12-10-2018, 07:39 PM | #1 |
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BMW College Grad program?
Hey, guys, could use your insights here.. I'm doing a deal with a new CA down in Socal that I thought was a new-school, transparent kind of guy. He was recommended by someone on the forum here. When we ordered the car, we had a good conversation about exactly what price he'd do (it's a good price), agreed on buy-rate MF, no hidden fees, etc.
Now that the car has arrived, things are a little murkier. He's sent me a "disclosure" deal sheet that has lots of numbers on it, but doesn't actually disclose much. I'm able to reverse-engineer the key inputs, to see where he's being shifty (residual 1% less than locked, a few extra fees here and there, a suddenly increased cap cost reduction, etc.), but there's one thing in particular I've noticed. The header of the doc (which is clearly from the dealership chain's own system, not a BMWNA/BMWFS system) includes the following: "Lender: BMW College Grad" There's no other reference to the BMW College Grad program in the doc (and he's never mentioned it), but I'm wondering if this CA is using it to get his price down. And if so, are there potential consequences for me (I'm 20 years out of college)? FYI I'm planning to use the CCA rebate as well, plus $2K loyalty. Anyone have experience with this program/how it's regulated/what implications it has on future BMWFS deals, etc.? Thanks! |
12-10-2018, 07:50 PM | #2 |
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Drives: 2019 M550i
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Location: Tampa Bay
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If a dealer is cool with shady operations you gotta wonder about whats going on elsewhere. If BMWNA investigates it will discover a fraudulent college claim with your signature on it. No way of knowing where it could lead, maybe legal repercussions.
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12-16-2018, 11:27 AM | #3 |
rjo9292
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Drives: 2019 M550I (G30)
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Location: New York, NY
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It becomes the dealers problem. It is up to them and BMW FS to verify the information. Although it is shady, you shouldn't have anything to worry about. being in the ar buisness, I've seen this done many many times.
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