BMWFS Credit Application

leasehackr · 11-28-2023, 01:52 PM

Do you do the BMWFS application on BMWFS website or the dealer website?

I see the dealer has their own credit application as well

which one? Not sure how dealers protect your information.

Does anyone know loyalty MF?

LDT · 11-28-2023, 04:16 PM

Quote:

Originally Posted by leasehackr

Do you do the BMWFS application on BMWFS website or the dealer website?

I see the dealer has their own credit application as well

which one? Not sure how dealers protect your information.

Does anyone know loyalty MF?

BMWFS app can be done online via the dealer who will email it to you. Same thing with dealer app so he can shop other lenders for you. Last I heard MF was .0021.

TurtleBoy · 11-28-2023, 05:58 PM

Do it online and it will be sent to the dealer.

https://www.bmwusa.com/financial-services.html

leasehackr · 11-29-2023, 02:29 AM

Quote:

Originally Posted by TurtleBoy

Do it online and it will be sent to the dealer.

https://www.bmwusa.com/financial-services.html

Done

looks like 4 months lock now from the credit app.

X5 schedule for 12/4, will take delivery on 1/7/24.

Would be using best rate from Nov - Jan

TurtleBoy · 11-29-2023, 09:21 AM

Quote:

Originally Posted by leasehackr

Done

looks like 4 months lock now from the credit app.

X5 schedule for 12/4, will take delivery on 1/7/24.

Would be using best rate from Nov - Jan

Very good. Yes, the locks used to be 90 days on the West Coast and 60 elsewhere but with the delays during COVID they increased it.

arciga18 · 12-04-2023, 06:15 AM

The BMWFS credit app used to be the sweet spot for confirming base rates for finance loans after the BMW USA website stopped posting rates (dealer lobbying for sure)

For example I just checked Chicago area dealer for 40i and it shows 3.99 for 60 month.

I didn't even submit the app. Check your store specifically because rate are regional.

Does anyone know if that 3.99 is already marked up? I know in the past the BMWFS credit app would show the base rate but now I am thinking it is marked up.

YustonUser · 12-04-2023, 07:41 AM

That’s the marked up base 2.9% rate from BMW. I’ve seen it as 3.9% here in TX as well. That’s what dealers will offer

texrex5 · 12-04-2023, 08:33 AM

Quote:

Originally Posted by LDT

BMWFS app can be done online via the dealer who will email it to you. Same thing with dealer app so he can shop other lenders for you. Last I heard MF was .0021.

Isn’t the base rate .0018 rn?

TurtleBoy · 12-04-2023, 09:25 AM

Quote:

Originally Posted by texrex5

Isn’t the base rate .0018 rn?

Yes it is.

texrex5 · 12-04-2023, 10:24 AM

Quote:

Originally Posted by TurtleBoy

Yes it is.

So, that is the number we should push CA to give us right?
BMWFS website only mentions financing APR, including the zipcode specific markup, but nothing about the lease MF. Considering financing APR is on the website, I believe it would be hard to make CA get us the base 2.99% rate if BMWFS shows 3.99% already, but how to find out the base MF number?
Are the lease MF(the lease interest rate) and the finance APR go hand in hand by any chance?

First time leasing, so still learning about these small details.

TurtleBoy · 12-04-2023, 10:44 AM

Quote:

Originally Posted by texrex5

So, that is the number we should push CA to give us right?
BMWFS website only mentions financing APR, including the zipcode specific markup, but nothing about the lease MF. Considering financing APR is on the website, I believe it would be hard to make CA get us the base 2.99% rate if BMWFS shows 3.99% already, but how to find out the base MF number?
Are the lease MF(the lease interest rate) and the finance APR go hand in hand by any chance?

First time leasing, so still learning about these small details.

No, there is no correlation between the APR and the MF. The best source of information for MF, RV and any incentives for your region is the Edmunds forum. There are Edmunds employees there that get the information from the manufactures and provide it.

https://forums.edmunds.com/discussio...and-prices/p12

As far as what you get depends on how you negotiate, whether you want to walk away from the deal over it, how flexible the dealer is etc. As part of your negotiations it is best to mention the base rate and that is what you need in order to make a deal. Many dealers will say no to that and at that point you have to decide what is best to do. Some dealers will relent or at least come down a bit.

texrex5 · 12-04-2023, 10:51 AM

Quote:

Originally Posted by TurtleBoy

No, there is no correlation between the APR and the MF. The best source of information for MF, RV and any incentives for your region is the Edmunds forum. There are Edmunds employees there that get the information from the manufactures and provide it.

https://forums.edmunds.com/discussio...and-prices/p12

As far as what you get depends on how you negotiate, whether you want to walk away from the deal over it, how flexible the dealer is etc. As part of your negotiations it is best to mention the base rate and that is what you need in order to make a deal. Many dealers will say no to that and at that point you have to decide what is best to do. Some dealers will relent or at least come down a bit.

This helps a lot. Thanks for explaining

AlexMe · 02-27-2024, 01:57 PM

BMW Financial services now shows 2025 X5/ X6 model with APR: 3.34%

TurtleBoy · 02-27-2024, 01:59 PM

Quote:

Originally Posted by AlexMe

BMW Financial services now shows 2025 X5/ X6 model with APR: 3.34%

Welcome to the forum. Can you please provide a link? Or are you saying what they show while ding the credit app?

