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      07-05-2012, 04:05 PM   #1
cmhsam
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M5 rate locks

When are people going to lock their rates for the M5. Is it worth waiting for the August programs?
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      07-05-2012, 04:42 PM   #2
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wait 'till 7/10 at least
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      07-06-2012, 02:10 PM   #3
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Have APRs for purchasers been released?
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      07-06-2012, 02:19 PM   #4
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Based on how terrible the residuals are, Im worried about BMW financing APRs.
This is a good question
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      07-06-2012, 02:29 PM   #5
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For some reason I had it in my head they (APRs) were supposed to be out this week, but I may have been mistaken. Wouldn't surprise me if for the ED purchasers we are looking at >4 % from BMW. They have to know that as soon as the car is back in the country that refinancing will occur with other lenders, and their profit window will be tied to a very short period.
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      07-06-2012, 02:37 PM   #6
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U can always just finance with a place like penfed from the outset. Why worry about BMWs rates?
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      07-06-2012, 02:43 PM   #7
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The rates will be shit. BMW can always move cars for the first couple of months of a model year. Last year we didn't see good rates till November. If you want good rates it's best to buy in December.

This is why I'm just doing cash. If I waited till December I could get 0.9% for 24 months, but I don't think that will be available till at least mid-November, and I'd rather not wait.
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      07-07-2012, 06:42 AM   #8
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Not everyone qualifies for Penfed (pentagon worker / military)
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      07-07-2012, 06:58 AM   #9
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Quote:
Originally Posted by johntomferg View Post
Not everyone qualifies for Penfed (pentagon worker / military)
incorrect. Id suggest checking out their website. And they've financed my prior ED's

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      07-07-2012, 07:13 AM   #10
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It says loan amount upto $70k only.....

Quote:
Originally Posted by ucla95 View Post
incorrect. Id suggest checking out their website. And they've financed my prior ED's
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      07-07-2012, 07:48 AM   #11
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My dealer told me it had to be BMWFS for a ED, is this not correct?
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      07-07-2012, 08:46 AM   #12
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Quote:
Originally Posted by cmhsam View Post
When are people going to lock their rates for the M5. Is it worth waiting for the August programs?
While I don't expect any changes, there's no reason not to wait until the August numbers come out. If they are worse, your dealer can lock the July rates. You'll be signing the paperwork around August 15th for a September 1st ED which is well within the 60 day lock window.
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      07-07-2012, 09:28 AM   #13
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Quote:
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My dealer told me it had to be BMWFS for a ED, is this not correct?
Not correct. Not all lenders are comfortable with it - however some are.
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      07-07-2012, 05:18 PM   #14
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Quote:
Originally Posted by ucla95 View Post
Not correct. Not all lenders are comfortable with it - however some are.
I also was told I had to finance with BMWFS then refi after car is redelivered to US dealer.

PenFed will finance for the entire ED portion? When can we start the process? Once there is a VIN?
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      07-07-2012, 07:27 PM   #15
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Quote:
Originally Posted by mwlmd
Quote:
Originally Posted by ucla95 View Post
Not correct. Not all lenders are comfortable with it - however some are.
I also was told I had to finance with BMWFS then refi after car is redelivered to US dealer.

PenFed will finance for the entire ED portion? When can we start the process? Once there is a VIN?
Well like anything they could have changed their policies, but I've used them from the outset on prior EDs. Yes you need to wait for the VIN, but u can get preapproved in advance.
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      07-07-2012, 10:54 PM   #16
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I was also told ED must be through BMW Finance by dealer. Either way, it's just a matter of paperwork once car is on American soil to switch finance companies. I hate extra paperwork
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      07-10-2012, 10:06 AM   #17
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There is a new $750 loyalty cash offer for all current owners whose lease/finance matured in the past 12 months.
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      07-10-2012, 10:59 AM   #18
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Quote:
Originally Posted by cmhsam View Post
There is a new $750 loyalty cash offer for all current owners whose lease/finance matured in the past 12 months.
Offered from BMW FS? Any other details on how to get this?
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      07-10-2012, 11:49 AM   #19
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Quote:
Originally Posted by AGS
Quote:
Originally Posted by cmhsam View Post
There is a new $750 loyalty cash offer for all current owners whose lease/finance matured in the past 12 months.
Offered from BMW FS? Any other details on how to get this?
It's a loyalty rebate offered through BMW. I am not sure if you have to finance or lease
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      07-10-2012, 06:14 PM   #20
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I was able to lock my rate today but couldn't complete any paperwork for the purchase since there is no VIN. Guess we have to wait until a VIN is generated.
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      07-10-2012, 07:34 PM   #21
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Do we have to finance or lease through bmwsfs to get this $750 rebate ?

Quote:
Originally Posted by cmhsam View Post
I was able to lock my rate today but couldn't complete any paperwork for the purchase since there is no VIN. Guess we have to wait until a VIN is generated.
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      07-10-2012, 07:37 PM   #22
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Quote:
Originally Posted by journeyguy
Do we have to finance or lease through bmwsfs to get this $750 rebate ?

Quote:
Originally Posted by cmhsam View Post
I was able to lock my rate today but couldn't complete any paperwork for the purchase since there is no VIN. Guess we have to wait until a VIN is generated.
I believe so
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