CS incoming.. finance Q

aj_g80 · 03-18-2022, 11:52 AM

My CS is due to be here in a week, i spoke to dealer regarding finances. He said the CS is in it's own tier (as in, it does no qualify for 2.99 for 60 months as typical m5 listed on BMWFS website) is that accurate?

He is also stating that the car does not qualify for rebates (such as 750 loyalty) true as well? kinda wierd to me.

told me interest is 6%..

micvite · 03-18-2022, 12:04 PM

Quote:

Originally Posted by aj_g80

My CS is due to be here in a week, i spoke to dealer regarding finances. He said the CS is in it's own tier (as in, it does no qualify for 2.99 for 60 months as typical m5 listed on BMWFS website) is that accurate?

He is also stating that the car does not qualify for rebates (such as 750 loyalty) true as well? kinda wierd to me.

told me interest is 6%..

Uhhh I never heard interest being 6 lol you should be able to get the same interest on the regular m5 as the cs sounds like they're just trying to get some extra money from you

aj_g80 · 03-18-2022, 12:43 PM

same... can anyone else confirm??

F12M6MD · 03-18-2022, 03:31 PM

Correct. No loyalty. No incentives. No subsidized rates. You'll get a BMWFS base rate of perhaps 3.9 but the dealer will add points (especially in this market and on this car).

AHall · 03-18-2022, 04:47 PM

Quote:

Originally Posted by F12M6MD

Correct. No loyalty. No incentives. No subsidized rates. You'll get a BMWFS base rate of perhaps 3.9 but the dealer will add points (especially in this market and on this car).

That is crazy. Hello do not understand why they are not offering the same rate offered for every other M car which is 2.99. I got 0.9 on M5C back in March 2021.

aj_g80 · 03-18-2022, 04:49 PM

does anyone know what bmw select rates are because he's saying the select rates are the same as traditonal finance

AHall · 03-18-2022, 06:04 PM

Quote:

Originally Posted by aj_g80

does anyone know what bmw select rates are because he's saying the select rates are the same as traditonal finance

Did you check with your bank? They may have a better rate. They are offering 2.99 on all other cars. It does not seem reasonable to charge you twice that rate.

Neptune7 · 03-18-2022, 07:01 PM

Did you check credit unions?

micvite · 03-18-2022, 08:18 PM

Quote:

Originally Posted by Neptune7

Did you check credit unions?

depending what hes trying to finance most banks and CU stop at 100k or 125k max... if hes going for 0 down he has to go wtih bmw

Doctor_X · 03-18-2022, 11:10 PM

I got 2.79 after telling them I was going to secure my own financing. They originally told me similar things as you though. I put $80k down.

Neptune7 · 03-19-2022, 01:46 AM

Quote:

Originally Posted by micvite

Quote:

Originally Posted by Neptune7

Did you check credit unions?

depending what hes trying to finance most banks and CU stop at 100k or 125k max... if hes going for 0 down he has to go wtih bmw

It's worth asking. My CU capped at 150k and I was able to get a good rate.

aj_g80 · 03-19-2022, 08:53 AM

Quote:

Originally Posted by Doctor_X

I got 2.79 after telling them I was going to secure my own financing. They originally told me similar things as you though. I put $80k down.

This is all i needed to see. If your dealer can do this, all of them can. Dissapointing to see the dealer do this.

I will check credit union. They are also charging 3900 for tire and wheel which is absurd. I had tire and wheel on old m5, it was around 3.

micvite · 03-19-2022, 12:18 PM

Quote:

Originally Posted by aj_g80

This is all i needed to see. If your dealer can do this, all of them can. Dissapointing to see the dealer do this.

I will check credit union. They are also charging 3900 for tire and wheel which is absurd. I had tire and wheel on old m5, it was around 3.

You can get tire and wheel at any dealership, I can ask and see what mine is charging if you want. But yeah just threaten to go elsewhere and get the package and say you'll get your own financing and they'll fix you up unless your credit doesn't qualify for it (not sure your exact parameters lol)

aj_g80 · 03-19-2022, 02:53 PM

Quote:

Originally Posted by micvite

You can get tire and wheel at any dealership, I can ask and see what mine is charging if you want. But yeah just threaten to go elsewhere and get the package and say you'll get your own financing and they'll fix you up unless your credit doesn't qualify for it (not sure your exact parameters lol)

I didnt know you can buy T&W elsewhere.. please do.i appreciate it. I just texted another dealer about it also. I already told them to hold paperwork while i look for financing, they said ok. So looks like they arent backing down.

They are marking up by 1 point.

