[yalmin2]

Hi guys, I'm new to the forum and looking forward to joining GTA 2er meet up one day!

I went to the dealership and was told that they no longer accept 2016 2 series orders since BMW has ceased the production. It turns out that the lease interest rate for 2017 2 series is starting at 4.9% which is too high for me to consider placing an order.

I tried to find the historical data for the interest rates but couldn't find one. Do you know when they usually lower their interest rate for new year model, and if so by how much? Thanks!

[siwo]

Originally Posted by yalmin2

Hi guys, I'm new to the forum and looking forward to joining GTA 2er meet up one day!

I went to the dealership and was told that they no longer accept 2016 2 series orders since BMW has ceased the production. It turns out that the lease interest rate for 2017 2 series is starting at 4.9% which is too high for me to consider placing an order.

I tried to find the historical data for the interest rates but couldn't find one. Do you know when they usually lower their interest rate for new year model, and if so by how much? Thanks!

I don't know when rates are lowered however the last was at 2.9% for the late M235i/228i's.

[siwo]

In more details, coupes were at 2.9% where the convertibles were 3.9%

http://www.bmw.ca/en/topics/details/...al-Offers.html
This page shows the rates for 2ers both the 2016 228i/M235i and the 2017 230i/M240i that is until they update the website then it'll be at 4.9...

[Sypher]

The least and finance rates for 2016 dropped at around Apr-May (2.9% and 1.9% respectively). I would expect a similar trend for the 2017 MY.

[casualDIYer]

Originally Posted by yalmin2

Hi guys, I'm new to the forum and looking forward to joining GTA 2er meet up one day!

I went to the dealership and was told that they no longer accept 2016 2 series orders since BMW has ceased the production. It turns out that the lease interest rate for 2017 2 series is starting at 4.9% which is too high for me to consider placing an order.

I tried to find the historical data for the interest rates but couldn't find one. Do you know when they usually lower their interest rate for new year model, and if so by how much? Thanks!

I don't think you can't order a 2016 anything from BMW or probably any other maker. Model Year silliness abounds across all makes.

As for getting a low rate on 2017s, don't hold your breath. Dealers still have lots of 2016 models left and the clock is ticking down to December. Which would you finance/lease at 2.9% A 2016 car? Or a 2017 model? What happens in February of 2017 when 2016s are still on the lot?

You can get a 2016 car though. I pick up my first 2 on Saturday (a 228i). If you want a RWD car, it's a challenge but Bruce Redwood at Performance BMW in St. Catherines had one a few weeks back (a customer backed out of a deal). It's a bit loaded but he was willing to give me a good deal.

If you want xDrive, most of the dealers still have them. I've had really great luck with Maranello BMW (ask for Walter). I'm sure they have an xDrive 228. Serge at Pfaff had two 228i xDrive demos (black and red). Finally, had a really good experience a Policaro BMW in Brampton talking with both Ken Deng and Frank (his manager). Those guys are definitely willing to deal and have cars in stock.

Good luck.

[crbalch]

you should source external loan rates...when I bought my car I first got approved via Chase at 1.9% and the dealer matched it for me

[yalmin2]

Originally Posted by Sypher

The least and finance rates for 2016 dropped at around Apr-May (2.9% and 1.9% respectively). I would expect a similar trend for the 2017 MY.

Wow that's a long wait.. I guess I need to be less picky and consider one from the lot.

[yalmin2]

Originally Posted by menncars

I don't think you can't order a 2016 anything from BMW or probably any other maker. Model Year silliness abounds across all makes.

As for getting a low rate on 2017s, don't hold your breath. Dealers still have lots of 2016 models left and the clock is ticking down to December. Which would you finance/lease at 2.9% A 2016 car? Or a 2017 model? What happens in February of 2017 when 2016s are still on the lot?

You can get a 2016 car though. I pick up my first 2 on Saturday (a 228i). If you want a RWD car, it's a challenge but Bruce Redwood at Performance BMW in St. Catherines had one a few weeks back (a customer backed out of a deal). It's a bit loaded but he was willing to give me a good deal.

If you want xDrive, most of the dealers still have them. I've had really great luck with Maranello BMW (ask for Walter). I'm sure they have an xDrive 228. Serge at Pfaff had two 228i xDrive demos (black and red). Finally, had a really good experience a Policaro BMW in Brampton talking with both Ken Deng and Frank (his manager). Those guys are definitely willing to deal and have cars in stock.

Good luck.

Yeah I first considered buying 2016 model off the lot but I couldn't find the right one. It's either too loaded and out of my budget or doesn't have an M package that's on my "must have" list.

Hmm.. I'm not in any rush but not sure if I can wait that long haha. I've looked through their inventories you recommended, but still didn't find the one I like. I think I need to be less picky at this point otherwise I will have to wait until next year. Thanks for all references, I will definitely take your advice if I choose to buy one from the lot.

[yalmin2]

Originally Posted by crbalch

you should source external loan rates...when I bought my car I first got approved via Chase at 1.9% and the dealer matched it for me

Are you referring to financing or leasing? I was told that I can lease through only BMW FS, not 3rd party. Was I misinformed? I'd love to explore that option since I have very good credit, so I may be able to get better rate.

[crbalch]

Originally Posted by yalmin2

Are you referring to financing or leasing? I was told that I can lease through only BMW FS, not 3rd party. Was I misinformed? I'd love to explore that option since I have very good credit, so I may be able to get better rate.

I apologize! I always read lease rates as the money factor not the actual converted percentage. Thought you were talking about financing. Either way, you can always talk the money factor down, as most dealers mark it up. Ask GOLFRRR for the latest residuals and lease rates.

[F1HAMMY]

I highly recommend Car Gurus as they have a fairly comprehensive list of what's left on dealer lots. I was on there numerous times a day until I decided to just order a 2017

[casualDIYer]

Originally Posted by yalmin2

Yeah I first considered buying 2016 model off the lot but I couldn't find the right one. It's either too loaded and out of my budget or doesn't have an M package that's on my "must have" list.

Hmm.. I'm not in any rush but not sure if I can wait that long haha. I've looked through their inventories you recommended, but still didn't find the one I like. I think I need to be less picky at this point otherwise I will have to wait until next year. Thanks for all references, I will definitely take your advice if I choose to buy one from the lot.

No need to rush is exactly the strategy to take if you can. In Oct, Nov, Dec, the deals are as good as they'll get.

As for the 'M' package and the 2-series, for 2016 I have not seen any that are anything but 'M'bolized. Sport and Modern don't even seem to exist.

[qJai]

you can no longer order 2016 models. its whatever is left in the lot or extended lots. if you want to order, you need to order 2017. Dealer told me that usually new cars will be 3.9-4.9% rates for first few months. then go down to like 2.9-3.9% and then usually around christmas time and april-june (end of cycle), will go to 0.9-2.9% depending on the specials they have.