[Marty in NY]

FYI.. .. Just received this email from Fields BMW of Daytona FL.

Your Fields BMW of Daytona family is now offing a variety of options to accommodate your shopping needs.
During the month of April we will offer the following services:

• Online trade appraisals
• Remote test drives (we will bring the vehicle to you)
• Valet delivery service, at no charge, for your new car!
• Free Cilajet Anti-Microbial fogging on all purchases https://www.fieldsbmwofdaytona.com/fogger.ht

There are also amazing factory incentives and Fields discounts on all New BMW's, including:

• 1.99% APR on all 2016, 2017, and 2018 Certified Pre-Owned vehicles for a limited time with approved credit!
• All purchased through BMW Financial Services with approved credit have no payments for 90 days!

There has never been a better time to buy. Our selection of New and Pre-Owned cars is unparalleled.

We are open and here for you in Sales and Service at Fields BMW of Daytona.

Call for details.

Sincerely,

Fields BMW of Daytona
386-274-1200

Kathryn Stater
Business Development Manager
FIELDS AUTO GROUP
kathryn.stater@fieldsauto.com
904-562-4315

[Heavyd]

Well, I hope the plants reopen first worldwide
And maybe then they can spare a moment to produce mine

[Np2014]

Hopefully Bmw increases the cash offer incentives dramatically for April and beyond.

[Marty in NY]

Originally Posted by Np2014

Hopefully Bmw increases the cash offer incentives dramatically for April and beyond.

The way I take the email from Fields is that its a Dealer initiated incentive for inventory on their lot...nothing more. Possibly other dealers will follow with their own incentives which is why I posted this, so we can all be on the lookout.

[Np2014]

Hopefully they will have large cash offer incentives on custom ordered vehicles also and not just for ones sitting on the lot for months.

[Dataready]

Originally Posted by Np2014

Hopefully Bmw increases the cash offer incentives dramatically for April and beyond.

For April 2020, BMWFS decreased the loyalty incentive by $ 250.00, then to add insult to injury, they reduced the RV from 56% to 55% for 12K lease. The only good thing they did correctly was a decrease of money factor from 0.00142 to 0.00118 which will not make up for the other two drops. What are they thinking at BMWFS???

[Marty in NY]

Originally Posted by Dataready

For April 2020, BMWFS decreased the loyalty incentive by $ 250.00, then to add insult to injury, they reduced the RV from 56% to 55% for 12K lease. The only good thing they did correctly was a decrease of money factor from 0.00142 to 0.00118 which will not make up for the other two drops. What are they thinking at BMWFS???

BMW just, like in the last day or so, lowered their loan % rate from 2.99 to 2.49% (depending on your zip code) and are offering a 90 delay in making your first payment. That's about all I've seen out of them so far. However, its all directed towards moving vehicles off dealer lots since the 90 day period currently ends June 30. Not much of an incentive because the far majority of those are without Merino, Laser lights, air suspension and are black or white.

.

[Tenac]

Originally Posted by Marty in NY

FYI.. .. Just received this email from Fields BMW of Daytona FL.

Your Fields BMW of Daytona family is now offing a variety of options to accommodate your shopping needs.
During the month of April we will offer the following services:

• Online trade appraisals
• Remote test drives (we will bring the vehicle to you)
• Valet delivery service, at no charge, for your new car!
• Free Cilajet Anti-Microbial fogging on all purchases https://www.fieldsbmwofdaytona.com/fogger.ht

There are also amazing factory incentives and Fields discounts on all New BMW's, including:

• 1.99% APR on all 2016, 2017, and 2018 Certified Pre-Owned vehicles for a limited time with approved credit!
• All purchased through BMW Financial Services with approved credit have no payments for 90 days!

There has never been a better time to buy. Our selection of New and Pre-Owned cars is unparalleled.

We are open and here for you in Sales and Service at Fields BMW of Daytona.

Call for details.

Sincerely,

Fields BMW of Daytona
386-274-1200

Kathryn Stater
Business Development Manager
FIELDS AUTO GROUP
kathryn.stater@fieldsauto.com
904-562-4315

This is very similar to my dealer here in AZ. They offered to pick up my X3 nail in the tire but I had an appointment near by so I drove in anyway. The way they are handling the interaction behind Plexiglas shields and gloves and cleaning wipes, hand sanitize impressed me. They have a tag to make sure they clean the vehicles before taking and handing back over to me. The deals though for them are just whats on the lot and nothing from mother BMW has been sent for them to do more yet.

