[DocWeatherington]

Originally Posted by antzcrashing

I would consider it a win if I could get 4.99 from BMW FS for 60mo. Hope I can land that. Do you guys find that BMW holds your app until you get an allocation? I have heard only crickets after giving my info on this.

Rate locks are only good for 90 (east coast)or 120 (west coast)days from the month in which you apply.

With that if your car hits delays they likely will honor it if it exceeds those time periods and or the dealership can request and extension.

However its only good for whatever you applied for so if your thinking lease or loan apply for both and lock.

Also if your awaiting an allocation I don't think that counts as who knows when the car will get built. I would lock with a production number. Again ask the dealership but the clock starts the moment the loan is approved.

[FXMR]

How do these locks work? Do they follow residuals as well or is that variable at time of delivery?

I asked my CA to lock in March rates (0.00185 and 61% 36/12) which was done. I see the MF dropped to 0.00165 for April but am hearing the residuals dropped as well.

I’m slotted to take delivery by end of month. Does the lock carry through for March residuals and MF? Just residual? Just MF? None?

[DocWeatherington]

Originally Posted by FXMR

How do these locks work? Do they follow residuals as well or is that variable at time of delivery?

I asked my CA to lock in March rates (0.00185 and 61% 36/12) which was done. I see the MF dropped to 0.00165 for April but am hearing the residuals dropped as well.

I’m slotted to take delivery by end of month. Does the lock carry through for March residuals and MF? Just residual? Just MF? None?

No, residuals and incentives are not locked and are applicable only to the month in which you officially purchase the car.

That is correct residuals did drop as well..

Only thing that locks is the MF/Leading rate for the period as indicated on your approval.

You could wait to see what may brings if you can push the delivery but it may not be any better or rates could adjust up.

You should inquire if they will by default give you the new rate which they should..if they seem questionable ...do a new approval and lock in the .000165.


Correction /update -------they are locked within the period of the application however one must chose which program within the period. However it must be done within the approval time or it defaults back to the month in which you officially purchase or your dealer may honor it or request an extensions for those that are delayed.

[FXMR]

Originally Posted by DocWeatherington

No, residuals and incentives are not locked and are applicable only to the month in which you officially purchase the car.

That is correct residuals did drop as well..

Only thing that locks is the MF/Leading rate for the period as indicated on your approval.

You could wait to see what may brings if you can push the delivery but it may not be any better or rates could adjust up.

You should inquire if they will by default give you the new rate which they should..if they seem questionable ...do a new approval and lock in the .000165.

I see…thank you.

So despite being approved in the March program, I am not locked in at the 61% residual. That stinks…

[DocWeatherington]

Originally Posted by FXMR

I see…thank you.

So despite being approved in the March program, I am not locked in at the 61% residual. That stinks…

But your loan rate is lower ..there isn't going to be a difference in the sell price in a private market sale vs a march sale of a 23 vs a July sale.

[antzcrashing]

Originally Posted by DocWeatherington

No, residuals and incentives are not locked and are applicable only to the month in which you officially purchase the car.

That is correct residuals did drop as well..

Only thing that locks is the MF/Leading rate for the period as indicated on your approval.

You could wait to see what may brings if you can push the delivery but it may not be any better or rates could adjust up.

You should inquire if they will by default give you the new rate which they should..if they seem questionable ...do a new approval and lock in the .000165.

Is this true?

I have my doubts. Can anyone confirm?

[FXMR]

Originally Posted by DocWeatherington

But your loan rate is lower ..there isn't going to be a difference in the sell price in a private market sale vs a march sale of a 23 vs a July sale.

Makes sense. Payment is higher (negligible) but I guess looking at it from a value standpoint you are correct. I’ve never leased my M’s but the sales tax on this one makes me want to as I don’t plan on keeping it the entire term. I am in a “sales tax on monthly payment” state.

Originally Posted by antzcrashing

Is this true?

I have my doubts. Can anyone confirm?

Yes it looks like a -2% residual across the board for 6spds. I am not sure about Comps.

[DocWeatherington]

Originally Posted by FXMR

Yes it looks like a -2% residual across the board for 6spds. I am not sure about Comps.

Leases by default are designed to be on point if not ensured to have equity at least end.

Car markets aren't in the business to lose on lease returns. 95% of people that lease will lease a car and turn it in am never look at the actual value of the car. With that if there is positive equity it's yours to cash in on.

You do have cars in which they tank but some manufacturers will stack a ton of incentives to move them.

[DocWeatherington]

Originally Posted by antzcrashing

Is this true?

I have my doubts. Can anyone confirm?

Lol... Hmmm talk to your dealership ...

Residuals are -correction-not locked beyond the approval timeline as all leases are a deprecating asset which losses value in time and usage.


Residuals likely will go up but I would bet it won't be until MY24 for the M3 or MY25 for the M4.

https://forums.edmunds.com/discussio...als-and-prices


https://forums.edmunds.com/discussio...als-and-prices

I am betting they don't have MY24 M4s ,MFs either as there aren't any stateside to purchase yet.

[IrvG80]

I got lucky and got me 23 G80 Xdrive w/buckets in the Frozen Pure Grey ii at invoice. I do Finance for BMW so any advice you guys want I am here for you.

[Vitacura]

Originally Posted by FXMR

How do these locks work? Do they follow residuals as well or is that variable at time of delivery?

I asked my CA to lock in March rates (0.00185 and 61% 36/12) which was done. I see the MF dropped to 0.00165 for April but am hearing the residuals dropped as well.

I’m slotted to take delivery by end of month. Does the lock carry through for March residuals and MF? Just residual? Just MF? None?

Unless things have changed in the last few months since I took delivery, there is some incorrect information on here.

