I am planning to post occasional updates to this thread, primarily to account for maintenance costs, plus any OOP repair costs after the original warranty and CPO coverages expire, but here is an update on the upfront costs.
As mentioned, the Loyalty Credit required BMWFS financing, so I took a 36-month term to get the lowest APR (0.9%).
I agreed to keep the loan open for three payment cycles so BMWFS doesn’t charge back the $500 incentive to the dealer, and so the dealer’s finance rep doesn’t lose her commission on the loan.
The loan is now paid down to $135, which I’ll finish off when the March payment is due (which will be 3 payment cycles following delivery).
Interest is now accumulating at a rate of (($135*0.009)/365) = $0.003 per day, so less than 15 cents of additional interest will accrue between now and then.
$50,750 - purchase price
(131) - credit card rewards
(500) - Loyalty Credit
(250) - BMWCCA CPO post-sale rebate
34 - interest on financing
(5) - courtesy credit from Bank of America for delayed payment delivery**
$49,898
** I’ll explain this in my next post