[bemison]

Midwest gets 2.9% financing through the end of March. Individual dealers have the option of buying down the rate -- ordered mine at 1.9%. Also, my dealer indicated that you don't even need exceptional credit -- anyone who qualifies for credit qualifies at the promotional rate.

Have even heard that some individual dealers have bought the rate all the way down to 0% -- good luck finding one!!
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[Mystic330]

Not sure I understand "buying down the rate"?

Is that as in paying more points up front? What incentave does the dealer have in buying down the rate? They would make less profit on the car overall.
Can we as buyers "buy down the rate" from BMWFS?

[bennett64]

Are we certain dealers in other areas, like the Northeast, don't have access to those rates?

[kickpoint]

Has anyone received the 2.9% or better rate in Maryland specifically? I'm going to argue that residents in PA are receiving it, but I'm sure I'll get shot down.

[Imola.ZHP]

It's all very simple...

If BMWFS approves you for 1.9% financing, the dealer doesnt have to offer this rate to you. If the Dealer can get you to agree to 2.9% or higher, they get the extra $$ you spend on financing...

This is yet another way for the dealership to make more money in these times of "invoice" pricing. However, in my research, it seems "invoice pricing" doesnt really happen with BMW's...

Trust me, all dealerships work this way, best thing to do is to shop dealers for financing rates before falling in love with a particular car on the lot or ordering...

My ex-fiance went to purchase her new Honda Civic. American Honda showed 2.9% for 60 months on their website. When she filled out the app. they tried to get her to agree to 4.9%. She kindly asked why she was not approved for the 4.9%. The salesman went back to the F&I office for a few minutes and returned with the 2.9% financing details on her car...

My first post BTW, doing my research...

[peter07043]

So I m picking up my car in a few days. I was approved for financing from BMWFS, but got a better rate with my credit union. If told my dealer I was in Chicago over the weekend, and was offered 1.9% financing and asked WTF? -- might I be able to get that rate in New Jersey?

[bennett64]

Originally Posted by peter07043

If told my dealer I was in Chicago over the weekend, and was offered 1.9% financing and asked WTF? -- might I be able to get that rate in New Jersey?

From what I've been reading, it seems like a midwest deal only. So I guess one could have ordered from a midwest dealer, then had it delivered to your local dealer for $500. Would seem worth it, though too late for me. I'm hoping April (when I expect delivery) will bring that rate to the NE, but doubt it.

[pschnei3]

My dealer told me that I needed a credit score of 720 or better to get the 1.9. Im currently got the 2.9 I was wondering is he just trying to keep me at that 2.9 or is the credit score thing true?

[no_exit]

Originally Posted by Paul Douglas Schneider

My dealer told me that I needed a credit score of 720 or better to get the 1.9. Im currently got the 2.9 I was wondering is he just trying to keep me at that 2.9 or is the credit score thing true?

One way to attempt to get an honest answer is to get your credit score from one (or all) of the online credit bureaus. Then you can see exactly what your score is. If it's above 720, take your scores to your dealer and ask him why you did not get the 1.9%.

[bemison]

BMW is doing a special promotion in the mid-west with 2.9% BMWNA financing. It was originally only supposed to be for the month of february, but they extended through March. When I was pricing different dealers, they told me that individual dealers had the option of buying down the rate. I ordered mine in late Feb. at 1.9% for 60 months. Picking up this week.

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