$1500 BMW finance incentive

The X Men · 05-01-2012, 02:42 PM

Does anybody know if one has to pay the BMW's high APR, currently at 4.5%, in order to qualify for the $1500 BMW finance incentive? Is the APR negotiable? It just seems kind of silly to get the $1500 incentive and give it all back in interest.

Thanks

nasa60 · 05-01-2012, 07:01 PM

Yes, you have to purchase or lease from BMWFS.

The X Men · 05-01-2012, 08:46 PM

Quote:

Originally Posted by nasa60

Yes, you have to purchase or lease from BMWFS.

But do you have to take their current rate or is the rate negotiable?

nasa60 · 05-01-2012, 10:19 PM

Their rates are based on your credit rating and are not negotiable. What bank has negotiable finance rates? If you lease, you can put down up to 7 security deposits that will reduce the money factor by .00049.

The X Men · 05-02-2012, 07:41 AM

BMWFS' so called current financing special is 4.5% for 60 months with a $1500 incentive. My credit union is offering 1.79% for 60 months, quite a difference. The difference in interest paid over 60 months is more than the $1500 incentive. I guess BMW finance special is not so special after all.

nasa60 · 05-02-2012, 04:32 PM

Quote:

Originally Posted by The X Men

BMWFS' so called current financing special is 4.5% for 60 months with a $1500 incentive. My credit union is offering 1.79% for 60 months, quite a difference. The difference in interest paid over 60 months is more than the $1500 incentive. I guess BMW finance special is not so special after all.

I agree, BMWFS's current rates are terrible, both leasing and financing. That's why I am going to buy my leased M3 rather than turn it in and lease another one or something else. i may have mispoke about whether you have to finance with them to get the $1500 option credit. The fine print isn't very clear this month.

The X Men · 05-02-2012, 05:04 PM

Quote:

Originally Posted by nasa60

I agree, BMWFS's current rates are terrible, both leasing and financing. That's why I am going to buy my leased M3 rather than turn it in and lease another one or something else. i may have mispoke about whether you have to finance with them to get the $1500 option credit. The fine print isn't very clear this month.

I miss spoke, the $1500 is not a financing incentive, BMW change it to a option incentive this month. Does anybody know if one have to take out a loan with BMWFS in order to qualify for the option incentive?

05-01-2012, 02:42 PM	#1
The X Men Major Drives: 2012 535xi 2013 X3 35i Join Date: Mar 2012 Location: MA Posts: 1,254 iTrader: (0)	$1500 BMW finance incentive Does anybody know if one has to pay the BMW's high APR, currently at 4.5%, in order to qualify for the $1500 BMW finance incentive? Is the APR negotiable? It just seems kind of silly to get the $1500 incentive and give it all back in interest. Thanks
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05-01-2012, 07:01 PM	#2
nasa60 Private First Class Drives: 2008 M3 Sedan Join Date: Feb 2008 Location: Alabama Posts: 153 iTrader: (0)	Yes, you have to purchase or lease from BMWFS. __________________ -------------------------------------------------- 2008 M3 Sedan, Silverstone, Fox Red Extended, Carbon Leather Trim

05-01-2012, 10:19 PM	#4
nasa60 Private First Class Drives: 2008 M3 Sedan Join Date: Feb 2008 Location: Alabama Posts: 153 iTrader: (0)	Their rates are based on your credit rating and are not negotiable. What bank has negotiable finance rates? If you lease, you can put down up to 7 security deposits that will reduce the money factor by .00049. __________________ -------------------------------------------------- 2008 M3 Sedan, Silverstone, Fox Red Extended, Carbon Leather Trim

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05-02-2012, 07:41 AM	#5
The X Men Major Drives: 2012 535xi 2013 X3 35i Join Date: Mar 2012 Location: MA Posts: 1,254 iTrader: (0)	BMWFS' so called current financing special is 4.5% for 60 months with a $1500 incentive. My credit union is offering 1.79% for 60 months, quite a difference. The difference in interest paid over 60 months is more than the $1500 incentive. I guess BMW finance special is not so special after all.