[Phasers]

Originally Posted by 11001X101

Does anyone know if $500 + 3.99% means you have to pre pay all the interest?

No, you do not pre-pay interest. It is calculated daily.

[TurtleBoy]

Originally Posted by 11001X101

Does anyone know if $500 + 3.99% means you have to pre pay all the interest?

No, you don't pre-pay interest. You can pay it off at anytime without penalty.

[bgconley]

Well, consider me extremely frustrated. Purchased an X5 xdrive40i on April 30th at the 5.49 or whatever it was...next day, less than 24 hours later it's 3.99. Dealer says sorry, tough luck. I asked if they'd talk to BMWFS about the situation. Said nope, is what it is.

So...out of principle (call me vindictive) I'm immediately refinancing for exactly the same rate at PenFed. I'd rather give them my interest than BMWFS at this point.

[TurtleBoy]

Originally Posted by bgconley

Well, consider me extremely frustrated. Purchased an X5 xdrive40i on April 30th at the 5.49 or whatever it was...next day, less than 24 hours later it's 3.99. Dealer says sorry, tough luck. I asked if they'd talk to BMWFS about the situation. Said nope, is what it is.

So...out of principle (call me vindictive) I'm immediately refinancing for exactly the same rate at PenFed. I'd rather give them my interest than BMWFS at this point.

They aren't Costco where you get the sale price if it goes on sale next month.

The good part is that when you are out enjoying your new X5 you won't be thinking of the financing.

[Phasers]

Originally Posted by bgconley

Well, consider me extremely frustrated. Purchased an X5 xdrive40i on April 30th at the 5.49 or whatever it was...next day, less than 24 hours later it's 3.99. Dealer says sorry, tough luck. I asked if they'd talk to BMWFS about the situation. Said nope, is what it is.

So...out of principle (call me vindictive) I'm immediately refinancing for exactly the same rate at PenFed. I'd rather give them my interest than BMWFS at this point.

You did the deal on April 30th knowing exactly what you were signing for. No one knew what May incentives and promos would be.

If the rate went up on May 1 to 6.99% would you be ok with them forcing you to the higher rate? Or if the incentives had gone down, would you be ok with the dealer sending you a bill for the difference?

Refinancing is your right (and may certainly be the better financial option in your case), but the vindictiveness seems unjustified here. Also, with how quickly you are refinancing the dealer will get a chargeback from BMWFS, so don't be surprised if that sours your long term relationship with them (if that matter to you).

[MileHiGolfer]

Nice that they added the loyalty lease cash and 39 month lease for 2025's in May. My 21 M50i matures later this month and I'm struggling to pull the trigger on a new 40i as I can't stomach the payments on a M60i vs what mine was. May just buy my M50i and keep it a year in hopes that leases get better, or at least extend it a couple of months. Anyone have hopes that the numbers will improve in June and July, or a year from now? Residuals are particularly rough right now.