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203

I do have a question. My lease is going to end in Nov 2020. I got the payoff quote on BMWFS for $20k, and I got several trade in quotes from dealership / Carvana / Vroom for $22k. So I am trying to sell it to the dealership.

However, the dealership told me that they called BMWFS and the payoff quote is different from the one I saw on BMWFS website. Does it sound correct to you guys? The dealership said it is because the lease is approaching to the end and within 120 days of the lease end.

Any thoughts?

204

Was this the third party purchase price, or your payoff? Did BMW offer you any discount?

Yeah their payoff is probably less

205

BMW financing question. From what my SA can tell reading the fine print, once I use the Penfed certificate for purchase (not lease) I cannot use BMW financing and thus I would not get any other incentive like the APR credit or special financing rates or probably not even conquest/rebate.
When I shopped around last month, I did receive quotes showing that the APR credit can be stacked with the Penfed incentive. Can anyone chime in and clarify what can be stacked with Penfed for purchases?

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A question about the MSD: Given the buy rate MF is 0.00099 for this month, does the 0.00035 reduction of MF provided by 7MSDs on top of that? i.e. 0.00064?

207

Yes, assuming you’re getting buy rate to start with.

1 Like
208

Hey Hackrs- I have a question regarding conquest. Which brand(s) would be eligible for conquest? I’ve tried looking it up online but I can’t seem to get an answer

209

Any brand.

2 Likes
210

How strict is BMW with college grad on DTI? We are at like 30% but it’s due to a house, so not much revolving debt.

1 Like
211

Officially

  • To participate in the College Graduate Program, you must:
    Have earned an undergraduate, graduate, or associate’s degree from a U.S. accredited college or university within the previous 24 months, OR be eligible to graduate within the next 6 months and have a verifiable offer of employment. A copy of your diploma or official transcript will be required.
    Have at least 6 months of credit history with no previous derogatory marks on any credit lines.
    A debt-to-income ratio of 20% or less.
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That’s why I’m asking how strict they are unofficially on the DTI aspect of it.

216

Does the new grad have to be the primary signer on the lease to take advantage of the $1000 new grad incentive?

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  1. Is there a limit to getting loyalty credit from bmw?

I have a bmw lease now and will be looking to take on a lease now and then again in 6 months.

Will I be able to claim loyalty on both leases if available?

  1. asked this before but didn’t get a clear answer. Can we qualify for loyalty if I CO-SIGN on a family member lease who doesn’t live in the same household.

Thanks!

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As someone who leased half a dozen BMW’s inside of a year. No, there isn’t a limit.

2 Likes
221

I figured, but great thanks!

Any insight on question #2?

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Had a client recently in that boat. S’all good, man.

1 Like
223

FYI looks like USAA discontinued their discount program.

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Hello Hackrs, I have a question regarding incentives. I verified on Edmunds that the 2021 3 series has $1,500 in lease credit. Is this stackable with other offers such as conquest and Penfed? If so, that is $3k in rebates alone before the discount.

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Lease credit is always given/stacks with everything. Not sure how much conquest is. The incentives are probably better on a 2020 model, so it should be worth considering that as well.

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Can someone advise on Lease to Lease incentive qualifications? I transferred my BMW lease last month. Do I still qualify for a lease to lease incentive?

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My dealer accepted a lease turn in within the last 2 months. I never asked what the threshold is but I’m sure with covid it’s a bit lax.