[Xtabi]

Originally Posted by silverstar335

DCU currently offers 1.49% for 65 months and 1.24% if a hybrid.

What is DCU?

[silverstar335]

Originally Posted by Xtabi

What is DCU?

Digital Credit Union

[Delrazdan]

Originally Posted by Phasers

There is a 60 day waiting period before you can generate the penfed code.

My apologize if this is a re-ask. I just signed up with PenFed and I am trying to unveil the mystery. If you look at penfed website it seems to direct you through TrueCar - Not sure if that is correct. It says 1.9% for 60 months and if penfed they take 1% off. Does that have to involve TrueCar?

I talked to the dealer about the code and 3250 discount on X7. He said a few things - pl comment on accuracy

a) 3250 is if I pay cash (non BMWFS)- if I finance through BMWFS its 500

So is financing through penfed is considered "CASH" as far as BMW dealer is concerned?

I am trying to get clarity on the process since dealers are not going to be forthcoming in this market.

Thanks in advance.

[Jason]

September program posted.

[Phasers]

Originally Posted by Delrazdan

My apologize if this is a re-ask. I just signed up with PenFed and I am trying to unveil the mystery. If you look at penfed website it seems to direct you through TrueCar - Not sure if that is correct. It says 1.9% for 60 months and if penfed they take 1% off. Does that have to involve TrueCar?

I talked to the dealer about the code and 3250 discount on X7. He said a few things - pl comment on accuracy

a) 3250 is if I pay cash (non BMWFS)- if I finance through BMWFS its 500

So is financing through penfed is considered "CASH" as far as BMW dealer is concerned?

I am trying to get clarity on the process since dealers are not going to be forthcoming in this market.

Thanks in advance.

For PenFed incentive Click where it says "sign in to get your offer code" at the top. See photo at bottom of this post.

The $3250 incentive is valid only if you do not finance through BMWFS, otherwise it is only $500. That does not mean you have to pay cash, it just means you have to finance through another bank or credit union (no it does not require you to finance with Penfed). The dealer can finance you with any outside bank or credit union they are affiliated with.

It is up to you to determine if the $3250 is the best incentive for your situation vs stacking the $500 with other incentives, such a loyalty or college grad, which do require you to finance with BMWFS. In August, the loyalty incentive was $750 on a '22 X7, so $750 + $500 was certainly nowhere near as good as $3250.

One Final Note: All leases are through BMWFS, so if you lease you only get $500 incentive from PenFed. This vehicle doesn't really lease all that well, so I don't recommend that path.

[Delrazdan]

Originally Posted by Phasers

For PenFed incentive Click where it says "sign in to get your offer code" at the top. See photo at bottom of this post.

The $3250 incentive is valid only if you do not finance through BMWFS, otherwise it is only $500. That does not mean you have to pay cash, it just means you have to finance through another bank or credit union (no it does not require you to finance with Penfed). The dealer can finance you with any outside bank or credit union they are affiliated with.

It is up to you to determine if the $3250 is the best incentive for your situation vs stacking the $500 with other incentives, such a loyalty or college grad, which do require you to finance with BMWFS. In August, the loyalty incentive was $750 on a '22 X7, so $750 + $500 was certainly nowhere near as good as $3250.

One Final Note: All leases are through BMWFS, so if you lease you only get $500 incentive from PenFed. This vehicle doesn't really lease all that well, so I don't recommend that path.

Thanks for answering my question - Do you know about the 1% off from penfed question - do we have to go through TrueCar to get that? or merely financing through penfed gets you that.

[Phasers]

Originally Posted by Delrazdan

Thanks for answering my question - Do you know about the 1% off from penfed question - do we have to go through TrueCar to get that? or merely financing through penfed gets you that.

I believe you have to do their car buying service, which I have never done so I can't speak to the details. I suspect you are correct in that it does involve TrueCar in some form or another.

[Waz]

Please help calibrate me. I am ordering an X7 40i. MSRP $88,395. Dealer indicated that they are not offering any discounts and that the only incentive is $1,000 from the summer drive event and $750 for BMW financing. Also offered me below market for my trade-in. I'm based in Michigan so not sure how this compares with other States.
2.9% for a lease.
Other than someone getting the CostCo deal or the PenFed discount, what do you think of the dealer's offer?

[Waz]

@M2COMP What is PCD in South Carolina? Is that picking up at Spartanburg and do you get a discount for doing so?

[Phasers]

Originally Posted by Waz

@M2COMP What is PCD in South Carolina? Is that picking up at Spartanburg and do you get a discount for doing so?

