[juancasala]

Originally Posted by nomoracin

I'm not sure if anyone has mentioned this yet or not, but I wanted to report back something that was interesting to me with my experience yesterday…

I was under the impression that I would have to use PenFed's financing (2.39 for 72mo) in order to get the $3250 rebate, but that was not true! I was allowed to use any lender EXCEPT for BMW Financial. It was a good thing that I had brought a separate pre-approved loan from Northwest Fed (1.79 for 72mo) because they were able to beat that too (1.59 for 75mo).

I didn't have to go through TrueCar or anything either. I just generated my code online and sent them to my CA…done.

Agreed - any lender except BMWFS - my guess is this discount takes away from the margin BMW would use otherwise to “buy-down” the interest rate they offer (I’m just speculating, because why else would they not want to do a loan…)

The TrueCars is if you also go with PenFed for financing; that lowered their rate from 1.99% to 1.49% for 60 mo’s / 5 years.

That’s a great rate you got yourself!

[Flying Ace]

I was able to jump through the hoops and get 0.99. it couldn't have been any easier.

Just checking it, the membership rebate generates on day 61 correct?

[S_McTowelie]

Originally Posted by Flying Ace

I was able to jump through the hoops and get 0.99. it couldn't have been any easier.

Just checking it, the membership rebate generates on day 61 correct?

How many months at 0.99%? What were the hoops you had to jump through?

[Flying Ace]

Originally Posted by S_McTowelie

How many months at 0.99%? What were the hoops you had to jump through?

i don't recall, but up to 4 years I think...

Yes there's hoops, but it's easy and it was laid out in another thread. Your dealer needs to be part of truecar network first.

[gunjanshah21]

Hi,

My car just got to the dealership and got off the phone with the Finance person who said he needs the PenFed code in order to process the rebate. I don't have the code since it hasn’t been 60 days since my account was open at PenFed.

Currently my options are:
1. Call PenFed to see if they can send me the code ahead of the 60 day period
2. Convince my dealer what you all have been saying in this thread that the PenFed rebate is just bring your own financing rebate and they should honor the discount as long as the loan is processed with full payment.

I'll call PenFed in the morning for #1 but does anyone have experience with option #2 and offer me any guidance?

Thanks a lot!

[juancasala]

Originally Posted by gunjanshah21

Hi,

My car just got to the dealership and got off the phone with the Finance person who said he needs the PenFed code in order to process the rebate. I don't have the code since it hasn’t been 60 days since my account was open at PenFed.

Currently my options are:
1. Call PenFed to see if they can send me the code ahead of the 60 day period
2. Convince my dealer what you all have been saying in this thread that the PenFed rebate is just bring your own financing rebate and they should honor the discount as long as the loan is processed with full payment.

I'll call PenFed in the morning for #1 but does anyone have experience with option #2 and offer me any guidance?

Thanks a lot!

That sounds tough to pull off - those codes seem to be electronically submitted so the dealer gets the rebate from BMW NA.

[Gstahl]

If you are a vet, bmw has a non-penfed program using id.me for military discounts (maybe they will use this in lieu of penfed in the future)

If you are, try this…

https://www.bmwusa.com/special-offer...incentive.html

Worked super easy for me to get the discount. I am also a penfed member but this was much easier to get the customer id and offer code.

Hope that might help.

Geoff

[Gstahl]

I think what folks are saying is this is "supposed" to be a military/vet discount but with the switch to penfed it not longer is, it is a test of being a penfed member for 60 days (see above for how to get the military discount without joining penfed)

They used to use USAA membership to verify, where you had to be at least related to a military or former military member. Switching to penfed might have thought/seemed equivalent to USAA… if someone was a penfed member they "should" be related in some way to a vet…. But obviously that is not the case, thus there is effectively a loop hole (60 day penfed membership) as one does not have to be related to a current or former military member to join.

So…

It is not just any financing (then it would be a discount for everyone). It is supposed to be for military for which being a penfed member seemingly was supposed to be the test, though in reality it is just a test of if you can join penfed at least 60 days prior to completing the purchase.

I hope they figure all this out someday to actually have a military and veteran discount.

My 2 cents.

[TurtleBoy]

Originally Posted by Gstahl

I think what folks are saying is this is "supposed" to be a military/vet discount but with the switch to penfed it not longer is, it is a test of being a penfed member fir 60 days (see above for how to get the military discount without joining penfed)

They used to use USAA membership to verify, where you had to be at least related to a military or former military member. Switching to penfed might have thought/seemed equivalent to USAA… if someone was a penfed member they "should" be related in some way to a vet…. But obviously that is not the case, thus there is effectively a loop hole (60 day penfed membership) as one does not have to be related to a current or former military member to join.

So…

It is not just any financing (then it would be a discount for everyone). It is supposed to be for military for which being a penfed member seemingly was supposed to be the test, though in reality it is just a test of if you can join penfed at least 60 days prior to completing the purchase.

I hope they figure all this out someday to actually have a military and veteran discount.

My 2 cents.

