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      10-11-2018, 12:33 PM   #1
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First-time ordering - when do financing details happen?

So this will be my first time ordering a BMW, and I've read through the sticky post on ordering as well google searching, and one thing I can't find any info about is when the financing details take place. Obviously Step 2 talks about establishing the purchase price before you place the order, but at what stage do they pull your credit and run the details with BMWFS? I ask because I'm trying to get my score up a little bit more before the new year which could move me between the tiers, so if it happens when the order is placed my rate might be higher than if it happens before delivery. I was waiting for a December build, however after seeing posts on delays for Laser Lights and the cameras, I figured I should go ahead and get my order in as soon as I can.

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      10-11-2018, 01:06 PM   #2
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It probably depends somewhat on the dealer. Since we have worked with our CA on multiple leases over the years, he allowed us to order the X5 with no deposit. The lease paperwork will be completed on the day of delivery.

I've heard there are some dealers out there that require credit checks and deposits in order to place an order.
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      10-11-2018, 01:10 PM   #3
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You don't have to worry about financing until closer to delivery date. You can wait till the day before taking delivery to get financing in order, if you want. I usually do it a week or so before. Just make sure you shop around and know what rates you qualify for.

Also, most places let you lock in rates for a fixed number of days. BMWFS has 60 day lock, I believe. So, if you find a good rate and know with a great certainty when your car will get delivered, you can lock it and be ready.

And my CA said that BMWFS rates in December are usually the best of the year. But I have no past experience with BMWFS, so don't quote me.
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      10-11-2018, 03:33 PM   #4
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Quote:
Originally Posted by avengerboater View Post
You don't have to worry about financing until closer to delivery date. You can wait till the day before taking delivery to get financing in order, if you want. I usually do it a week or so before. Just make sure you shop around and know what rates you qualify for.

Also, most places let you lock in rates for a fixed number of days. BMWFS has 60 day lock, I believe. So, if you find a good rate and know with a great certainty when your car will get delivered, you can lock it and be ready.

And my CA said that BMWFS rates in December are usually the best of the year. But I have no past experience with BMWFS, so don't quote me.
Thank you for the info. Yes their rates seem to usually be better towards end of year, I bought my current F30 on Dec. 28th, 2013 and they seemed a lot more flexible with rates and pricing then.

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Originally Posted by ScottMZ3 View Post
It probably depends somewhat on the dealer. Since we have worked with our CA on multiple leases over the years, he allowed us to order the X5 with no deposit. The lease paperwork will be completed on the day of delivery.

I've heard there are some dealers out there that require credit checks and deposits in order to place an order.
Good to know, thank you. Yeah I've only briefly spoken with mine a few months back but haven't gotten down to the details, my understanding from research was typically $1k deposit.
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      10-12-2018, 09:08 AM   #5
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So if you're buying one with the Performance Delivery in Spartanburg, SC the purchase steps would be like this?
1) order car - spec it out - deposit of about $1,000 typically
2) 1 or 2 weeks before the car is ready in SC you go back to dealer finish the purchase - paperwork - financing - etc
3) wait for car to be ready - go to SC - pick it up and go w/o dealing with financials at all??
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      10-12-2018, 12:51 PM   #6
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Quote:
Originally Posted by ScottMZ3 View Post
It probably depends somewhat on the dealer. Since we have worked with our CA on multiple leases over the years, he allowed us to order the X5 with no deposit. The lease paperwork will be completed on the day of delivery.

I've heard there are some dealers out there that require credit checks and deposits in order to place an order.
Same here. Just ordered an X5 with no deal in place. If I don't like the deal they offer in December then I walk. If they require a deposit, it is fully refundable (at least in Florida).
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      10-12-2018, 01:49 PM   #7
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Quote:
Originally Posted by HODLM View Post
Quote:
Originally Posted by ScottMZ3 View Post
It probably depends somewhat on the dealer. Since we have worked with our CA on multiple leases over the years, he allowed us to order the X5 with no deposit. The lease paperwork will be completed on the day of delivery.

I've heard there are some dealers out there that require credit checks and deposits in order to place an order.
Same here. Just ordered an X5 with no deal in place. If I don't like the deal they offer in December then I walk. If they require a deposit, it is fully refundable (at least in Florida).
Yep, we go into the dealership on tomorrow to finish our paperwork at United BMW in Atlanta burbs.

Performance Delivery in SC for our 2019 X5 40i M Sport on next Thursday.

Dealer and I worked out the deal back in July when ordering, so this is just to finalize paperwork.
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      10-16-2018, 09:58 PM   #8
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We are scheduled for performance delivery in December. Part of the performance delivery email says "Accessories are unable to be installed at the BMW Performance Center. Some accessories can be installed at the port prior to the vehicle being transported to our facility. Please check with your BMW Client Advisor for information and pricing on accessories for your new BMW."

Unfortunately my CA doesn't really know what the accessory options are. Does anyone know what port installed accessories are available for the X5?
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      10-17-2018, 01:10 AM   #9
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Quote:
Originally Posted by bimmer2019 View Post
We are scheduled for performance delivery in December. Part of the performance delivery email says "Accessories are unable to be installed at the BMW Performance Center. Some accessories can be installed at the port prior to the vehicle being transported to our facility. Please check with your BMW Client Advisor for information and pricing on accessories for your new BMW."

Unfortunately my CA doesn't really know what the accessory options are. Does anyone know what port installed accessories are available for the X5?
None yet.
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      03-16-2023, 08:11 PM   #10
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Typically, the financing details are established and credit is pulled during the time of delivery. It's always best to check with the dealership or BMW Financial Services to confirm their specific process. In the meantime, it's a great idea to work on improving your credit score before taking out a loan. You might want to consider speaking with a financial advisor or a credit specialist at a company like The Finity Group to help you optimize your credit profile and improve your chances of securing favorable financing terms.

Last edited by neomahauck; 03-26-2023 at 02:54 PM..
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      03-16-2023, 08:23 PM   #11
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Quote:
Originally Posted by neomahauck View Post
Typically, the financing details are established and credit is pulled during the time of delivery.
Umm, you may want to pay closer attention to post dates.

You just replied to a post & thread from 2018.

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      03-16-2023, 11:52 PM   #12
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