Does anyone know how long after a new BMW FS loan you can pay it off without losing the loyalty discount (not getting charged back at loan payoff) you received at time of the purchase? My plan is to get the car through BMW FS and refi through a credit union
You could own a 1990 3 series and still qualify for loyalty.
Chargeback for rebate AFAIK is moreso if your deal involved rate markup and would apply to the selling dealer (not you)
1 Like
Pretty sure the loyalty discount can’t get charged back to the consumer.
1 Like
Thanks! Yes, I meant chargeback of the loyalty discount if you pay off early (edited my question to clarify)
1 Like
You won’t lose any money. You can pay it off anytime. If you want to keep a good relationship with your dealership I would wait 5 payments. That’s what the finance guy told me.
3 Likes
Just did same in December, I ran it by both salesman and finance manager due to same “ ruin relationship/ not the most ethical” posts on LH,both said i should absolutely do it, went from 3.99 to 2.74, no penalty/ chargeback
If you like the dealership, just keep it for 5 payments just in case, after that, feel free.
1 Like
There is no time limit.
Curious as to why five payments?
Did BMWFS change from 90 days? Can you post the bulletin?
I believe it was consistently 90 days and 3 payments for no clawback on markups or bonuses. Some dealers would often say 5-6 to leave a margin for error but that was entirely made up.
Just ask the finance person for the first date you can pay it off without causing any clawbacks.
My info is now 2.5 years old, but on my BMWFS finance it was 3 payments, 90 days or 3 months… I don’t recall.
The person who stands to lose a commission will be more than happy to give you a precise answer.
Makes sense. Back in Feb for my previous car, the finance manager said 90 days. He didn’t say clawback or commission but said “you will get more $ incentive next time you buy through BMWFS” obvious BS but he was trying to encourage me to keep it for 90 days