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      03-15-2019, 11:18 PM   #23
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0.8% here. 800+ Credit. BMW Finance Select.
I am new to this.

Is there any difference between BMW Finance Select and BMW Finance?
Yes - The finance select plan is like a lease in some ways in that you pay off a % of the car over a 3 or 4 year period with a balloon payment due at the end. It's not like lease in that you can't turn the car back into BMW, so you're on the hook for the remaining balance. The idea is, if you can pay it off in full or mostly full at the end, this might make sense, otherwise a traditional finance or lease is much more sound practically.
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      03-16-2019, 02:20 PM   #24
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Originally Posted by saikitjK View Post
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Originally Posted by jessetaylor1 View Post
0.8% here. 800+ Credit. BMW Finance Select.
I am new to this.

Is there any difference between BMW Finance Select and BMW Finance?
Yes - The finance select plan is like a lease in some ways in that you pay off a % of the car over a 3 or 4 year period with a balloon payment due at the end. It's not like lease in that you can't turn the car back into BMW, so you're on the hook for the remaining balance. The idea is, if you can pay it off in full or mostly full at the end, this might make sense, otherwise a traditional finance or lease is much more sound practically.
Thank you!
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      03-16-2019, 11:07 PM   #25
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I never heard of this, my dealer finance manager just kept these options up her ass

They just like inflating the 60 month rate to 5.5%
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      03-17-2019, 11:57 AM   #26
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Quote:
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Originally Posted by saikitjK View Post
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Originally Posted by jessetaylor1 View Post
0.8% here. 800+ Credit. BMW Finance Select.
I am new to this.

Is there any difference between BMW Finance Select and BMW Finance?
Yes - The finance select plan is like a lease in some ways in that you pay off a % of the car over a 3 or 4 year period with a balloon payment due at the end. It's not like lease in that you can't turn the car back into BMW, so you're on the hook for the remaining balance. The idea is, if you can pay it off in full or mostly full at the end, this might make sense, otherwise a traditional finance or lease is much more sound practically.
Does the BMW Select regional?
My dealer told me it makes sense in different states and they never do it in WA.
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      03-17-2019, 12:55 PM   #27
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No idea, as I never really considered it.
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      03-18-2019, 12:48 PM   #28
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Select plan carries more risk than lease.
if you crash the car, that car is yours, for lease turn the car in after 3 years and walk away. For the same reason, make sure you have gap insurance on Select as well, don't assume.

At the end need to run the number and your history of driving record
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      03-18-2019, 01:04 PM   #29
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BMW select is designed for people who want a monthly payment similar to a lease but tend to drive over the lease miles.

The bmw select has a similar monthly payment to a 84 month finance but most banks won't do 84 months so its another way of getting a low monthly payment if you want to finance.

Leasing still gives you the most protection then financing or bmw select.
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      03-18-2019, 02:06 PM   #30
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I have a credit score 800+, how did you get that?
Not sure to be honest. I'm cool with a few guys working there, but I don't think that had anything to do with it.
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      04-16-2019, 08:40 AM   #31
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Yeah, I think the website will be updated soon to include 2020 model cars. I'm good with 3.99 also.
So that 2.99 is for older MYs?
I got 3.99 and was told it could go down if lower rate has been promoted
Just check the site recently and looks like 2020 cars are eligible for the 2.99%.
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      04-16-2019, 05:52 PM   #32
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Do you know if that region is based on dealer zip code or home zip code?
This is region based on the dealer. I just ordered a car from California where their rate is 4.55.

East Coast where I'm located is 2.9% but the Cali dealer is not budging to match this (region locked being their reason).

Even with a credit score of 818, when I applied online, BMWFS still only offered 4.55% because my dealer is located in CA.

Total bummer
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      04-16-2019, 08:43 PM   #33
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Do you know if that region is based on dealer zip code or home zip code?
This is region based on the dealer. I just ordered a car from California where their rate is 4.55.

East Coast where I'm located is 2.9% but the Cali dealer is not budging to match this (region locked being their reason).

Even with a credit score of 818, when I applied online, BMWFS still only offered 4.55% because my dealer is located in CA.

Total bummer
They can absolutely work on that, they're hiding behind the "region" thing as a means to charge the higher APR.
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      04-16-2019, 10:43 PM   #34
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They can absolutely work on that, they're hiding behind the "region" thing as a means to charge the higher APR.
I figured this as well, that it's all negotiable. Doesn't make sense to let a buyer do outside financing when finance dept. should try and squeeze more money it can out of a purchaser.

I don't know why he isn't budging on it, could be because I'm taking an allocation for a MY20 that he could've made more profit on with someone else, maybe because he is "doing me a solid" by getting me it at a much better price than what I would get locally...I'm just grasping at straws to help ease my mind of why his finance dept. won't budge.