Your understanding is absolutely correct although PenFed has been used prior to USAA closing. One of the ways to qualify for the Domestic Military discount is to be a PenFed member for at least 60 days.

[GrussGott]

Originally Posted by TurtleBoy

One of the ways to qualify for the Domestic Military discount is to be a PenFed member for at least 60 days.

Said differently, one of the ways to qualify for the PenFed Rebate is to be active/former military validated through ID.me, thus skipping the 60 day PenFed requirement for non-military.

Or said a 3rd way, validating through ID.me instantly qualifies active/former military for the PenFed rebate, whereas non-military have to be a PenFed member for at least 60 days.

Does that all seem accurate?

[Gstahl]

Originally Posted by GrussGott

Said differently, one of the ways to qualify for the PenFed Rebate is to be active/former military validated through ID.me, thus skipping the 60 day PenFed requirement for non-military.

Or said a 3rd way, validating through ID.me instantly qualifies active/former military for the PenFed rebate, whereas non-military have to be a PenFed member for at least 60 days.

Does that all seem accurate?

Yes, as far as I understand. So vets/military members who might be running up against the 60 days, can use ID.me to get the same needed codes for the discount.

** by the way, credit where credit I due, I saw the id.me/BMW link on this site in one of the discussions so whoever posted that originally, thanks!!!

[TurtleBoy]

Originally Posted by Gstahl

Yes, as far as I understand. So vets/military members who might be running up against the 60 days, can use ID.me to get the same needed codes for the discount.

** by the way, credit where credit I due, I saw the id.me/BMW link on this site in one of the discussions so whoever posted that originally, thanks!!!

Ignoring the post you responded to, thankfully I only see his drivel when someone responds to his word game nonsense, there is a third way to get the domestic military discount and that is to go through TrueCar. They use ID.me also and generate the certificate.

[GrussGott]

Originally Posted by TurtleBoy

Ignoring the post you responded to, thankfully I only see his drivel when someone responds to his word game nonsense

Yet you ALWAYS respond, and you ALWAYS whine

We get it, Turt, you believe confusing dealerspeak is better for normal people just trying to get what every other manufacturer calls "the penfed rebate"

Plain-speak:The PenFed Rebate

(1.) Available instantly to any current/former military through ID.me

(2.) Available to non-military who've been members of PenFed for >60 days

[lely09]

So to confirm you can get penfed credit if you are non-military, but have to be a member for +60 days?

[TurtleBoy]

Originally Posted by lely09

So to confirm you can get penfed credit if you are non-military, but have to be a member for +60 days?

That is correct. One of the ways to qualify for the Domestic Military discount is to be a member of PenFed for more than 60 days.

[GrussGott]

Originally Posted by lely09

So to confirm you can get penfed credit if you are non-military, but have to be a member for +60 days?

Yup, the PenFed incentive works for anyone for many brands, not just BMW; from PenFed's website:



The two current PenFed requirements for BMW are:

(1.) You be a member for > 60 days, and

(2.) You not use BMWFS financing

UNLESS, you're current or former military in which case you can 'skip the line' and simply apply via ID.me right away.

[mpd79]

FYI when I'm looking at the Penfed page it says 'financed through BMWFS' now

[sk701]

Originally Posted by mpd79

FYI when I'm looking at the Penfed page it says 'financed through BMWFS' now

I am not sure; but language appears the same for me.

-$500 Incentive for Lease and Retail Loan financed through BMW Financial Services. Exception: BMW FS Lease not available for i3.

Cash incentives are not applicable for vehicles leased/financed through BMW Financial Services.

[Desi2k4]

Originally Posted by S_McTowelie

How many months at 0.99%? What were the hoops you had to jump through?

Originally Posted by Flying Ace

i don't recall, but up to 4 years I think...

Yes there's hoops, but it's easy and it was laid out in another thread. Your dealer needs to be part of truecar network first.

PenFed Auto Loan with Truecar is 0.99% rate for November is for 36 months (3 years). Back in September it was 0.99% 60 months.

[dallen499]

Originally Posted by allinon72

Yes. From what I understand, BMW basically outsourced their military discount program to Penfed in lieu of an in-house program. So all dealers should accept it, but of course some dealers are better than others at interpreting discounts that their own manufacturer offers.

I will note that BMW seems to be moving towards ID.me for military discounts, so I don't expect the Penfed program to be around for long.

I just went on the BMW site and used ID.me to generate an offer code in which they emailed to the dealer. Not sure what happens after this...

[TurtleBoy]

Originally Posted by dallen499

I just went on the BMW site and used ID.me to generate an offer code in which they emailed to the dealer. Not sure what happens after this...

That is all you should have to do since they will now have the customer ID and offer code to process the rebate. Just to be sure they received it, contact your CA.

You can also go to TrueCar and once you verify with ID.me then you can print/download an offer form to give to your dealer.

[dallen499]

I don't expect to take delivery until mid-Feb on my 45e. Sounds like I'll need to re-do offer code for the discount if it ends in January? Would be a big bummer if they renew at a much lesser amount!