[TurtleBoy]

CoachLarry I have attached a Domestic Military incentive form for you to look at. Since you are not in the Western region the incentive will be $2k if you don't use BMWFS and $500 if you do.

Military 2022.pdf

[CoachLarry]

Originally Posted by TurtleBoy

CoachLarry I have attached a Domestic Military incentive form for you to look at. Since you are not in the Western region the incentive will be $2k if you don't use BMWFS and $500 if you do.

Attachment 2869847

Thank you Sir, much appreciated.

[CyberBear]

Interest rates at Navy Federal just increased. Not sure if it will change soon at other institutions but may want to lock in a rate now if you can.

The rate I got is good for 90 days from approval.

I didn't go with DCU because they couldn't explain why I needed to have my credit run to just open a savings account (and again for the car loan). I'm ok with one pull but after dealing with credit fraud I know 2 more pulls will lower your credit score and stays on your report for 2 years.

[CoachLarry]

Originally Posted by CyberBear

Interest rates at Navy Federal just increased. Not sure if it will change soon at other institutions but may want to lock in a rate now if you can.

The rate I got is good for 90 days from approval.

I didn't go with DCU because they couldn't explain why I needed to have my credit run to just open a savings account (and again for the car loan). I'm ok with one pull but after dealing with credit fraud I know 2 more pulls will lower your credit score and stays on your report for 2 years.

I'd assume they will go up. I got 2.94 for 72 mos with a .25 discount for direct deposit. Finance officer said they couldn't beat it.

[Ultbruin]

Anybody here have any experience with Consumers Credit Union? Rates seem competitive.
https://www.myconsumers.org/rates?id=6


Auto Loan Details >

Loan Term APR - 2020 to Newer APR - 2016 to 2019**
0 - 60 months 1.99%* 2.74%*
61 - 72 months 2.74%* 3.39%*
73 - 84 months 3.74%* 4.09%*

[dchen2]

For May 2022, looks like the BMW FS APR for the X5 incremented up from 2.99% to 3.49%.

https://www.bmwusa.com/special-offers.html

The Fed just raised the reserve rate another 0.5% yesterday. It wouldn't surprise me to see BMW FS "special offer" aprs increase inline with future Fed interest rate hikes.

[Coolked]

When I received my allocations for both my M3 and X5 in March, the BMWFS rate was 2.9 (when I was added to the m3 waitlist in October 2021 that rate was 0.9!).

I spoke to the finance manager last week and he were offering 3.9% (marking up the 2.9%), but I negotiated him down to 2.9% for both cars. Since the m3 is not coming for a while, he said I'm "rate-locked" for the m3, regardless of how long it takes. Good thing is I have that in writing because I know rate locks are only good for a certain period of time.

[White340]

Originally Posted by Coolked

When I received my allocations for both my M3 and X5 in March, the BMWFS rate was 2.9 (when I was added to the m3 waitlist in October 2021 that rate was 0.9!).

I spoke to the finance manager last week and he were offering 3.9% (marking up the 2.9%), but I negotiated him down to 2.9% for both cars. Since the m3 is not coming for a while, he said I'm "rate-locked" for the m3, regardless of how long it takes. Good thing is I have that in writing because I know rate locks are only good for a certain period of time.

I was told rate locks were good for 120 days. I rate locked at 2.99 a couple weeks ago on an order.

[pgk500]

Originally Posted by White340

I was told rate locks were good for 120 days. I rate locked at 2.99 a couple weeks ago on an order.

I was approved for 5.79 for 60 months. My experian is 703 but my CA is going with trans union of 684. So I need to follow-up and see if they can use my experian score which I though BMW did and with the higher score to get the best rate.

[arciga18]

Originally Posted by pgk500

I was approved for 5.79 for 60 months. My experian is 703 but my CA is going with trans union of 684. So I need to follow-up and see if they can use my experian score which I though BMW did and with the higher score to get the best rate.

Yea easy to do. You should get approved at the lower rate no questions asked .

[pgk500]

Originally Posted by arciga18

Yea easy to do. You should get approved at the lower rate no questions asked .

I did check and they did not budge. However the dealer recommended to get financing from the CU if I am able to get lower rate. But the said they used my experian score.

[arciga18]

I would take my business elsewhere probably. Especially in this market with limited discounts.


The conversation should have gone like this with the finance manager:

I need you to pull all 3 scores and call BMWFS. This is something they have to do . Call BMWFS and tell them to consider my xxx score for the application. My 703 score meets the BMWFS requirement for top tier .

