# Is the PENFED discount real?



## Autoputzer (Mar 16, 2014)

.https://penfed.truecar.com/oem/landing/bmw/

In other words, it this really a price reduction on what the dealer ultimately pays BMW for the car with the savings passed on to you?

.. Or is it PENFED/TrueCar just negotiating with dealers for a standardized lower price (from MSRP) on your behalf?

I got the real USAA discounts on our previous BMW's. But, apparently that's gone now.

Thanks.


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## NytWolf (Mar 25, 2020)

Watch this video. Also watch the one right after about Costco's car program. It's all the same thing.






You'll quickly find out all these "pre-negotiated" prices are just a way to get you into the door. The dealer can still jack up the price of the car if you don't know what you're doing.


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## SteveinArizona (Sep 12, 2016)

I tried Costco for a Volvo XC60 T8 which I cross shopped against the BMW 530e. The discount was tiny. I ended up walking away from the Volvo dealerships because (a) the discount was insignficant whereas I got almost $10K off on my BMW); and (b) it didn't drive nearly as well as the BMW. Not only did it drive worse because it was so tall but the transmission settings didn't match up with the HP/torque specs. They seemed to have produced a 400 HP car and then programmed the transmission to maximize mpg. 

But I diverge. Go ahead and try these programs but they will usually not equal what you can realize with even half hearted efforts.


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## kssod (Jun 15, 2010)

Negotiated best price on 2020 X5 with dealer in July. PenFed $500 was on top of the dealer negotiated price, as was the loyalty and the $2500 APR BMW credit. A total of$4k on top of the dealer sale price for the vehicle. Also got the BMWCCA $1000 3 weeks later. So, Yes in my experience the $500 PENFed is on top of the best dealer percentage sale price.


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## mffalrrel (Jul 1, 2011)

When I purchased my 2020 M550 in February here is the discounts that I received:

Dealer discount $7K
Dealer cash $6.5K
Penfed. $2K
OL code. $500
Bmwcca. $1K


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## DBV (Sep 21, 2008)

So, there is this the same as USAA on leases? I thought Jon had mentioned BMW was going to replace this? I think USAA still offers discounts.


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## EX-Ingolstadt (Jul 25, 2020)

Autoputzer said:


> .https://penfed.truecar.com/oem/landing/bmw/
> 
> In other words, it this really a price reduction on what the dealer ultimately pays BMW for the car with the savings passed on to you?
> 
> ...


Penfed offers members both the buying service through true car and a separate customer cash offer on purchases. Unfortunately, the amount of customer cash is pretty modest ($500) if you're leasing or financing through bmwfs. If bmwfs is not involved, the customer cash is much better ($2500 on 3ers).

Here's the link and below is the fine print. 





Car Buying Service - PenFed







penfed.truecar.com





"Special BMW Incentive offer is valid at any authorized BMW Center in the United States. *Cash incentives are not applicable for vehicles leased/financed through BMW Financial Services. *Member must take retail delivery January 06, 2020 - January 4, 2021. Incentive offer is subject to change without prior notice. This special incentive is available to Pentagon Federal Credit Union members with greater than 60 days of membership. BMW requires presentation of a photo ID your BMW Manufacturer Certificate with a unique Customer ID and Offer Code. Visit the PenFed Car Buying Service to receive BMW Certificate. One incentive per member, per offer code, per calendar year for new BMW vehicles. Eligible member must be the purchaser. See your authorized BMW Center for complete program details."


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## Autoputzer (Mar 16, 2014)

Yeah, the more times I read PENED's webpage, the more it sounds like that is real cash from BMW. The offer's good from Jan 6,2020 through Jan 4, 2021. Hopefully it will be renewed annually. The discount on a 5 Series is $3250. For 7's and 8's, it's $4000. It's $11,000 on an i3.

PENFED is the third largest credit union, after Navy FCU and the NC State Employees FCU. They have great service, too. But, they're real strict about credit worthiness for approving loans. That keeps their losses and interest rates down. They're currently offering 1.39% on "car buying service," 36-month new car loans, 2.14% without going through their car buying service. I re-fi-ed our mortgage wit them years ago, and it was easy and the non-government fees were only about $200. I was provisionally approved on line in ten minutes.

If you're not military or DoD civilian, you can still join PENFED through a "back door." Do this by going on PENFED.org and clicking on Join. They'll send you an e-mail on how to join.


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## EX-Ingolstadt (Jul 25, 2020)

I joined a few days ago. Waiting for the 60 day clock to run (and MY21 incentives for improve).


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## TexasBMW (Mar 20, 2007)

What is the OL Code?

Thanks.



mffalrrel said:


> When I purchased my 2020 M550 in February here is the discounts that I received:
> 
> Dealer discount $7K
> Dealer cash $6.5K
> ...


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## EX-Ingolstadt (Jul 25, 2020)

OL is short for "One Life" code - it's a code given to prospective purchasers by BMW NA following participation in a BMW marketing activity such as an Ultimate Driving Experience event. See for instance THE BMW ACCELERATE INTO AUTUMN TEST DRIVE EVENT | BMW of South Austin.


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## TexasBMW (Mar 20, 2007)

Thank you. Great - I have the code!


EX-Ingolstadt said:


> OL is short for "One Life" code - it's a code given to prospective purchasers by BMW NA following participation in a BMW marketing activity such as an Ultimate Driving Experience event. See for instance THE BMW ACCELERATE INTO AUTUMN TEST DRIVE EVENT | BMW of South Austin.


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## EX-Ingolstadt (Jul 25, 2020)

TexasBMW said:


> Thank you. Great - I have the code!


No problem. You should be aware that the $1k code is actually composed of $500 from the BMW and $500 from the dealer associated with the code. They are also regional in nature so if you buy from a dealer other than the dealer that issued the code (but in the same region), you might only get $500. If you buy from a different dealer in a different region, you might get $0. If buying from a different dealer or a dealer far from home, you might want to sign up for a virtual test drive with the dealer you intend to buy from in order to maximize your incentive dollars.


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## TexasBMW (Mar 20, 2007)

EX-Ingolstadt said:


> No problem. You should be aware that the $1k code is actually composed of $500 from the BMW and $500 from the dealer associated with the code. They are also regional in nature so if you buy from a dealer other than the dealer that issued the code (but in the same region), you might only get $500. If you buy from a different dealer in a different region, you might get $0. If buying from a different dealer or a dealer far from home, you might want to sign up for a virtual test drive with the dealer you intend to buy from in order to maximize your incentive dollars.


Excellent advice, again. Thank you!


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## mffalrrel (Jul 1, 2011)

TexasBMW said:


> What is the OL Code?
> 
> Thanks.


You have to go online at Penfed and register, then you will receive a code.


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