Quote:
Originally Posted by jimbethesda
Yes. Or, apply for the .9% from BMWFS directly.
Before I got an allocation from my preferred dealership, I reached out to two more. One wanted me to fill out a credit app before putting me on the list. I said no, and he still called me to tell me he had an allocation before my preferred dealership had a chance to.
No doubt many may ask for one. Still makes no sense to do it though
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The .9%
is direct. The app through BMWFS goes straight to the dealer. To re-up my rate lock, BMWFS told to me to talk to the dealer, wouldn't take another app. BMWFS does nothing but underwrite the loan. I emailed the FM and asked for the updated lock in writing and got it.
Again, it makes sense to get a rate lock when the rate is favorable especially when there are supply issues. Normally, you'd never come close to expiring a rate in the duration of a normal car purchase. This isn't a normal car purchase. I ordered my car in July...it hasn't left the factory yet. By the time my contract is ready to be signed, two full lock cycles will have passed.
It does zero harm to get the app done, and can only work in your favor.