[M3GALLY]

Originally Posted by xShadows

Locked in through BMW at 1.99% back in December when I got my allocation.

You sure you're locked in? My rate was only good for 90 days. Waited longer than that for the car.

[OCVOLM4]

I locked in back in December and my dealership honored my rate last week when I picked her up. They also didn't pull another credit check. 1.99%

[Grumpy514]

Originally Posted by YamaLink

Did you have PenFed purchase your BMW via TrueCar to get a lower rate? Or did you take that Navy Federal "coupon" and financed with PenFed without using TrueCar?
I just printed my NFCU $1500 BMW Manufacturer Incentive Offer Form, and I'm thinking it's stackable with the BMW Military Incentive. That they are two separate incentives. And all that needs to be done is take the form into my dealership, and they follow the instructions to process claim: "Enter Customer ID and Offer Code during RDR to process claim and payment."
It seems too easy to be true.
Tried calling the Customer hotline, but it's terminal hold.

I just filled out this application and received my code & passed that on to my CA as soon as I got the code. He applied the discount to my purchase order, he was familiar with the discount through NFCU. The only stipulation with NFCU is that 1- You're a member of NFCU & 2- you cannot combine the discount with BMWFS leases or loans.

That's it.

https://navyfederal.truecar.com/oem/...tm_content=oem

[YamaLink]

Originally Posted by Grumpy514

I just filled out this application and received my code & passed that on to my CA as soon as I got the code. He applied the discount to my purchase order, he was familiar with the discount through NFCU. The only stipulation with NFCU is that 1- You're a member of NFCU & 2- you cannot combine the discount with BMWFS leases or loans.

That's it.

https://navyfederal.truecar.com/oem/...tm_content=oem

Excellent! That's what I did. The NFCU form explained everything.

Then things got a little confusing when my SA sent me the link from BMW USA which had the ID.me veteran verification (same as NFCU did). I received a different Customer ID and Offer Code, but no form to print out. The fineprint reads incentives are stackable, but I'm thinking the NFCU and BMW USA are the same, just different "coupons" for the same incentive.
The SA and General Manager are figuring this out. Obviously I'd like to have TWO $1500 stackable coupons come delivery day, but that's 4 or 5 weeks away.

[ibmc]

Pioneer Federal CU 1.59%
$2000 Military discount
$500 loyalty discount

[M4CompConv/X7]

2.99% and $2000 below MSRP military discount.

[BrooklynGreyM3]

My Military discount was 10% off MSRP, no tax, and no delivery fees.

[vj123]

Originally Posted by vj123

University of Michigan Credit Union.

1.99% for 72 months and rates can be locked for 60 days.

I processed my loan paperwork with my CU last friday as my rate lock was going to expire yesterday. Their current rate is 2.74%.

My vehicle is on its way to VPC and hoping to hear from PC team soon.

[JEM3]

What are current BMWFS rates? 3.9%?

[khalua80]

Originally Posted by JEM3

What are current BMWFS rates? 3.9%?

BMWFS current rate is at 3.49% but dealers can add up tp 1% on that

[Froz3n_M]

Looking to see if BMW will honor the 2.99 when I applied. If not, it'll be PenFed, they have 3.47's still I think.

[mlover789]

Originally Posted by BrooklynGreyM3

My Military discount was 10% off MSRP, no tax, and no delivery fees.

Same here. Used savings for pipe and some Cf parts.

[vj123]

Originally Posted by JEM3

What are current BMWFS rates? 3.9%?

Base rate is 3.49 for 60 months and 3.99 for 72 months.

[vj123]

Originally Posted by vj123

University of Michigan Credit Union.

1.99% for 72 months and rates can be locked for 60 days.

Base rate with my CU is still 2.74% for 72 months even after rate hikes.

It might be a good option for someone whos planning to lock their rates soon.

[TheDailyDriven]

I just locked in 2.5% for 72 months with Suncoast Credit Union. There are some stipulations like being a FL resident and ect. Pretty easy process. I'm locked in for 60 months and they could extend if I need them to.

[Grumpy514]

For anyone I helped along the way with the "Loan Maintenance" in receiving a 2nd or 3rd check after the first expires. PenFed is now contacting me asking for proof of insurance for those months when the vehicle was not built yet.

They are saying if I cannot show proof of insurance for those 2 months then they are going to charge me almost $1100.00 as a penalty. I explained to them the car was not built yet nor was it even in the US but, they say it doesn't matter. I provided proof that the vehicle had insurance starting on it a day before pickup but they are still fighting.

I have escalated the situation trying to find a remedy, do yourself a favor and insure the vehicle as soon as you get the loan to dodge this BS. I felt the need to inform as many people as possible.



