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      09-23-2011, 09:58 AM   #1
Jason
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Post BMW Expands College Graduate Program for College Grads and Young Professionals

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BMW Expands College Graduate Program for College Grads and Young Professionals
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Woodcliff Lake, NJ – September 23, 2011 – BMW Group Financial Services has opened the door for college graduates and young professionals to increase their purchase power through the company’s College Graduation Program. The Program encompasses both leases and loans and applies to new and certified pre-owned BMW and MINI automobiles, as well as BMW motorcycles. Customers who meet the program criteria will be offered the best available rates based on their FICO scores. In addition, lease customers will qualify for a waiver of the security deposit.

“As a captive finance company, we have the capacity to be more flexible than other institutions,” said Steve Swecker, general manager of sales operations. “We developed the College Graduate program to target one of the most essential customer bases, that of the entry-level buyer. The program provides young professionals the accessibility to our brands based on their ability to pay, rather than a capped allowance.” Swecker maintains that this program opens the world of BMW and MINI to those rewarding themselves upon graduation. “Completing college is an exciting point in life, and graduates want to reward themselves for the accomplishment. Our College Graduate program helps make this reward attainable.”

The BMW Group Financial Services College Graduate program taps a distinct audience of college graduates and graduate students. The program guidelines include:
  • Graduation from an accredited college or university with an undergraduate or graduate degree earned within the previous 12 months (requires a copy of the graduate’s diploma or official transcript).

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  • Eligible for graduation from an accredited college or university with an undergraduate or graduate degree within the next 4 months and have a verifiable firm offer of employment commencing after graduation.

Other requirements include proof of income or the employer’s letter with contact information stating position / title and income, a minimum of 24 months of credit on file and no previous derogatory credit on any held credit trades; gross debt to income ratio of less than 45%; gross automotive payment to income ratio of less than 25%. All applicants are required to complete a credit application for final approval.

The College Graduate Program is exclusively from BMW and MINI Financial Services and will be marketed through social media platforms, as well as through the BMW and MINI retail network.

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      09-23-2011, 11:47 AM   #2
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wow, that is awesome. missed it by couple of month.
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      09-23-2011, 12:04 PM   #3
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That is awesome. Glad to see they're trying to help the customers out
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      09-23-2011, 12:28 PM   #4
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nice...what kind of rates are we talkin' here
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      09-23-2011, 12:35 PM   #5
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nice! increase american's natural tendency to live in debt!
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      09-23-2011, 12:38 PM   #6
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glad to see them taking care of us younger folks!
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      09-23-2011, 12:50 PM   #7
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      09-23-2011, 01:21 PM   #8
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7 years ago I got 1.9% 5 yr financing on my E46.

Now, I'm already old
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      09-23-2011, 03:25 PM   #9
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I graduate in 2 months!!! too bad I don't live in the US
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BMW have tapped into this by mirroring typical BMW dynamics and steering communication within the new UKL cars.
You mean massive body roll, a steering system that is not connected to the front wheels, and the engine note played through the speaker system?!?!?!?!
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      09-24-2011, 01:05 AM   #10
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hopefully if u can truly afford to finance a BMW u have parents who can afford them too, ergo they will co-sign for you in order to get a great rate [given they have good credit]
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      09-24-2011, 10:26 AM   #11
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with college expensive as it nowadays, i dont see how any recent grads can afford a BMW within the first 12 months. especially since most dont get jobs for awhile
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      09-24-2011, 11:16 AM   #12
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BMW gave me something like this when I bought my car last year. It was annoyning having the car sales man ask me if my dad needed to come in a co sign.
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      09-24-2011, 01:31 PM   #13
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Quote:
Originally Posted by bodonx View Post
7 years ago I got 1.9% 5 yr financing on my E46.

Now, I'm already old
I got that last year on my '10 E92. Pretty sure there was no special or anything. 1.9, 60 months. I was 21 at the time. Nothing special.
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      09-25-2011, 06:04 PM   #14
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Quote:
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Quote:
Originally Posted by bodonx View Post
7 years ago I got 1.9% 5 yr financing on my E46.

Now, I'm already old
I got that last year on my '10 E92. Pretty sure there was no special or anything. 1.9, 60 months. I was 21 at the time. Nothing special.
Damn e92 at 21, if you don't mind, what did you major in in college?
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      09-26-2011, 11:42 AM   #15
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Does this incentive only include special financing rates or is there a cash credit also?
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      09-26-2011, 12:33 PM   #16
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I think VW/Audi has been doing this for a while as well. IIRC I looked into it when I graduated...
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