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      01-27-2013, 07:41 AM   #29

Drives: 2016 M4 SO w/ GB MT ZCP
Join Date: Apr 2012
Location: NorthEast

iTrader: (0)

Originally Posted by blitzboy76 View Post
Hey guys, I have ordered my M3, and am set to take delivery on 4/5. I took advantage of the BMW finance deal for $1500 in holiday cash, but the rate is obviously at least a couple points higher than with penfed. At what point could I refi that loan with penfed? My car is in production right now. It doesn't have a VIN yet (that I know of), only a production number.
I have heard from CA's on other websites that BMW FS requires the owner to have the loan for 6 months prior to early payoff including refinancing in order to take advantage of the credit. Now with this stated, I have not seen a BMW FS contract with this wording. If paid-off in less than 6 months would they change the buyout value to factor for the credit, I don't know but it is an interesting question.

I would plan for worst case and calculate the amount of interest over for the 6 months using the BMW FS rate. How does this compare against the available credit. Decide on financing accordingly.

The BMW credits are often linked to financing through them including the current $1500 and former BMW apps.