Terms for financing with BMW FS for the rebate

CincySurG05 · 01-02-2019, 04:36 AM

Quote:

Originally Posted by wanderlustX5

That’s a good deal Suresh. I also received invoice - 2000 financing rebate and 1000 bmw cca rebate. 6% is the average discount people have received on forum.

Thanks! Yes i negotiated my discount based on what the folks from this forum got.

You got a great deal too, so if Invoice it is around 7% right ?

Mark609 · 01-02-2019, 09:43 AM

Quote:

Originally Posted by ven7782

You only receive the rebate when you take delivery of the car. At the time of delivery, the dealer will offer the rebate and remove that amount from your financing amount.

The way things to that might take a few months from the time the build order is submitted, right?

How long do folks have to wait to get their builds? Sales director says 3-4 weeks but I don't believe him.

Mark609 · 01-02-2019, 09:46 AM

Quote:

Originally Posted by CincySurG05

You got a great deal too, so if Invoice it is around 7% right ?

Invoice is .937 X MSRP. Most options like the Individual paint upgrades are a tad lower at .92 X MSRP.

CincySurG05 · 01-02-2019, 07:45 PM

Quote:

Originally Posted by Mark609

Invoice is .937 X MSRP. Most options like the Individual paint upgrades are a tad lower at .92 X MSRP.

Good info Mark, Thanks!

ven7782 · 01-02-2019, 08:24 PM

Quote:

Originally Posted by Mark609

The way things to that might take a few months from the time the build order is submitted, right?

How long do folks have to wait to get their builds? Sales director says 3-4 weeks but I don't believe him.

From order to delivery, it took 4 weeks for me.

RJC · 01-02-2019, 08:25 PM

I got the discount at delivery and paid it off a few weeks later. Dealer didn't give me a timeframe so I just pulled the trigger.

CincySurG05 · 01-02-2019, 09:35 PM

Quote:

Originally Posted by Mark609

The way things to that might take a few months from the time the build order is submitted, right?

How long do folks have to wait to get their builds? Sales director says 3-4 weeks but I don't believe him.

It took about 4 weeks for me too... I just created a new thread with my build details/timeline and pre-delivery pictures
https://g05.bimmerpost.com/forums/sh....php?t=1569807

wanderlustX5 · 01-03-2019, 10:56 PM

Quote:

Originally Posted by CincySurG05

Thanks! Yes i negotiated my discount based on what the folks from this forum got.

You got a great deal too, so if Invoice it is around 7% right ?

Invoice is about 0.937 x MSRP. I am a Gujju so tried my best to get the deal

CincySurG05 · 01-04-2019, 04:59 AM

Quote:

Originally Posted by wanderlustX5

Invoice is about 0.937 x MSRP. I am a Gujju so tried my best to get the deal

Haha, good brother! Thanks!

Mark609 · 01-04-2019, 10:01 AM

Sales manager told me yesterday minimum is $7,500 and 3 installments before payoff. THAT is a no brainer.

Mark609 · 01-04-2019, 10:05 AM

Quote:

Originally Posted by wanderlustX5

Invoice is about 0.937 x MSRP. I am a Gujju so tried my best to get the deal

Am splitting hairs but I got 93.0% of MSRP, total discounts of $8,043 on a $67,635 build (price includes delivery).

Invoice is 0.938 X MSRP.

thomas_Rp · 01-26-2019, 09:54 PM

Anymore updates from others on this? I don't want my dealer to get fined.

Min amount $10,000 or $7,500
Minimum duration of financing: 3 installments(?)
Best APR 2.89%

rmorin1249 · 01-27-2019, 08:49 AM

I was told MD law says you can pay off immediately. I plan to make 3-6 payments so dealer isn't back charged for the rebates. Not clear on how many payments are necessary to protect the dealer.

Mark609 · 01-27-2019, 09:29 AM

Quote:

Originally Posted by rmorin1249

I was told MD law says you can pay off immediately. I plan to make 3-6 payments dealer isn't back charged for the rebates. Not clear on how many payments are necessary to protect the dealer.

Like I said go with at least 3.

2019x5User · 01-27-2019, 04:50 PM

For my case: 10K + 3 months = no prepayment penalty, according to dealer FS.

thomas_Rp · 02-14-2019, 06:56 PM

Dealer in Texas is saying min financing amount is is $25,000, 3 months min. Can this be negotiated?

****** · 02-14-2019, 07:10 PM

Mine was 9k and can pay it off after four payments.

rmorin1249 · 02-14-2019, 07:20 PM

Unless these minimum amounts financed and minimum months to pay off vary by state I think dealers are blowing smoke. I was told in MD that state law allows any auto loan to be paid off immediately with no prepayment penalty. As far as the dealer being charged for the incentive I'm still not clear if this is the case and how many payments need to be made to prevent this from happening.

