[Gdfein]

Anyone take delivery of 2024 X7 in July and if so what financing rate was bmwfs offering?

[BimmerBud]

With the FEDs interest rate increase yesterday, has anyone learned whether BMW is immediately increasing their rates?

I looked at BMWs financing offers website and I can no longer find a published interest rate offer, whereas the last time I looked last week it displayed 4.99%

I have an appointment at a dealer today to build and order a X7 and trying to anticipate whether I’ll get a “oh sorry, rates went up” pitch…

[EWL5]

Originally Posted by BimmerBud

With the FEDs interest rate increase yesterday, has anyone learned whether BMW is immediately increasing their rates?

I looked at BMWs financing offers website and I can no longer find a published interest rate offer, whereas the last time I looked last week it displayed 4.99%

I have an appointment at a dealer today to build and order a X7 and trying to anticipate whether I’ll get a “oh sorry, rates went up” pitch…

That 4.99% should be good for 3 more days. Once Aug starts, all bets are off!

[PL]

Originally Posted by BimmerBud

With the FEDs interest rate increase yesterday, has anyone learned whether BMW is immediately increasing their rates?

I looked at BMWs financing offers website and I can no longer find a published interest rate offer, whereas the last time I looked last week it displayed 4.99%

I have an appointment at a dealer today to build and order a X7 and trying to anticipate whether I’ll get a “oh sorry, rates went up” pitch…

By the time you place your order and get your new car delivered it would be about 8 to 10 weeks (my experience), the interest rates may be different by then, as the market may also be different than the rates you see now. My guess is the BMW rate won't go higher than 4.9% even if the feds increase the rate one more time next quarter.

[Gdfein]

I ordered my X7 in late April and it arrived at dealer end of June but had the dreaded knee airbag recall “stop sale”. I’m told it’s been repaired now and planning to take delivery tonight if things go as planned. Expecting to do the 4.99 and loyalty.

If just ordering now in late July you’re prolly looking at 2-3mos wait depending on options.

[Orient330iNYC]

Originally Posted by Gdfein

I ordered my X7 in late April and it arrived at dealer end of June but had the dreaded knee airbag recall “stop sale”. I’m told it’s been repaired now and planning to take delivery tonight if things go as planned. Expecting to do the 4.99 and loyalty.

If just ordering now in late July you’re prolly looking at 2-3mos wait depending on options.

thats not the full story.
it depends on dealer allocations vs when you order it and how many people are ahead of you at that dealer.

you shop for allocations as much as you shop for price. dealer A may be booked for months, dealer B one town over might have no custom orders and all for dealer inventory.

if you could find a dealer with a mid aug prod slot (they are modifiable up to ~2 weeks before prod date) you could get a car in by end of august. conversely, if the dealer has a long list, it will be however long that dealer takes to fulfill their current list based on the allocations they get.

prod allocations for the following month are distributed around the first week of the month prior.

when you ordered your car in late april your dealer had no available allocations for may so you had to wait in the order bank till 1st week of may when the june allocations were released. then they assigned your build to a later june allocation.

if a dealer has a modifiable allocation (all dealers are independently assigned allocations) you can order a car and have it at the dealer within 2-3 weeks. I've gotten an allocation that flipped to 150 (production begins) the day after i placed the order for a Spartanburg car, it was at my dealer 10 days later.

[Orient330iNYC]

Originally Posted by BimmerBud

With the FEDs interest rate increase yesterday, has anyone learned whether BMW is immediately increasing their rates?

I looked at BMWs financing offers website and I can no longer find a published interest rate offer, whereas the last time I looked last week it displayed 4.99%

I have an appointment at a dealer today to build and order a X7 and trying to anticipate whether I’ll get a “oh sorry, rates went up” pitch…

a BMWFS credit application locks todays rate for 60-90 days depending on which coast you are on (it might actually be 90 days for both now, ask your ca how long a rate lock is good for)
typically you get the best rate available. if the rate goes down by the time of delivery you can get that (unlikely). if it goes up, you are protected.

[Gdfein]

I took delivery on 7/31 in the evening and finance manager said best he could fine with BMW was 5.99/60. I showed him various other dealers showing the$1k loyalty rebate and 4.99/60 but none of those sites listed a rate program code. So it was getting late and I felt like I was talking to a wall so just did the deal at 5.99 and I was just expecting to see the rate jump up on 8/1. However it seems the 4.99 is still offered for August.

Do I contact the dealer? Do I contact BMW FS directly? Or am I totally sunk? My Fed CU will do 5.19 so I can always refi. It’s more the the principal of the matter.

[Orient330iNYC]

Originally Posted by Gdfein

I took delivery on 7/31 in the evening and finance manager said best he could fine with BMW was 5.99/60. I showed him various other dealers showing the$1k loyalty rebate and 4.99/60 but none of those sites listed a rate program code. So it was getting late and I felt like I was talking to a wall so just did the deal at 5.99 and I was just expecting to see the rate jump up on 8/1. However it seems the 4.99 is still offered for August.

Do I contact the dealer? Do I contact BMW FS directly? Or am I totally sunk? My Fed CU will do 5.19 so I can always refi. It’s more the the principal of the matter.

you took delivery already, so it cant be changed. once you sign the contract the only thing you can do is refi.
and the dealer is allowed to mark up the base rate by 1%. the dealer keeps the bump as profit. bmwfs is 4.99. the dealer marked it up to 5.99.

refi before 90 days will have them lose the bump and get a charge back for loyalty if they applied it.

