[DocWeatherington]

Originally Posted by reli

Lease is based on the monthly and not up front... I think your right with this logic I am just looking at the monthly vs overall picture which makes much more sense when you put it this way.

I tend to not put anything down on leases but i've been hearing mix things recently or it has changed where if you where to put something down if it becomes total you don't recive that down payment vs you recieve the difference of the buyout price based on the aprasial?

Thanks

So that is the fine print of your insurance and the person you got into the accident with and state laws.

You have to understand with a lease bmw is the owner of the car. With that I would always expect that if it's totalled you get nothing. Absent lawsuits and tort claims.

A regular loan or select is different as some folks roll taxes into the payment and loan in total.

No, If the car is totaled the insurance company will look at what market value is...over the last year market value has been overvauled but recently it correcting and will likely F a lot of people in the a. Gap would cover that difference, the insurance companies goal is to pay out the least amount of money.


However, lets say you put down 20k on a lease ...would bmw FS screw a customer like that no, but why take the risk.

[reli]

Originally Posted by DocWeatherington

So that is the fine print of your insurance and the person you got into the accident with and state laws.

You have to understand with a lease bmw is the owner of the car. With that I would always expect that if it's totalled you get nothing. Absent lawsuits and tort claims.

A regular loan or select is different as some folks roll taxes into the payment and loan in total.

No, If the car is totaled the insurance company will look at what market value is...over the last year market value has been overvauled but recently it correcting and will likely F a lot of people in the a. Gap would cover that difference, the insurance companies goal is to pay out the least amount of money.


However, lets say you put down 20k on a lease ...would bmw FS screw a customer like that no, but why take the risk.

Agreed not worth the risk and the MSD's also make it not even wroth tieing up that capital at the end of the day based on the rule changes.

Lease sounds more reasonable overall when its all layed out at the end of the day with the economics at the momment or just not buy / lease a 100k car

[DocWeatherington]

Originally Posted by reli

Agreed not worth the risk and the MSD's also make it not even wroth tieing up that capital at the end of the day based on the rule changes.

Lease sounds more reasonable overall when its all layed out at the end of the day with the economics at the momment or just not buy / lease a 100k car

Congrats on the M3 haha

Yeah you can get more gain with other investment options

[BMWF90M5]

Damn that 61% residual on the non comps!

[Liquid2.0T]

Originally Posted by Achievement Tracker

Damn that 61% residual on the non comps!

Those rates are from August, are they still valid 6 months later?

[DocWeatherington]

Originally Posted by Liquid2.0T

Those rates are from August, are they still valid 6 months later?

No Bmw FS rates change monthly ...


Rates lock expire after 60/90 days after the month you apply/approval. However, you can ask for bmw to honor rates due to delays.

Residuals and incentives are not locked and change monthly

[RussM4]

What is the current Bmw finance rate? I heard in January it was 3.99 for 60 months? I would be picking up my car end of April-May. Should I lock in the current rate at 4.59 for 60 months? I know I will be looking into some credit union. Do you guys think the rates will get better in few months?

[vj123]

Originally Posted by RussM2

I would be picking up my car end of April-May. Should I lock in the current rate at 4.59 for 60 months?

Dealers were able to lock rates for 90 days (east coast) during 2021 / 2022 and you might want to check if thats still the case. In that scenario, your delivery would fall within the rate lock timeframe.

[DarthBeemer]

Hi,
I am new to the forum. I am expecting my car to arrive the port of Baltimore next week. If everything goes smoothly, I expect the car to be available at the dealership the week of Feb 19th. What would be a good time to start looking for and locking financing options? Also, any suggestions on where to look would be appreciated.
Thanks!

[Fugly M3]

Originally Posted by DarthBeemer

Hi,
I am new to the forum. I am expecting my car to arrive the port of Baltimore next week. If everything goes smoothly, I expect the car to be available at the dealership the week of Feb 19th. What would be a good time to start looking for and locking financing options? Also, any suggestions on where to look would be appreciated.
Thanks!

If you're going with BMW, it doesn't really matter as you'll be getting the February rate. If going with a bank or credit union, rates are only likely to rise again after Friday's job numbers, so apply right away to lock in before either of those groups decide to hike. As recently as last week, I think folks were getting 3.49 for 72 from Tower Credit Union. Check the "Post Your Rates," thread.

For future reference, when a car is inbound, you can lock ahead of time - 60 days for East Coast dealers and 90 days for West Coast. You probably could have had December rates from BMW locked for February delivery. December was 3.99 to 60 and 4.49 at 72 vs. I believe 4.59 to 60 and 5.09 to 72 currently.

[DocWeatherington]

Originally Posted by RussM2

What is the current Bmw finance rate? I heard in January it was 3.99 for 60 months? I would be picking up my car end of April-May. Should I lock in the current rate at 4.59 for 60 months? I know I will be looking into some credit union. Do you guys think the rates will get better in few months?

If you didn't lock in January it's moot ...

If you lock it's good for 60-90 days after the month you apply. If within that time period it goes lower you should get the lower rate.

As far as looking at credit unions ...some wont lock and if they do they only do it 30days or less. It's likely you will be able to beat BMW rates, however the FED just increase them again.


4.59% APR seems correct

[RussM4]

Originally Posted by DocWeatherington

If you didn't lock in January it's moot ...

If you lock it's good for 60-90 days after the month you apply. If within that time period it goes lower you should get the lower rate.

As far as looking at credit unions ...some wont lock and if they do they only do it 30days or less. It's likely you will be able to beat BMW rates, however the FED just increase them again.