What I Suspect is going on that they do not want to give you the base rate . I don’t know what the base rate was when you applied .

[AbleDanger]

Tower FCU is offering lower rates, according to some reports of folks at my workplace. If you're not directly eligible, you can make a $35 donation to their Tower Cares foundation, and then apply to be a member, once that's done, then apply for a loan. Several folks at work ended up with APR in the 2% range. I got membership approved the other day, and am waiting for loan application to happen.

If they get a good rate, I plan on going to see if my local credit union here in Seattle will match - they already have a good rate, but I will see if they can match or beat it. I'd prefer to give my business to somewhere local, but when thousands of dollars is on the line...

[TurtleBoy]

Originally Posted by AbleDanger

Tower FCU is offering lower rates, according to some reports of folks at my workplace.

The look lower than most we have seen lately.

[paul21]

FWIW I was given 4.99% on BMWFS, NA for the 45e on 12/10/2022. I think it was marked up from 3.99, but I didn't bother haggling. They gave me $750 corp discount, and 3 months interest on the amount I financed is $650, so I'll just pay it off in 3 months and we can all be happy I guess.

[memphisgrizzlies1986@gma]

I just got 4.99 which is better than anything else I've found.

[AbleDanger]

Originally Posted by TurtleBoy

The look lower than most we have seen lately.

Yeah, the lowest is 2 full points off what my local CU is offering. So we'll see what it comes in at. Then I'll see if the local will match.

[Westch21]

I got a 66 month loan at 3.49% at Berkshire Bank (www.berkshirebank.com). The best BMW could do is 72 months 5.39%.

[Buzios]

Thanks for the information. Some of these rates look really aggressive.

Does anyone know if refinancing out of BMWFS has any effect on the CCA rebate? Could it cause a delay or outright denial?

[gqxxflip]

Originally Posted by Buzios

Thanks for the information. Some of these rates look really aggressive.

Does anyone know if refinancing out of BMWFS has any effect on the CCA rebate? Could it cause a delay or outright denial?

From CCA website:

TERMS AND CONDITIONS

A membership requirement may be met in one of two ways:

A membership of one year (365 days) or more immediately preceding the delivery date of the vehicle is required to take advantage of this program. A member in good standing cannot have any lapse in membership during that 12-month period.
A non-refundable membership of three or more years can be purchased to reduce the 12-month waiting period to 6 months.

Vehicles must be purchased/leased via an authorized U.S. BMW center, sales documents and vehicle title must be in eligible member’s name.
The BMW CCA/CCCA allowance is non-transferable and is offered to eligible members and associate members only.
If an eligible member co-signs for a vehicle with a non-member, both must reside in the same household and all documents must contain the member’s name and signature. However, only one submission will be honored.
Through this program, eligible participants may redeem one reward per calendar year (1/1 through 12/31) per member. *Note- Reward not redeemable under both memberships.
Members are eligible to receive one reward per member, per VIN.
Eligible member or associate member who purchases their off-lease vehicle via the CPO Program is not eligible for payment for same VIN as a CPO vehicle.
Eligible member must be in possession of the vehicle at time of application and must remain in possession of the vehicle until the application is fully processed or for a minimum of six months, whichever comes first.
US Delivery. BMW CCA/CCCA Membership Reward Application for U.S. delivery must be completed in its entirety and postmarked within 60 days of U.S. vehicle delivery date.
Check requests must be received via email or registered/certified mail (faxes are not accepted). All documents must be legible. A confirmation receipt will be emailed within 7 business days.
BMW CCA is not responsible for late, lost or misdirected applications or checks.
BMW NA reserves the right to make program changes without prior notification.

ELIGIBLE VEHICLES

New passenger vehicles (including Performance Center Delivery), SAV’s & newly Certified Pre-Owned Vehicles

I don't see anything saying that a refi would disqualify you. You can probably just reach out to bmw CCA rep, and get confirmation about it.

[Buzios]

Same here. I also don’t see any issues on the surface. I left the CCA person in charge of rebates a message, but haven’t heard back yet. Will keep this group posted once I do hear back

[TurtleBoy]

Originally Posted by Buzios

Thanks for the information. Some of these rates look really aggressive.

Does anyone know if refinancing out of BMWFS has any effect on the CCA rebate? Could it cause a delay or outright denial?

It will have no effect on the rebate since it is not affiliated with BMWFS. All they care about is that you got a vehicle that meets the requirements and you meet the eligibility requirements, how you pay for it doesn't matter.