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Special Order and Locking Incentives/Finance Rate Questions
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12-03-2009, 02:31 PM | #1 |
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Special Order and Locking Incentives/Finance Rate Questions
So I am closing in on a special order BMW (my first) and would like to lock in the interest rate/incentives. My client advisor at Dealership A told me that I do not need to submit a credit application to lock the rates, simply the deposit on the order will be sufficient. Does this sound correct? Or do I need to a credit app now and later?
Thanks, Chuck Last edited by mercury26; 12-03-2009 at 03:20 PM.. Reason: update title |
12-03-2009, 02:46 PM | #2 |
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Sounds odd... My CA told me that you had to submit the credit app to lock the rate, as you get 90 days from approval (which makes sense as you have to have a BMWFS event to start the 90 days from). If you are definately going to get the car, and want to lock the current rate (or get better if they change for the better before the end of your lock), I would fill out the app. You can do it on the BMWUSA site, and they send it to the dealer you pick.
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12-03-2009, 03:15 PM | #3 |
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Sounds odd to me also, hence my question...
When you do the application online does it provide "instanteous" approval? Thanks, Chuck |
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12-04-2009, 05:15 PM | #4 |
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Almost instantaneous. I got an email from BMWFS about an hour later congratulating me on being approved, which provided an approval number as well as an expiration date. Good luck!
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12-04-2009, 05:16 PM | #5 |
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Drives: 20 Audi SQ5,05 BMW 330i ZHP
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Thanks, my CA was incorrect. I filled out a credit app today and got approved (and locked).
Thanks Chuck |
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