Yes picking up in Spartanburg. Getting to drive on a course, etc. Great experience from what others have posted.

No discount.

[Phasers]

Originally Posted by Waz

Please help calibrate me. I am ordering an X7 40i. MSRP $88,395. Dealer indicated that they are not offering any discounts and that the only incentive is $1,000 from the summer drive event and $750 for BMW financing. Also offered me below market for my trade-in. I'm based in Michigan so not sure how this compares with other States.
2.9% for a lease.
Other than someone getting the CostCo deal or the PenFed discount, what do you think of the dealer's offer?

Find another dealer if you can. This is effectively a $500 dealer discount ($500 of the OL code is dealer contribution).

[Waz]

Spoke to four other dealers today. None willing to give any discount! Just MSRP and BMW NA incentives - which are limited.

[Phasers]

Originally Posted by Waz

Spoke to four other dealers today. None willing to give any discount! Just MSRP and BMW NA incentives - which are limited.

Buy this one: https://forum.leasehackr.com/t/bacon...40i/310163/110

MY21 BMW X7 M50i
9.5% pre incentive

Mineral White/Blk
Cold weather

Another $5250 in incentives if you have PenFed, or $3000 if you don't but have loyalty. $500 broker fee + shipping, but you're still looking at a brand new M50i for under $90k with PenFed.

[Angelo_GraysonMiniBMW]

The lease I was offered on 10k mi. a year for an X7 i40 with MF of .0013 (3.19%) and a 47% residual. With $2500 down that goes towards first payment, the monthly is around $1460mo with sales tax of 7%. The residual is not very good leaving me to believe purchasing would be the better option if I keep it 6yrs. What say you all? Of course if I keep it 6yrs with a 1.9% 60mo. loan including my $3250 discount, I’d probably buy an extended warranty that would offset some of the savings.

[Phasers]

Originally Posted by Angelo1

The lease I was offered on 10k mi. a year for an X7 i40 with MF of .0013 (3.19%) and a 47% residual. With $2500 down that goes towards first payment, the monthly is around $1460mo with sales tax of 7%. The residual is not very good leaving me to believe purchasing would be the better option if I keep it 6yrs. What say you all? Of course if I keep it 6yrs with a 1.9% 60mo. loan including my $3250 discount, I’d probably buy an extended warranty that would offset some of the savings.

Some comments / questions:

1. The residual doesn't look right. for a 36/10 lease on a '21 it should be 54% residual, and on a '22 53%.
2. The dealer is marking up your Money Factor from the base .00093 MF. That's pure extra profit for them.
3. What's your selling price? Are you getting any discount there?
4. Be sure to bring your own financing with the $3250 penfed discount if the dealer is marking up rates, as they might do the same if they place you with one of their banks. Otherwise be prepared to refinance immediately.

[Angelo_GraysonMiniBMW]

Originally Posted by Phasers

Some comments / questions:

1. The residual doesn't look right. for a 36/10 lease on a '21 it should be 54% residual, and on a '22 53%.
2. The dealer is marking up your Money Factor from the base .00093 MF. That's pure extra profit for them.
3. What's your selling price? Are you getting any discount there?
4. Be sure to bring your own financing with the $3250 penfed discount if the dealer is marking up rates, as they might do the same if they place you with one of their banks. Otherwise be prepared to refinance immediately.

Thank you for your timely response and information! It was very helpful, especially since i never lease vehicles. I just spoke with my SA and told him that I’m not interested in buying it since the weak sound system would drive my OCD nuts for 6yrs as I just found out that adding an amp will in fact be a warranty problem since the new amp draws a different amperage than the computer is programmed for. Anyways, I gave him the MF .00093 and residual 54% and he spoke with the Finance manger and is going give me the rate. That officially gives me an almost identical buy apr. Now, do I purchase the wheel and tire insurance for the 21” run flats or just get the 22” and do the same. The reason I was going with the 21” was for tread life but the 22” black and silver rims look really good

[Phasers]

Originally Posted by Angelo1

Thank you for your timely response and information! It was very helpful, especially since i never lease vehicles. I just spoke with my SA and told him that I’m not interested in buying it since the weak sound system would drive my OCD nuts for 6yrs as I just found out that adding an amp will in fact be a warranty problem since the new amp draws a different amperage than the computer is programmed for. Anyways, I gave him the MF .00093 and residual 54% and he spoke with the Finance manger and is going give me the rate. That officially gives me an almost identical buy apr. Now, do I purchase the wheel and tire insurance for the 21” run flats or just get the 22” and do the same. The reason I was going with the 21” was for tread life but the 22” black and silver rims look really good

The 755M tires do look really good (what I chose), but do need the M-Sport package to get them, which is another ~$4k to the MSRP on top of the $1300 for the wheel upgrade. Keep in mind this is a lease, so if you're planning to turn it back in after 3 years then only you can decide if it is worth the additional money.