***** UPDATE

Just got off the phone with escalations. The document I provided about 2-3 weeks ago is sufficient & assured me there will be no charges. She said they are unique cases but if the vehicle was not physically in possession than no insurance is needed. The document I submitted was my buyers order (signed paperwork from the day of buying the vehicle at dealership) I also submitted a copy of my insurance card showing that insurance was on the vehicle the day prior of purchase.

[wtwo3]

This may have already been answered:

1) Do dealers have the power to reduce interest rates lower than BMWFS advertised rates
2) If you find a rate 3rd party that is lower than BMWFS advertised rates, do they ever match? I feel like it would be in their best interest (no pun intended) to match the rates as some interest revenue is better than none.

Right now my dealer is quoting a 1% markup on BMWFS advertised rates, so I'll definitely be shopping for 3rd party financing, just wondering if I have any negotiating power with the dealer. In normal times I'd absolutely push, but not sure if it's even worth it to have that conversation with them given current market.

[vj123]

Originally Posted by wtwo3

1) Do dealers have the power to reduce interest rates lower than BMWFS advertised rates
2) If you find a rate 3rd party that is lower than BMWFS advertised rates, do they ever match? I feel like it would be in their best interest (no pun intended) to match the rates as some interest revenue is better than none.

My dealer didnt mark up to BMWFS numbers but my CU was offering a lower rate. When i had a similar discussion with my CA, he recommended me to go through my CU.

If highly unlikely that a dealer would go lower than BMWFS base rate (while still financing through BMW) to match a third party lender. By doing so, they might have to eat into their profits and pay out of pocket.

[NightWriter]

Originally Posted by Grumpy514

For anyone I helped along the way with the "Loan Maintenance" in receiving a 2nd or 3rd check after the first expires. PenFed is now contacting me asking for proof of insurance for those months when the vehicle was not built yet.

They are saying if I cannot show proof of insurance for those 2 months then they are going to charge me almost $1100.00 as a penalty. I explained to them the car was not built yet nor was it even in the US but, they say it doesn't matter. I provided proof that the vehicle had insurance starting on it a day before pickup but they are still fighting.

Thanks for the heads up. Sounds like dumb bureaucratic rules getting in the way of common sense. It seems dumb having to choose between losing out on your rate lock and having to insure a car you don't yet have.

Originally Posted by wtwo3

1) Do dealers have the power to reduce interest rates lower than BMWFS advertised rates
2) If you find a rate 3rd party that is lower than BMWFS advertised rates, do they ever match? I feel like it would be in their best interest (no pun intended) to match the rates as some interest revenue is better than none.

Right now my dealer is quoting a 1% markup on BMWFS advertised rates, so I'll definitely be shopping for 3rd party financing, just wondering if I have any negotiating power with the dealer. In normal times I'd absolutely push, but not sure if it's even worth it to have that conversation with them given current market.

1) No, unless they happen to work with any other outside financers (which I doubt).
2) Only if they normally add that 1% upcharge and can then remove it. They won't be able to go below what BMWFS rates are, however sometimes BMW does have extended maintenance program specials that reduce your APR. (I took advantage of this when I purchased my M240 a few years back, and the net difference was only $6/month.)

Originally Posted by Pilla

Who has the lowest rates right now guys? I'm looking at Penfed but it seems a lot of places don't publish them. I'm thinking 72+ month financing.

There's a CU near me that currently still has 1.99% rates up to 84 months, but you have to live or reside in the County to qualify.

[Grumpy514]

Originally Posted by NightWriter

Thanks for the heads up. Sounds like dumb bureaucratic rules getting in the way of common sense. It seems dumb having to choose between losing out on your rate lock and having to insure a car you don't yet have.



1) No, unless they happen to work with any other outside financers (which I doubt).
2) Only if they normally add that 1% upcharge and can then remove it. They won't be able to go below what BMWFS rates are, however sometimes BMW does have extended maintenance program specials that reduce your APR. (I took advantage of this when I purchased my M240 a few years back, and the net difference was only $6/month.)

Take a look above, updated!

[jrm25tt]

Originally Posted by NightWriter

Thanks for the heads up. Sounds like dumb bureaucratic rules getting in the way of common sense. It seems dumb having to choose between losing out on your rate lock and having to insure a car you don't yet have.

1) No, unless they happen to work with any other outside financers (which I doubt).
2) Only if they normally add that 1% upcharge and can then remove it. They won't be able to go below what BMWFS rates are, however sometimes BMW does have extended maintenance program specials that reduce your APR. (I took advantage of this when I purchased my M240 a few years back, and the net difference was only $6/month.)

There's a CU near me that currently still has 1.99% rates up to 84 months, but you have to live or reside in the County to qualify.

Who has the 1.99%? I live in Maryland, Montgomery county.

[JDUNITNOW]

I have a couple of friends that work in the industry and they both said they have made more money than ever in the business. The consumer is being gouged by the industry.