X5_CC · 02-14-2019, 09:32 PM

My dealer told me to make at least 4 payments or they would get charged back for the rebate. So I paid ~90% of the loan balance on the first payment to eliminate almost all of the interest, and then the remaining 10% over the next 3 payments.

thomas_Rp · 02-14-2019, 09:47 PM

Quote:

Originally Posted by X5_CC

My dealer told me to make at least 4 payments or they would get charged back for the rebate. So I paid ~90% of the loan balance on the first payment to eliminate almost all of the interest, and then the remaining 10% over the next 3 payments.

You are the real MVP!

X5_CC · 02-14-2019, 09:52 PM

Quote:

Originally Posted by thomas_Rp

You are the real MVP!

Thanks

Also in answer to your question, I financed less than $25k in Texas. I wanted to finance the least amount that I could, but they made me finance the whole difference between the new X5 and my trade (~$16k) in order to get the rebate.

2019x5User · 02-14-2019, 11:21 PM

Quote:

Originally Posted by X5_CC

My dealer told me to make at least 4 payments or they would get charged back for the rebate. So I paid ~90% of the loan balance on the first payment to eliminate almost all of the interest, and then the remaining 10% over the next 3 payments.

You will pay interest for 4 payments anyway, I don't see how you can save more by paying 90% in 1st payment

:

01-02-2019, 08:25 PM	#28
RJC First Lieutenant 200 Rep 309 Posts Drives: X5 xDrive45e Join Date: Dec 2018 Location: DC Metro iTrader: (0)	I got the discount at delivery and paid it off a few weeks later. Dealer didn't give me a timeframe so I just pulled the trigger.
	Appreciate 0 Quote

01-04-2019, 10:01 AM	#32
Mark609 Banned 180 Rep 404 Posts Drives: 2019 G05 Xline Join Date: Dec 2018 Location: Central Texas iTrader: (0)	Sales manager told me yesterday minimum is $7,500 and 3 installments before payoff. THAT is a no brainer.
	Appreciate 0 Quote

01-26-2019, 09:54 PM	#34
thomas_Rp Second Lieutenant 137 Rep 250 Posts Drives: X5 G05; 535 F10 Join Date: Jul 2010 Location: Texas iTrader: (0)	Anymore updates from others on this? I don't want my dealer to get fined. Min amount $10,000 or $7,500 Minimum duration of financing: 3 installments(?) Best APR 2.89%
	Appreciate 0 Quote

01-27-2019, 08:49 AM	#35
rmorin1249 Colonel 1843 Rep 2,841 Posts Drives: 2026 X3M50 Join Date: Jan 2019 Location: Hagerstown MD iTrader: (1)	I was told MD law says you can pay off immediately. I plan to make 3-6 payments so dealer isn't back charged for the rebates. Not clear on how many payments are necessary to protect the dealer. __________________ COL(Ret), US Army Hagerstown MD 2026 BMW X3M50(My 14th BMW); 2015 Mercedes SL400; 2009 Lexus RX350 [/SIZE] Last edited by rmorin1249; 02-14-2019 at 07:18 PM..
	Appreciate 0 Quote

01-27-2019, 04:50 PM	#37
2019x5User Lieutenant 162 Rep 548 Posts Drives: bwm x5 Join Date: Nov 2018 Location: CA iTrader: (0)	For my case: 10K + 3 months = no prepayment penalty, according to dealer FS.
	Appreciate 0 Quote

02-14-2019, 06:56 PM	#38
thomas_Rp Second Lieutenant 137 Rep 250 Posts Drives: X5 G05; 535 F10 Join Date: Jul 2010 Location: Texas iTrader: (0)	Dealer in Texas is saying min financing amount is is $25,000, 3 months min. Can this be negotiated?
	Appreciate 0 Quote

02-14-2019, 07:10 PM	#39
****** Banned 2100 Rep 1,688 Posts Drives: 2019 X5 Msport Join Date: Jun 2011 Location: Greenville, SC iTrader: (0)	Mine was 9k and can pay it off after four payments.
	Appreciate 0 Quote

02-14-2019, 07:20 PM	#40
rmorin1249 Colonel 1843 Rep 2,841 Posts Drives: 2026 X3M50 Join Date: Jan 2019 Location: Hagerstown MD iTrader: (1)	Unless these minimum amounts financed and minimum months to pay off vary by state I think dealers are blowing smoke. I was told in MD that state law allows any auto loan to be paid off immediately with no prepayment penalty. As far as the dealer being charged for the incentive I'm still not clear if this is the case and how many payments need to be made to prevent this from happening. __________________ COL(Ret), US Army Hagerstown MD 2026 BMW X3M50(My 14th BMW); 2015 Mercedes SL400; 2009 Lexus RX350 [/SIZE]
	Appreciate 0 Quote

02-14-2019, 09:32 PM	#41
X5_CC Captain 307 Rep 668 Posts Drives: X5 40i Join Date: Nov 2018 Location: Texas iTrader: (0)	My dealer told me to make at least 4 payments or they would get charged back for the rebate. So I paid ~90% of the loan balance on the first payment to eliminate almost all of the interest, and then the remaining 10% over the next 3 payments.
	Appreciate 1 thomas_Rp137.00 Quote