You haven't answered on the selling price.

[Angelo_GraysonMiniBMW]

Originally Posted by Phasers

The 755M tires do look really good (what I chose), but do need the M-Sport package to get them, which is another ~$4k to the MSRP on top of the $1300 for the wheel upgrade. Keep in mind this is a lease, so if you're planning to turn it back in after 3 years then only you can decide if it is worth the additional money.

You haven't answered on the selling price.

My apologies, I forgot about the price. $89,845. I certainly don’t need the msport pkg. but it is one of the features I really like as it blacks out all the chrome as well. I optioned it without msport and it would bring the price down to $87,650. Not sure that would change my payment much.

Current order-
‘22 X7 i40
-Alpine white
Black extended merino leather
CWP
DAPP
LSP
M sport pkg w. 21” 754M
PAP
PP
Trailer hitch
M Sport black brakes
Ash grain black wood
Extended shadowing trim
Space saver tire
$89,845

Option 2
-Artic grey
Black extended merino
CWP
DAPP
LSP
PAP
PP
Trailer hitch
Ash grain black wood
Shadow line exterior trim (not extended)
21” 753 run flat wheels
Anthracite Alcantara Headliner
Space saver spare
$86,150

[Phasers]

Originally Posted by Angelo1

My apologies, I forgot about the price. $89,845. I certainly don’t need the msport pkg. but it is one of the features I really like as it blacks out all the chrome as well. I optioned it without msport and it would bring the price down to $87,650. Not sure that would change my payment much.

Current order-
‘22 X7 i40
-Alpine white
Black extended merino leather
DAPP
LSP
M sport pkg w. 21” 754M
PAP
PP
Trailer hitch
M Sport black brakes
Ash grain black wood
Extended shadowing trim
$89,845

Option 2
-Artic grey
Black extended merino
DAPP
LSP
PAP
PP
Trailer hitch
Ash grain black wood
Shadow line exterior trim (not extended)
21” 753 run flat wheels
Anthracite Alcantara Headliner
$86,995

If you're paying full MSRP and doing a build with no trade, I would shop dealers nationwide to find one willing to give you a discount on the selling price.

[Angelo_GraysonMiniBMW]

Originally Posted by Phasers

If you're paying full MSRP and doing a build with no trade, I would shop dealers nationwide to find one willing to give you a discount on the selling price.

I called a few of them without any luck. Just called another a few minutes ago saying the exact same thing the others did. Either no available allocations in my time frame or because of high demand and very limited allocations, nobody was willing to budge. I’m pretty busy and don’t have the time to call every dealer to maybe save 3%. I am honestly bummed about the stereo situation more than not getting a discount. I even test drove a Jeep Grand Cherokee Summit reserve L for its very impressive system. But the V6 . It was loud and gutless

[Xtabi]

Originally Posted by Angelo1

I called a few of them without any luck. Just called another a few minutes ago saying the exact same thing the others did. Either no available allocations in my time frame or because of high demand and very limited allocations, nobody was willing to budge. I’m pretty busy and don’t have the time to call every dealer to maybe save 3%. I am honestly bummed about the stereo situation more than not getting a discount. I even test drove a Jeep Grand Cherokee Summit reserve L for its very impressive system. But the V6 . It was loud and gutless

I also checked out the JGCL. By far the best infotainment in the car business IMO. The interface and the way the screen is positioned on the dash. 10/10.

Ditto on the powertrain though.

[Phasers]

Originally Posted by Angelo1

I called a few of them without any luck. Just called another a few minutes ago saying the exact same thing the others did. Either no available allocations in my time frame or because of high demand and very limited allocations, nobody was willing to budge. I’m pretty busy and don’t have the time to call every dealer to maybe save 3%. I am honestly bummed about the stereo situation more than not getting a discount. I even test drove a Jeep Grand Cherokee Summit reserve L for its very impressive system. But the V6 . It was loud and gutless

Honestly, in your situation I would reach out to a broker on LH. If they get you even a 1% discount, it would be worth their broker fee (and it wouldn't waste your time).