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      10-21-2018, 08:05 PM   #67
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Quote:
Originally Posted by Herdalum View Post
Avenger, I can’t answer your question as to minimum. I’m putting down half because I’ll be paying a higher interest rate to BMW than I’ll be earning on the money market funds that would have been my source for paying cash. I think it will be about three and a quarter to BMW... unless your source of funds is earning higher than that, wouldn’t you want to put down the most they would allow? I didn’t actually find out the max like I should have to be honest, I just asked if half would be ok. I should find that out myself.
You're right. You're on the same train of thought as I am. I guess my phrasing wasn't very clear. I want to put down as much as I can at the time of purchase, so I want to know what the minimum I'd have to finance through BMWFS would be. For instance, can I put down 80k and finance 5k through BMWFS? I doubt they'd allow that.
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      10-21-2018, 08:11 PM   #68
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Originally Posted by avengerboater View Post
You're right. You're on the same train of thought as I am. I guess my phrasing wasn't very clear. I want to put down as much as I can at the time of purchase, so I want to know what the minimum I'd have to finance through BMWFS would be. For instance, can I put down 80k and finance 5k through BMWFS? I doubt they'd allow that.
Nah, you were clear, I misread...
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      10-21-2018, 08:23 PM   #69
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Originally Posted by Herdalum View Post
Nah, you were clear, I misread...
No worries.
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      10-21-2018, 08:42 PM   #70
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Quote:
Originally Posted by avengerboater View Post
Quote:
Originally Posted by Herdalum View Post
Avenger, I can’t answer your question as to minimum. I’m putting down half because I’ll be paying a higher interest rate to BMW than I’ll be earning on the money market funds that would have been my source for paying cash. I think it will be about three and a quarter to BMW... unless your source of funds is earning higher than that, wouldn’t you want to put down the most they would allow? I didn’t actually find out the max like I should have to be honest, I just asked if half would be ok. I should find that out myself.
You're right. You're on the same train of thought as I am. I guess my phrasing wasn't very clear. I want to put down as much as I can at the time of purchase, so I want to know what the minimum I'd have to finance through BMWFS would be. For instance, can I put down 80k and finance 5k through BMWFS? I doubt they'd allow that.
So minimum should be 7500. This is the number from bmwfs.


However, dealers are independent franchises so they could have a minimum requirement of 10k for example. That is how the dealer decided to do business.

They will ask you make a handful of payments so that they get their kickback from bmwfs. Last I heard is that 4 payments should be enough.

There is no prepayment penalty for paying off the loan early. However you may burn some bridges with finance
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      10-21-2018, 08:45 PM   #71
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Originally Posted by arciga18 View Post
So minimum should be 7500. This is the number from bmwfs.


However, dealers are independent franchises so they could have a minimum requirement of 10k for example. That is how the dealer decided to do business.

They will ask you make a handful of payments so that they get their kickback from bmwfs. Last I heard is that 4 payments should be enough.

There is no prepayment penalty for paying off the loan early. However you may burn some bridges with finance
Good to know. Thanks!!!
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      10-21-2018, 09:44 PM   #72
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So, even at twenty you’d be paying just a shade over two hundred bucks in interest, less whatever you would earn in your money market account, so maybe a hundred net, for a thousand off the top on the vehicle... still worth the trouble I would think. Assuming there aren’t any closing type costs.
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      10-21-2018, 10:19 PM   #73
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Quote:
Originally Posted by Herdalum View Post
So, even at twenty you’d be paying just a shade over two hundred bucks in interest, less whatever you would earn in your money market account, so maybe a hundred net, for a thousand off the top on the vehicle... still worth the trouble I would think. Assuming there aren’t any closing type costs.
Yea, in the end the money lost in interest isn't that much if we do what you suggest and pay it off after 4 months. It's worth the trade off of having $1000 discount, minus interest of course.
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      10-28-2018, 07:39 PM   #74
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Thanks to the info in this thread and others, I’m now awaiting quotes from other dealers. Went for a test drive and went over the numbers for my build, and the CA told me there was nothing more than the $1k loyalty they could do since it’s a new car. When I informed them that most people are getting 4-5% off MSRP, they said they didn’t know how other dealers could do that since the car isn’t even released yet unless they were doing “shady things”
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      10-29-2018, 07:40 AM   #75
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Roxxor, if you're in Florida feel free to PM me and I'll let you know a dealer willing to make your experience a pleasant one and who won't feed you a line of BS. I've already gone thru this and happy to help.
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      07-18-2019, 09:29 PM   #76
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Nearly 22% - recent purchase in UK. No special treatment other than returning customer. Guess a year after release makes a huge difference!
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