[Np2014]

Disappointed BMW didn't offer any major increases in the cash back incentives for April purchases.

[GSG5]

Pretty surprised - shocked actually - that the loyalty credit actually went down by $250 for April. I just don’t get that at all.

[Marty in NY]

Originally Posted by Np2014

Disappointed BMW didn't offer any major increases in the cash back incentives for April purchases.

It would appear BMW is just taking this opportunity to clear dealer inventory. BMW being a premium brand, sells to mostly the affluent, the virus is mostly impacting the finances of the non affluent and BMW understands this. I have no clue what the likes of Mercedes, Audi, Porsche, Range Rover, etc are doing but as we have seen for years, the good incentives are not normally on the luxo brands.

[Marty in NY]

Here's a general article about dealerships and what they're up against. It makes no mention of BMW or premium brands.
https://www.yahoo.com/news/car-deale...133023340.html

[Pictor]

What we don't know is if BMW has extended incentives directly to the dealers. I suspect that's the case since factories are closed and consumer incentives are generally used to help maintain production at efficient levels. Here, they're trying to support their distribution channels for when factories open up again.

[MIT_X5]

The pandemic is hurting automakers' (especially luxury brands) bottom line in a major way. I would not be surprised if BMW cuts the APR to 1.99% or lower and come up with greater cash back incentives in the near future. Just hold out for a bit longer and I'm certain BMW will eventually budge.

[mnx5er]

Very interesting challenge for BMW. Inventory of X5s vary and they aren't being made. So how much does BMW support selling X5s when they cannot make more of them? Dealers meanwhile need cashflow. I'm not smart enough to know how this will play out.

[floridaman100]

Originally Posted by Marty in NY

BMW just, like in the last day or so, lowered their loan % rate from 2.99 to 2.49% (depending on your zip code) and are offering a 90 delay in making your first payment. That's about all I've seen out of them so far. However, its all directed towards moving vehicles off dealer lots since the 90 day period currently ends June 30. Not much of an incentive because the far majority of those are without Merino, Laser lights, air suspension and are black or white.

.

BMW really needs to offer this 2.49% for 72 months. This rate is only good for up to 60 month loans through BMW Financial.

[Pictor]

Do people really do 72 month terms on car loans? How long do you keep the car after it's paid off?

[doctorttt]

Originally Posted by Pictor

Do people really do 72 month terms on car loans? How long do you keep the car after it's paid off?

I actually kept my previous car for 6 years but only did a 36-month term financing.

[buckybadger]

There will be poor discounts in future for sometime. BMW would want to recuperate the losses.

[MIT_X5]

Originally Posted by buckybadger

There will be poor discounts in future for sometime. BMW would want to recuperate the losses.

It would be extremely difficult for BMW to recuperate the losses when there is a significant decline in demand.

[Resjudicata]

Originally Posted by Pictor

Do people really do 72 month terms on car loans? How long do you keep the car after it's paid off?

I had my prior car for 7 years, but like the guy above, it was a 3 year loan. It's crazy but some people take big loans. Ferrari offered me a 148 month lease or loan on a new one. You would have to keep your car almost 2 decades to make that worthwhile.

[parkstr8]

From the dealer manager (which I recently cancelled my 2020 purchase trading my 18 with 6000 miles), his X5s are not a fast moving vehicle. Which surprised me. And he stated no one wants to buy them, only lease. The lower Xs are moving and the X7, but not the 5.

The one I was looking at was loaded, had 520 miles, and a 13k discount.

The new average loan length for all cars is 72 months. I personally have never kept a car longer than 2 years or so, having had 68 total. So knowing i will lose money, i finance based on when I think I will ditch it.

But as I'm now 55, I am less concerned about trading every 6 months or year, and more about just driving what I love - for a longer period.

With Covid, many makers are offering 0% for 72 to 84 months, plus massive incentives. So with the hit we've all taken, financing a car at little to no interest (at least until we know where we all stand when this has passed) is not a bad thing. A zero interest loan is better than writing a big check on a depreciating asset. They still make profit, just not on the loan.

The 90-day to 6 month no payment thing has an understandable appeal to those with impacted monthly income, but it just defers the balance by that time frame. And if one is concerned about the residual or break even, it just extends that by that time.

I'm holding out (that X5 i wanted has still not sold) to see if they go to lower on interest. I have a feeling they will.