[neology]

Well, am looking towards buying this 2007 e90 328i CPO and am at a loss figuring out some specifics. I searched the forums, but couldn't find satisfactory answers to these questions:

1. If i decide to use third party financing, can i still avail the 2 yrs 0 cost maintenance program? Going by the brochure, it doesn't look like it, but i'd like to confirm

2. I'd rather stick to my local bank for an auto loan than have my credit score etched and rejected by BMWFS. If i use third party financing, do i still get get the CPO limited warranty?

3. If am forced through the route of BMWFS, what are the chances of being tossed overboard? Is there any incentive for recent graduates? ( I recently graduated from school, am currently on a H1 visa, make a decent 80 grand a year and am debt free for as long as i know )

Would appreciate any suggestions/comments in this matter Cheers!

[der_kommissar]

Let me see...


1. You cannot get the maintenance program if you use 3rd party financing. You also cannot get the low interest rate from BMW if you get the maintenance program. You'll have to go through BMW, but you'll get a higher rate than .9%.

2. Type of financing does not affect CPO status.

3. No idea on number #3. I don't think they're any worse than a normal bank or other lender. Sounds like you know your credit score is low, so its just a risk you would have to take.

[Hollywood Hogan]

Originally Posted by der_kommissar

Let me see...


1. You cannot get the maintenance program if you use 3rd party financing. You also cannot get the low interest rate from BMW if you get the maintenance program. You'll have to go through BMW, but you'll get a higher rate than .9%.

I believe this is incorrect...you have choice of either 24month financing at 0.9% (2.9% up to 60months) OR free maintenance for an extra 2yr 50k...it one or the other

So if you decide to go through your local bank for financing then you can get the free maintenance...

If you want to go through BMW financial and get the low rates (0.9 or 2.9) then you cannot get the free maintenance

Depending on how much you are going to loan I'd say the free maintenance seems like a better deal. Patelco Credit Union is offer 3.75% financing and unless you can do the 24 month financing at BMW you are looking at 2.9% so it really its THAT much of a difference. A few hundred dollars depending on how much you put down. I would definitely rather have the free maintenance than the few hundred bucks. Especially if you are going to pay the car off sooner than 60 months.

[der_kommissar]

Well, when I bought mine two months ago, they said that you had to finance with BMW to get the maintenance plan. Since you can't get both low rate and plan...I think that means you have to accept a higher rate to get the plan. I was going to pay cash for the car, but if I did, then I could not get the plan.

[Hollywood Hogan]

Originally Posted by der_kommissar

Well, when I bought mine two months ago, they said that you had to finance with BMW to get the maintenance plan. Since you can't get both low rate and plan...I think that means you have to accept a higher rate to get the plan. I was going to pay cash for the car, but if I did, then I could not get the plan.

Sounds like a sales tactic...when I was negotiating for an E93 a few weeks back the dealer said I could get my own financing and get the maintenance plan

[Frzdrdhppy]

Straight from the BMW site:

These offers are valid only for qualified customers who finance a Certified Pre-Owned BMW through BMW Financial Services and a participating BMW Center. Not all BMW Centers participate. To qualify, you must enter into a retail installment sale contract between April 1, 2010 and June 1, 2010 at a participating BMW Center. The free maintenance offer is valid for up to 6 years or 100,000 miles from the original in-service date, whichever comes first, on '07 MY 3, 5 and 7 Series CPO models using standard BMW Financial Services rates. Only certain contract lengths are eligible. Contact your local BMW Center for participation details and vehicle availability. Financing starting at 0.9% APR is available on Certifi ed Pre-Owned 2007 and 2008 model year 3, 5, 6, 7, X3, X5 or Z4's (M models excluded). Financing starting at 4.9% APR is available on Certified Pre-Owned 2007 and 2008 M models. Protection Plan, backed by BMW, provides coverage for 2 years or 50,000 miles (whichever comes first) from the date of the expiration of the 4-year/50,000-mile BMW New Vehicle Limited Warranty. For more information, call 1-800-334-4BMW. ©2010 BMW of North America, LLC. The BMW name, model names and logo are registered trademarks.

[Hollywood Hogan]

^^ guess I was wrong ...that really blows I was planning to get through my CU and get the free maintenance...

[bavarianboar]

BMWFS wins, can reject apps for people with HIGH credit scores but not enough history (what is good, 10 years?). No matter how much they earn. We live in corporate America where the borrower who lives in DEBT is MORE powerful than the guy with money in the BANK but is not willing to use his CASH.

Go without them (BMWFS) and you lose a lot, lets see what they are going to do with the numerous lease returns which they will accumulate in the next 2 years when the F30 comes, they are going to rust and rot in the parking lots, unless they loosen up further on the CPO program which is not as attractive as it appears at first. 6 years FTW.