[Mike i4 M50]

Just an FYI, I called BMW FS to inquire about the 1.9% financing on BMW Select after my dealer presented me with 1.9% for traditional financing but 3.9% for the Select option. For those of us who pre-ordered before Jan 1, the 1.9% rate is available for both TRADITIONAL FINANCING up to 60 months as well as for the BMW SELECT option (balloon payment) up to 60 months.

As long as you have a 740+ credit score, pre-ordered, and the Select option is available in your state (it is available here in Virginia, but not in every state), then you are eligible for this low rate across the spectrum (excluding lease option).

I wanted to lease my M50, but BMW leases seem to be crap right now. So, it may be advantageous to buy versus lease, making the payment lower and keeping the opportunity alive to claim the federal tax credit.

PERSISTENCE IS KEY - Keep nudging the dealer to give you the 1.9% rate if you pre-ordered and have good credit!!

[chadkoepf]

My dealer said if the advertised rate was 1.9, they were allowed to adjust that 1% so it was 2.9%. I argued up and down, but they refused. basically said if you get 1.9 the dealer is screwing you somewhere else.

I got 2.25 from my credit union.

[gs6456]

Originally Posted by chadkoepf

My dealer said if the advertised rate was 1.9, they were allowed to adjust that 1% so it was 2.9%. I argued up and down, but they refused. basically said if you get 1.9 the dealer is screwing you somewhere else.

I got 2.25 from my credit union.

The 1.9% is definitely there for pre-orders. I told my dealer and they had to make some phone calls, but they were on my side and made it happen. It doesn't sound like your dealer was on your side.

[jayp98]

You have any flyer or listing that shows the 1.9% rate? I preordered in December and it was taking over an order so want to know how I can qualify for the taste.

[mbchris]

BMW Select Financing isn’t available for those in IL, NC, ND, NH, NV, PA, TX, or WV

https://www.bmwofontario.com/finance...X%2C%20or%20WV.

Seems like the best of both worlds - turn in option, and get the $7500 Tax Rebate

[Haywood]

I called BMW and they said that the 1.9% is not applicable anymore and the dealership will have to call back to try and get the rate. It's ridiculous that they can't negotiate with me, but the dealership needs to call to get approved?

[techwhiz1]

Originally Posted by Haywood

I called BMW and they said that the 1.9% is not applicable anymore and the dealership will have to call back to try and get the rate. It's ridiculous that they can't negotiate with me, but the dealership needs to call to get approved?

Your dealer only needs to contact BMWFS and confirm with your pre-order/production number.

The dealer may try to mark up the rate. But it was a promotion and BMW will have the AG of most states pissed off if they do not offer the rate.

My dealer had no issue in March pulling the rate and giving me finance options at 1.9%. I even have a term sheet. The CA sente a link that went to a customized app from BMWFS. Approval took 5 minutes.

[nuwde]

I live in Texas where the BMW Owner's Choice (balloon option) is available. I don't really care for it and am fine with traditional financing. I pre-ordered in 2021, but I never heard of the 1.9% financing. My advisor says their best rate is 2.9%.

Does it sound like I'd be eligible for 1.9% even though he didn't mention it?

[pharding]

Dealers have the option of marking up finance rates and lease rates. This is best addressed when ordering the car. The best strategy that has worked for me on 9 BMW FS purchases or leases is to put language into the order that not only identifies what you are buying or leasing and the price, but also negotiate for this language. "Lease or finance rate is at the BMW Buy Rate." This means that the rate that you will be paying is the same rate that the dealer gets from BMW without mark-up by the dealership. Your argument in negotiations is that the dealer makes profit on the car above its invoice price and the dealer receives kickbacks from BMW NA that are concealed from the consumer. That is sufficient profit and the lease / financing shouldn't be an additional high profit center.

It is all about knowledge, homework, and negotiation skills to get the best deal on a BMW. Plus it's about relationships. If you purchased X number of BMWs and got your cars serviced there, that helps in negotiations.

The other thing is that dealer can tell you nonsensical bullshit. When you sign the lease or finance agreement it says "terms are outlined in this agreement anything outside of this is not applicable".

[Ultbruin]

Originally Posted by nuwde

I live in Texas where the BMW Owner's Choice (balloon option) is available. I don't really care for it and am fine with traditional financing. I pre-ordered in 2021, but I never heard of the 1.9% financing. My advisor says their best rate is 2.9%.

Does it sound like I'd be eligible for 1.9% even though he didn't mention it?

That is you getting the 1.9% as they are allowed to add 1%. No new bmwfs rates are below 4% right now, or even maybe 5%?