[Cannondale900]

Originally Posted by Asmooth0101

When did they give you $1500 loyalty?

My dealer is saying 750 only and only if you finance or lease through bmw. Even though I own another 2022 bmw, it doesn't matter for loyalty unless I use bmw for lease or finance

9/26 order of 45e is when we agreed on $1,500. I have zero deposit on this fully loaded order either. I am financing with BMWFS so I am playing the game, which probably helps them a bit.

[Asmooth0101]

Originally Posted by Cannondale900

9/26 order of 45e is when we agreed on $1,500. I have zero deposit on this fully loaded order either. I am financing with BMWFS so I am playing the game, which probably helps them a bit.

You think you can't finance and then pay it off two days later, and still keep the credit? Maybe that's what I'll do

[Cannondale900]

Originally Posted by Asmooth0101

You think you can't finance and then pay it off two days later, and still keep the credit? Maybe that's what I'll do

I was told the BMWFS loan needs to be around for three months to avoid prepayment penalties. After that you are free to do as you choose.

I'll pay off as soon as I'm past the relevant period.

[TurtleBoy]

Originally Posted by Cannondale900

I was told the BMWFS loan needs to be around for three months to avoid prepayment penalties. After that you are free to do as you choose.

I'll pay off as soon as I'm past the relevant period.

That is not accurate. There are no prepayment penalties for the borrower. If you don't make at least three payments then the dealer is charged for any incentives but it doesn't affect the buyer.

[leightos]

Originally Posted by TurtleBoy

That is not accurate. There are no prepayment penalties for the borrower. If you don't make at least three payments then the dealer is charged for any incentives but it doesn't affect the buyer.

so I got my BMW Military code last night fm the website, do you think I can get that and the BMWFS loyalty discount ? I haven't even asked - so much going on - I got my car back last night (for only about 10 days til I sell it back) .

[Cannondale900]

Originally Posted by TurtleBoy

That is not accurate. There are no prepayment penalties for the borrower. If you don't make at least three payments then the dealer is charged for any incentives but it doesn't affect the buyer.

Thanks this is good to know. It wasn't the finance guy who made the statement, it was a relatively inexperienced CA who I casually asked as I was leaving. Thanks for clearing that up.

[TurtleBoy]

Originally Posted by leightos

so I got my BMW Military code last night fm the website, do you think I can get that and the BMWFS loyalty discount ? I haven't even asked - so much going on - I got my car back last night (for only about 10 days til I sell it back) .

As far as I know there currently is no loyalty available on the 45e but there should be no reason you can't get the military discount. I would send them the certificate today so they make sure it is included in the deal.

[leightos]

Originally Posted by TurtleBoy

As far as I know there currently is no loyalty available on the 45e but there should be no reason you can't get the military discount. I would send them the certificate today so they make sure it is included in the deal.

thanks, yeah, I followed through on the website to send the certificate to my dealer. However I don't know to whom it is sent. I'm heading to the dealer now to discuss courtesy delivery.

So these others here getting loyalty on their 45e, that's just not available any more ?

[TurtleBoy]

Originally Posted by leightos

thanks, yeah, I followed through on the website to send the certificate to my dealer. However I don't know to whom it is sent. I'm heading to the dealer now to discuss courtesy delivery.

So these others here getting loyalty on their 45e, that's just not available any more ?

I think it was withdrawn a month or so ago, perhaps more. Also keep in mind many dealers have a loyalty discount that is not BMWFS’s incentive. Incentives are also regional so what is available in one area may not be in others.

[leightos]

Originally Posted by TurtleBoy

I think it was withdrawn a month or so ago, perhaps more. Also keep in mind many dealers have a loyalty discount that is not BMWFS’s incentive. Incentives are also regional so what is available in one area may not be in others.

thanks - I moved from Prod Date 11/29 > 11/22 - only a two day bump up moves me a week earlier because of the Turkey Day shutdown. So I told my dealer today I won't do the courtesy delivery, it should barely get me in if we transit in 30 days... although the holiday basically probably has me wait the weekend for a carrier. Turned in my Military Id# and BMW offer code today... that should get me $500-$2000.

[TurtleBoy]

Originally Posted by leightos

thanks - I moved from Prod Date 11/29 > 11/22 - only a two day bump up moves me a week because of the Turkey Day shutdown. So I told my dealer today I won't do the courtesy delivery, it should barely get me in if we transit in 30 days... although the holiday basically probably has me wait the weekend for a carrier. Turned in my Military Id# and BMW offer code today... that should get me $500-$2000.

You are in the Western Region so the incentive is $1,500.

Hopefully it gets there with time to spare.

