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BMW Credit Tiers

Camarejh
New Member

Re: BMW Credit Tiers


@DarkKnight_Credit wrote:

@Camarejh wrote:

Wow they made you get a warranty for a percentage drop? You should have told them no and walked out. They would have called you back to come get it. With a 750 you should have been top tier for bmwfs. What year is the z4? Was it CPO? For reference i just got an 18 M5 CPO with a 700 score on their standard tier financing and got 3.9. If i had a 750 i would have got 2.9. 


Yep Smiley Sad

 

Thank for the reference and nice car you got! Well according to them, mine's was plantinum. Which is higher than Super Elite Plus and it's a new tier that they recently added. It's the highest, so they say. I was also told that plantinum is only for those with 800+ scores. I couldn't get 84 months without a platinum tier. The reason why they gave me platinum is because a mistake was made on their end: They calculated the costs based on a 800+ score.

 

It's not CPO. It's a 2022 year that was shipped from Germany.

 

But yeah, I should've walked out, because I knew they would've made a better deal with me, especially with the amount I put down for the car. I guess I was just too excited when I saw the car arrived.

 

The only reason I don't feel too bad is because I enjoy the car a lot and I can handle the payments. But I want to be a better negotiater next time Smiley Happy


Wow it was brand new also?! Which means it already comes with a warranty!!!! You shouldnt have bought the extended. I mean you got an awesome car especially that its brand new. So bmwfs can approve you for their top tier which you got and you probably got .9 or 1.9 (whichever is the current advertised)then the dealer can add an extra point or two in order to make more money on the deal for the dealer themselves. More money for the dealer more commission for the salesman. He made you buy a warranty for a car that already comes with a warranty. I believe factory warranty is 36 month 36000 miles. 

Message 31 of 45
Camarejh
New Member

Re: BMW Credit Tiers


@DarkKnight_Credit wrote:

@NoMoreE46 wrote:


Currently I see that BMW FS is Advertising 0.9 % which is what we got back in June.  


I'm glad you brought this up, because I've asked about that as well during the negotiation. I was told that anything around %1 and lower is only given to those who's only willing to finance the car around 1-2 years.


Also not true. Before the m5 i had a 22 M3 on order and was approved for 60 months at .9 percent with a 700 score. I got exactly what was advertised. Kept waiting on an allocation to pop up and waited months then cancelled and bought a CPO used M5. Just depends on the moral code of the dealer and the salesman. My saleswoman was awesome. She just ran the app and showed me the black and white from bmwfs showing .9 for 60 mos. it was a quick in and out. When i went back in and cancelled and got the m5 it was just as quick. I walked in at 9am and left by 945 after i finished my complimentary cup of coffee and eating as much of their little snacks as i could. Also to a couple of sodas for the road lol

Message 32 of 45
Joro2819
New Visitor

Re: BMW Credit Tiers

That's not true... 0.9 is up to 60 months. The finance manager lied to you and its unethical. Based on your credit score, you should of qualified for that rate and not be required to purchase a warranty. 1.9 for 72 months.

Message 33 of 45
DarkKnight_Credit
Valued Member

Re: BMW Credit Tiers


@Camarejh wrote:


Wow it was brand new also?! Which means it already comes with a warranty!!!! You shouldnt have bought the extended. I mean you got an awesome car especially that its brand new. So bmwfs can approve you for their top tier which you got and you probably got .9 or 1.9 (whichever is the current advertised)then the dealer can add an extra point or two in order to make more money on the deal for the dealer themselves. More money for the dealer more commission for the salesman. He made you buy a warranty for a car that already comes with a warranty. I believe factory warranty is 36 month 36000 miles. 


Well I was told that there's a warranty that comes with it, but I was told to get the extended warranty, which added up to around 14K (I believe) just so I can get a better interest rate down to 3.59%. So maybe the finance manager was lying?

 

According to him, the whole process was them trying to get me pre-approved for the car before sending it out to BMWFS. After I agreed, I went out to get my checkbook and write the down payment. When I came back to the office, I was approved immediately and had the contract placed on the desk. He told me that all he had to do was tell one of the persons that he works with all the time at BMWFS to approve me and that's it. I felt it was way to easy when I was there. I didn't realize they had connections like that. That's when I knew I could've gotten a way better deal and it's been on my mind for a while. That's why I've been asking around everyone's thoughts here.

Message 34 of 45
DarkKnight_Credit
Valued Member

Re: BMW Credit Tiers


@Camarejh wrote:

Also not true. Before the m5 i had a 22 M3 on order and was approved for 60 months at .9 percent with a 700 score. I got exactly what was advertised. Kept waiting on an allocation to pop up and waited months then cancelled and bought a CPO used M5. Just depends on the moral code of the dealer and the salesman. My saleswoman was awesome. She just ran the app and showed me the black and white from bmwfs showing .9 for 60 mos. it was a quick in and out. When i went back in and cancelled and got the m5 it was just as quick. I walked in at 9am and left by 945 after i finished my complimentary cup of coffee and eating as much of their little snacks as i could. Also to a couple of sodas for the road lol


No way! lol. I should've done better. Do you think I could've probably got a better rate by applying directly to BMWFS, instead of going through the dealership?

