# New Nov/Dec Holiday Cash/ credit program



## DSTJ99 (Nov 21, 2012)

Does the extra November cash impact a 15 Exec demo or are the demo discounts handled differently?


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## Canhouter (Oct 29, 2013)

As far as I am aware no credits including UDE are applicable on demos. Only the MF and residual rates apply. Hopefully they discount the prices further to make up for the loss of Nov credits.


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## Milo911MD (Apr 14, 2015)

does anyone have any info on the residuals for Nov program


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## AksNasZasNas (May 30, 2013)

Milo911MD said:


> does anyone have any info on the residuals for Nov program


I would like this info too particularly for 2015 3/5 GTs and X1 and X5. Looking for 24 and 36 month numbers. You can PM me as well. Thanks.


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## iSpY (Dec 12, 2002)

Hi there,

Does anyone know how to 'relock' the new Nov lease program? I already turned in my BMW FS application in Oct. Should I resubmit the application again to get the Nov program? Thanks!

I-spy


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## TexasBMW (Mar 20, 2007)

So are those Loyalty amounts listed below the same thing as the Option Credit, or in- addition to(and stackable with) the Option Credit?



theLeaseGuys said:


> AksNasZasNas,
> 
> Regarding the loyalty I have been told it only applies to the 2016 X3/X4's for a $1,000 and for the X5/X6's for $1,500.
> 
> ...


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## nealh (Oct 4, 2003)

I have seen an ad for up to $6500 off on TV. If this trunk cash to the dealer?


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## drpie (Dec 4, 2012)

Thanks for the info !


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## Bunky (Nov 21, 2008)

iSpY said:


> Hi there,
> 
> Does anyone know how to 'relock' the new Nov lease program? I already turned in my BMW FS application in Oct. Should I resubmit the application again to get the Nov program? Thanks!
> 
> I-spy


iSpY,

I have a few questions for you. I allegedly locked on Saturday so I could keep Oct. numbers, but have been told that that was a mistake.

1. Are you sure things are better overall for your deal in November if they are letting you stay locked for October? My impression is that in November, residual values went down, MF got a little better, and there is some more rebate cash, but my specific deal was better with October numbers where the residual was 2% higher.

2. What would make the difference if you re-submitted an app? Are they letting (or making) you keep your October lock? I'm under the impression that is not possible to do. Also, I didn't sign anything stating there was some sort of "lock." My impression was it was just to "make sure you can get financing, so that step is over."

I'm thinking you have to take November terms unless you actually signed a lease agreement on or before November 2nd.


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## Milo911MD (Apr 14, 2015)

I think Nov program is much WORSE than before for lease. They decrease the % residual by 3% and they added some cash back instead (but it does not make up for loss on % residual).
I think it would be advisable to wait for DEC offering, if you can wait.


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## Orient330iNYC (Jul 30, 2002)

Bunky said:


> iSpY,
> 
> I have a few questions for you. I allegedly locked on Saturday so I could keep Oct. numbers, but have been told that that was a mistake.
> 
> ...


if you had submitted a credit app and was approved by bmw fs in October, you have a 60-90 day lock on the rate program. (east coast- west coast)

if they took the app but didnt submit it before the program ended at COB monday, then its not locked.


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## kromix (Mar 20, 2013)

Milo911MD said:


> I think Nov program is much WORSE than before for lease. They decrease the % residual by 3% and they added some cash back instead (but it does not make up for loss on % residual).
> I think it would be advisable to wait for DEC offering, if you can wait.


On which car(s) was the residual decreased by 3%??


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## Orient330iNYC (Jul 30, 2002)

kromix said:


> On which car(s) was the residual decreased by 3%??


i believe the 4'ers


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## Milo911MD (Apr 14, 2015)

And 6 series


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## Canhouter (Oct 29, 2013)

And the 3 series as well - was checking for 3 GT -24 months/10k residual dropped from 71% to 67% in Nov


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## Canhouter (Oct 29, 2013)

Those numbers are for 2015 MY


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## Milo911MD (Apr 14, 2015)

All 2016 6 series % residual dropped by 3%


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## Ninong (May 20, 2014)

Milo911MD said:


> does anyone have any info on the residuals for Nov program


If the car you are interested in is one of the ones BMW features in its Special Lease Offers on BMWUSA.com then you can calculate your own residual. Their offers show the MSRP and residual amount for a 36-mo/10K lease. Just divide the residual amount by the given MSRP to get the percent. For 12K, subtract 1% and for 15K subtract 3%. Since they don't give you enough details to know their exact net cap cost and exact monthly rental charge, you can't figure out the money factor but others have posted that it is .00131 for November on most cars. Confirm everything with your client advisor.


