Might be of use to someone.

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Akanaten

Akanaten

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Just found this post on the Motortrend site, which might be of interest to some members.

MINI Cooper SE Specifications
Amount Description Expiry Date
$500 MINI announce a Bonus Cash on select models for eligible college graduates when financed through MINI Financial Services. 05/31/2022

$1000 Mini announces a Bonus Cash offer on select models for eligible current owners who pre-order a MINI. 05/31/2022

$0 4.95% Financing available for varying term lengths : 24, 36, 39, 42, 48, 60 Months - Mini announces APR rates on select models. 05/31/2022

$0 5.25% Financing for a maximum term of 72 Months - Mini announces APR rates on select models. 05/31/2022
 
If you live in the US, pentagon federal has the lowest rates in the country and anyone can join. Online. Easy peasy. I was at 1.99% in April when I took delivery. Do not finance with a dealership.
 
Dipfanatic said:
If you live in the US, pentagon federal has the lowest rates in the country and anyone can join. Online. Easy peasy. I was at 1.99% in April when I took delivery. Do not finance with a dealership.
Click to expand...
I used them for the red one. Dealer told me it was a nightmare with the paperwork. My approval with BMW expires 6/30, and I didn't write down the rate on a SE from April. I am going to apply to a few lenders this week with a 90 day lock, and pay BMW off if that makes the transaction smoother.

I called BMW financial for the rate i was offered. They dont know.
 
I was a finance manager for over 17 years in the auto industry. I’ve been given those drafts checks from customersfor 17 of those years. It creates more work for the finance manager, they hate extra work usually.. if the dealership makes an error submitting it that’s on them. I personally never had an issue taking them or using them.
And the savings is real..
 
Dipfanatic said:
I was a finance manager for over 17 years in the auto industry. I’ve been given those drafts checks from customersfor 17 of those years. It creates more work for the finance manager, they hate extra work usually.. if the dealership makes an error submitting it that’s on them. I personally never had an issue taking them or using them.
And the savings is real..
Click to expand...
Does showing a preapproval letter from the CU facilitate things?
 
Dipfanatic said:
I was a finance manager for over 17 years in the auto industry. I’ve been given those drafts checks from customersfor 17 of those years. It creates more work for the finance manager, they hate extra work usually.. if the dealership makes an error submitting it that’s on them. I personally never had an issue taking them or using them.
And the savings is real..
Click to expand...
Colorado has a $2,500 tax credit. If I use BMW the dealer gets the credit and I finance $2,500 less. Penfed approved me for 72 months at 3.59% good for 30 days. The rate for a new car, or refi a new is the same. I may finance with BMW and pay it off a few days later. I know the dealer says I have to keep it for however long. What happens if mail the check from Penfed to BMW a few days after I get the car? I assume BMW has to take the check. The issue is the brand on the title.
 
ristretto said:
Does showing a preapproval letter from the CU facilitate things?
Click to expand...

No. You need to complete the process and get a “draft” which is a check they mail you, it’s good for 90 days and the dealership fills out the information on the check at time of sale. The credit Union then receives it and processes the loan. It was quite easy.
 
Tommm said:
Colorado has a $2,500 tax credit. If I use BMW the dealer gets the credit and I finance $2,500 less. Penfed approved me for 72 months at 3.59% good for 30 days. The rate for a new car, or refi a new is the same. I may finance with BMW and pay it off a few days later. I know the dealer says I have to keep it for however long. What happens if mail the check from Penfed to BMW a few days after I get the car? I assume BMW has to take the check. The issue is the brand on the title.
Click to expand...

i don’t want to provide you a wrong answer. From my experience you would be able to pay it off at your first payment or as soon as the account is available (might take a week or two). I’m not certain about wether the PenFed check is good for what you want. That’s a call worth making to save $2500 extra.
 
Dipfanatic said:
i don’t want to provide you a wrong answer. From my experience you would be able to pay it off at your first payment or as soon as the account is available (might take a week or two). I’m not certain about wether the PenFed check is good for what you want. That’s a call worth making to save $2500 extra.
Click to expand...
I mistyped. If I finance with BMW they take it off the top. Otherwise I have to wait to file my 2022 return to get the credit. So I get the 2500 either way.
 
Sorry guys about my original post. Must have had one of my senior moments again, before checking the expiry dates:(:)
 
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