@ajgraham They’re offering me a 1% sales tax rate as opposed to 6.25% on full price of the vehicle here in TX. That’s close to $2k in savings if I pre pay. Which is why I’m considering doing one pay.
Edit: I’ll double check with them on the APR/MF tomorrow.
Oh, yes, I think you’re right, insurance would pay the loan and then whatever you were in for. That is if you carry the full cost.
Are they offering it on a lease or Owner’s Choice loan? I was getting that deal on leases, but never Owner’s Choice.
If you can get the OL for test drives to work, and the sales tax discount, you may even make a few bucks!
Will there there be a problem if there is a “gap” i.e if the Market Value is lower than the Amount we Owe. (i.e. the reason for having a gap insurance). I may be wrong also!
Yes, if you carry less than what you owe and the car is totaled then you will need to pay the difference. I personally prefer to accumulate such a rainy day fund rather than insure completely, but you can always get gap insurance.
Start a new thread with your deal details, round the MSRP amount to hide which vehicle it’s for and @ tag us so we see it and we can help you. The Owners Choice deals are great but the numbers are complicated especially with tax credits.
@andyecon Does Owners Choice not have gap coverage built-in? I thought it was included if below 80% LTV. Ref:
I’ll check my contract.
@ajgraham and @andyecon owner’s choice doesn’t include GAP by default. My contract GAP not included. But the Finance guy at the dealership told usually you don’t need a GAP if the LTV is 80% below.
I am in Texas and interested in getting this deal (if its still available). Couple of questions
a) Does the federal tax credit is true tax credit that we can claim irrespective of itemizing the deductions (not the sales tax deductions in itemization)?
b) Any updates whether its still feasible to get the Texas EV credit. The TCEQ link that some one posted above shows 170 still available.
Thanks in advance
I called the department today and was told there is still a few left, but need to hurry if I want to apply, plus it can be ended anytime soon, because she receives ~30 applications per day.
Anyway, I just expressed mailed out my application today, which will be delivered tomorrow.
Reach out to BMW San Antonio @MichaelPolak-BMWSA they have sold over 30 Nos. in the last 2 weeks. The inventory is flying.
Federal credit is via form 8936 along with regular filing apart from the deductions and itemization’s.
Good Luck.
Got my 330e yesterday from BMW of San Antonio. Thanks @andyecon and @MichaelPolak-BMWSA
MSRP: 47,695
Payment: 365/month with 0 down
Term: 24 Months
Miles: 10,000/year
Pulled trigger yesterday as well. Loaner with 2k miles.
MSRP : 52,xxx
Payment: $383 with 0 down
Term : 24/15k
Thanks all.
Thanks for the update. trying to work with @MichaelPolak-BMWSA to get one of these.
Did you guys drive to San Antonio to sign the paperwork and pickup the vehicle (if you are not local to SA)?
Yes. I drove down yesterday to pick it up. If you are planning to go there, please make sure you are okay with the deal before you go there. They don’t do anything better (at least in my case) once we go there even they say they can do !
Drove as well. And just like the other poster said, finalize the deal before you head out.
I did all email/text from Austin.
I’m in Dallas area. Is this still available? Willing to go down to SA to pick up the vehicle. Thanks!
Read thread, you can contact the dealership and start negotiating.