02-16-2019, 06:46 PM | #1 |
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Texas December finance rate?
Texas December finance rate 2.89% but in January 25 dealer charge me 3.99%. I just realize that today that I did locked the rate when dealer check my credit. What do I do now? Already to late at this points?
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02-16-2019, 07:09 PM | #2 |
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02-16-2019, 07:25 PM | #3 | |
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02-16-2019, 10:01 PM | #8 |
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They told me 2.89% without $2K rebate. 3.99% with 2k rebate. So I take the car and leave and don't want to waste my time there.
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02-16-2019, 10:13 PM | #10 | |
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02-16-2019, 10:26 PM | #11 |
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Looks like the February rate is 2.99% in Texas. I went to bmwusa.com and put in a Dallas zip code and that is what it shows for a 2019 X5. There is also the $2k credit.
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02-16-2019, 10:31 PM | #12 | |
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02-17-2019, 07:00 AM | #13 |
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I just picked up my X5 a couple days ago. The rates I was told in Austin were 2.99 for 60 months and 3.99 for 72 months. I went with them for the financing rebate, but will refinance with USAA in 3 months to avoid the early payment penalty imposed by BMW.
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02-17-2019, 08:33 AM | #14 |
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There is no prepayment penalty for the rebate. There's a thread on this too. If you refinance/pay off the vehicle within a few months then the dealership is on the hook for the rebate not you. I refinanced mine 2 weeks after purchase since my dealership was not honoring the 2.89% at the time and there was no penalty. If you're looking to do your dealership a solid then wait a few months but my dealership lied to me and said the rebate penalty was on me so I was not trying to help them out.
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2019 X5 40i MSport
Last edited by H0fmeister; 02-17-2019 at 10:10 AM.. |
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02-17-2019, 10:03 AM | #15 | |
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I was told by my sales manager, twice, that in order to get the BMW financing rebate of $2,000 all I need to do is finance a minimum of $7,000 and then opt out to pay it off come the 4th installment. Where are you getting this early payoff penalty stuff? Got a link please? Maybe I need to read the fine print rather than taking his word for it. So far he's been as honest and transparent as can be. That's what I plan to do. Needless to say I could care less about the % being 1% more or less during such a short term. |
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02-17-2019, 11:04 AM | #16 |
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There is never pre payment penalty for you as the consumer. I have heard different opinions on that dealer gets charged back rebate but I kind of doubt that as well
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02-17-2019, 11:14 AM | #17 |
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There is no pre-pay penalty from BMW , if there any changes that is from dealer. I called BMW finance and been told that dealer will receive some kickback after 4th payment made by customer.
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02-19-2019, 02:35 PM | #18 |
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We just ordered an X5. For Feb there are some advertisements for 2.99% for 60 mo. and still some overlapping for 2.89% for some reason. We just got the 2.89%. The $2000 credit is for using BMW financing, not an either / or offer connected to the rate. Dealers can "buy" down your interest rate and then charge you a higher rate as profit-be careful. There are some regulatory rules on how much and under what circumstances they can do that so NEVER shop on payments...they always wanna talk "payments". If you've got good credit you don't need to beg anyone for the best rate they offer. Know your FICO score before you walk on the lot. Even if you use their financing you can always re-fi later if YOU want with someone else. I'm sure there is some kind of charge back to the dealer if you screw them over so if you're nice wait a few months before looking around.
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04-02-2019, 08:21 AM | #21 |
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