Bmw financial loan app results

[micvite]

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@Loquat wrote:
Congrats on getting it all worked out. I’m sure 5 months will seem long but it’ll be right in time for Christmas so what a way to kick off the holiday season.

And yes, please be sure to post pictures if you’d like. If for some reason the thread gets closed please send me a PM and I will be sure to unlock it so that you can post an update.

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Funny enough... they damaged the car at the port in Nov... had to order a new one that will get here hopefully by march.

[ToughFistFight]

Womp womp. 

Thats a bummer.  Cant wait to see pics. 

[Reviewers]

Ouch, sorry to hear that it got damaged at port! You are going to love your M5C though, I have a X5MC and I absolutely love it.

[Creditplz]

Congrats!?

I got a M8 Comp a on 11/26, max MSD (just to save some $) through my lease broker..

but I got to say I'm shocked it got approved. 

next time, try contacting a broker, they can find you a M5CS in minutes and approved/delivered same day.. I sold my S580 for it.... now I want a 992 TurboS after getting burned by one 😖

[micvite]

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@Creditplz wrote:

Congrats!?

I got a M8 Comp a on 11/26, max MSD (just to save some $) through my lease broker..

but I got to say I'm shocked it got approved. 

next time, try contacting a broker, they can find you a M5CS in minutes and approved/delivered same day.. I sold my S580 for it.... now I want a 992 TurboS after getting burned by one 😖

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Whats max MSD mean? And I didn't want a cs lol and brokers can be dangerous to work with. I wanted an m5 competition with the options I wanted which would have been something that needed custom ordering, and I want a car that I 100% know wasn't molested even if no one drove it (revved for fun) since I plan to keep it. Honestly the brokers I did call told me the options I wanted couldn't be done and were quoting me 8-10k for a warranty I ended up getting for 4k at the dealership. All in all a broker is just a middleman that works with a dealership so you gotta realize whatever deal they're giving you means you left money on the table with that particular dealership. And in the likely event (in this market) that someone offers to buy the car at msrp or over there is nothing preventing the dealership to not give the car to the broker (which has happened to me in the past)

[Creditplz]

Multiple security deposits, I always view it from the standpoint of, whenever I go into a dealer and want a lease... I can never ever come close to what a broker can offer me. (I've bought about 30 cars in the last 7 years if we include business vehicles), just picked up a 530i). 

A buddy of mine is a GM at a stand alone Lexus dealership and he's also my neighbor always says the volume the broker brings to the dealership the more they're willing to play.. luckily im in SoCal so I know my broker has lots of volume. 

but congrats!!! And I agree with you I was scared the first time I gave a broker all my info... but we are friends 9 years now! 

[micvite]

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@Creditplz wrote:

Multiple security deposits, I always view it from the standpoint of, whenever I go into a dealer and want a lease... I can never ever come close to what a broker can offer me. (I've bought about 30 cars in the last 7 years if we include business vehicles), just picked up a 530i). 

A buddy of mine is a GM at a stand alone Lexus dealership and he's also my neighbor always says the volume the broker brings to the dealership the more they're willing to play.. luckily im in SoCal so I know my broker has lots of volume. 

but congrats!!! And I agree with you I was scared the first time I gave a broker all my info... but we are friends 9 years now! 

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Ah, I don't do leases so I'm not versed in the terminology lol I'd go over mileage within a few months of owning the car. But from a financing standpoint as long as the market isn't completely messed up like it is now, generally you can get the same if not better deal by shopping around since the power to buy is with the buyer, now it's a sellers market so everyone can charge whatever they want and they'll get it because of supply and demand. In my case for an m5, the norm was around 3-5% off msrp, with a great deal being 7% off plus rebates and a bad deal being msrp. It went from that to 1-3% off being an amazing deal msrp being a good deal and the norm being 5-10k over sticker lol. Even brokers weren't offering anything other than msrp because allocations were so scarce and because others were charging mark ups so they figured they'd just do msrp and get more money off people. The few I spoke to after I told them I'd just go to the dealership if it's gonna be msrp immediately came back and offered me 2-3% off which honestly pissed me off because if they could've done that from the beginning they should have so ended up with the dealership anyway (a few thousand over a 6 year loan means nothing to me, it's the principal of you tried to take me for a fool that I don't like). Like you said having a relationship of consistency is the way to go. 

[TakeHomeCredit]

Sooooooo, did you get the car?

Would love to see some pictures after reading this thread in April 20203!

[fury1995]

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@TakeHomeCredit wrote:

Sooooooo, did you get the car?

Would love to see some pictures after reading this thread in April 20203!

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@TakeHomeCredit .. @micvite did get approved but the car was delayed/re-ordered because of damage to the original build/unit. I don't know if he took delivery ... but was approved then with $25K down..

[micvite]

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@fury1995 wrote:

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@TakeHomeCredit wrote:

Sooooooo, did you get the car?

Would love to see some pictures after reading this thread in April 20203!

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@TakeHomeCredit .. @micvite did get approved but the car was delayed/re-ordered because of damage to the original build/unit. I don't know if he took delivery ... but was approved then with $25K down..

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Yeah, I took delivery April 25th 2022, sadly hit an animal on the highway July 7th 2022 and totalled the car after losing control. Currently about to take delivery of my 2023 bmw and I'll post some pics of that one when I get it if you want. Funny enough when I placed the order they still were capping me at 145k for the loan. Well since then my credit score went from 720 to 650 and my wife's from 750 to 600 and now I'm approved for 170k, (on my 183k car) so apparently if you want a bmw you want the lowest score imaginable 😂