[G80SWFL]

Who has used this incentive and got the $2500 off? If you can please explain and who do you have to finance with thanks

[aford]

It's my understanding (for MY 21) that you can finance with anyone other than BMW Financial if you want to take advantage of the $2,500. I'm told that in doing so it can't be combined with Loyalty which requires you to take advantage of BMW Financial (buy or lease).

If you do want to use BMW financial (rates are super low) you can still use PenFed to get an additional $500 which combines with Loyalty for $500 for a total of $1,000.

You need to be a PenFed member for 60 days to get the discount code to supply to your dealer. I haven't looked to see if the same offers exist for MY 22.

[MKParris]

Originally Posted by aford

It's my understanding (for MY 21) that you can finance with anyone other than BMW Financial if you want to take advantage of the $2,500. I'm told that in doing so it can't be combined with Loyalty which requires you to take advantage of BMW Financial (buy or lease).

If you do want to use BMW financial (rates are super low) you can still use PenFed to get an additional $500 which combines with Loyalty for $500 for a total of $1,000.

You need to be a PenFed member for 60 days to get the discount code to supply to your dealer. I haven't looked to see if the same offers exist for MY 22.

This is completely correct. I am doing the second option with loyalty and going with BMW fs.

[G80SWFL]

Originally Posted by MKParris

This is completely correct. I am doing the second option with loyalty and going with BMW fs.

Well looks like I'm screwed I went to generate a code to see if it's available for model 22 and it only shows for 2021 models. And I'm going to take delivery in late august or September on a 2022 model

[r3dbimmer89]

As all have mentioned above. $2,500 for an outside bank and $500 if you use the captive lender (BMW FS). If you do the math at 0.9% compared to 2-3% over the life of the loan would save much more than $2,500.

[G80SWFL]

Originally Posted by r3dbimmer89

As all have mentioned above. $2,500 for an outside bank and $500 if you use the captive lender (BMW FS). If you do the math at 0.9% compared to 2-3% over the life of the loan would save much more than $2,500.

That 0.9 % is only available for 2021 not 2022 so screwed across all boards

[G80SWFL]

Originally Posted by r3dbimmer89

As all have mentioned above. $2,500 for an outside bank and $500 if you use the captive lender (BMW FS). If you do the math at 0.9% compared to 2-3% over the life of the loan would save much more than $2,500.

"2021"

[r3dbimmer89]

Originally Posted by G80SWFL

"2021"

There may be a code available for 22 MY by August or Sept. I have seen Penfed offer codes for current MY and upcoming MY vehicles concurrently around that time throughout the fall, winter, and into spring.

[G80SWFL]

Originally Posted by r3dbimmer89

There may be a code available for 22 MY by August or Sept. I have seen Penfed offer codes for current MY and upcoming MY vehicles concurrently around that time throughout the fall, winter, and into spring.

According to the customer service once I generated the code which I did today I'm screwed. So they can add a 2022 model in a month or two possibly but I can't get a new code due to already having one.(the code I got today specifically says 2021 models)

[luckylingy]

I’m in the same exact boat as you. 2022 M3C on order for August build (presumed October delivery). I’m a 15+ year PenFed member and secured my code earlier today. I’ll finance through them or BMW FS when the time comes, based on whichever yields the lower payment. I suspect by then the PenFed incentive will apply as well to MY2022 (and not exclude M3/4 Competition models).

[wooblewobble]

Penfed has some low rates if you use their referral service as well, but I don't know how to do that if you have a deal papered already. When I was looking, they had 0.99% for 60 months, comparable to BMWFS, and you could get the full $2,500 rebate. I ended up doing the $500 with BMWFS at 0.9% for 60 months and 0 down. Put the cash I would've spent on the car in the market and already made back the interest I'm going to pay and then some!

[Multimodal]

You can generate a new code anytime.

The best combo is using PenFed's referral service to qualify for a reduced rate (1.24%) loan and taking the $2500 rebate. If you don't want to use the dealer they refer you to, you can get 1.49% with Digital Credit Union. I found either of those combos was better than 0.9% with a $500 rebate.

[mlover789]

Still deciding between 2500 off vs lease... 1k off with lease 500 and loyalty

I had an accident before on my lease vehicle (rear ended twice) and I got to return it no issues..

[G80SWFL]

Originally Posted by Mr. Maboomba

You can generate a new code anytime.

The best combo is using PenFed's referral service to qualify for a reduced rate (1.24%) loan and taking the $2500 rebate. If you don't want to use the dealer they refer you to, you can get 1.49% with Digital Credit Union. I found either of those combos was better than 0.9% with a $500 rebate.

I already generated a code I'm told I can't generate another one due to already having one

[r3dbimmer89]

Originally Posted by G80SWFL

I already generated a code I'm told I can't generate another one due to already having one

There's usually an expiration date...can't remember how long it takes before it expires

[G80SWFL]

Originally Posted by r3dbimmer89

There's usually an expiration date...can't remember how long it takes before it expires

Expires January 2022

[iviegatron]

At what part of the process is the incentive mentioned?

I called PenFed the other day before I applied for the auto loan to see if they had the incentive for 2022 and they said no which made sense. Then I asked about 2021 and they still said no. I'm guessing the agent was clueless.

[Bch53211]

Originally Posted by iviegatron

At what part of the process is the incentive mentioned?

I called PenFed the other day before I applied for the auto loan to see if they had the incentive for 2022 and they said no which made sense. Then I asked about 2021 and they still said no. I'm guessing the agent was clueless.

The customer service there sucks no one has a clue- I’ve asked several times about the 500$ incentive and no one has been able to answer .

[MKParris]

Originally Posted by Bch53211

The customer service there sucks no one has a clue- I’ve asked several times about the 500$ incentive and no one has been able to answer .

I called as well….clueless.

[backslashv]

Originally Posted by Mr. Maboomba

You can generate a new code anytime.

The best combo is using PenFed's referral service to qualify for a reduced rate (1.24%) loan and taking the $2500 rebate. If you don't want to use the dealer they refer you to, you can get 1.49% with Digital Credit Union. I found either of those combos was better than 0.9% with a $500 rebate.

So you go to their referred dealer but still finance with PenFed?

[Multimodal]

Yes, to get the $2500 rebate and discounted PenFed loan you have to generate a referral voucher via the PenFed Car Buying Service (which is really TrueCar, the same dealership referral program that powers the Costco Auto Program and others) and buy your car from that dealer and use PenFed to finance it.

PenFed (via the TrueCar network) refers you to a specific dealership. If you buy from that dealer, they pay TrueCar (PenFed) a referral fee and PenFed will give you a 0.5% discount on your auto loan.

You can benefit from the $2500 rebate at any BMW dealer and with any financing other than BMW Financial Services.

[Limegrntaln]

Originally Posted by Mr. Maboomba

Yes, to get the $2500 rebate and discounted PenFed loan you have to generate a referral voucher via the PenFed Car Buying Service (which is really TrueCar, the same dealership referral program that powers the Costco Auto Program and others) and buy your car from that dealer and use PenFed to finance it.

PenFed (via the TrueCar network) refers you to a specific dealership. If you buy from that dealer, they pay TrueCar (PenFed) a referral fee and PenFed will give you a 0.5% discount on your auto loan.

You can benefit from the $2500 rebate at any BMW dealer and with any financing other than BMW Financial Services.

The Military one works the same way. I clicked a link, on this site, for a USAA/ GovX discount, and it sent me to TrueCar, and I was able to get my certificate for $2,500 off which includes 2021s, but doesn't include 2022s yet. I hope I can get an updated one, when the 2022 vouchers are available.