AlexMe · 02-27-2024, 02:08 PM

Quote:

Originally Posted by TurtleBoy

Welcome to the forum. Can you please provide a link? Or are you saying what they show while ding the credit app?

Thank you

Its on bmw usa :

FINANCE & INCENTIVES

Apply for Financing

I select 2025 X6.Ill add a screenshot

https://ibb.co/wS7nrsC

TurtleBoy · 02-27-2024, 02:54 PM

Quote:

Originally Posted by AlexMe

Thank you

Its on bmw usa :

FINANCE & INCENTIVES

Apply for Financing

I select 2025 X6.Ill add a screenshot

Ok thanks, that is the credit app I was referring to. Do not count on getting that rate as it depends on the dealer, timing, actual base, etc. The current base rate is 5.29% so it seems odd they would drop the rate for a new MY.

x5forme · 02-27-2024, 08:21 PM

I do not see 3.34% for X5 or X6. Could this be coming on March 1st?, just got released early and quickly rolledback?

TurtleBoy · 02-27-2024, 08:29 PM

Quote:

Originally Posted by x5forme

I do not see 5.29% for X5 or X6. Could this be coming on March 1st?, just got released early and quickly rolledback?

It has been 5.29%.

x5forme · 02-27-2024, 08:31 PM

Quote:

Originally Posted by TurtleBoy

It has been 5.29%.

Meant to say 3.34%

TurtleBoy · 02-27-2024, 08:58 PM

Quote:

Originally Posted by x5forme

Meant to say 3.34%

It is still there. You need to select model and dealer and then Traditional Financing.

Danpaw · 02-27-2024, 10:37 PM

I’m still seeing 5.29% for Illinois.

LuckyBrand · 02-28-2024, 08:48 AM

I just checked and 2025 X5 40i for Michigan is 3.34% for 60 months. That would be nice if it's true.

11-28-2023, 01:52 PM	#1
leasehackr Captain 465 Rep 968 Posts Drives: X5, 530e Join Date: May 2013 Location: US of A iTrader: (0)	BMWFS Credit Application Do you do the BMWFS application on BMWFS website or the dealer website? I see the dealer has their own credit application as well which one? Not sure how dealers protect your information. Does anyone know loyalty MF?
	Appreciate 1 LDT1539.50 Tweet Quote

11-28-2023, 05:58 PM	#3
TurtleBoy General 13276 Rep 19,807 Posts Drives: 2019 X5 40i,2021 M340i Join Date: Jan 2019 Location: Colorado iTrader: (0)	Do it online and it will be sent to the dealer. https://www.bmwusa.com/financial-services.html __________________ 2021 BMW G20 M340i xDrive - Verde Ermes/Black - 03/2024.40 2019 BMW G05 X5 xDrive40i - Phytonic Blue/Cognac - 11/2023.50
	Appreciate 1 leasehackr465.00 Quote

12-04-2023, 06:15 AM	#6
arciga18 Brigadier General 1729 Rep 3,654 Posts Drives: LeMans/ Chestnut E90, RWD Join Date: Apr 2012 Location: Chicago iTrader: (3)	The BMWFS credit app used to be the sweet spot for confirming base rates for finance loans after the BMW USA website stopped posting rates (dealer lobbying for sure) For example I just checked Chicago area dealer for 40i and it shows 3.99 for 60 month. I didn't even submit the app. Check your store specifically because rate are regional. Does anyone know if that 3.99 is already marked up? I know in the past the BMWFS credit app would show the base rate but now I am thinking it is marked up.
	Appreciate 0 Quote

12-04-2023, 07:41 AM	#7
YustonUser New Member 15 Rep 24 Posts Drives: BMW X5 Join Date: Nov 2023 Location: Houston, TX iTrader: (0)	That’s the marked up base 2.9% rate from BMW. I’ve seen it as 3.9% here in TX as well. That’s what dealers will offer
	Appreciate 1 arciga181728.50 Quote

02-27-2024, 01:57 PM	#13
AlexMe New Member 3 Rep 9 Posts Drives: Lexus Join Date: Feb 2024 Location: Bronx iTrader: (0)	BMW Financial services now shows 2025 X5/ X6 model with APR: 3.34%
	Appreciate 0 Quote

02-27-2024, 08:21 PM	#17
x5forme Enlisted Member 5 Rep 30 Posts Drives: Tesla Model S 100D Join Date: Feb 2024 Location: Bay Area, CA iTrader: (0)	I do not see 3.34% for X5 or X6. Could this be coming on March 1st?, just got released early and quickly rolledback? Last edited by x5forme; 02-27-2024 at 08:30 PM..
	Appreciate 0 Quote

02-27-2024, 10:37 PM	#21
Danpaw Enlisted Member 33 Rep 32 Posts Drives: 2024 BMW 430i Convertible Join Date: Nov 2023 Location: Chicago iTrader: (0)	I’m still seeing 5.29% for Illinois.
	Appreciate 0 Quote

02-28-2024, 08:48 AM	#22
LuckyBrand Captain 1317 Rep 880 Posts Drives: BMW X5 F15, G05 X5, G80 M3 6sp Join Date: Dec 2020 Location: Michigan iTrader: (0)	I just checked and 2025 X5 40i for Michigan is 3.34% for 60 months. That would be nice if it's true.
	Appreciate 0 Quote