How does "Holiday Cash" work (and other discounts)?

[mtfinger]

Sorry, 1 more follow up question. I want to make sure I have this straight before talking to dealers.

I know that you have to go through BMWfs to get the Holiday Cash.

Can I do the deal through BMWfs (to get the Holiday Cash), then right away just pay off the loan or do I have to keep the BMWfs loan for a period of time?

Thanks!

[White 13]

Originally Posted by NoM3Yet

Sorry, 1 more follow up question. I want to make sure I have this straight before talking to dealers.

I know that you have to go through BMWfs to get the Holiday Cash.

Can I do the deal through BMWfs (to get the Holiday Cash), then right away just pay off the loan or do I have to keep the BMWfs loan for a period of time?

Thanks!

My dealer mentioned this plan and said there was 3 (maybe it was 6) payments that had to be made. Another question is how is the interest handled? Is it payed up front? Any prepayment costs? I think he said min amount borrowed was $7500.

[NHman]

Originally Posted by NoM3Yet

Sorry, 1 more follow up question. I want to make sure I have this straight before talking to dealers.

I know that you have to go through BMWfs to get the Holiday Cash.

Can I do the deal through BMWfs (to get the Holiday Cash), then right away just pay off the loan or do I have to keep the BMWfs loan for a period of time?

Thanks!

Minimum of 4 payments and $7500. Still a good deal weighing interest paid vs. credit applied.

[White 13]

Originally Posted by NHman

Minimum of 4 payments and $7500. Still a good deal weighing interest paid vs. credit applied.

Is the interest added to the loan up front?
Any early pay off fees?
Other pitfalls?

Have you done this? Seems like a easy way to make some money.

Any idea what the interest and fees for a $7500, 4 month loan would be?

Thanks

[NHman]

Originally Posted by White 13

Is the interest added to the loan up front?
Any early pay off fees?
Other pitfalls?

Have you done this? Seems like a easy way to make some money.

Any idea what the interest and fees for a $7500, 4 month loan would be?

Thanks

I have only researched it as I will be ordering an M3 and X3 within the next 30-45 days. Most loans are interest heavy in the first year but on $7,500 it shouldn't be bad. I believe the interest rate is 3-3.25%. No fees.

[BobS]

Are they going to extend or have any other programs after Jan 1st? I know this is probably a impossible question to answer but I'm parting out my 335 now and won't be able to look at a m3 till mid Jan

[NHman]

Originally Posted by BobS

Are they going to extend or have any other programs after Jan 1st? I know this is probably a impossible question to answer but I'm parting out my 335 now and won't be able to look at a m3 till mid Jan

I don't know and I suspect the information will not be available until the current program expires. However, assuming that you would be taking delivery within 60 days and financing through BMW Financial, the existing program would still apply. Simply submit a credit application through your dealer.

My guess it that some type of incentive would be available as the M3 is in the final year of production. The demand seems to be there but search the auto websites and you'll find a lot of coupes and verts available.

I am planning on securing a deal sometime between mid to late January for late April to early May delivery (possibly PCD).

The year-end program is good for a M3. If leasing, the residual is now 59/61/62 for 15k/12k/10k respectively. Combine this with Holiday, Loyalty and BMW Apps plus include MSD's, it would make for a low payment.

[BobS]

I'm between leasing and buying a cpo 2010-2011, but I want to part out my 335 first so I'm not in a rush. I need the car once spring comes bc I won't want it during the winter and it's not my DD. I'm sure there will be more programs....

[Hothonda]

Originally Posted by NHman

Minimum of 4 payments and $7500. Still a good deal weighing interest paid vs. credit applied.

Doubtful there's a minimum time you have to wait to pay off the note.
I believe the dealer would like you to wait (to get a financing kicker), but can not make you pay a certain number of installments & interest....that would be "usury" in legal terms.

Check your financing paperwork...it's not part of the contract.

BMW financial will give you your payoff number online or over the phone good for a certain number of days regardless of how long you've had the loan.

You pay them - they send you the title.