Wow, that’s his is cool. Kudos, OP, I’ve been a PenFed home mortgage customer for 7+ years,never paid attention to this.
One question, looking at the 7 series, shouldn’t the incentive be $2k instead of $500? Or does the $2k apppy only when you go through one of their dealers?
Just saw it on my PenFed account too after OP posted it. I am in the market for a Volvo right now. Requested the certificate last night and came instantly.
As far as PenFed goes, I have used them when I got a Tesla Model 3 back in April 2019, and used PenFed instead of Tesla financing. Their rate was the cheapest at that time (2.49 %) vs 4.25 % with Tesla. The paperwork was a breeze. Only thing is you need to keep a $ 5 minimum account balance in their checking account to qualify for their membership if you don’t tick any of their other requirements for membership.
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Just used it on a 2020 7 series. Don’t need to finance through PenFed it’s a rebate with manufacturer. $500 lease cap on all. Purchase amounts vary.
Volvo rebate is $1000 but they cap you at 5% off msrp and you can do way better than that, it may not be worth it for Volvo unless dealer discounts and gives you the rebate.
opened an account with $5. There might be a 30 day waiting period which will be just in time for end of year or January 2020 as I’m waiting for my CCA to reset. Hope it’s not smoke and it acts like fleet without the loyalty exclusion.
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I am a Penfed member. For a BMW lease can I stack on Loyalty, Finance incentive if avail, OL code and this Penfed benefit? If so, could pull off a good deal.
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So just found out with the broker that you cannot double dip on the Volvo offers. It could be either A-Plan incentive paired with factory invoice OR just your regular negotiated discount off MSRP. According to my broker and a few experts here, they just seem to ignore A-Plan code because they have a much better negotiated deal with their dealers.
I’ve used Penfed a couple of times for preapproval and both were auto approved within minutes. They mail you a check that you write to whomever up to your max requested loan amount. First time we leased again and didn’t use it. 2 years ago we used it to buy a brand new odyssey and finance half of it at 2.49 for 48 months as the leases blew and Honda finally made the GVWR over 6000lbs so could sec179 the entire cost at year end for business. They did give back and forth 1 month in getting insurance but was only 2 five minute calls. The rest has run smoothly.
This $500 on leases or financed through BMFS looks to have just started in Sept 2019. Thanks for the heads up @senwia. I’d pulled MB codes before and it takes 2 minutes. This is a great $500 on any BMW lease other than i3.
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Agreed. I had looked into an Alfa and using Penfed certificate and it wouldn’t work for a lease, only on purchase.
Confirmed that the Penfed code works on a BMW Owner’s Choice purchase in TX. It was the straight $500 even though the vehicle carries a $2,000 on purchases according to the PenFed sheet. I believe this is if you use your own financing and not BMW FS.
It stacked with Loyalty, Lease Credit and OL code.
It was instantaneously applied by the dealer at the same time they entered all others.
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That’s great news and a great data point, congratulations and thanks for sharing.
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Was told by BMW dealer in socal that it can’t be stacked with loyalty. Corporate program discounts.
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I can not find this rebate within my PenFed account. Can someone advise how to find it once logged in? Thanks.
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In Google type in penfed true car incentive
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So I’ve contacted a couple of brokers about stacking both OL and PenFed and was told they could not, so I am curious which brokers, if any, can stack both OL & PenFed in NJ/NYC area. Thanks!
If BMW financial doesn’t allow it, then how would you find a broker who could allow it?
Idk if BMWFS allows it or not, thats why im asking.
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Ask here maybe
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Only two data points suggests it stacks, they could however be incorrect (including mine) and the dealer will eat the mistake, this is fairly new for BMW. Wondering if anyone one from BMW can verify?
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So this for sure requires 30 days membership? Thinking about signing up but if I get a car in the next week or two it wouldnt even matter it sounds like