10-08-2021, 11:51 AM | #1 |
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PenFed question
Im a little confused on the step by step process of buying through PenFed.
I custom ordered an X5 about a month ago, which got delivered to the dealership today. I opened my penfed account on 8/23. 60 day mark is 10/23, so I know I can't get the $3,250 rebate code until 10/23. My question is this- should I apply for the loan now and have the check sent to me, and then on the 23rd print the $3,250 rebate code and bring it to the dealer? Or do I have to wait until the 23rd to start the loan application process, and then have to wait for the check to be delivered to my house days later? |
10-08-2021, 12:28 PM | #2 |
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For the $3250 PenFed discount, you don't need to buy the car through PenFed (get a loan through them). You just need to not use BMWFS (since it drops to $500). The PenFed discount and using PenFed to finance your car are not related and you don't need to do one for the other.
Since the two are not related, you can apply for a PenFed auto loan preapproval now and the blank check will be sent to you. It's good for 60 or 90 days. Or apply for any auto loan preapproval and use that, and the discount will still work. |
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GrussGott18183.50 |
10-08-2021, 03:39 PM | #3 |
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Got a related question: when do I need to have the PenFed discount code during the process? When I sign the purchase contract? And if I build one online and have it delivered to a local dealership, when would I sign the contract?
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10-08-2021, 05:14 PM | #4 | |
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Either way, the dealer is selling you a car - either from their lot or from their allocation - and either way you have to pay for it before you can drive away (or have it shipped away) ... and either way the dealer will tell you when it's time to sign the docs. AFAIK there's no "online ordering" like, say, with Tesla. In any event, before you go in to sign the docs to buy the car (and/or agree to do it virtually), print out your PenFed docs and present them to the dealer when you show up (physically or virtually). Even if you buy from a dealer 5 states away and agree to virtually sign all the docs, you're still buying from a dealer. The shipping part is no different than if you paid a shipper to ship it to Hawaii. Occasionally the dealers will agree to do "courtesy delivery" for free, i.e., dealer-to-dealer shipping as part of routine batches of vehicles shipping between those dealers anyway, but that seems to be less and less available. Unless it's Courtesy Delivery, if a dealer is shipping your car to another dealer, AFAIK it's pretty much no different than you doing it and, in that case, I'd rather select the shipper and all of the options (covered vs not, etc etc) Having done that a few times, it can get damn tricky, it can be a bit shady, and it's not the smoothest. In 2014 I had my M4 show up so dirty it looked like it was made out of clay.
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Last edited by GrussGott; 10-08-2021 at 05:25 PM.. |
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10-08-2021, 08:47 PM | #5 | |
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10-08-2021, 10:57 PM | #6 |
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Forget PenFed. Go to the Military Discount page fill it out and specify your dealer. They will get an lead generation email with your info and discount code. Then go to your CU and set up financing.
Military incentive, https://www.bmwusa.com/special-offer...incentive.html |
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10-08-2021, 11:18 PM | #7 | |
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Thanks for the explanation. I read some other posts and it seems like I would select the options and packages online, and I would then need to send the "build code" to a dealer who has allocation. I'll pay a deposit when the dealer orders the car for me, and I'll sign the contract when the car gets built and delivered to the dealer's lot.
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10-08-2021, 11:27 PM | #8 | |
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The SA uses the code to order the car configured the way you want with less chance of communication or data entry mistakes. I would still ask for the order guide to make sure your not missing something that the online tool didn't offer. |
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10-09-2021, 12:22 AM | #9 | ||
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(1.) Get the order guide from this site, and learn all the codes for the config you want. Hopefully you won't need to use them, but it's good to know them if a problem comes up + it's good to validate every option you have and learn what can't be ordered with what. (2.) Use the online builder but realize, to omasou's point, it's just a notes tool really -- a simple way to package up all the config codes & send to your dealer -- and it may be wrong and/or not have the latest data ... which is especially important these days as things are disappearing. Be prepared to double check everything! (3.) Once you validate your dealer has an allocation, and you two agree on pricing, he/she should be able to input the config AND IMMEDIATELY GIVE YOU THE PRODUCTION NUMBER! (technically they can give it to you as soon as they agree to give you an allocation, the config will just be wrong at that point, i.e., not your config yet) (4.) If the dealer doesn't immediately give you the production number, walk ... but if you do get it, then also ask to be emailed a screen shot or print out of the vehicle inquiry screen(s) that shows your car with YOUR config. Validate everything, especially all the configs. (5.) Go to mygarage.bmwusa.com and input your production number - you should see your vehicle with all of the options / the config you ordered and from there you can use the site to track production and/or call the 1877 genius number. Good luck!!
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Last edited by GrussGott; 10-09-2021 at 12:27 AM.. |
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Laura41331.00 |
10-09-2021, 01:12 AM | #10 | |
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Noted. Thanks!
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10-09-2021, 01:15 AM | #11 | |
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I think any PenFed account holder (not necessarily a military member) can get the PenFed discount, but military discount only applies to military member?
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10-09-2021, 11:19 AM | #12 | |
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As mentioned numerous times in various threads, there are three ways to get the BMW Domestic Military discount - the BMW web site, the TrueCar website and the PenFed website.
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10-10-2021, 07:28 PM | #13 |
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The PenFed certificate expires on Jan 3rd and it says I have to take delivery and wondering what if I get my car After Jan 3rd. With the custom builds for 45e taking time and not having an allocation yet, I am thinking I won't get the car till next year.
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10-10-2021, 07:40 PM | #14 |
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The Domestic Military incentive is a year-long incentive that is renewed each January. It is unlikely it won't get renewed next year although now that BMW started processing it on their own website there is a chance, probably small, that it would get pulled from PenFed.
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10-10-2021, 08:48 PM | #15 | |
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10-11-2021, 03:29 PM | #16 | |
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Thanks for the clarification!
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10-11-2021, 03:41 PM | #17 |
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Ok, so... I placed the order, negotiated the price of MSRP - $6k w/the dealer. No mention of PenFed discount was made either be me or the dealer. Now I am waiting for the car to be produced. I've been a PenFed member for years so I am way over the 60 days min. Are you guys saying, that I can go to the site, print said "PenFed discount" certificate (I am aware of the $3250,- so called PenFed discount, but they - PenFed told me that its a negotiation between me and the dealer) and still get the $3250,- off the already negotiated number at closing? Or does that mean I have to "renegotiate".
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10-11-2021, 04:01 PM | #18 | |
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10-11-2021, 04:19 PM | #19 | |
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10-11-2021, 04:30 PM | #20 | |
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10-11-2021, 04:30 PM | #21 | ||
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That's why it's best to negotiate the price first, then verify that the dealer has experience and will accept the rebate BEFORE submitting the order, rather than trying to apply it at the 11th hour just in case they won't honor it. I had to walk from my local dealer because they flat out refused to accept it, they kept calling it a "TrueCar" discount even though it is not and refused my request to talk to their upper management about it. |
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10-11-2021, 04:47 PM | #22 | ||
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BUT... as I said, key here is whether they can still claim this from BMW even if I don't give them the certificate? Or maybe they just check boxes somewhere that I am a PenFed member and thats enough for them to claim it? Just looking for flies in the ointment here... If they do refuse to honor it I am sure I'll be given a very "good" story why etc, but if I am prepared or understand it enough , I may be able to call them even now / w/out waiting for the delivery, and check if they are cool w/it or have issues, if it truly is not skinny off their back, and there is no way they could have pocketed it if I didn't bring it up. Last edited by 5pacey; 10-11-2021 at 04:52 PM.. |
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