Feb 2022- Big Rate Jump

elkid23 · 02-01-2022, 08:38 AM

Looks like BMW is bumping financing to 2.49% APR.

Pretty steep hike considering rates were just 0.9% a few months ago!! Crazy.

Grrveer · 02-01-2022, 08:40 AM

😬😬

I have an estimated build week of week 12, wonder what the rates will be whenever the car actually arrives 🤦*♂️.

chicagofan00 · 02-01-2022, 08:45 AM

Quote:

Originally Posted by elkid23

Looks like BMW is bumping financing to 2.49% APR.

Pretty steep hike considering rates were just 0.9%!! Crazy.

To be some what fair, it was bumped to 1.9 last month from the .9 in December and earlier. Still over just a couple of months is a decent bump.

elkid23 · 02-01-2022, 08:49 AM

Quote:

Originally Posted by chicagofan00

To be some what fair, it was bumped to 1.9 last month from the .9 in December and earlier. Still over just a couple of months is a decent bump.

That's fair--edited to be more clear

djpapeleta · 02-01-2022, 08:50 AM

I think at this point it would be best to shop around lowest rates. PenFed is 1.79 right now.

2022M4COMP · 02-01-2022, 08:56 AM

Quote:

Originally Posted by djpapeleta

I think at this point it would be best to shop around lowest rates. PenFed is 1.79 right now.

Was 1.49 last month

vj123 · 02-01-2022, 09:13 AM

1.9% was ok but people are going to look elsewhere with this update.

KnightedBMW · 02-01-2022, 09:15 AM

Ouch.

Ibiza · 02-01-2022, 09:35 AM

With the higher borrowing/finance cost, it's going to be a tougher sell now for MAP that centers are adding on. Soon this runaway train will have a crashing wrek, as all markets are cynical.

modat · 02-01-2022, 10:08 AM

Quote:

Originally Posted by Ibiza

With the higher borrowing/finance cost, it's going to be a tougher sell now for MAP that centers are adding on. Soon this runaway train will have a crashing wrek, as all markets are cynical.

Don't forget about those dealerships that have a MAP and a point added to the interest rate

abdulisraddd · 02-01-2022, 10:11 AM

anyone know mf and residual for this month?

'Cane · 02-01-2022, 10:11 AM

My 0.9% rate lock expired and my car is still parked in a lot next to the plant, wonder what the rate will be if the car ever shows up. At this point I may look elsewhere.

elkid23 · 02-01-2022, 10:19 AM

Quote:

Originally Posted by 'Cane

My 0.9% rate lock expired and my car is still parked in a lot next to the plant, wonder what the rate will be if the car ever shows up. At this point I may look elsewhere.

That's a shame, but if you're that close, why not reach out to your CA and see if your dealership can speak with BMW FS about an extension for the 0.9? Worth a shot

'Cane · 02-01-2022, 10:30 AM

Quote:

Originally Posted by elkid23

That's a shame, but if you're that close, why not reach out to your CA and see if your dealership can speak with BMW FS about an extension for the 0.9? Worth a shot

Close to what? The car is still in Germany, parked. And, he's already told me he can't.

geim9000 · 02-01-2022, 10:36 AM

Quote:

Originally Posted by 'Cane

My 0.9% rate lock expired and my car is still parked in a lot next to the plant, wonder what the rate will be if the car ever shows up. At this point I may look elsewhere.

My CA told me yesterday that every BMW dealership has 90 days from when they placed an order to get back older money factos and APR without getting approval from BMW, and if it surpasses the 90 day period, they need to go to BMW corporate, but still said it wasn't a problem. Had a client that took 5 months for his car to be delivered, and was able to secure the deal he locked in 5 months prior.

When did you place your order?

modat · 02-01-2022, 10:36 AM

My dealership insisted that they will get me the 0.9% since it was locked in when I ordered the car. Lets see if/how they deliver when the time comes.

I am going to lock in my rate with USAA in the meantime. Waiting for my car to get on a boast. I dont want to be left hanging last minute.

JDUNITNOW · 02-01-2022, 10:48 AM

knew this was going to be a issue and ordered my car in June of last year. Glad my wife pushed me to do it and if I didn't say f you to initial dealer and go to other dealership across town, I would still not have my car. I had a feeling 22 was going to shit in a hand basket.

Vishal50028 · 02-01-2022, 10:48 AM

I use a bmw Mastercard for most of my overall purchases. The cash back I get will go to statement credits to pay my interest. It helps

Ibiza · 02-01-2022, 10:59 AM

Quote:

Originally Posted by modat

Quote:

Originally Posted by Ibiza

With the higher borrowing/finance cost, it's going to be a tougher sell now for MAP that centers are adding on. Soon this runaway train will have a crashing wrek, as all markets are cynical.

Don't forget about those dealerships that have a MAP and a point added to the interest rate

Just need the stock market to have a major correction next and there goes all the paper wealth that M customers didn't mind paying the $5k MAP.

On a postive note, the higher interest rate should thin out the waiting list.

Highflyingbimmer · 02-01-2022, 11:06 AM

Quote:

Originally Posted by modat

My dealership insisted that they will get me the 0.9% since it was locked in when I ordered the car. Lets see if/how they deliver when the time comes.

I am going to lock in my rate with USAA in the meantime. Waiting for my car to get on a boast. I dont want to be left hanging last minute.

