PenFed Bonus Cash incentive not applicable for lease?

Ask the Hackrs
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1

Just joined PenFed couple weeks ago, looking to lease a BMW M340i around December time.
Currently PenFed is offering $2500 bonus cash for 3 series.
I know you have to be at least 60 days to generate the Bonus cash incentive code, but I was reading through the find print, it says,“Cash incentives are not applicable for vehicles leased/financed through BMW Financial Services.”
Does it mean you have to lease through PenFed to get the $2500 or leased cars are not qualified for this incentive?
Also I headed there is a $500 incentive for being a PenFed member when leasing. Are these two the same thing or just completely different?
Thank you!

2

$500 for leasing only

3

USAA stopped it’s car buying program since 9/30/2020. PedFen only offers $500 for leasing. Do you know any other programs offer a little bit more incentives for military?

4

i have USAA also but im not aware of any other military programs. lots of first responder, medical people. bmw cca i think offers $500 after 6 months but im not aware of anything else. you could hope for costco to do something after january or get an OL code from a bmw driving event

5

I thought you have to be a BMWCCA member for 6 month before getting the code, but just found out last week you have to pay to be a member as well. I’m looking to lease around December so this probably won’t work for me. I have the corporate fleet discount for $2000 but don’t think it can combine with CCA, college grad(which I have), PenFed?

6

This is what i found from corporate program: "BMW Pre-Owned vehicles do not qualify. BMW Company Vehicles, Extended Test Drive, Retired Service Loaners, and previously reported vehicles with 5,000 or more miles are not eligible.

BMW Corporate Sales Program incentive cannot be used in conjunction with Car Club of America (CCA), College Graduate Program, Group Partner & Family Program, European Delivery Program, Diplomatic and Embassy Program, Military Sales Program (USAA), Limousine & Hotel Shuttle Program, and VIP Purchase Program."

7

you might be better off using a broker and adding your incentives in addition to their offered discounts.

8

I was trying to shop around by myself first, but I think you might be right.

9

So much going on here

Usaa and Pedfed has $500 for any bmw lease or finance through bmwfs

If you purchase or finance through anyone else it’s whatever Penfed shows as the credit but you lose bmwfs apr credit when you do that so it’s either a wash or slightly better than bmwfs.

Fleet doesn’t work with usaa/penfed/ol code

10

Thanks for clarifying.
I thought USAA stopped their car buying program since 09/30/2020 so the $500 went away. Or you can just get the $500 simply being a member of USAA or Penfed?
I’m trying to do the math and put together a good incentive combo, so far seems like I can get:
USAA/PenFed $500, Recent Grad $1000, and whatever the apr or lease credit there is available for that month.
Or if I choose to go with fleet, it would be $2000 plus the apr or lease credit.
Am I missing something here? Not qualified for loyalty, lease to lease

11

5 posts were merged into an existing topic: PenFed Benefits - Up to $2000 BMW Volvo MB FCA Mini (usually $500 towards leases)