With an approved credit app you can use any months program that work best for you between the initial app and the delivery, so long as the app lock hasn't expired.

You cannot mix and match different month's residuals/MF/Incentives though. But the residual, incentives, lease money factor or APR financing rate are locked in with an approved credit app. Just pick the month with the best overall deal at delivery. On my last lease, the residual and incentives were best at the time of application and that's what my CA and I went with.

[MisPWR]

Originally Posted by Goettler_Boost

Freeport BMW, going to speak to Rallye and Competition next. I thought the green/orange combo was sitting at Freeport because the interior choice isn’t the best… it’s just the outrageous price. Lol.

Here’s what they had listed on Autotrader, MSRP

Yeah they mark up..
I’m looking at a M3 in NJ, “MSRP” but mandatory “BMW Pro Ceramic Wrap” for $5k and “BMW Ultimate Care” for $850. Required charges. Pretty much a mark up in disguise.

[GScott]

Originally Posted by MisPWR

Yeah they mark up..
I’m looking at a M3 in NJ, “MSRP” but mandatory “BMW Pro Ceramic Wrap” for $5k and “BMW Ultimate Care” for $850. Required charges. Pretty much a mark up in disguise.

The BMW Ultimate Care is a no-brainer IMHO. Just one of the included brake replacements will cost you much more than $850. If you don’t need at least 1 and probably 2 brake replacements in 36k miles you aren’t driving it as it was intended.

[MisPWR]

Originally Posted by GScott

The BMW Ultimate Care is a no-brainer IMHO. Just one of the included brake replacements will cost you much more than $850.

I’m fine with the Ultimate care, but I honestly rather have my own paint correction, PPF, and ceramic coating done by a buddy of mine who has a detailing business for less than $5k.

[antzcrashing]

Originally Posted by IrvG80

I got lucky and got me 23 G80 Xdrive w/buckets in the Frozen Pure Grey ii at invoice. I do Finance for BMW so any advice you guys want I am here for you.

Bro, frozen pure grey is amazing. Please send photos of your M. Or DM me. Appreciate you in advance

[DocWeatherington]

Originally Posted by Vitacura

Unless things have changed in the last few months since I took delivery, there is some incorrect information on here.

With an approved credit app you can use any months program that work best for you between the initial app and the delivery, so long as the app lock hasn't expired.

You cannot mix and match different month's residuals/MF/Incentives though. But the residual, incentives, lease money factor or APR financing rate are locked in with an approved credit app. Just pick the month with the best overall deal at delivery. On my last lease, the residual and incentives were best at the time of application and that's what my CA and I went with.

FXMR

Residual and Incentives are not locked.

Those are offers that are only applicable at the month of purchase as they have dates and expire.

Now if the incentive didn't change from month a to month b its the same but if it goes up or down you only get the month in which you fully purchase the car.

You are correct that you cannot mix and match... Only thing you can adjust if it goes lower is the loan rate.

See below.... Programs vary by zipcode why you check on Edmunds.

[Vitacura]

Originally Posted by DocWeatherington

FXMR

Residual and Incentives are not locked.

Disagree.. they are lockable with an approved credit app. I took advantage of that myself late last year when I used the numbers from order and not delivery.

Nothing in the info you quoted shows otherwise, they just show this months offer. Don't take it from me, I suggest you reach out to your CA to get confirmation as I have.

[PeterKBMW]

Originally Posted by DocWeatherington

Haha...

Nah, you CA likely gave you a hook up or what you got was the same as the month you applied. It's lockable but it's not lockable beyond month to month.

Or perhaps we both are correct but not correctly phrasing it.

We can agree to disagree, in the end it's up to the CA and bmw FS.

You are 100% incorrect. I work for BMW so I can ensure to everyone on this forum that if you submit a credit app and are approved: your rebates, rates, and residuals are 100% locked.

As another member mentioned above, you can not mix and match programs from different months. If you lock this month, and take delivery next month, you have to pick which months combo of rate/rebates/residual you’re going with.

[DocWeatherington]

Originally Posted by PeterKBMW

You are 100% incorrect. I work for BMW so I can ensure to everyone on this forum that if you submit a credit app and are approved: your rebates, rates, and residuals are 100% locked.

As another member mentioned above, you can not mix and match programs from different months. If you lock this month, and take delivery next month, you have to pick which months combo of rate/rebates/residual you’re going with.

I never said they are not 100% locked...

They are not locked indefinitely... Look 15 posts up... This is where the whole topic of conversation started.

It took me 6 months to get my car...

I did two rate locks and the dealership would not give me December rebates however did honor Decemeber MF/residual in late Feb off the second lock. If I waited another week I would of then been subject to marches rates as everything would have expired and then had to take the months rates in which purchased the car. Which I signed in Feb and took possession on March 6th.

I didn't explain it correctly but I apologize to the forum.

[BimmerFix]

DocWeatherington PeterKBMW

Sorry if this is a silly question, but can Lease bonus & Loyalty be combined ? I would think not but just wanted to confirm

And what is the cut off time for Loyalty eligibility ? Believe I heard 1 year from my CA but not sure if that info is correct. I turned my 540i lease in to BMW on August 2022 . TIA

[DocWeatherington]

My understanding is for loyalty you to have proof in the last 12months you owned any bmw. Normally just provide prior registration .

I believe that's is stackable as your doing a new lease.


This is old as ED is dead...but defer to PeterKBMW


I will also note you can get CCA but have to meet the terms.

[BimmerFix]

Originally Posted by DocWeatherington

My understanding is for loyalty you to have proof in the last 12months you owned any bmw. Normally just provide prior registration .

I believe that's is stackable as your doing a new lease.


This is old as ED is dead...but defer to PeterKBMW


I will also note you can get CCA but have to meet the terms.

Appreciate it brodie