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## Ninong (May 20, 2014)

iSpY said:


> Does anyone know how to 'relock' the new Nov lease program? I already turned in my BMW FS application in Oct. Should I resubmit the application again to get the Nov program?


If the dealership submitted your credit app to BMWFS and received an official approval, then you are approved for that MF and residual. However, when you actually sign the lease agreement, you can always choose whatever the current program is on that date if you like it better. You just can't mix and match, if you know what I mean.

Are you actually signing the lease in November? Or is this an ordered car or a European Delivery car? Anyway, pick your poison when you sign the lease if you like that month's program better.

I am assuming that your credit app was submitted to BMWFS, right? Besides, why would you want to lock in November's program when you know it ends November 30th? December's program will probably be better.


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## drpie (Dec 4, 2012)

What is the bank fee for BMFS for a lease ?


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## hdbmw (Nov 14, 2015)

IL updated its lease laws earlier this year but the traditional lease still came up more. I will ask them Monday about the warranty coverage. All dealerships closed on Sunday. Not sure if this only applies to Chicago or the whole state.


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## Ninong (May 20, 2014)

hdbmw said:


> Loaner with 6300 miles
> 
> 75k bumper to bumper warranty
> 
> 75k maintenance warranty


I suggest you get a better understanding of what you're getting because your comments so far lead me to believe there has been a communication gap between you and the person selling you this car.

You are buying a loaner with 6,300 miles. This car is not exactly a used car but it is not exactly a new car either. You will be the first retail owner of the car and you will receive the balance of the original 4 years/50,000 miles factory warranty and the balance of the 4 years/50,000 miles factory maintenance coverage. Both started with the original in-service date and both will expire 4 years from that date and or 50,000 miles, whichever comes first.

You say you have 75,000 miles bumper-to-bumper warranty, as well as 75,000 miles maintenance warranty. I suspect that what you might have is Elite coverage that the dealer added to this car since it has under 15,000 miles. It gives you an extra year and an extra 25,000 miles. That means this additional coverage will run out 5 years or 75,000 miles from the original in-service date of the car. It has absolutely nothing to do with the date the car is delivered to you. I'm afraid you might be confused about that. You also may be confused about exactly what is covered. I suggest you read the coverage carefully first so that you have a better understanding of what you are getting..

The 75,000 miles maintenance agreement means they included the optional 1 year/25,000 miles factory maintenance option to coincide with the added 1 year/25,000 mile Elite coverage. Just so you understand, both of those will expire exactly 5 years or 75,000 miles from the original in-service date, not from your particular delivery date.

Because the car has only 6,300 miles on it right now, you're not losing too much of the mileage on the warranty but you should ask for the original in-service date just so you will know exactly when the warranty started because it runs out four years from that date, plus the extra year for the Elite coverage.

P.S. -- The reason the Owner's Choice finance contract may have been more attractive to you in your particular situation was because you specified 25,000 miles/year. BMWFS offers subvened (subsidized) rates (money factors and residuals) on leases up to 36 months (sometimes 39 months) and up to 15,000 miles per year; however, their rates may not be supported as well for leases of 20,000 or 25,000 miles per year. Twenty-five thousand miles per year is the maximum they are willing to write on a lease but they would much prefer not to because they don't want high mileage cars coming back to them, so they don't go out of their way to encourage them.


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## hdbmw (Nov 14, 2015)

Ninong
You are correct about the warranty. I'm more concern about the bumper to bumper warranty than the maintenance warranty. They wanted an additional $3000 to get a 100k warranty. I was hoping not to be on the hook for any possible repairs during the last 6300 miles. They are not willing to help except to advise bringing the car in towards the end to negotiate another deal. 

This once again is my 1st time with a lease and potential 1st long term BMW with high miles so I not sure what the reliability of 328i sport wagon is or will be. We do have an X3 with low miles and still under warranty without any issues except for nail in run flat and dead battery.

What would u guys do/recommend in this situation?

Thanks


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## Ninong (May 20, 2014)

hdbmw said:


> What would u guys do/recommend in this situation?


*If* if want to purchase additional warranty coverage beyond the 4 years/50,000 miles BMW warranty, I would advise you to purchase coverage with BMW's name on it and not consider third-party coverage. That's Number One.

_If_ you decide to purchase this additional coverage, please be aware that you can purchase it from any BMW dealer close enough for you to drive there with your car because they must physically see your car in order to write the coverage. In other words, the price is negotiable, just like the selling price of a car is negotiable. Compare offers from more than one dealership. By the way, calling on the phone is the worst possible way to shop prices on something like this. You have to do it in person if you want the best possible outcome. Ask for the F&I Director or an F&I Manager. Don't forget that you push back on the price offers just as you would when negotiating the price of a car. That's the only way to arrive at the lowest price -- it's called competition.

