[YustonUser]

Is the 2.9% finance rate only for the m60i or would they have access on a 50e assuming the dealer participates? That’s a terrific rate but seems off to only offer it on the m60i

[TurtleBoy]

Originally Posted by YustonUser

Is the 2.9% finance rate only for the m60i or would they have access on a 50e assuming the dealer participates? That’s a terrific rate but seems off to only offer it on the m60i

2.99 is available for all X5's but keep in mind that rates can be regional so check for them in your region and of course they can be marked up by the dealer.

[evanseric21]

Originally Posted by TurtleBoy

2.99 is available for all X5's but keep in mind that rates can be regional so check for them in your region and of course they can be marked up by the dealer.

Hey Turtle,

Are those rates also for the X5M Competition and X6M Competition?
Also, I won't get a better price if I pay cash, correct?

Thanks in advance!

[TurtleBoy]

Originally Posted by evanseric21

Hey Turtle,

Are those rates also for the X5M Competition and X6M Competition?
Also, I won't get a better price if I pay cash, correct?

Thanks in advance!

No, they do not apply to the M's. Correct, generally you do not get a break by paying cash.

[texrex5]

Originally Posted by TurtleBoy

2.99 is available for all X5's but keep in mind that rates can be regional so check for them in your region and of course they can be marked up by the dealer.

Can confirm. Seeing 3.99% in Texas on dealer’s website when filling credit application.

[Car-Addicted]

Originally Posted by texrex5

Can confirm. Seeing 3.99% in Texas on dealer’s website when filling credit application.

It's showing 3.99% on BMW website with PA zip code.

[spoodle]

Originally Posted by TurtleBoy

2.99 is available for all X5's but keep in mind that rates can be regional so check for them in your region and of course they can be marked up by the dealer.

I did not know those rates could be marked up by the dealer! I texted my SA today and said we want 2.9% will the X5 be here by the end of the year? (He doesn't know I've already been tracking it as well as using F12).

[YustonUser]

Quick question - do you need to apply for credit on dealers website? Even if you’re already in a lease with BMWFS? I plan to finance but want to be sure I don’t apply if not needed as my SA didn’t mention that as an action.

[TurtleBoy]

Originally Posted by spoodle

I did not know those rates could be marked up by the dealer! I texted my SA today and said we want 2.9% will the X5 be here by the end of the year? (He doesn't know I've already been tracking it as well as using F12).

Yes, BMWFS allows dealers to mark up the APR by 1% and lease MF’s by .00040.

[TurtleBoy]

Originally Posted by YustonUser

Quick question - do you need to apply for credit on dealers website? Even if you’re already in a lease with BMWFS? I plan to finance but want to be sure I don’t apply if not needed as my SA didn’t mention that as an action.

I would assume they are linking to the BMWFS site (which is where I recommend to fill it out) You should need to fill out the credit app since you are getting a new loan and in order to get the lock on rates and incentives.

[texrex5]

TurtleBoy : Does lease MF change every month? Trying to understand if I can ask for the updated MF at the time of the delivery based on the MF for that month, if this is indeed the case.

[TurtleBoy]

Originally Posted by texrex5

TurtleBoy : Does lease MF change every month? Trying to understand if I can ask for the updated MF at the time of the delivery based on the MF for that month, if this is indeed the case.

It can change every month but hasn't recently. You definitely can take the MF that is available when you take delivery. Actually you have to if you didn't fill out the credit app and get a no-harm lock on the MF/incentives that were applicable when your order was placed.

[texrex5]

Originally Posted by TurtleBoy

It can change every month but hasn't recently. You definitely can take the MF that is available when you take delivery. Actually you have to if you didn't fill out the credit app and get a no-harm lock on the MF/incentives that were applicable when your order was placed.

Got it. Thanks. I think I did fill the credit app, cuz I had a credit check notification when I ordered and the dealer did ask for ssn.

[TurtleBoy]

Originally Posted by texrex5

Got it. Thanks. I think I did fill the credit app, cuz I had a credit check notification when I ordered and the dealer did ask for ssn.

Sounds like you did. When you do that you get a no harm lock for 90 days (perhaps 120) that allows you to take the rate/incentive combination from any month from order to delivery.

[Car-Addicted]

Be careful that the rate lock you get on line is the one that the finance guy uses when you complete the purchase.

