Quote:
Originally Posted by aimetti
Question for you guys. I applied for financing in late dec and got approved and fully expect the .9% due to my credit. Got approved same day. But where the heck do I see the terms. I see nothing other than "approved". Is this something only my dealer would have ?
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If you applied on the BMW FS website, you should have received an email confirming approval, which includes an approval number, the dealership you specified when you applied, and the expiration date (60 days in Central Region; I believe 90 days in East and West Regions). 'Terms' implies 1 of 2 things: BMW FS finance/lease contract terms, which the dealer has and can provide in advance of signing (it's boilerplate stuff). Or terms as in down payment amount, trade in amount, length of contract, and vehicle options which you provided in the online credit app.
By virtue of applying directly with BMW FS online, you applied for and were approved for their base rate (e.g., 0.9% for cars, 1.9% for light trucks, for up to 60 months) -- and not for a rate the dealer chooses to mark up (up to 1.0% above the base rate).