Quote:
Originally Posted by Presplan
Was told my car should be arriving soon, hopefully, and started discussion with the finance manager. Was told that BMWFS has an 80/20 rule on how much you are allowed to put down and how much you have to borrow. You are only allowed to put down up to 20% of the MSRP amount. So if the car has an MSRP of $100,000 you can only put down the maximum of $20,000 and have to finance $80,000 (not taking into account any taxes, fees, etc in example). After you receive your first bill, you can pay off any principal balance but need to leave at least $10,000 of a balance for 3 months. And then you can pay it off anytime thereafter. This is what is needed to qualify for the $750 loyalty credit. Does anyone have further experience with this as I never heard of this rule before. Thanks.
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Our car just arrived last night and picking it up tomorrow. Waiting on a call from the finance mgr, however we have a trade in that is much more than a 20% downpayment. I'll let you know if this 80/20 comes up. Last car I bought with BMW FS was back in 2019 with a 30-35% down payment so this is news to me...