I didn't want to pester him a 3rd time about APR matching so I just gave up and will most likely go with BoA. I'm wondering if I should just go behind his back and call the finance dept. and deal with them directly. /sigh
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      04-17-2019, 01:12 AM   #35
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They can absolutely work on that, they're hiding behind the "region" thing as a means to charge the higher APR.
I figured this as well, that it's all negotiable. Doesn't make sense to let a buyer do outside financing when finance dept. should try and squeeze more money it can out of a purchaser.

I don't know why he isn't budging on it, could be because I'm taking an allocation for a MY20 that he could've made more profit on with someone else, maybe because he is "doing me a solid" by getting me it at a much better price than what I would get locally...I'm just grasping at straws to help ease my mind of why his finance dept. won't budge.

I didn't want to pester him a 3rd time about APR matching so I just gave up and will most likely go with BoA. I'm wondering if I should just go behind his back and call the finance dept. and deal with them directly. /sigh
I'm also in BMWs "super elite" tier for credit rating (800+) and I had my guy agree to 2.99% at a time when my region was at 4.55%. It's now 2.99% locally anyway so it doesn't matter but that's how I know they can change the APR through BMW Financial.

Ultimately it's a difference of like $15-20/month so nothing I'd break a deal over considering how hard these cars are to get (as opposed to any other model you can just stumble into a dealership for, and see multiple examples readily available for sale).

Are you paying MSRP? If you say you're getting a better deal than what you could locally than it still sounds like a win or a wash at worst.
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      04-17-2019, 01:50 AM   #36
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does loyalty and fleet discount apply to financing or just leasing? thx
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      04-17-2019, 02:56 AM   #37
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I'm also in BMWs "super elite" tier for credit rating (800+) and I had my guy agree to 2.99% at a time when my region was at 4.55%. It's now 2.99% locally anyway so it doesn't matter but that's how I know they can change the APR through BMW Financial.

Ultimately it's a difference of like $15-20/month so nothing I'd break a deal over considering how hard these cars are to get (as opposed to any other model you can just stumble into a dealership for, and see multiple examples readily available for sale).

Are you paying MSRP? If you say you're getting a better deal than what you could locally than it still sounds like a win or a wash at worst.
The deal is definitely a win regardless.
But yeah, the difference in payment isn't something to hem and haw about.
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      04-18-2019, 11:19 PM   #38
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Quote:
Originally Posted by brocurls View Post
Quote:
Originally Posted by cpxchewy View Post
Do you know if that region is based on dealer zip code or home zip code?
This is region based on the dealer. I just ordered a car from California where their rate is 4.55.

East Coast where I'm located is 2.9% but the Cali dealer is not budging to match this (region locked being their reason).

Even with a credit score of 818, when I applied online, BMWFS still only offered 4.55% because my dealer is located in CA.

Total bummer
Same here, almost identical

But try MA to CT home to Dealer is 60/70 miles but they will not match
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      04-23-2019, 10:12 PM   #39
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I input my zip code into the BMW USA site for their deals, and shows the 2.99% promotional APR for 2020 (and 2019) M2C's, and I'm located in Northern California. I don't see why or how a dealer would blatantly mark it up. Seems like BS.
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      04-24-2019, 03:47 PM   #40
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I signed the papers yesterday on a 2020 M2C that I'll be getting through ED in two weeks. They first tried 5% so I asked for an explanation for why I didn't qualify for 2.99%. The story I got was they use a printed rate sheet and it hadn't been updated. I'm not sure I believe that excuse but I did in fact get the 2.99% with no resistance from their finance manager.
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      04-24-2019, 03:52 PM   #41
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I signed the papers yesterday on a 2020 M2C that I'll be getting through ED in two weeks. They first tried 5% so I asked for an explanation for why I didn't qualify for 2.99%. The story I got was they use a printed rate sheet and it hadn't been updated. I'm not sure I believe that excuse but I did in fact get the 2.99% with no resistance from their finance manager.
They tried to pull a fast one on you, dirty.
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      04-24-2019, 04:53 PM   #42
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I assume the dealer can bloat the APR just like they could with the MF and pocket the profit?

Dealers are hoping buyers are coming in stupid AF with no access to the internet.
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      04-24-2019, 05:02 PM   #43
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Well now I'll know to check the finance person for the right rate!

Has anyone seen the higher residuals on the 2020 M2C's???
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      04-24-2019, 08:13 PM   #44
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I assume the dealer can bloat the APR just like they could with the MF and pocket the profit?

Dealers are hoping buyers are coming in stupid AF with no access to the internet.
MF?
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