[yozhbk]

Ok took delivery yesterday of 45e. Was able to get 1k off the MSRP, but that's about it, they really pushed hard not to go with BMWFS, and got a me financed with Chase at 6.99%. Thats with perfect credit.
No loyalty or anything else, and I paid oop for tire/rim insurance, which Im 100% sure they got me on as well, paid 2k for 39 months.

[mnx5er]

Originally Posted by yozhbk

Ok took delivery yesterday of 45e. Was able to get 1k off the MSRP, but that's about it, they really pushed hard not to go with BMWFS, and got a me financed with Chase at 6.99%. Thats with perfect credit.
No loyalty or anything else, and I paid oop for tire/rim insurance, which Im 100% sure they got me on as well, paid 2k for 39 months.

Ouch. My credit union is at 4.74%. That is robbery by Chase.

[yozhbk]

Originally Posted by mnx5er

Ouch. My credit union is at 4.74%. That is robbery by Chase.

I don’t usually use credit unions, but might have to transfer it somewhere else when I can. Im actually not sure when I can …

They also didnt want to even sell the car or were going to do markup if I did full cash or external financing… NY dealers suck !

[arRod1981]

Originally Posted by yozhbk

I don’t usually use credit unions, but might have to transfer it somewhere else when I can. Im actually not sure when I can …

They also didnt want to even sell the car or were going to do markup if I did full cash or external financing… NY dealers suck !

You can refinance at any time. I used BMWFS to get my incentives, and the immediate next day refinanced through my CU to get a rate that was 1.5% lower.

[yozhbk]

Originally Posted by arRod1981

You can refinance at any time. I used BMWFS to get my incentives, and the immediate next day refinanced through my CU to get a rate that was 1.5% lower.

When did you do this? For BMWFS i was def told 3 month but this is chase.

[arRod1981]

Originally Posted by yozhbk

When did you do this? For BMWFS i was def told 3 month but this is chase.

This past July. What you were told is a lie. There are no penalties for refinancing before a certain period.

What happens is the dealer gets put on the hook for certain incentives which is why the dealership tells that lie if I'm not mistaken. TurtleBoy and nZtiZia may be able to explain it better.

[TurtleBoy]

Originally Posted by arRod1981

This past July. What you were told is a lie. There are no penalties for refinancing before a certain period.

What happens is the dealer gets put on the hook for certain incentives which is why the dealership tells that lie if I'm not mistaken. TurtleBoy and nZtiZia may be able to explain it better.

You are not mistaken. There is no time period one needs to wait until they pay off a BMWFS loan. If a person does not make three payments then the dealer gets charged for any incentives, the purchaser is not penalized.

[arRod1981]

Originally Posted by TurtleBoy

You are not mistaken. There is no time period one needs to wait until they pay off a BMWFS loan. If a person does not make three payments then the dealer gets charged for any incentives, the purchaser is not penalized.

Though I just reread his comment, and his loan is through Chase. Not sure if there is any difference, but I'm sure the loan documents would mention early payment penalties. Mine does, and was even told at the beginning there was no penalty for paying the loan off early.

[mnx5er]

Originally Posted by arRod1981

Though I just reread his comment, and his loan is through Chase. Not sure if there is any difference, but I'm sure the loan documents would mention early payment penalties. Mine does, and was even told at the beginning there was no penalty for paying the loan off early.

Very rare that banks have early payoff penalties - that was more of a things back in the 80s.

With BMW my dealer is always upfront and asks me to hold the loan for those three months. I give him props for being honest. With BMW rates where they are now, I doubt many people use BMW.

Finance people at dealers can be nasty. The good news is car sales have really slowed down and dealers will soon be begging for business.

[izzisdashiz]

Originally Posted by Asmooth0101

When did they give you $1500 loyalty?

My dealer is saying 750 only and only if you finance or lease through bmw. Even though I own another 2022 bmw, it doesn't matter for loyalty unless I use bmw for lease or finance

FWIW, my dealer in NoVA is saying the same thing. They were willing to throw in another $1,250.

[Miata13]

Originally Posted by TurtleBoy

That is not accurate. There are no prepayment penalties for the borrower. If you don't make at least three payments then the dealer is charged for any incentives but it doesn't affect the buyer.

Very true, but an "immediate" loan payoff won't endear you to your dealer...For that reason, I waited the 3 mos before my BMW FS loan payoff. I got the incentive and didn't penalize my dealer. I will see what kind of incentives are offered on the X5 45e...Loyalty....Military etc. If I can get delivery before year-end that $7,500 tax credit will help "make that deal"; if not, we'll likely wait as no immediate need for a new vehicle.