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2019+ BMW 3 AND 4-SERIES FORUMS (G2x Generation) Ordering / Pricing / Order Tracking Forum BMWFS Loan Questions

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      06-26-2019, 08:11 AM   #1
chelles
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BMWFS Loan Questions

Hello! I had planned to pay cash for my new 330i but with the incentives for financing, I'm trying to find a way to take advantage of those.

Anyone have any experience to be able to answer the following?
  1. What is the minimum amount I'd need to finance to take advantage of incentives? I'd plan to put the rest in a down payment.
  2. Are there any penalties to pay off the loan early? Ideally I'd like to pay off within 2-3 months.
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      06-26-2019, 09:12 AM   #2
JasonX4MComp
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Quote:
Originally Posted by chelles View Post
Hello! I had planned to pay cash for my new 330i but with the incentives for financing, I'm trying to find a way to take advantage of those.

Anyone have any experience to be able to answer the following?
  1. What is the minimum amount I'd need to finance to take advantage of incentives? I'd plan to put the rest in a down payment.
  2. Are there any penalties to pay off the loan early? Ideally I'd like to pay off within 2-3 months.
1. $7500
2. No
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      06-26-2019, 01:12 PM   #3
bimmer813
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Quote:
Originally Posted by chelles View Post
Hello! I had planned to pay cash for my new 330i but with the incentives for financing, I'm trying to find a way to take advantage of those.

Anyone have any experience to be able to answer the following?
  1. What is the minimum amount I'd need to finance to take advantage of incentives? I'd plan to put the rest in a down payment.
  2. Are there any penalties to pay off the loan early? Ideally I'd like to pay off within 2-3 months.
Minimum amount is 7500, there are no penalties to paying the loan off early as the lowest rate is for the shortest term.

There is more than just the standard rebate if you finance with BMWFS, I don't know if I'm supposed to post that here so please PM me and I can assist.
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      06-29-2019, 04:07 PM   #4
phillyd2
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I did the same but was told I needed to make 3 payments and then can pay it off in the 4th month.
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      07-30-2021, 09:23 AM   #5
Moonbags
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I got the incentive and a .9% APR on financing so I picked a comfortable payment and am enjoying some "free" debt. If you can't beat .9% with a low-risk investment….


I think they asked me to please not pay it off for two months.
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      07-30-2021, 09:42 AM   #6
SteveinArizona
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Quote:
Originally Posted by phillyd2 View Post
I did the same but was told I needed to make 3 payments and then can pay it off in the 4th month.
You can pay it off at any time BUT if you do so before three months have elapsed (at least that was the rule 3.5 years ago when I bought my car) BMWFS will go after the dealership for the incentive. I believe in having a good relationship with my dealership (it helped when I decided that my prior car was a lemon and wanted BMW to buy it back which it did with the assistance of the service manager) so I made four payments and then paid it off.
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      10-19-2022, 11:04 PM   #7
muwlshuai
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Quote:
Originally Posted by phillyd2 View Post
I did the same but was told I needed to make 3 payments and then can pay it off in the 4th month.
I think this is a soft limit, if customer paying off within a short period, BMWFS may charge back the incentives to dealer.


What's the current rate of BMWFS and incentive amount?
I think the rate is 5% or higher?
loyalty and OL code require BMWFS
but if you have corp cert, you can pay cash and get the incentive as well
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      10-19-2022, 11:06 PM   #8
muwlshuai
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Quote:
Originally Posted by Moonbags View Post
I got the incentive and a .9% APR on financing so I picked a comfortable payment and am enjoying some "free" debt. If you can't beat .9% with a low-risk investment….


I think they asked me to please not pay it off for two months.

0.9% rate from BMWFS? I haven't heard any credit union or banks offer this rate nowadays. . .. .
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      10-20-2022, 09:28 AM   #9
TurtleBoy
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Quote:
Originally Posted by muwlshuai View Post
0.9% rate from BMWFS? I haven't heard any credit union or banks offer this rate nowadays. . .. .
You are replying to a post over a year old. I got .9% from BMWFS last year also.
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