[EWL5]

Originally Posted by Gdfein

I took delivery on 7/31 in the evening and finance manager said best he could fine with BMW was 5.99/60. I showed him various other dealers showing the$1k loyalty rebate and 4.99/60 but none of those sites listed a rate program code. So it was getting late and I felt like I was talking to a wall so just did the deal at 5.99 and I was just expecting to see the rate jump up on 8/1. However it seems the 4.99 is still offered for August.

Do I contact the dealer? Do I contact BMW FS directly? Or am I totally sunk? My Fed CU will do 5.19 so I can always refi. It’s more the the principal of the matter.

My dealer did the same to me last fall. Back then, I had no clue what the national program rate was but I felt like he marked it up. This summer, I came w/my own financing for the other car.

[Orient330iNYC]

Originally Posted by EWL5

My dealer did the same to me last fall. Back then, I had no clue what the national program rate was but I felt like he marked it up. This summer, I came w/my own financing for the other car.

thats aggravating, when i went to order my X7 my dealer was upfront with me about everything. i wanted to pay cash.
at the time dealers in the NYC were charging ADM markups of 5-15k over MSRP.
in lieu of any markup on MSRP or mandatory dealer options, they asked me to finance 50K at 1% bump and keep the loan active with bmwfs for 90 days. i would qualify for loyalty @ 750 so it was a wash aside from the annoyance of having to open a loan for 3 months. i actually came out about 500 ahead since i paid everything but 3 months of the loan as soon as my account was active, so i ended up with a finance charge of 200 bucks or so.
I didnt mind the bump because they told me upfront about it, and i also got their first allocation for MY2023 so i was able to get all the options (DHP)

[Gdfein]

I didn’t shop rates extensively today but 5.9-6.2 was consistent so maybe the marked up rate isn’t terrible comparatively. Just annoying it wasn’t discussed / disclosed it was their markup and finance guy threw his hands up.

[Orient330iNYC]

Originally Posted by Gdfein

I didn’t shop rates extensively today but 5.9-6.2 was consistent so maybe the marked up rate isn’t terrible comparatively. Just annoying it wasn’t discussed / disclosed it was their markup and finance guy threw his hands up.

bmwfs caps the bump at 1%
base rate is 4.99, they did the max bump to 5.99%
IIRC bmwfs for promo rates are pass/fail in terms of credit scoring.

its not a terrible upcharge, it just sucks that they were less than forthcoming about what they were doing. did you at least get the loyalty credit? if you didnt i would check my paperwork to see if they deducted for it but added another 1K somewhere else to balance it.

[JayM40i]

Anyone know what the rate should be for 2022 cpo? It falls between the new car and used car rates online so didn’t know what to expect. Also should I be getting loyalty on a 2022? Again, nothing specifies these details online. Thanks

[Phasers]

Originally Posted by JayM40i

Anyone know what the rate should be for 2022 cpo? It falls between the new car and used car rates online so didn’t know what to expect. Also should I be getting loyalty on a 2022? Again, nothing specifies these details online. Thanks

There aren't any promo rates for 2022s, but I would imagine 4.99-5.99% would be a tier 1 range.

[toothache]

I'm getting approx 3-4% discounts for m60i's
anyone get better?

[Bimmerfun82]

Originally Posted by Gdfein

I ordered my X7 in late April and it arrived at dealer end of June but had the dreaded knee airbag recall “stop sale”. I’m told it’s been repaired now and planning to take delivery tonight if things go as planned. Expecting to do the 4.99 and loyalty.

If just ordering now in late July you’re prolly looking at 2-3mos wait depending on options.

Depends on the dealer’s allocation slots, of course. Just ordered today and got a spot in September for delivery late Sep/early Oct.

[spdandpwr]

Does anyone know the 72 month rate? I'm getting quoted 6.49%

[EWL5]

Originally Posted by spdandpwr

Does anyone know the 72 month rate? I'm getting quoted 6.49%

National program has 5.49% for 72 months. Your dealer has added a discretionary 1% to your rate. You are welcome to challenge it but the finance guy will probably tell you take it or leave it!

https://www.edmunds.com/bmw/x7/2024/deals/

[Tuned2BMW]

Anyone else have a July build stuck in "Quality Check"? According to my CA and the MyBMW tracker, the vehicle has a production date of 7/14, but remains in status 155. I've been following up my CA weekly and yesterday he said its still in South Carolina waiting to be loaded on to a train. It's quite frustrating as I was hoping to get the vehicle my mid-August.

[spdandpwr]

Originally Posted by EWL5

National program has 5.49% for 72 months. Your dealer has added a discretionary 1% to your rate. You are welcome to challenge it but the finance guy will probably tell you take it or leave it!

https://www.edmunds.com/bmw/x7/2024/deals/

They're taking 3500 off the sticker price and I had a 112 status car. I lose 2,880 on the car over the life of the loan, but I can recoup it if I refi or pay it off early.

[EWL5]

Originally Posted by spdandpwr

They're taking 3500 off the sticker price and I had a 112 status car. I lose 2,880 on the car over the life of the loan, but I can recoup it if I refi or pay it off early.

Not bad considering no one in my area was budging from MSRP!