BMW extended 0.9% for one more day till Jun 2. What gives?

Digtlartst · 06-02-2009, 08:40 PM

You're a BMWCCA member, right? Don't forget their $500 cash rebate -- that rebate more than covers the entire finance charge on the 48 mo .9% loan on my CPO!

meegle · 06-02-2009, 09:07 PM

Quote:

Originally Posted by Digtlartst

You're a BMWCCA member, right? Don't forget their $500 cash rebate -- that rebate more than covers the entire finance charge on the 48 mo .9% loan on my CPO!

0.9% financing on a used car is unheard of these days

In order for your total finance charges to have been less than $500, you must have gotten an incredible deal on your CPO...I would venture to guess your loan payment was under 23k

nukezero · 06-02-2009, 10:04 PM

haha! i knew it, i called it too! i knew that they would jack up the financing. Ladies and Gentlemen, the recession is easing and May 2009 car sales in America have improved compared to every month previous since December 2008. Ford did pretty well surprisingly too in May.

The rate jack up is reasonable. However, i'm glad my dealer locked me in too at 0.9% cuz i sure as hell won't pay anything greater than 0.9%

VTECaddict · 06-02-2009, 10:08 PM

Dang, this probably means CPO rates will go up after 6/30 too...

Must find CPO 330i ASAP...

IlChengis · 06-02-2009, 11:48 PM

Quote:

Originally Posted by E90RWC

Yes [...]

Thanks for confirming. Man, it would be nice if they re-introduced the 1st two payments on us or some similar incentive so I could add it to my 0.9% rate... doubt it, but nice to think about it!

-Walter

E90RWC · 06-02-2009, 11:58 PM

^ Fo sho!

Now, when are we gonna hear about June incentives!

Waited all day and nothing.

Check out Bimmerfest.com the "Ask-a-Dealer" forum and they got all the info there.

They usually post a "Daily Driver" video every month and Philippe Kahn talks about BMWFS updates.

David1 · 06-03-2009, 02:59 PM

Quote:

Originally Posted by nukezero

haha! i knew it, i called it too! i knew that they would jack up the financing. Ladies and Gentlemen, the recession is easing and May 2009 car sales in America have improved compared to every month previous since December 2008. Ford did pretty well surprisingly too in May.

The rate jack up is reasonable. However, i'm glad my dealer locked me in too at 0.9% cuz i sure as hell won't pay anything greater than 0.9%

I am locked in at 0.9% also!

Skully · 06-03-2009, 04:28 PM

Quote:

Originally Posted by 808E90

Never finance a used car from BMW .... You'll get a better rate from a Credit Union bank (4.9 as to 7.9)

BMW has incentive rates on 06-07 CPO cars which may vary by region. I can get 3.9% up to 60 months on a 3 series.

Digtlartst · 06-03-2009, 09:31 PM

Quote:

Originally Posted by meegle

0.9% financing on a used car is unheard of these days

In order for your total finance charges to have been less than $500, you must have gotten an incredible deal on your CPO...I would venture to guess your loan payment was under 23k

$24k in March for a CPO E91xi with warranty and maintenance to 2012/100k mi, and 4 new tires. Financed $17k for 48 mo at .9% with no cash out of pocket because I'd sold my old E46. Total interest will be about $350 over 4 years. You're right, .9% is unheard of on a used car and is what got me into the dealer.

Digtlartst · 06-04-2009, 08:51 AM

BMW May sales figures are out. New car sales down 27.8% from May 2008. CPO sales up 8.3%. I expect that dealers make a lot more profit per unit on CPO sales.

darkcloud · 06-04-2009, 10:25 AM

Quote:

Originally Posted by Digtlartst

BMW May sales figures are out. New car sales down 27.8% from May 2008. CPO sales up 8.3%. I expect that dealers make a lot more profit per unit on CPO sales.

This confirms that they shouldn't be raising new car apr's at this time. Most everything should be at .9% to 1.9%, I understand ///M's being higher.

Their obviously just trying to make a few bucks since some people don't pay attention to the fluctuating apr's, not that 1% really makes a big difference anyways. It is only an extra $500 for a 50K car that will likely be spread over a 60/mo loan. Although they should still stick in the .9-1.9 range to assist in new car sales.

