Special Order and Locking Incentives/Finance Rate Questions

mercury26 · 12-03-2009, 02:31 PM

So I am closing in on a special order BMW (my first) and would like to lock in the interest rate/incentives. My client advisor at Dealership A told me that I do not need to submit a credit application to lock the rates, simply the deposit on the order will be sufficient. Does this sound correct? Or do I need to a credit app now and later?

Thanks,

Chuck

DougN · 12-03-2009, 02:46 PM

Sounds odd... My CA told me that you had to submit the credit app to lock the rate, as you get 90 days from approval (which makes sense as you have to have a BMWFS event to start the 90 days from). If you are definately going to get the car, and want to lock the current rate (or get better if they change for the better before the end of your lock), I would fill out the app. You can do it on the BMWUSA site, and they send it to the dealer you pick.

mercury26 · 12-03-2009, 03:15 PM

Sounds odd to me also, hence my question...

When you do the application online does it provide "instanteous" approval?

Thanks,

Chuck

DougN · 12-04-2009, 05:15 PM

Almost instantaneous. I got an email from BMWFS about an hour later congratulating me on being approved, which provided an approval number as well as an expiration date. Good luck!

mercury26 · 12-04-2009, 05:16 PM

Thanks, my CA was incorrect. I filled out a credit app today and got approved (and locked).

Thanks

Chuck

12-03-2009, 02:31 PM	#1
mercury26 Lord of the Rings 86 Rep 470 Posts Drives: 20 Audi SQ5,05 BMW 330i ZHP Join Date: Nov 2006 Location: Westminster, Colorado iTrader: (2) Garage List 2021 BMW M2C [0.00] 2020 Audi SQ5 [0.00] 2019 VW Golf Alltrack [0.00] 2018 Ford F150 [0.00] 1977 VW Scirocco [0.00] 2005 BMW 330i ZHP [0.00] 2007 Audi RS4 [0.00]	Special Order and Locking Incentives/Finance Rate Questions So I am closing in on a special order BMW (my first) and would like to lock in the interest rate/incentives. My client advisor at Dealership A told me that I do not need to submit a credit application to lock the rates, simply the deposit on the order will be sufficient. Does this sound correct? Or do I need to a credit app now and later? Thanks, Chuck Last edited by mercury26; 12-03-2009 at 03:20 PM.. Reason: update title
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12-03-2009, 02:46 PM	#2
DougN Private 2 Rep 69 Posts Drives: 2010 E93 Join Date: Nov 2009 Location: Atlanta, GA iTrader: (0)	Sounds odd... My CA told me that you had to submit the credit app to lock the rate, as you get 90 days from approval (which makes sense as you have to have a BMWFS event to start the 90 days from). If you are definately going to get the car, and want to lock the current rate (or get better if they change for the better before the end of your lock), I would fill out the app. You can do it on the BMWUSA site, and they send it to the dealer you pick. __________________ Cheers, Doug _______________________________________________ 2010 E93 Titanium\|Black\|Aluminum 2001 Audi A4 1.8T Quattro/1973 Datsun 240Z/1966 MGB
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12-03-2009, 03:15 PM	#3
mercury26 Lord of the Rings 86 Rep 470 Posts Drives: 20 Audi SQ5,05 BMW 330i ZHP Join Date: Nov 2006 Location: Westminster, Colorado iTrader: (2) Garage List 2021 BMW M2C [0.00] 2020 Audi SQ5 [0.00] 2019 VW Golf Alltrack [0.00] 2018 Ford F150 [0.00] 1977 VW Scirocco [0.00] 2005 BMW 330i ZHP [0.00] 2007 Audi RS4 [0.00]	Sounds odd to me also, hence my question... When you do the application online does it provide "instanteous" approval? Thanks, Chuck
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12-04-2009, 05:15 PM	#4
DougN Private 2 Rep 69 Posts Drives: 2010 E93 Join Date: Nov 2009 Location: Atlanta, GA iTrader: (0)	Almost instantaneous. I got an email from BMWFS about an hour later congratulating me on being approved, which provided an approval number as well as an expiration date. Good luck! __________________ Cheers, Doug _______________________________________________ 2010 E93 Titanium\|Black\|Aluminum 2001 Audi A4 1.8T Quattro/1973 Datsun 240Z/1966 MGB
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12-04-2009, 05:16 PM	#5
mercury26 Lord of the Rings 86 Rep 470 Posts Drives: 20 Audi SQ5,05 BMW 330i ZHP Join Date: Nov 2006 Location: Westminster, Colorado iTrader: (2) Garage List 2021 BMW M2C [0.00] 2020 Audi SQ5 [0.00] 2019 VW Golf Alltrack [0.00] 2018 Ford F150 [0.00] 1977 VW Scirocco [0.00] 2005 BMW 330i ZHP [0.00] 2007 Audi RS4 [0.00]	Thanks, my CA was incorrect. I filled out a credit app today and got approved (and locked). Thanks Chuck
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