[MikeMidd]

When I ordered my 335 back on April 29, I also applied for the BMW 3.9% financing. My dealer told me I was approved - but given that some other things have gotten a little funky (build date of over a month after my order, for example), I wanted to get something in writing on the financing approval. He basically said that they don't have anything in writing that they provide to customers for a financing approval, which seemed a little funny to me. Thought I'd see if anyone else had run into this. I might just call BMWFS and see if they can send me something...

[ericsmc83]

Seems a little strange they wouldn't provide you with something when asked. But if you were approved, BMWFS has your approval number with a date attached to it, as well as an expiration date.

Rates are locked in when you are approved AFAIK, so you're most likely fine.

[MikeMidd]

Called BMWFS. They said that BMW Credit had no records with my SSN. I'll need to provide them with more information, but as of now, it doesn't appear that they even have an application for me.

Have requested the approval number from the dealer.

Hmmm...

[rdsport323]

the dealership wouldn't let you order the car unless you have approved credit.. So I wouldn't worry about it too much. I'm sure they will give you the 3.9% when your car arrives.

[garyc242]

I have a similar experience except I asked them to send me the quote so that I would have a copy just in case. Long story short, I finally got them to send me the quote and it was several hundred bucks higher than what it should be. I got tired of dealing with them so I told them to cancel my order and I got a deal done at another dealer.

Just go to another dealer who will do what you ask and you won't be a worrying wreak. I got an email confirmation from bmwfs about the finance approval btw.

[AJerman]

Originally Posted by rdsport323

the dealership wouldn't let you order the car unless you have approved credit.. So I wouldn't worry about it too much. I'm sure they will give you the 3.9% when your car arrives.

I dunno about that. My dealer did a credit check after I ordered. In fact, I was initially denied because my last Cobra was still on my credit report since it was sold so recently.

[MikeMidd]

I just want to make sure I don't get there to the dealer, ready to sign the papers, and have them say, "oh, sorry, you were only approved at 8.9%." Which is the rate one dealer tried to offer me. (!!!)

[pdub335]

visit this thread, similar situation maybe? http://www.e90post.com/forums/showth...39#post2698239

[yoyeewee]

ask the dealer for the bmw fs approval reference CD number. they have to give it to you. if they submitted your credit application to bmw fs, it will have the date of the submission and the approval reference CD number.

your 3.9% is good for 60 days from the expiration of the promotion date. the current promotional dates are from 5/5/08 to 6/30/08. so, if your application was submitted today, your approval is good for 60 days from 6/30/08.

[MikeMidd]

A follow-up question, while I wait for the dealer to get the number (third request...).

I applied on 4/29, before that promotion ran out on 4/30. BMW has since extended the 3.9% financing on sedans. I'm not scheduled for a build until next week or the week after, meaning it is uncertain my car will arrive by 6/30, 60 days after the April promotion ended - especially if I do Performance Center Delivery.

Does the approval guarantee that rate with the stipulation you need to take delivery within 60 days, or with the stipulation that you need to sign the paperwork within 60 days?

It almost makes me wonder if I should re-apply online through BMWFS, just to be save on that stuff and to have that information confirmed myself - rather than apply thru the dealer. Can I do so, with the same dealership?

[MikeMidd]

Originally Posted by pdub335

visit this thread, similar situation maybe? http://www.e90post.com/forums/showth...39#post2698239

I'm working thru what is supposed to be a reputable dealer, highly regarded around here, but yeah, this is the type of stuff I'm worried about. 95% of me says this is worrying over nothing. That last 5% is a little curious and confused...

[yoyeewee]

Originally Posted by MikeMidd

A follow-up question, while I wait for the dealer to get the number (third request...).

I applied on 4/29, before that promotion ran out on 4/30. BMW has since extended the 3.9% financing on sedans. I'm not scheduled for a build until next week or the week after, meaning it is uncertain my car will arrive by 6/30, 60 days after the April promotion ended - especially if I do Performance Center Delivery.

Does the approval guarantee that rate with the stipulation you need to take delivery within 60 days, or with the stipulation that you need to sign the paperwork within 60 days?

It almost makes me wonder if I should re-apply online through BMWFS, just to be save on that stuff and to have that information confirmed myself - rather than apply thru the dealer. Can I do so, with the same dealership?

If your car doesn't arrive by June 30th, then either reapply by yourself online with BMW FS directly or ask the dealer to reapply for you before June 30th to re-lock the rate.

[MikeMidd]

Fascinating.

The CA never put in my financing application. The finance manager said that they were waiting to put it in until closer to delivery, since they knew the 3.9% deal would likely be extended, rather than lock me in to a set timeframe.

I said that I'd rather have that approval now, even if it locks me in to 60 days. They are entering it now, and will have the approval number/information for me on Friday.

I'm somewhat confused/troubled by this. The CA told me just a few days after I submitted the application that I was approved - and it turns out that the paperwork was still sitting there in the folder and hadn't gone anywhere.

[yoyeewee]

Originally Posted by MikeMidd

Fascinating.

The CA never put in my financing application. The finance manager said that they were waiting to put it in until closer to delivery, since they knew the 3.9% deal would likely be extended, rather than lock me in to a set timeframe.

I said that I'd rather have that approval now, even if it locks me in to 60 days. They are entering it now, and will have the approval number/information for me on Friday.

I'm somewhat confused/troubled by this. The CA told me just a few days after I submitted the application that I was approved - and it turns out that the paperwork was still sitting there in the folder and hadn't gone anywhere.

Unfortunately, he lied to you. Your CA probably knew that the 3.9% rate was extended therefore saw no urgency to lock in your rate. He should have been up front with you and said that the 3.9% was extended therefore he did not lock in the rate yet.