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      12-12-2019, 07:47 AM   #45
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Originally Posted by Kief View Post
Assuming Penfed's program continues into the new year (not sure why it wouldn't), you have to wait 30 days from when you join to receive the incentive (as per folks who recently joined and posted to this thread). I've been a member for years. Not familiar with leasehackr's calculator, but the $500 would come off from your negotiated price.
I’m going to sign up. Just ordered my X5 and would love the extra $500. So long as I am a member by the time I actually get delivery of the vehicle (late Jan), this should work right?

Also, Curious what kind of rate folks are getting for BMWFS. Seems like all dealers I’ve talked to are marking it up to 3.99. Should I insist on 2.99?

Last edited by Amsa7151; 12-12-2019 at 08:07 AM..
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      12-12-2019, 10:00 AM   #46
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Originally Posted by Amsa7151 View Post
Iím going to sign up. Just ordered my X5 and would love the extra $500. So long as I am a member by the time I actually get delivery of the vehicle (late Jan), this should work right?

Also, Curious what kind of rate folks are getting for BMWFS. Seems like all dealers Iíve talked to are marking it up to 3.99. Should I insist on 2.99?
It appears as long as you are a Penfed member for 30-days, you can then receive the code. As for APR, I just added a random Chicago dealer (it looks like you are from ChiTown?) to BMWUSA and searched offers and 2.99% was noted. Not sure why they are quoting you 3.99% unless your term is beyond 60 months.
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      12-12-2019, 10:29 AM   #47
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Quote:
Originally Posted by Kief View Post
It appears as long as you are a Penfed member for 30-days, you can then receive the code. As for APR, I just added a random Chicago dealer (it looks like you are from ChiTown?) to BMWUSA and searched offers and 2.99% was noted. Not sure why they are quoting you 3.99% unless your term is beyond 60 months.
They're probably just marking it up to get back some of the discount they're offering on the front end. My dealer did the same and I got them down to 3.49%. Given I'm financing only half of my car, it cost about $500 over the course of the loan so I factored that in when negotiating the front end discount which ended up at 10% off. End of the day, I probably could have gotten maybe 1% more off the total price of the car but they stuck to their guns and I didn't have the time to shop around.
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      12-12-2019, 11:01 AM   #48
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Originally Posted by atl_1M View Post
They're probably just marking it up to get back some of the discount they're offering on the front end. My dealer did the same and I got them down to 3.49%. Given I'm financing only half of my car, it cost about $500 over the course of the loan so I factored that in when negotiating the front end discount which ended up at 10% off. End of the day, I probably could have gotten maybe 1% more off the total price of the car but they stuck to their guns and I didn't have the time to shop around.
I think you are correct. I am not interested in financing more than the minimum anyway ($7,500) so will let them have it. Plan to pay off that $7,500 quickly anyway
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      12-12-2019, 11:40 AM   #49
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I think you are correct. I am not interested in financing more than the minimum anyway ($7,500) so will let them have it. Plan to pay off that $7,500 quickly anyway
I'm doing the same...first payment $7400, followed by $33.33 for the 2nd, 3rd, and 4th payment
But I wouldn't accept the higher apr, more principle than the money for me.
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      12-12-2019, 11:56 AM   #50
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Originally Posted by Kief View Post
I'm doing the same...first payment $7400, followed by $33.33 for the 2nd, 3rd, and 4th payment
But I wouldn't accept the higher apr, more principle than the money for me.
Haha. Good idea. I hadn't thought through the payment schedule but that I'm going to probably follow the same plan!
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      12-13-2019, 05:06 PM   #51
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Tried to open account and it didn't work... so tried to register for membership first. Only asked me for the 3 types of ID's and said will get back to me
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      12-13-2019, 07:17 PM   #52
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Tried to open account and it didn't work... so tried to register for membership first. Only asked me for the 3 types of ID's and said will get back to me
Had to call them but now I got my membership/account.

It seems like the max incentive is $2K though?

I already qualify for BMWFS $2000 APR credit, $1250 Loyalty. Not seeing an extra $500 offer anywhere (And I know membership needs 30 days in advance). Just not seeing the $500 offer.
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      12-13-2019, 07:40 PM   #53
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Originally Posted by karateboi87 View Post
Had to call them but now I got my membership/account.

It seems like the max incentive is $2K though?

