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      11-02-2020, 09:11 AM   #1
sugriv
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PenFed Incentive

Hello everyone,
Has anyone recently received PenFed incentive on a purchase/financed vehicle (not on a lease)? How does the discount work? There is $3,250 incentive for X5. Does it come from dealer or BMW directly? Does it reduce the purchase price at the time of order or is it something you get from BMW later after receiving the vehicle? Do you have to take a PenFed loan etc to get this incentive? Also, the offer expires on Jan 6, 2021. So, what happens if I order the vehicle now and its not delivered/received by then? The features I am looking for, is not available in stock, so I do need to order it.

Appreciate any info you can provide. Thank you.
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      11-02-2020, 10:08 AM   #2
Auricom
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Quote:
Originally Posted by sugriv View Post
Hello everyone,
Has anyone recently received PenFed incentive on a purchase/financed vehicle (not on a lease)? How does the discount work? There is $3,250 incentive for X5. Does it come from dealer or BMW directly? Does it reduce the purchase price at the time of order or is it something you get from BMW later after receiving the vehicle? Do you have to take a PenFed loan etc to get this incentive? Also, the offer expires on Jan 6, 2021. So, what happens if I order the vehicle now and its not delivered/received by then? The features I am looking for, is not available in stock, so I do need to order it.

Appreciate any info you can provide. Thank you.
PSA: PenFed Member's Get An Extra $500 Off w/BMWFS https://g05.bimmerpost.com/forums/sh....php?t=1672925

See the above link for PenFed discussion.

If you're not already a PenFed member, you'll need to sign up and join for 60 days. The PenFed BMW finance credit comes directly from PenFen and you'll would need to finance your vehicle through PenFed to receive the $3250 incentive, otherwise you'll only receive $500 if financing through BMWFS. When you hit 60 days, you'll generate a "coupon" through their vehicle purchasing program.
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Current BMWs - '20 X5 xDrive40i M Sport, '20 BMW M550i | Past BMWs - '03 E39 540iT M Sport, '06 E53 4.8is, '11 E70 M Sport LCI


Last edited by Auricom; 11-02-2020 at 11:13 AM..
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      11-02-2020, 10:22 AM   #3
DENtoLAS
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I used mine and will not be finacing with PenFed. You will not qualify for the APR cash.
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      11-02-2020, 06:15 PM   #4
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Quote:
Originally Posted by Auricom View Post
The PenFed BMW finance credit comes directly from PenFen and you'll would need to finance your vehicle through PenFed to receive the $3250 incentive, otherwise you'll only receive $500 if financing through BMWFS. When you hit 60 days, you'll generate a "coupon" through their vehicle purchasing program.
This is not correct, the info in the original discussion was not accurate. The incentive comes from BMWFS and you do not need to finance the vehicle with PenFed to get the $3,250. BMW is using PenFed for their military discount program since USAA no longer does it.
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      11-02-2020, 07:36 PM   #5
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Originally Posted by TurtleBoy View Post
This is not correct, the info in the original discussion was not accurate. The incentive comes from BMWFS and you do not need to finance the vehicle with PenFed to get the $3,250. BMW is using PenFed for their military discount program since USAA no longer does it.
TY for the clarification. It's no wonder I've stepped away from providing financing, leasing advice here, LOL. Cheers and TY again mate!
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      11-02-2020, 08:06 PM   #6
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Quote:
Originally Posted by DENtoLAS View Post
I used mine and will not be finacing with PenFed. You will not qualify for the APR cash.
It is a no brainer to use the PENFED incentive if you have one as it is higher ($3250) than BMW APR cash which for the current month is $2500.

Do you still get the low APR of .9 when you use the Penfed incentive ?

How does it stack with Loyalty and may be any OL codes . I guess OL codes will not stack and you can just combine with Loyalty .

Any thoughts or any recent experiences that you can share to help potential buyers ?
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      11-02-2020, 08:09 PM   #7
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Quote:
Originally Posted by Juney View Post
It is a no brainer to use the PENFED incentive if you have one as it is higher ($3250) than BMW APR cash which for the current month is $2500.

Do you still get the low APR of .9 when you use the Penfed incentive ?

How does it stack with Loyalty and may be any OL codes . I guess OL codes will not stack and you can just combine with Loyalty .

Any thoughts or any recent experiences that you can share to help potential buyers ?
As mentioned by Auricom you can't use the PenFed incentive ($3,250) and finance with BMWFS. If you finance with BMWFS then the incentive becomes $500.
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      11-02-2020, 08:15 PM   #8
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Quote:
Originally Posted by TurtleBoy View Post
As mentioned by Auricom you can't use the PenFed incentive ($3,250) and finance with BMWFS. If you finance with BMWFS then the incentive becomes $500.
Got it ! Thanks for the info

I guess the $500 incentive is redeemed as Type J or something if I remember it correctly

Picking up next week and trying to tie all loose ends.
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      11-02-2020, 08:19 PM   #9
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Quote:
Originally Posted by Juney View Post
Got it ! Thanks for the info

I guess the $500 incentive is redeemed as Type J or something if I remember it correctly

Picking up next week and trying to tie all loose ends.
That is correct. Here is last year's chart but think all is still accurate.
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      11-02-2020, 10:41 PM   #10
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Quote:
Originally Posted by Juney View Post
Got it ! Thanks for the info

I guess the $500 incentive is redeemed as Type J or something if I remember it correctly

Picking up next week and trying to tie all loose ends.


Yes, and you need a store that is competent enough to understand you and apply it correctly.
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      11-02-2020, 11:29 PM   #11
philooo
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I am also trying to use the penfed discount


but between 3250 from penfed
or 2000 from bmw WITH the 0.9% APR....

the BMW option will be cheaper on the long run if you finance a large sum.

I am thinking switching to the 2000 BMW finance credit and use their nice 0.9%APR


don't forget to sign up for one of the BMW drive event to get the $1,000.
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      11-02-2020, 11:58 PM   #12
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I heard that some event does not give OL anymore this year.
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      11-03-2020, 05:42 AM   #13
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My dealer had an event last weekened, the day I signed up my X5 production order and they told me they would give me the $1000 discount, so I hope they don't get back on it... who knows these days.
It was an event about the new M3 unveil.

I'd like to hear about people choosing penfed over BMW low APR.
My take is that it makes more sense if you pay cash or finance a small amount.
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      11-03-2020, 04:06 PM   #14
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Quote:
Originally Posted by zaflb View Post
I heard that some event does not give OL anymore this year.
I attended a Ultimate Drive event at Citi Field in NYC last weekend and did receive a $1000 OL coupon code on Monday. Expires Jan 4th.

DAK
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      11-06-2020, 04:27 PM   #15
kchan
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how long does it take to get the OL coupon? Does it apply for custom order? I ordered mine on west coast (CA), with production number, dealer claimed 1st week Dec build but could be 6 weeks after build to get here...
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      11-06-2020, 07:07 PM   #16
sugriv
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Hi All - thank you so much for the valuable information. I placed the order few days back and have a build number. My dealer was saying the OL code can't be combined with PenFed. Is that correct?
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      11-06-2020, 07:21 PM   #17
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Quote:
Originally Posted by sugriv View Post
Hi All - thank you so much for the valuable information. I placed the order few days back and have a build number. My dealer was saying the OL code can't be combined with PenFed. Is that correct?
That is correct.
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      11-07-2020, 07:25 AM   #18
sugriv
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ok, thank you TurtleBoy for confirming.
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