|
Since I am not sure when my car will arrive other than I think if it shows up in March I'll be lucky, I have concerns that BMW will hike rates again since the Feds will probably raise the rates soon.
Based on feedback here stating rate locks are now 90 to 120 days and being told in the past, no it is 60 days by the dealer, I should check to make sure.
So I call BMWFS directly and ask what the rate-lock period is for Minnesota and they literally said: "my supervisor told me to tell you to call the dealer". I explain it would be helpful to have an answer before I fill out an online credit app (again). Then the person on the phone finally says it is 60 days, I said "okay". Still think this is incorrect.
I call the dealer and am in the phone queue purgatory and then finally it is answered and I figure out I am speaking with the GM of the store (super nice guy). A short discussion ensues and yes it is a 90-day rate lock now. I explain I already locked the rate once (which expired) when we thought the car would show up and that I really am not anxious to keep having hard credit pulls for no apparent reason. He agrees and proceeds to tell me he will call BMWFS and get them to honor the old rate and that it isn't necessary to fill out the credit app again. I explain that while I believe what he says but would like him to verify all of this before the end of this month. Since he is the GM he should be smart enough (I hope) not to speak out of turn regarding "getting BMWFS to honor the previous rate" without knowing that can actually happen.
So it seems there *may* be a mechanism the dealer can use for the endless delays BMW is putting the customer and the dealers through.
We shall see. Maybe a few of you can see if your dealer says something similar and let us know.
|