I already qualify for BMWFS $2000 APR credit, $1250 Loyalty. Not seeing an extra $500 offer anywhere (And I know membership needs 30 days in advance). Just not seeing the $500 offer.
When you click on the BMW offer you should get a message that it can't generate the bonus cash offer. I would assume after 30 days that message will be replaced by the offer (if it is renewed next year).
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      12-14-2019, 02:16 AM   #54
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When you click on the BMW offer you should get a message that it can't generate the bonus cash offer. I would assume after 30 days that message will be replaced by the offer (if it is renewed next year).
Ok I did get that, I was just a bit confused about the lack of $500 mentioned anywhere. Let's hope we can get it on top of $3250 (if you are purchasing and not leasing).
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      12-14-2019, 04:47 AM   #55
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Originally Posted by karateboi87 View Post
Ok I did get that, I was just a bit confused about the lack of $500 mentioned anywhere. Let's hope we can get it on top of $3250 (if you are purchasing and not leasing).
You'll see the following fine print (from Post #1) after your membership has been active for 30-days (and as noted above, the if the program continues to run into the new year)

https://g05.bimmerpost.com/forums/sh...25&postcount=1
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      12-14-2019, 12:05 PM   #56
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Originally Posted by Kief View Post
You'll see the following fine print (from Post #1) after your membership has been active for 30-days (and as noted above, the if the program continues to run into the new year)

https://g05.bimmerpost.com/forums/sh...25&postcount=1
Ok cool. So even fine print is hidden until 30 days
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      12-28-2019, 03:34 PM   #57
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@kief

Dealer is saying that the penfed coupon is fleet money and not stackable with bmw fs loyalty .

They are eating the five hundred so I really don't care .it would be nice to let them know how to do it
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      12-28-2019, 03:58 PM   #58
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Originally Posted by arciga18 View Post
@kief

Dealer is saying that the penfed coupon is fleet money and not stackable with bmw fs loyalty .

They are eating the five hundred so I really don't care .it would be nice to let them know how to do it
https://www.bimmerpost.com/forums/sh...php?p=25541854
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      12-28-2019, 05:03 PM   #59
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I tried . No dice.

I'm okay with the rest of the deal so I don't really want to push it.
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      12-29-2019, 05:04 AM   #60
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I tried . No dice.

I'm okay with the rest of the deal so I don't really want to push it.
You should try harder, despite them still giving you $500 from somewhere else in the deal. That just means there's more money on the table. Penfed is relatively new to BMW, and dealers just aren't aware that it's identical to USAA that has long been the only domestic military discount.
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      12-29-2019, 08:28 AM   #61
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I signed up for PenFed myself early in December with a delivery ETA of early feb. Provided the BMWNA penfed promo continues into the new year, I hope my dealer doesn't give me friction on this...
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      12-29-2019, 10:48 PM   #62
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I signed up for PenFed myself early in December with a delivery ETA of early feb. Provided the BMWNA penfed promo continues into the new year, I hope my dealer doesn't give me friction on this...
I'm in the exact same boat. Fingers crossed. Are you going to bring this up to your CA as soon as we confirm the program is renewed for 2020?
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      12-30-2019, 11:11 AM   #63
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Had a Friendly neighborhood Dealer in PA confirm that the Penfed is type J per BMW bulletin and should be stackable with loyalty.

I asked my local store to check the bulletin and they continue to claim that it is not.


I tend to believe Kief and the friendly PA store. The only thing is that they are both in PA and I'm in IL. maybe it is a regional thing? That would be so confusing for everyone.
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      12-30-2019, 01:43 PM   #64
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I'm in the exact same boat. Fingers crossed. Are you going to bring this up to your CA as soon as we confirm the program is renewed for 2020?
my plan currently is to wait till sign on the car. I will do my homework in the meantime with PenFed and if they give me any grief about it, I'm gonna say they should just credit me the $500 off the top.
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      01-02-2020, 03:04 PM   #65
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Anybody has access to see if the program was renewed? Apparently I'm missing some documentation (Pretty sure I sent before) so my account is on hold and I can't see.
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      01-02-2020, 03:44 PM   #66
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Anybody has access to see if the program was renewed? Apparently I'm missing some documentation (Pretty sure I sent before) so my account is on hold and I can't see.
Hasn't been updated yet. I'll look again tomorrow
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