4.59% APR seems correct

Thank you, I just locked in rate at 5.59%, The dealer is adding 1 point? are all dealers doing that? This month is 4.59 with the added 1 point from the dealer, it is 5.59%. Can I get them to remove that? I did not want to lose my allocation. Or can I work that out when I pick up the car?

[vj123]

Originally Posted by RussM2

Thank you, I just locked in rate at 5.59%, The dealer is adding 1 point? are all dealers doing that? This month is 4.59 with the added 1 point from the dealer, it is 5.59%. Can I get them to remove that? I did not want to lose my allocation. Or can I work that out when I pick up the car?

Several dealers are marking up the base rate by 1% (allowed by BMW) and some might negotiate on it if you reach out to your CA or manager. Its really a hit or miss and you wont know the answer until you ask.

[fanofbmwe46]

I locked at 5.59% today. Didn’t push on negotiating because I’m probably just going to pay cash. There is a $750 incentive if I finance but they said payoff has to be 90 days+. By that point I’d spend over $750 in interest so doesn’t seem to make sense. Unless I guess I can finance a very small amount.

['Cane]

Originally Posted by DocWeatherington

If you didn't lock in January it's moot ...

If you lock it's good for 60-90 days after the month you apply. If within that time period it goes lower you should get the lower rate.

As far as looking at credit unions ...some wont lock and if they do they only do it 30days or less. It's likely you will be able to beat BMW rates, however the FED just increase them again.


4.59% APR seems correct

They have you over a barrel. You can complain, then they can say take it or leave it. You can try and find alternate financing, and they can say they only finance with BMWFS. Not too much you can do, except try and negotiate. Rates are crappy right now.

[DocWeatherington]

Originally Posted by 'Cane

They have you over a barrel. You can complain, then they can say take it or leave it. You can try and find alternate financing, and they can say they only finance with BMWFS. Not too much you can do, except try and negotiate. Rates are crappy right now.

Agree, now isn't the time to buy or sell a house or a car.

Or pay a small markup and find credit union and do you own.

[HK4]

My question to you guys is how do I go about approaching my delear with outside financing once delivery day arrives. Does delear have to honor.

I've known my sale advisor for 5 yrs now, nice guy, have never gotten a supurb deal like I see on these forums with lease rates. But this time I'm looking for more leverage. I see a lot of people on the forum presenting outside finaning to their dealer for lesser rates.

Do we always have to go with bmw financial??

Someone please help with this process. My delivery looking like April or May. Sorry if this has been asked elsewhere

[gohawks23]

Originally Posted by HK4

My question to you guys is how do I go about approaching my delear with outside financing once delivery day arrives. Does delear have to honor.

I've known my sale advisor for 5 yrs now, nice guy, have never gotten a supurb deal like I see on these forums with lease rates. But this time I'm looking for more leverage. I see a lot of people on the forum presenting outside finaning to their dealer for lesser rates.

Do we always have to go with bmw financial??

Someone please help with this process. My delivery looking like April or May. Sorry if this has been asked elsewhere

They can tell you to finance/lease with us or walk because it will sell to somebody else and probably for more than you will pay.

[vj123]

Originally Posted by HK4

My question to you guys is how do I go about approaching my delear with outside financing once delivery day arrives. Does delear have to honor.

Its better to tell your plan when you finalize the deal so that the dealer is aware of it and some dealers wouldnt have any issue. Looks like you might have already placed the order and i would highly recommend to bring this topic up with CA now and not right before delivery.

[DocWeatherington]

Originally Posted by HK4

My question to you guys is how do I go about approaching my delear with outside financing once delivery day arrives. Does delear have to honor.

I've known my sale advisor for 5 yrs now, nice guy, have never gotten a supurb deal like I see on these forums with lease rates. But this time I'm looking for more leverage. I see a lot of people on the forum presenting outside finaning to their dealer for lesser rates.

Do we always have to go with bmw financial??

Someone please help with this process. My delivery looking like April or May. Sorry if this has been asked elsewhere

Like others have said, they may want you to use local finance or if not may do a mark-up, some may do both.

In either case you really have no leverage in this market as someone will pay and buy it.


My advice is ask beforehand then have loan options on lock then adjust when it gets near delivery. Do the math of the ENTIRE deal and refi if needed or in some cases a few K in markup is easy to swallow with finding an better outside rate and any incentives.

My car was built back in November with a rate lock in Sept with another one in December and I still don't have the car and since then rates have doubled and the car went up in MRSP.

[DocWeatherington]

Originally Posted by fanofbmwe46

I locked at 5.59% today. Didn’t push on negotiating because I’m probably just going to pay cash. There is a $750 incentive if I finance but they said payoff has to be 90 days+. By that point I’d spend over $750 in interest so doesn’t seem to make sense. Unless I guess I can finance a very small amount.

No they want you to pay off in 90days so they get there kickback.

You can pay off in a few weeks after doing the deal once it gets loaded in BMWFS.

You still get the 750. Dealer losses kickbacks over the period.

[RussM4]

That is exactly what is happening to me!! after I get the car I will refinance through a credit union! Does anyone know how long after I can refinance? 5.49 for 60 months with the added point, also I have to finance through them only and has to be 60k or above. its crazy!!!

Originally Posted by 'Cane

They have you over a barrel. You can complain, then they can say take it or leave it. You can try and find alternate financing, and they can say they only finance with BMWFS. Not too much you can do, except try and negotiate. Rates are crappy right now.