Message 35 of 45
Camarejh
New Member

Re: BMW Credit Tiers

Bmwfs would have auto approved you online but since your salesman or sales manager has no moral compass he would have bullshat you saying he would have to run your app again with the car attached to it because its happened to my friend and he went to another dealer and they honored his approval at the interest rate. 

Message 36 of 45
Camarejh
New Member

Re: BMW Credit Tiers


@DarkKnight_Credit wrote:

@Camarejh wrote:

Also not true. Before the m5 i had a 22 M3 on order and was approved for 60 months at .9 percent with a 700 score. I got exactly what was advertised. Kept waiting on an allocation to pop up and waited months then cancelled and bought a CPO used M5. Just depends on the moral code of the dealer and the salesman. My saleswoman was awesome. She just ran the app and showed me the black and white from bmwfs showing .9 for 60 mos. it was a quick in and out. When i went back in and cancelled and got the m5 it was just as quick. I walked in at 9am and left by 945 after i finished my complimentary cup of coffee and eating as much of their little snacks as i could. Also to a couple of sodas for the road lol


No way! lol. I should've done better. Do you think I could've probably got a better rate by applying directly to BMWFS, instead of going through the dealership?


You know it is what it is. You still got a low interest rate for 84 months and you never have to worry about your car breaking because your covered. Look at the positive. Do you love the car? Hell yes you do. Your car breaks? Who cares your covered! Enjoy it in good health and with a good piece of mind that your covered! 

Message 37 of 45
DarkKnight_Credit
Valued Member

Re: BMW Credit Tiers


@Camarejh wrote:


You know it is what it is. You still got a low interest rate for 84 months and you never have to worry about your car breaking because your covered. Look at the positive. Do you love the car? Hell yes you do. Your car breaks? Who cares your covered! Enjoy it in good health and with a good piece of mind that your covered! 


True! I love the car. It's amazing. I have no regrets on buying this car. I'm still stunned to this day that the amazing technology this car has. It's why I chose it over the Porsche Boxter. It's definitey a dream car I've always wanted to get my hands on since I saw it the day it first was released in 2019. The good thing, is that I'm already planning to pay it off before 3 years. Thanks for the encouragement!

Message 38 of 45
Camarejh
New Member

Re: BMW Credit Tiers


@DarkKnight_Credit wrote:

@Camarejh wrote:


You know it is what it is. You still got a low interest rate for 84 months and you never have to worry about your car breaking because your covered. Look at the positive. Do you love the car? Hell yes you do. Your car breaks? Who cares your covered! Enjoy it in good health and with a good piece of mind that your covered! 


True! I love the car. It's amazing. I have no regrets on buying this car. I'm still stunned to this day that the amazing technology this car has. It's why I chose it over the Porsche Boxter. It's definitey a dream car I've always wanted to get my hands on since I saw it the day it first was released in 2019. The good thing, is that I'm already planning to pay it off before 3 years. Thanks for the encouragement!


Im a huge BMW fan. Ive owned 6. If you take care of them they will take care of you. You hear horror storries of bmws always breaking. I had an e39 m5 that i took to 245000 miles. Small issues but things that just wore out with age so it was expected. My F80 M3 i put 70,000 hard hard miles on it. 1 issue. Intercooler pump went out. 400 dollar fix. Thats it. My wife drives an 11 X5M and it has 125000 miles on it. Ive changed the battery and the turbo feed lines were leaking. Again it was expected. Had an E46 M3 and took it to 138000 miles. Literally no issues besides a headlight going out. I keep up on the maintenance and kee them clean and they love me back. The newer ones are even better! The new tech is absolutely amazing and jealous you have all that! 

Message 39 of 45
DarkKnight_Credit
Valued Member

Re: BMW Credit Tiers


@Camarejh wrote:


Im a huge BMW fan. Ive owned 6. If you take care of them they will take care of you. You hear horror storries of bmws always breaking. I had an e39 m5 that i took to 245000 miles. Small issues but things that just wore out with age so it was expected. My F80 M3 i put 70,000 hard hard miles on it. 1 issue. Intercooler pump went out. 400 dollar fix. Thats it. My wife drives an 11 X5M and it has 125000 miles on it. Ive changed the battery and the turbo feed lines were leaking. Again it was expected. Had an E46 M3 and took it to 138000 miles. Literally no issues besides a headlight going out. I keep up on the maintenance and kee them clean and they love me back. The newer ones are even better! The new tech is absolutely amazing and jealous you have all that! 


lol that's a ton BMW cars you've owned! I fell in love with this car, so I'm now a fan. I'll be sticking with this brand in the future. That's good that you've been maintaining your cars. I didn't know that BMW can last that long. I did hear horror stories about BMW's breaking. I think one of the main complaints I also hear was the cost of on the maintence on BMWs.

Message 40 of 45
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