Quote:
Originally Posted by Gixxer335iCoupe
sorry to resurect an old thread, but they are offering this again right now and I am going to dump my 550i in favor of an M5 or M6GC.
The rules are that you must purchase or lease a new or certified BMW through BMW financial services and they will waive up to three payments.
My question is: how long do I have to keep the loan through BMWFS and is there a prepayment penalty for paying off early and switching to a cheaper loan rate?
|
There is no prepayment penalty. To participate, the dealer must buy your car from BMW. I just did this, trading a leased 328i for a 528i. I initially thought "waived payments" meant that BMWFS simply ends the lease up to 6 months early, but it was more complicated since the dealer has to participate by taking the car as a trade-in. My car was very well equipped in a desirable color with low miles, so the dealer in Clearwater participated. My local dealer in Sarasota was less willing as they had excess used 3-series on the lot and the Naples dealer would not even acknowledge the program existed from BMW. It all comes down to the spread between wholesale value and lease buyout on your 550i, then finding a volume dealer to participate. Fun game.