My question is, he is saying select is the same rate... that csnt be true.

aj_g80 · 03-19-2022, 05:19 PM

Quote:

Originally Posted by micvite

You can get tire and wheel at any dealership, I can ask and see what mine is charging if you want. But yeah just threaten to go elsewhere and get the package and say you'll get your own financing and they'll fix you up unless your credit doesn't qualify for it (not sure your exact parameters lol)

Also in regards to credit, i didnt have any issues getting approved. I submit the info, got thru they didnt ask for anything further. Credit is high. So not sure what the markup is about.

micvite · 03-19-2022, 10:41 PM

Quote:

Originally Posted by aj_g80

Also in regards to credit, i didnt have any issues getting approved. I submit the info, got thru they didnt ask for anything further. Credit is high. So not sure what the markup is about.

I just need last 7 of the vin to ask my dealer about the wheel and tire if you can dm me

TexasSurgeon · 03-20-2022, 09:59 AM

Quote:

Originally Posted by micvite

Quote:

Originally Posted by aj_g80

Also in regards to credit, i didnt have any issues getting approved. I submit the info, got thru they didnt ask for anything further. Credit is high. So not sure what the markup is about.

I just need last 7 of the vin to ask my dealer about the wheel and tire if you can dm me

Hi I financed mine via BMWFS

There is no loyalty

And no special finance rates for CS.

But I got mine at MSRP. Dealer I got it from has a policy of no markup over msrp for any car anytime.

I would be happy you are getting a CS in this market at msrp and not complain about much else…. Just my 2 cents.

malrash · 03-20-2022, 04:01 PM

Check out Penfed.
As low as 1.79 for 36 months
OR 1.99 for 60 months

aj_g80 · 03-20-2022, 05:45 PM

Quote:

Originally Posted by malrash

Check out Penfed.
As low as 1.79 for 36 months
OR 1.99 for 60 months

Ive heard alot about penfed. Anyone can join?

spuntyb · 03-20-2022, 06:32 PM

Quote:

Originally Posted by aj_g80

Quote:

Originally Posted by malrash

Check out Penfed.
As low as 1.79 for 36 months
OR 1.99 for 60 months

Ive heard alot about penfed. Anyone can join?

Yes. It started out for federal employees, but anyone can join now. Good rates all around, particularly for auto. If my CU doesn't beat them out when I buy out this lease later this year, I plan to use them.

micvite · 03-20-2022, 07:08 PM

Quote:

Originally Posted by aj_g80

Ive heard alot about penfed. Anyone can join?

they top out at 100k I believe.

malrash · 03-20-2022, 08:08 PM

They will top out at 150k
Yes, anyone can join
G’luck

03-18-2022, 11:52 AM	#1
aj_g80 Captain 551 Rep 638 Posts Drives: 720s Join Date: Sep 2021 Location: south florida iTrader: (0)	CS incoming.. finance Q My CS is due to be here in a week, i spoke to dealer regarding finances. He said the CS is in it's own tier (as in, it does no qualify for 2.99 for 60 months as typical m5 listed on BMWFS website) is that accurate? He is also stating that the car does not qualify for rebates (such as 750 loyalty) true as well? kinda wierd to me. told me interest is 6%..
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03-18-2022, 12:43 PM	#3
aj_g80 Captain 551 Rep 638 Posts Drives: 720s Join Date: Sep 2021 Location: south florida iTrader: (0)	same... can anyone else confirm??
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03-18-2022, 03:31 PM	#4
F12M6MD Lieutenant 326 Rep 498 Posts Drives: Rivian R1T Join Date: Dec 2012 Location: TX iTrader: (0)	Correct. No loyalty. No incentives. No subsidized rates. You'll get a BMWFS base rate of perhaps 3.9 but the dealer will add points (especially in this market and on this car). __________________ Rivian R1T
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03-18-2022, 04:49 PM	#6
aj_g80 Captain 551 Rep 638 Posts Drives: 720s Join Date: Sep 2021 Location: south florida iTrader: (0)	does anyone know what bmw select rates are because he's saying the select rates are the same as traditonal finance
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03-18-2022, 07:01 PM	#8
Neptune7 Major 1433 Rep 1,361 Posts Drives: M5 CS Join Date: May 2018 Location: N/A iTrader: (0)	Did you check credit unions?
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03-18-2022, 11:10 PM	#10
Doctor_X Banned 1158 Rep 545 Posts Drives: 2015 M5 CP - 2022 M5 CS Join Date: Sep 2016 Location: Phoenix iTrader: (1) Garage List 2015 BMW M5 CP [0.00] 2022 BMW M5 CS [0.00]	I got 2.79 after telling them I was going to secure my own financing. They originally told me similar things as you though. I put $80k down.
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03-20-2022, 04:01 PM	#18
malrash Lieutenant 185 Rep 599 Posts Drives: '22 M5 CS Join Date: Dec 2013 Location: Granger, IN iTrader: (1)	Check out Penfed. As low as 1.79 for 36 months OR 1.99 for 60 months
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03-20-2022, 08:08 PM	#22
malrash Lieutenant 185 Rep 599 Posts Drives: '22 M5 CS Join Date: Dec 2013 Location: Granger, IN iTrader: (1)	They will top out at 150k Yes, anyone can join G’luck
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