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2010 2011 BMW 5 Series Forum F10 THE BMW JOY SALES EVENT - til Jan 3/11 - USA only |
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11-04-2010, 10:46 AM | #1 |
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THE BMW JOY SALES EVENT - til Jan 3/11 - USA only
Enjoy a Holiday Credit of $1,500 on the 1 Series, 3 Series, 5 Series (including the Gran Turismo) and Z4. You'll also receive a $2,500 Holiday Credit on the X5, X6 and 7 Series (excluding the 760Li and Alpina). And when you buy or lease through BMW Financial Services, you'll enjoy financing rates as low as 0.9% or no down payment. 1
US has all the perks ! |
11-04-2010, 12:11 PM | #2 |
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I ordered my car in August, and did not get the dleivery yet, projecting towards mid-November. Clearly, I have not paid for the car yet either.
I am wondering whether I can bring this up as the actual transaction time is within the timezone of this deal, or it is a lost cause. Any thoughts?
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11-04-2010, 12:17 PM | #3 |
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Never mind, it seems to be only applicable to leases and finances through BMW finance center. If you are paying all down, youa re doomed
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11-04-2010, 12:29 PM | #4 | |
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11-04-2010, 12:57 PM | #5 |
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But I am not planning to lease or finance, and this offer seems to be limited to those options. Or am I reading it wrong?
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11-04-2010, 02:57 PM | #6 |
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It is a credit if you finance or lease. I plan to take avantage of the credit and .9% finance. Just finance $20K, get a $1500 credit, interest on the 3 yr is $279. Or finance and payoff over a few months to get the credit. Doc stamps is about .0035 of the total amount financed here in Florida. Cost estimate is $349 for full 3 yr finance with a net cr of $1151.
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11-04-2010, 07:48 PM | #7 |
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Yeah, can anyone confirm whether you will get the $1,500 if you buy the car?
I am paying the car in the full amount of $75,000 with a big fat check. Will I still get the discount even if I already sign the paper work on the order and the amount? I only put down $1,000 so far. I won't be receiving my car until the end of this month.
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11-05-2010, 06:32 AM | #8 |
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Talk to your dealer. But based on the BMW website, it says "Finance or Lease". I would finance it and then pay off the entire amount within a couple of weeks to get that $1500. No brainer, IMO.
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11-07-2010, 01:21 PM | #9 |
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I will need the car sometime in April. I am perplexed as to place an order now using holiday credit or wait for the month of January. I believe the market is slow after the holidays so offers become more attractive. Please provide your opinion. Thanks.
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11-10-2010, 07:11 AM | #10 | |
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HTH.
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11-20-2010, 07:16 AM | #11 |
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I think Luv is right, this is from the fine print at bmwusa.com
Holiday Credit must be applied to a Lease, OwnersChoice or Retail Finance contract though BMW Financial Services by January 3, 2011. |
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11-20-2010, 10:09 PM | #13 |
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Yup, I ordered the car in August and got delivery this Wednesday (don't ask!). Got the 1500 discount (financed just to ensure that this money would not be left on the table). That is exactly how it works. Here are a few points for you;
1. The minimum you can finance apparently is 10% of the entire deal price (including all the bells and whistles that you add later on, including the license and title fees etc. 2. The minimum you can have the account open is 3 months. 3. They give you the $1500 discount on the non-financed portion of the deal. In other words, you do not finance $7500 and expect to pay $6000; you still pay $7500 (plus the interest), but on the down portion you pay $1500 less. Hope this helps.
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11-20-2010, 10:59 PM | #14 |
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Thanks for the info.
So the 1500 cash back was given when you actually did the transaction when the car arrived. Right? Then it won't help me since if I order now the car probably won't be ready by Jan. 3, 2011. |
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11-21-2010, 10:10 PM | #15 |
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Yes, when the car was delivered.
However, it would not hurt you to ask your dealer about it for your anticipated delivery date. I do not know for sure as to when the program ends either.
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11-22-2010, 05:24 PM | #16 |
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Just contacted 2 local dealers. They are quoting $950 and $1500 over invoice for a special order. And they could also lock in the $1,500 holiday cash, so it doesn't seem that the car has to be delivered by Jan. 3, 2011 to get the rebate.
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11-23-2010, 06:09 AM | #17 |
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That's great! Whichever deal you go with, make sure that you get a written contract with all of the numbers in exchange for your deposit.
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11-24-2010, 10:58 AM | #18 |
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I do not think the delivery date of the car makes any difference on whether or not you get the $1500 discount.
What's necessary, I believe, is that you sign the financing documents (commit to buying) during the time frame the offer is in effect (ends 1/3/'11). In my case, I am taking ED delivery in February, I will sign documents in December and I 'll get the the discount. The idea of taking out a small loan to create financing documents and, therefore, become eligible for the discount is very imaginative. It's something a good salesman should draw your attention to. |
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11-27-2010, 12:37 AM | #19 |
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I placed my car order last Wednesday (11-25-10) and they included the credit on my contract. My expected delivery date is in mid to late January 2010. So based on my experience and the comments above, it appears that you will probably get the credit if you take delivery of a previously ordered car before 1-3-11 or if you order your car before 1-03-11. Also note that just before they started the $1500 rebate, they raised their interest rate from 3.9% to 4.9%. Nothing for free...
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12-04-2010, 03:41 AM | #21 |
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I intended to use cash, but financed through BMW Finance at 0.9% of 36 months to get the $1,500 and $1k under invoice net of the credit. I can earn more than 90 basis points on the cash even keeping it invested relatively short-term, so it was a no brainer especially when you factor in the credit.
I did the dealer about immediately repaying the loan and was told that you need to make at least eight monthly payments before prepaying the loan to avoid some type of prepayment penalty. (I haven't seen the financing contract to confirm this.) Also, the only thing that matters is when you order the car and when your financing is approved. As long as both occur before 1/3/11, you get the credit, although I have seen some discussion of a 90-day rule on the financing - i.e., your financing approval is only good for 90 days. So, for example, if you ordered on 1/1/11, you'd need to take delivery on or before 4/2/11 or reapply for the financing thereby jeopardizing the credit. I suspect that the 90-day thing may be nonsense though because in this case the cash is going from BMWUSA to the dealer, who then passes it along in the form of a lower selling price for the car. My contract with the dealer simply quoted a net amount after the credit as the selling price without specifically mentioning the credit. If, for some reason my car got delayed and I had to reapply for financing, or pay cash, I still have a contract with the dealer to purchase the car at the net amount. As far as I'm concerned, i) any delay in delivering the car would be beyond my control; and ii) given that my contract is silent on his receipt of the cash from BMWUSA, whether or not he gets that cash from BMWUSA is irrelevant to me. It would also be "extremely poor form", and likely a breach of contract unless the contract expressly reserved this right to the dealer, for a dealer to suggest that a customer needs to pay an additional $1,500 due to a delay in delivery by BMW, which caused a need to reapply for financing after 1/3/11, so I'm guessing that the only true requirement is that the order is placed before 1/3. |
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