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      11-19-2009, 01:36 AM   #1
fuzion23
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BMW Holiday Credit Question!!!

Hi everyone,
Do anyone know if I will be able to still get the Holiday credit of $2500 for my 2010 E92 if I order it on October 28, 2009 but my car won't arrive to the dealer until after January 4, 2010 when the promotion end? When i was talking to my dealer, it was the 3.9% financing at that point. I don't want to miss out on this Holiday credit. Anyone with info would be greatly appreciated.
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      11-19-2009, 09:20 AM   #2
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Ask your CA if you can reapply for new finance offer...if he says yes then you will be able to lock in that rate even if your car arrives after Jan 4th
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      11-19-2009, 12:45 PM   #3
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My CA informed me that we are good to hold the rate til I finance in Feb...and if there is a different promo then I can choose which to go with at that time. I heard that on the West coast they can lock a deal for 90 days, but only 30 on the East coast. I think it really boils down to your dealer...
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      11-19-2009, 06:46 PM   #4
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Quote:
Originally Posted by DVDA View Post
Ask your CA if you can reapply for new finance offer...if he says yes then you will be able to lock in that rate even if your car arrives after Jan 4th
Thanks for the info DVDA.

Quote:
Originally Posted by s.myrr View Post
My CA informed me that we are good to hold the rate til I finance in Feb...and if there is a different promo then I can choose which to go with at that time. I heard that on the West coast they can lock a deal for 90 days, but only 30 on the East coast. I think it really boils down to your dealer...
Cool.. Thanks... I should be ok then.
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      11-03-2010, 07:08 AM   #5
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What is a holiday credit anyway? I was planning on doing a $0 down lease on a 1 anyhow and now there is this holiday credit. Guessing that is a good thing but do not exactly know how it will be applied? Cash? Does it go to the bottom line and decrease my monthly payment? Anyone? My choice. Or do i have to buy parts with it?

Thanks.
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      11-03-2010, 08:36 AM   #6
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Quote:
Originally Posted by s.myrr View Post
My CA informed me that we are good to hold the rate til I finance in Feb...and if there is a different promo then I can choose which to go with at that time. I heard that on the West coast they can lock a deal for 90 days, but only 30 on the East coast. I think it really boils down to your dealer...
I don't think that is true about only West Coast being able to lock a deal for 90 days. I'm in the Northeast and I ordered my car in August - locked in at 1.9% for 60 mo. and was told I would get the best finance rate that came up between when my car was ordered and when it arrived at the dealership. Sept & Oct finance rate ended up being .9% for 60mo and that's what I got when I signed my papers mid October.
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      11-04-2010, 04:47 PM   #7
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Adding to this... If my car arrives in December, would I be eligible for the holiday credit even though I ordered the car in October??

TIA
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      11-04-2010, 05:19 PM   #8
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Answering my own question here... running the numbers myself, since they've upped the interest rate to 2.9% (for greater than 36 month loan) to get the $1,500 credit, the deal is not as good as the flat 0.9% I'm already getting. If the credit was $2,500 like last year, it would only be slightly better. Glad I didn't wait for the "Holiday Credit" to place my order... NEVERMIND!

Haha...
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      11-05-2010, 02:51 AM   #9
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Do I qualify? I ordered the car back in September. The dealer ran my credit score with BMW financial services and gave me an offer on the finance rate. But I haven't received my car yet and it scheduled to arrive later this month. So do I qualify for the holiday credit? I asked the dealer, and he said "I'll see what I can do when you pick up your car".
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      11-05-2010, 02:52 AM   #10
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Quote:
Originally Posted by PostModernHero View Post
Adding to this... If my car arrives in December, would I be eligible for the holiday credit even though I ordered the car in October??

TIA
Oops, didn't see this post above. But does anyone know the answer?
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      11-05-2010, 08:22 AM   #11
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There are tradeoffs with the Holiday Credit. You get the cap cost reduction but interest rates are higher. If you lease, the November residuals are lower.
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      11-05-2010, 09:58 AM   #12
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Original post was from last year. Is there another holiday credit thisyear?
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      11-05-2010, 10:46 AM   #13
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Quote:
Originally Posted by luv135i View Post
Original post was from last year. Is there another holiday credit thisyear?
Yes.
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      11-05-2010, 12:54 PM   #14
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Quote:
Originally Posted by PostModernHero View Post
Answering my own question here... running the numbers myself, since they've upped the interest rate to 2.9% (for greater than 36 month loan) to get the $1,500 credit, the deal is not as good as the flat 0.9% I'm already getting. If the credit was $2,500 like last year, it would only be slightly better. Glad I didn't wait for the "Holiday Credit" to place my order... NEVERMIND!

Haha...

I just found that out too, you can't get the 0.9 for over 36 mos and also get the holiday credit for $1500.00. I'm locked in at the 0.9 when my car gets in but I'm doing 48 or 60 mos so the credit is out for me.
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      11-23-2010, 01:17 PM   #15
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Interesting... the email I got today implies you can get the credit AND 0.9... Although I wasn't planning on buying until April or May :-(
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      11-23-2010, 03:06 PM   #16
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Quote:
Originally Posted by Bimmerforlife View Post
I just found that out too, you can't get the 0.9 for over 36 mos and also get the holiday credit for $1500.00. I'm locked in at the 0.9 when my car gets in but I'm doing 48 or 60 mos so the credit is out for me.
I'm in the same situation but I'm going to try to get all (if not some!) of the $1,500 holiday credit. It doesn't hurt to try.

It's cheaper in the long run to have the lower APR, and there's no way I'm refinancing to the higher 2.9% APR

edit: It's possible to get the 0.9% APR, but only if you're financing over 36 months. 37-60 months = 2.9% APR.
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