I had a very bad experience with BMW of Catonsville over that when I purchased my F31. Twice I had to walk out the front door with these clowns.

[texrex5]

Originally Posted by Car-Addicted

Be careful that the rate lock you get on line is the one that the finance guy uses when you complete the purchase.

I had a very bad experience with BMW of Catonsville over that when I purchased my F31. Twice I had to walk out the front door with these clowns.

As in, you were asking for the rates, that were better at the time of the delivery, but the CA was not letting you use that and stuck to the one that was at the time of the order?

[TurtleBoy]

Originally Posted by texrex5

As in, you were asking for the rates, that were better at the time of the delivery, but the CA was not letting you use that and stuck to the one that was at the time of the order?

He may be referring to the markup. Dealers are allowed to mark up the base rate by 1% and base MF by .00040. The website now usually shows the marked up rate rather than the base like it did in the past.

[Car-Addicted]

Originally Posted by texrex5

As in, you were asking for the rates, that were better at the time of the delivery, but the CA was not letting you use that and stuck to the one that was at the time of the order?

This is not state specific as your online application will require you to provide the state.
BMW Cantonsville
No I qualified for 1.9% on line but the finance guy who is the last guy you see had the paper filled out at 2.9%. Normally I would have just ignored this theft as the amount financed was low but this dealership had really pissed me off earlier. They tried to tell me that the sales tax was computed before the trade in was deducted. Nice try to rip me off for $1740.00 but I got up and walked out the front door. Odd how the sales manager caught me in the parking lot and apologized for the mistake.

Take a paper copy of your finance agreement with you to the dealer.

[vimalbmw]

I have couple of questions about the interest rate:

I booked 50e 4 weeks back with an interest rate of 6.29% (by filling out a paper credit application with CA 5.29+1% markup), couple of weeks later i got a 5.9% interest rate with a local credit union, went back to the dealer, and after some struggle, negotiated to match 5.9% last week.

50e is still pending and may be delivered in a week. I see that the rates for 2.99% for my zip code. I can go back and ask the dealer to run the credit check again to get the better rate, but I don't trust them to come back with a better rate or not as close to 2.99

So can i fill the credit application online at BMWFS to see what rate i am qualifying for and use that to go back and negotiate?

Also the zip code on BMWFS, is it the dealer zipcode or buyer zipcode?

[TurtleBoy]

Originally Posted by vimalbmw

I have couple of questions about the interest rate:

I booked 50e 4 weeks back with an interest rate of 6.29% (by filling out a paper credit application with CA 5.29+1% markup), couple of weeks later i got a 5.9% interest rate with a local credit union, went back to the dealer, and after some struggle, negotiated to match 5.9% last week.

50e is still pending and may be delivered in a week. I see that the rates for 2.99% for my zip code. I can go back and ask the dealer to run the credit check again to get the better rate, but I don't trust them to come back with a better rate or not as close to 2.99

So can i fill the credit application online at BMWFS to see what rate i am qualifying for and use that to go back and negotiate?

Also the zip code on BMWFS, is it the dealer zipcode or buyer zipcode?

No need to fill out a new credit app, doing a new one will not change your situation. You have a 90 day lock with the original one. All interest/MF rates are between the dealer and the customer so nothing from BMWFS is to be taken as a guaranteed rate. The 2.99 rate is a promotional rate as part of the Road Home sales event. At this point it appears that the rate will apply to previously ordered vehicles that take delivery in December. Just contact your CA and tell them you want to make sure you are getting the 2.99 (they may want to mark it up to 3.99) rate for the sales event.

The rates are based on dealer zip code/region.

[vimalbmw]

Originally Posted by TurtleBoy

No need to fill out a new credit app, doing a new one will not change your situation. You have a 90 day lock with the original one. All interest/MF rates are between the dealer and the customer so nothing from BMWFS is to be taken as a guaranteed rate. The 2.99 rate is a promotional rate as part of the Road Home sales event. At this point it appears that the rate will apply to previously ordered vehicles that take delivery in December. Just contact your CA and tell them you want to make sure you are getting the 2.99 (they may want to mark it up to 3.99) rate for the sales event.

The rates are based on dealer zip code/region.

Thanks for the detailed info TurtleBoy!!!

[vimalbmw]

I am from Maryland and my dealer at BMW of Rockville confirmed 2.9%+1% dealer markup = 3.9%