If I submit a credit app to BMWFS it asks for a specific dealer. Can all BMW dealers access that application decision if I wish them too?
The application is pretty generic as far as the car details are concerned you just select a model and lease length and milage. The approval says it’s good for like 90 days.
So if for some reason a deal breaks down at the last minute and I go to another BMW dealer will I have submit yet another credit app? That seems pretty pointless.
What is the purpose of the credit app with no specific deal hammered out?
I was thinking in case a deal somehow breaks down at the last moment. You know how dealers are. I’m more curious than anything.
I think you’re overthinking this.
Yes you will. Every dealer requires you to submit an app through them. At this point, it will be a match call with FS. Whatever you’re approved for at one place will be the same at the other.
So here is a deal I have on the table for a fairly well-optioned 330Xi:
MSRP: $48,835
Sales Price: $43890 (9.4% off)
Rebates: $2250 (lease cash & conquest. no costco or OL where I’m at).
MF: .00165
7 MSDs
Doc Fee: 144
DMV fee: 295
Acquisition fee: 925
Monthly: $467 ($429 + $38 taxes)
It’s not the Portimao Blue M-sport I was hoping to hack. But With the exception of being Alpine white it has nearly all the features I want and not too many I don’t.
I figured I’m leaving some money on the table but it does come in under the 1% rule for a car that’s only been out a few months.
Discount on MSRP seems low, push for more.
Since I’ll get the BMCCA rebate (been a member since 2011). What do people think of just putting $500 towards the cap cost and essentially paying myself back with the rebate? would save about $25 in interest over the course of the lease.
Obviously putting money down is strongly discouraged but this it is effectively risk free would just be a way of factoring that rebate into the deal.
You are already paying $2k up front, so leave well enough alone and recoup some of THAT with the rebate.
However, I’d push for more discount. I’d be trying for 12%, at least. If you can get to 10.5%, that would drop you to $450 AND as a result drop your MSDs to 3150.
Discount of 12% at min, keep pushing and widen your search. Even though the 2019 model is only a few months, it will start to get more stale on dealer lots. Keep an open mind to colors and options.