Yea we are in the same spot so to speak. I am waiting for my car to get on a boat too. I just reached out to my dealer in MN to ask if they will honor the rate as the order was accepted back in November. USAA has a good rate but I am not able to get a membership though. We will see how the dealer answers.

50shadesofhockenheim · 02-01-2022, 11:11 AM

Quote:

Originally Posted by Vishal50028

I use a bmw Mastercard for most of my overall purchases. The cash back I get will go to statement credits to pay my interest. It helps

Can you pay BMW FS monthly payments with a debit card?

Vishal50028 · 02-01-2022, 11:17 AM

Quote:

Originally Posted by 50shadesofhockenheim

Can you pay BMW FS monthly payments with a debit card?

Not sure. I don't have the account yet but will use my rewards to go toward payments when I get the car. I haven't had a bmw fs account since I paid off my 335

02-01-2022, 08:38 AM	#1
elkid23 Second Lieutenant 267 Rep 274 Posts Drives: BG G80 Join Date: Oct 2012 Location: North Jersey iTrader: (0)	Feb 2022- Big Rate Jump Looks like BMW is bumping financing to 2.49% APR. Pretty steep hike considering rates were just 0.9% a few months ago!! Crazy. Last edited by elkid23; 02-01-2022 at 08:48 AM..
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02-01-2022, 08:40 AM	#2
Grrveer Private First Class 88 Rep 169 Posts Drives: 2020 M2C (sold) 2018 M2 (sold) Join Date: Jul 2017 Location: Bay Area, CA iTrader: (0)	😬😬 I have an estimated build week of week 12, wonder what the rates will be whenever the car actually arrives 🤦*♂️.
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02-01-2022, 08:50 AM	#5
djpapeleta First Lieutenant 261 Rep 375 Posts Drives: G83 Join Date: Nov 2017 Location: Montclair, VA iTrader: (0)	I think at this point it would be best to shop around lowest rates. PenFed is 1.79 right now.
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02-01-2022, 09:13 AM	#7
vj123 Brigadier General 3797 Rep 3,626 Posts Drives: 2022 M3c - sold Join Date: Mar 2015 Location: The Detroit iTrader: (0)	1.9% was ok but people are going to look elsewhere with this update.
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02-01-2022, 09:15 AM	#8
KnightedBMW Lieutenant Colonel 2347 Rep 1,751 Posts Drives: 2022 M3C Join Date: May 2016 Location: Florida iTrader: (0)	Ouch.
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02-01-2022, 09:35 AM	#9
Ibiza Colonel 3650 Rep 2,869 Posts Drives: 22 G83 comp & 2024 X5 M60 Join Date: Mar 2011 Location: On the run.... iTrader: (0)	With the higher borrowing/finance cost, it's going to be a tougher sell now for MAP that centers are adding on. Soon this runaway train will have a crashing wrek, as all markets are cynical. __________________ 2022 G83 PCD & 2024 G05 S68 PCD Retired:2021 F95 ZCP PCD,2018 F85 PCD,2018 F83 ZCP- ED/PCD, 2015 X5 50i PCD, 2015 435 vert ED, 2011 X3 PCD, 2011 335is vert ED/PCD, 2007 X3is PCD, 2007 335i vert PCD, 2004 328i vert PCD
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02-01-2022, 10:11 AM	#11
abdulisraddd Second Lieutenant 297 Rep 258 Posts Drives: 2023 G82 X Dravit Join Date: Oct 2021 Location: Los Angeles CA iTrader: (1)	anyone know mf and residual for this month?
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02-01-2022, 10:11 AM	#12
'Cane Major General 8733 Rep 5,451 Posts Drives: 2022 Aventurin/SS G82 xDrive Join Date: Feb 2007 Location: South Florida iTrader: (0) Garage List 2022 M4 Comp AWD [8.00]	My 0.9% rate lock expired and my car is still parked in a lot next to the plant, wonder what the rate will be if the car ever shows up. At this point I may look elsewhere.
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02-01-2022, 10:36 AM	#16
modat Lieutenant Colonel 2470 Rep 1,740 Posts Drives: 2022 IOMG M3 Xdrive Join Date: Feb 2014 Location: NJ iTrader: (0)	My dealership insisted that they will get me the 0.9% since it was locked in when I ordered the car. Lets see if/how they deliver when the time comes. I am going to lock in my rate with USAA in the meantime. Waiting for my car to get on a boast. I dont want to be left hanging last minute.
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02-01-2022, 10:48 AM	#17
JDUNITNOW Colonel 3596 Rep 2,392 Posts Drives: BMW 335I, 750li, X5 G80 Join Date: Sep 2019 Location: Glen Allen, Virginia iTrader: (0)	knew this was going to be a issue and ordered my car in June of last year. Glad my wife pushed me to do it and if I didn't say f you to initial dealer and go to other dealership across town, I would still not have my car. I had a feeling 22 was going to shit in a hand basket. __________________ Formerly Wyndi335I 2009 BMW 750li sold 14 BMW X5 04 BMW X5 11 BMW 335i convertible (sold, sellers market
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02-01-2022, 10:48 AM	#18
Vishal50028 Banned 1419 Rep 1,043 Posts Drives: 2022 M4 Competion RWD Join Date: Jan 2022 Location: Melbourne, Floriduh iTrader: (0)	I use a bmw Mastercard for most of my overall purchases. The cash back I get will go to statement credits to pay my interest. It helps
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