They should prance all over the apr board with the used CPO's as the cars on the lot are everchanging. The new cars are not which by upping the apr will only make people in the know like us wait till next months rates are released.

Digtlartst · 06-04-2009, 12:56 PM

I'm not an accountant, but 1% apr diff on a $50k loan isn't $500 spread over a 60 mo loan. It's around $1280, right?

Silvertige · 06-04-2009, 01:44 PM

Quote:

Originally Posted by Digtlartst

I'm not an accountant, but 1% apr diff on a $50k loan isn't $500 spread over a 60 mo loan. It's around $1280, right?

Yep... it's $1281.24 in interest.

06-02-2009, 08:40 PM	#23
Digtlartst Second Lieutenant 18 Rep 293 Posts Drives: 2004 E46 5MT Convertible Join Date: Apr 2009 Location: Inside The Beltway iTrader: (0) Garage List 2018 BMW X3 30i [10.00] 2004 BMW 325cic 5MT [0.00] 2016 BMW R1200RT [0.00]	You're a BMWCCA member, right? Don't forget their $500 cash rebate -- that rebate more than covers the entire finance charge on the 48 mo .9% loan on my CPO!
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06-02-2009, 10:04 PM	#25
nukezero Major 372 Rep 1,465 Posts Drives: BMW 3 series Join Date: Sep 2008 Location: Irvine iTrader: (8)	haha! i knew it, i called it too! i knew that they would jack up the financing. Ladies and Gentlemen, the recession is easing and May 2009 car sales in America have improved compared to every month previous since December 2008. Ford did pretty well surprisingly too in May. The rate jack up is reasonable. However, i'm glad my dealer locked me in too at 0.9% cuz i sure as hell won't pay anything greater than 0.9%
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06-02-2009, 10:08 PM	#26
VTECaddict Where'd my VTEC go? 488 Rep 6,068 Posts Drives: 06 330i 6MT Join Date: Mar 2009 Location: Seattle, WA iTrader: (4)	Dang, this probably means CPO rates will go up after 6/30 too... Must find CPO 330i ASAP... __________________ AW/Terra \| ZSP \| ZPP \| ZCW \| iDrive \| CA Mods: BC BR coilovers \| Blacklines \| M-tech rear \| dual exhaust \| M3 steering wheel \| BMW SSK \| ZHP shift knob \| High-kick CF spoiler \| NBT Retrofit M3 front control arms \| M3 rear guide rods \| Manzo rear toe and camber links \| Monroe rear shock mounts \| Varrstoen ES1 19x9.5+20 Front, 19x11+25 rear
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06-02-2009, 11:58 PM	#28
E90RWC What you know about the twins? 21 Rep 989 Posts Drives: bmw Join Date: Oct 2005 Location: CA iTrader: (1)	^ Fo sho! Now, when are we gonna hear about June incentives! Waited all day and nothing. Check out Bimmerfest.com the "Ask-a-Dealer" forum and they got all the info there. They usually post a "Daily Driver" video every month and Philippe Kahn talks about BMWFS updates.
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06-04-2009, 08:51 AM	#32
Digtlartst Second Lieutenant 18 Rep 293 Posts Drives: 2004 E46 5MT Convertible Join Date: Apr 2009 Location: Inside The Beltway iTrader: (0) Garage List 2018 BMW X3 30i [10.00] 2004 BMW 325cic 5MT [0.00] 2016 BMW R1200RT [0.00]	BMW May sales figures are out. New car sales down 27.8% from May 2008. CPO sales up 8.3%. I expect that dealers make a lot more profit per unit on CPO sales.
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06-04-2009, 12:56 PM	#34
Digtlartst Second Lieutenant 18 Rep 293 Posts Drives: 2004 E46 5MT Convertible Join Date: Apr 2009 Location: Inside The Beltway iTrader: (0) Garage List 2018 BMW X3 30i [10.00] 2004 BMW 325cic 5MT [0.00] 2016 BMW R1200RT [0.00]	I'm not an accountant, but 1% apr diff on a $50k loan isn't $500 spread over a 60 mo loan. It's around $1280, right?
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