Advanced Announcement of Fianancing Offers?

[malapane]

Does anyone know exactly when and how BMW announces the next financing offer?

I am sure it is as late as possible - to get people motivated to take advantage of the current offer, but in Feb/March, it looked like the extension was announced at least two weeks before the old offer expired.

I may be finalizing payment on my order at the end of March, and I am dying to know if a program starting April 1st will be better or worse than the 3.9% and two free payments.

Anyone got any experience with this?

[dbtheo]

Originally Posted by malapane

Does anyone know exactly when and how BMW announces the next financing offer?

I am sure it is as late as possible - to get people motivated to take advantage of the current offer, but in Feb/March, it looked like the extension was announced at least two weeks before the old offer expired.

I may be finalizing payment on my order at the end of March, and I am dying to know if a program starting April 1st will be better or worse than the 3.9% and two free payments.

Anyone got any experience with this?

There was never an extension, it was a 2 month program to begin with. BMW typically does not announce the new programs until a day or two into the new month. Personally I would not bet on the program being better, just different. Maybe a lower rate, but expect the 2 payments to go away.

[LemansE82]

Here is my situation.

My dealer found a inbound car next week, but found out that it was sold to a member here. There isn't a car in the tri-state area near to what I want. So...my route is to order one. I'm already approved for the 3.9% and two payments. So, i'm thinking i'm locked in for now.
If the rates changes in April, can I go for the new one if any?

[hbdunn2003]

Originally Posted by xXxMLEExXx

Here is my situation.

My dealer found a inbound car next week, but found out that it was sold to a member here. There isn't a car in the tri-state area near to what I want. So...my route is to order one. I'm already approved for the 3.9% and two payments. So, i'm thinking i'm locked in for now.
If the rates changes in April, can I go for the new one if any?

The only way to get the two payments is to finance the car before April 1.

The way this was explained to me is you would have to have the VIN and start making the payments by April 1.

Otherwise you are only locked in for the 3.9%

[dkommor]

I took delivery on Friday and my CA thinks that the the deals will be getting more conservative as Spring approaches. She said that sales have picked up and Spring usually brings out the buyers. I'm not sure if this was just "sales speak". Good luck....the car is awesome!

[LemansE82]

Originally Posted by hbdunn2003

The only way to get the two payments is to finance the car before April 1.

The way this was explained to me is you would have to have the VIN and start making the payments by April 1.

Otherwise you are only locked in for the 3.9%

Hmm..that's not good. I'll have to check with my SA again.
I was told different.

[shodanusmc]

A sales person will never lie to you. If you order your car before the end of March, you get the 3.9 and 2 free payments.

[hbdunn2003]

Originally Posted by shodanusmc

A sales person will never lie to you. If you order your car before the end of March, you get the 3.9 and 2 free payments.

That is not true.

You must sign the finance contract by the end of March.

[LemansE82]

Originally Posted by shodanusmc

A sales person will never lie to you. If you order your car before the end of March, you get the 3.9 and 2 free payments.

A lot of cases the SA don't know themselves.

I like the option of locking this in for this month and if something better comes along next month I can switch.

[malapane]

Well, if the new program is announced after the old one is dead, then I either take the program, or roll the dice and see what comes in the first few days of April.

If they do not renew the 2 free payments, in my case, I would need a new interest rate of 2.5% or lower to equal the current program.

What is the likelyhood that a new spring program would be 2.5% or less?

As far as the lock of the current plan, I am not sure, but as I understand it you need a VIN or Production # to process the financing. I think the Production # comes soon after the order is entered. So if you are ordering now , there should not be a problem processing your financing by the 31st. Can someone else confirm this?

On the same topic: On a new order, exactly when are the production # and VIN issued? - Assuming it is a new fresh order - not an allocated car that is reconfigured.

[shodanusmc]

I have my tracking number, and my car lands on 3/17 in South Carolina. According to myt dealer, it is locked in as the car was ordered. If the rate goes lower, you also get that. Even if I do not pick it up until 4/5, the rate and 2 free are locked in.

[malapane]

shodanusmc,

How long after your order entry did the dealer give you your tracking info?

[shodanusmc]

Originally Posted by malapane

shodanusmc,

How long after your order entry did the dealer give you your tracking info?

I believe I got it from him a week after I ordered it..that is when I called, and he told me all I needed to know to track in on the BMWUSA.Com site. I would hope we get in around 3/24.

[dbtheo]

1) If you don't have all contracts & paperwork done by April 1st, you do not get free payments.
2) You cannot use a production # to complete paperwork. You need a vin, without it, you cannot title the car.
3) You CAN lock the finance rate while a car is on order
4) TRUE, the deals & rates tend to get softer in the spring & summer time, doesn't mean they won't get better. But don't lose out.

[SpacE82]

Originally Posted by dbtheo

1) If you don't have all contracts & paperwork done by April 1st, you do not get free payments.
2) You cannot use a production # to complete paperwork. You need a vin, without it, you cannot title the car.
3) You CAN lock the finance rate while a car is on order
4) TRUE, the deals & rates tend to get softer in the spring & summer time, doesn't mean they won't get better. But don't lose out.

Thats what my salesman told me. He said that I need to take delivery of the car by March 31st to get the two payments. But the rate is locked in. They can't lock the two payments in. He also said if there is a better deal, within I think 60 days, I am entitled to it.

[malapane]

This is all good info. Thanks everyone for your input.

That leaves one question. Since the VIN is required to process the paperwork and get the two free payments, when - based on order entry - does the VIN get assigned for a Euro delivery?

[shodanusmc]

Call your salesperson. They should be abler to give you the straight scoop.

[SLO]

Originally Posted by malapane

Well, if the new program is announced after the old one is dead, then I either take the program, or roll the dice and see what comes in the first few days of April.

If they do not renew the 2 free payments, in my case, I would need a new interest rate of 2.5% or lower to equal the current program.

What is the likelyhood that a new spring program would be 2.5% or less?

As far as the lock of the current plan, I am not sure, but as I understand it you need a VIN or Production # to process the financing. I think the Production # comes soon after the order is entered. So if you are ordering now , there should not be a problem processing your financing by the 31st. Can someone else confirm this?

On the same topic: On a new order, exactly when are the production # and VIN issued? - Assuming it is a new fresh order - not an allocated car that is reconfigured.

How did you figure that the rates needed to be below 2.5% for it to be a better deal? What monthly payment does that factor in?

[malapane]

Well, that was the math for my situation.

At 3.9% I wanted to finance about 27,000 for 5 years to give a payment below $500/month. With two free payments, that it a savings of $1000. So on 27,000 financed, to save 1000 with just the financing and no free payments, the rate would need to be 2.5% or lower to get the $1000 back over 5 years. I know this doesn't figure exactly, but just for my own comparison. I used a simple loan payment calculator to figure the payment.

[dbtheo]

Originally Posted by malapane

This is all good info. Thanks everyone for your input.

That leaves one question. Since the VIN is required to process the paperwork and get the two free payments, when - based on order entry - does the VIN get assigned for a Euro delivery?

for ED the cars generally don't start production until within a 30 day window of your ed date. They don't want a bunch of built cars sitting around waiting.

[Arizona_Steve]

My CA pretty much backed up what SpacE82 said - that the car has to be delivered before April 1st to get the two free payments.

[singular]

Got mine with the 2 free payments.

I'm planning on paying off early, so it's saving me over $1000 that I didn't expect.

What a sweet deal! Money for nothing!