-2023, 10:29 PM	#12
machop Private 36 Rep 95 Posts Drives: BMW Join Date: Jan 2018 Location: Texas iTrader: (0)	in order to qualify for this $1500 incentive from BMWFS, is there any criteria on the loan? if you borrow less money, the first 3 months interest will be smaller.
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09-07-2023, 08:30 AM	#14
LDT Major 1621 Rep 1,227 Posts Drives: 2024 X5 M60i Join Date: Jun 2018 Location: Southeast USA iTrader: (0)	NFCU offers 4.54% for top tier credit. It’s relatively easy to join. __________________ 2024 X5M60i-- Skyscraper/Ivory 2020 Cayenne replaced by ^^ 2017 X5 35d--still in my diesel phase 2015 GL 350--diesel burner/highway queen 2013 Audi S6--a beast in it's day
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09-08-2023, 03:52 PM	#15
bono Lieutenant 281 Rep 585 Posts Drives: BMW X5d Join Date: Nov 2015 Location: CA iTrader: (0)	I was pushing my dealer, but they are saying that I got 6% off MSRP, so then need to keep 1% mark-up for the finance. Fair enough - just need to remember to negotiate also base rate for financing next time! NFCU offer at 4.54% is great, but I can't join - no family members served in US military and I do not live with anybody who served. Any other good financing offers on the market?
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