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BMW 5-Series (G30) Forum G30 Pricing, Ordering, Tracking, European Delivery APR Rebate

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      04-15-2019, 04:54 PM   #1
BimmerBoy76
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APR Rebate

Newbie question. Forgive me if it’s been asked/answered before.
My dealer is saying to get the $3500 Rebate for the 540i, I need to use BMWFS. Ok. Sounds correct. My question is how long do I have to wait to refinance. I was told 4 billing cycles. Is that correct?
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      04-15-2019, 07:20 PM   #2
Mittalfdk
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Originally Posted by musicworld View Post
Newbie question. Forgive me if it's been asked/answered before.
My dealer is saying to get the $3500 Rebate for the 540i, I need to use BMWFS. Ok. Sounds correct. My question is how long do I have to wait to refinance. I was told 4 billing cycles. Is that correct?
I wanted to pay all cash and I was told that there is no penalty if I pay it all after 3 months. So this sounds about right.
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      04-16-2019, 07:21 AM   #3
NCMMichael
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Originally Posted by Mittalfdk View Post
Quote:
Originally Posted by musicworld View Post
Newbie question. Forgive me if it's been asked/answered before.
My dealer is saying to get the $3500 Rebate for the 540i, I need to use BMWFS. Ok. Sounds correct. My question is how long do I have to wait to refinance. I was told 4 billing cycles. Is that correct?
I wanted to pay all cash and I was told that there is no penalty if I pay it all after 3 months. So this sounds about right.
In the past with Audi I was told they could not enforce a penalty. The dealership wants you to wait so they do not get penalized but unless there are terms in your contract stating an early pay off penalty I think you can do what you want.
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      04-16-2019, 07:37 AM   #4
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Originally Posted by NCMMichael View Post
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Originally Posted by Mittalfdk View Post
Quote:
Originally Posted by musicworld View Post
Newbie question. Forgive me if it's been asked/answered before.
My dealer is saying to get the $3500 Rebate for the 540i, I need to use BMWFS. Ok. Sounds correct. My question is how long do I have to wait to refinance. I was told 4 billing cycles. Is that correct?
I wanted to pay all cash and I was told that there is no penalty if I pay it all after 3 months. So this sounds about right.
In the past with Audi I was told they could not enforce a penalty. The dealership wants you to wait so they do not get penalized but unless there are terms in your contract stating an early pay off penalty I think you can do what you want.
Thank you! I'll definitely look into it!
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      04-16-2019, 07:47 AM   #5
BimmerBoy76
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Originally Posted by NCMMichael View Post
In the past with Audi I was told they could not enforce a penalty. The dealership wants you to wait so they do not get penalized but unless there are terms in your contract stating an early pay off penalty I think you can do what you want.
Thanks for feedback!! I'm hoping to order this week or next. Now, if I could just get Experian to remove this dang freeze. SMH!!
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      04-16-2019, 07:56 AM   #6
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$3.5k is pretty good, I only got $2k, there are no prepayment penalty, though more of a gentleman agreement between you and dealer, which I'm ok, since I still have to deal with them, and interest for 3 month is whatever don't really care.
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      04-16-2019, 08:46 AM   #7
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Originally Posted by clee1982 View Post
$3.5k is pretty good, I only got $2k, there are no prepayment penalty, though more of a gentleman agreement between you and dealer, which I'm ok, since I still have to deal with them, and interest for 3 month is whatever don't really care.
Thank you for this information. Is there a minimum amount the dealership wants you to finance?
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      04-16-2019, 08:53 AM   #8
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Originally Posted by clee1982 View Post
$3.5k is pretty good, I only got $2k, there are no prepayment penalty, though more of a gentleman agreement between you and dealer, which I'm ok, since I still have to deal with them, and interest for 3 month is whatever don't really care.
Thank you for this information. Is there a minimum amount the dealership wants you to finance?
I agree on the "gentlemen" comment. The dealership can sell it at the lower price because BMWFS gives them a rebate. If you pay it off before the "requested" period they do not get to keep the rebate and basically make less or lose on the car. In my case I waited until the period was over and refinanced at a better rate. Win win for all. 3 months of interest or 3 months of a higher rate is likely worth the discount and helps the dealership out. Tough business theses days.
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      04-16-2019, 08:57 AM   #9
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Originally Posted by Mittalfdk View Post
Thank you for this information. Is there a minimum amount the dealership wants you to finance?
I remember it was just under $7.6k
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      04-16-2019, 09:37 AM   #10
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I remember it was just under $7.6k
Thank you!
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