Good luck! 

P.S. -- I have no opinion on whether you should purchase this coverage because that's entirely up to the individual.


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## Daybyday (Oct 28, 2015)

So I placed a custom order hoping to take advantage of holiday incentives however the dealership is now unable to provide a production number. They are saying it's due to restrictions BMW has placed on which models can be modified to a 328i manual for existing allocations. 

Apparently they've already put in the order but an additional approval from BMW is required before they can proceed. 

Does anyone have insight into these 'restrictions'? To be honest, I'm totally fine waiting for car, I'm just worried about losing incentives. 

Thanks


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## Ninong (May 20, 2014)

Daybyday said:


> So I placed a custom order hoping to take advantage of holiday incentives however the dealership is now unable to provide a production number. They are saying it's due to restrictions BMW has placed on which models can be modified to a 328i manual for existing allocations.
> 
> Apparently they've already put in the order but an additional approval from BMW is required before they can proceed.
> 
> ...


I don't believe that's what the dealer is telling you. What I think he is telling you is that he wants to modify one of his existing allocations to make it a MT, along with all of your other specifications, but BMW is not allowing him to do that. It could mean that there is a shortage of MTs or some other reason. In other words, he doesn't have a current allocation for a 328i MT, so he was trying to modify one of his existing allocations but was unsuccessful.

Your order is still in limbo.

P.S. -- Maybe he was trying to modify an entirely different model into a 328i MT and they don't allow that? The bottom line is that your dealer doesn't have a current allocation for a 328i MT so he has to wait for next month's allocations to come out and then you're running into the factory shutdown from just before Christmas till just after New Year's.


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## hdbmw (Nov 14, 2015)

So I got the bumper to bumper warranty issues worked out. I will be paying $710 for an additional 25k BB warranty from BMW with a $50 deductible after 50k. I will be picking up the car at the end of the week. I will try to get the contract a couple days before signing to review. Anything I should look out for or be concern about?


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## Ninong (May 20, 2014)

hdbmw said:


> So I got the bumper to bumper warranty issues worked out. I will be paying $710 for an additional 25k BB warranty from BMW with a $50 deductible after 50k. I will be picking up the car at the end of the week. I will try to get the contract a couple days before signing to review. Anything I should look out for or be concern about?


The contract will be printed up once you're there and actually taking delivery. That's not a problem and the way it's supposed to happen. By federal law, they're supposed to give you your copy to review prior to anyone signing anything. Take as long as you like to read it. I'm confident you are better informed now and there shouldn't be any difficulties. If you like, ask to read the additional warranty before you even begin reading the Owner's Choice finance contract. If anything is not clear to you, just ask. Remember, these are legal documents and absolutely everything is disclosed. There's nothing sneaky in there to be concerned about, as long as you understand what you're getting and what options are available to you when the balloon payment comes due.

I think you have everything ironed out now. Good luck!


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## hdbmw (Nov 14, 2015)

As I was getting ready to pick up my 328i black sports wagon today, another dealership I had contacted a few weeks ago called and offered a deal I couldn't refuse. For the exact same lease terms on a 2015 328i sports wagon fully loaded with about 10k miles for ~$11 dollars more a month. We drove there, loved the blue color and signed the deal. And apologized quite a bit to the other dealer. She was very helpful but a tough negotiator

The finance guy mentioned that I could save some money if I pay more each month than the required amount. If that is the case, can I just pay the amount off in one payment? How do I determine the amount I need to save on the finance charge. The payment is 698.96 for 36 months with a 4.09% interest on a financed amount of 49129.29.

It is a owner choice lease.

Thanks


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## hdbmw (Nov 14, 2015)




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## gohawks23 (Oct 27, 2008)

hdbmw said:


> I'll be proceeding with the owner's choice. The traditional lease in Chicago was $45 more per month. Disposition fee of $350. I believe the warranty will start from the date of delivery and from the miles already on the car. Thanks for the inputs.


In Chicago big differences on the below:

Lease
+, only pay sales tax (9.25 going to 10.25) on each lease payment
-, City requires additional 8% usage tax on lease payments
So lease payments in the city will require 18.25% in taxes starting next year!

OC
-, pay sales tax (9.25 going to 10.25) on the ENTIRE purchase price even though you will only have the car for a few years of its life...at least on a normal loan deal you can trade car and get sales tax credit when buying another at dealer (pay sales tax on differential)
+, no additional usage tax on payments
-, no MSD program

Neither is really great option compared to a 'normal' city/state...so unfortunately in the City of Chicago both these financing options stink...cash is best.


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