BMW for real??? Can they do this??

Thief · May 20, 2004

Just got off the phone with the dealership in Ontario Canada that I plan to lease my 330i from. They have a 3.3% lease rate until the end of June. SInce the car I ordered won't be ready for delivery until the end of July, they tell me they cannot guarantee me the 3.3% rate. They said starting July 1st BMW will be either increasing or lowering ( or keep it the same) their lease rate and adjusting the residual.

My question is can they do that, I am ordering the car tomorrow, so should I not get it at tomorrows rate, should not really be my problem that they don't have the car, and I have to wait to pick it up.

Any advice or insight would be appreciated.

Thief [rolleyes]

longshanks · May 20, 2004

you gotta roll with the punches and they can do whatever they like with their rates. They are a company and have to do what they have to do. When rates increase, they have to follow suit or they will not be making their normal amount of money.

Millreef · May 20, 2004

You never know, I suppose, but I think you'll find that the rates will stay the same. They were saying the same thing to me when I ordered my 325 in February - ie. that it had to be delivered before the end of the month or they couldn't guarantee the 2.9% rate. It did get here in time but the lease rates have stayed the same ever since. I suspect they're trying to aggressively move out all the current generation 3 series before the next one arrives....

epiphany · May 20, 2004

I take it these interest rates are for people with uber kick ass credit? Or can someone with GOOD credit get these 3.3 deals?

Fielding Yost · May 20, 2004

Maybe I'm not remembering this right, but when I leased, I think the salesman said that my lease rate was locked in once I submitted my credit application to the dealership. Maybe I had to give a deposit with that too. I just don't remember that clearly b/c I submitted the credit application and closed the lease deal within about 3 weeks.

Thief · May 20, 2004

I will know more tomorrow as I am going there to sign the papers, I thought like you that once I left my deposit and signed the agreement, the rates would be fixed....guess I was wrong.

The 3.3% LEASE rate is for any 3 series BMW until the end of June in Ontario Canada.

Thief

CdnH20skier · May 20, 2004

rates from BMW financing

Im seeing the same thing. Im ordering in June but was going to order in May and the big pressure was on: "cant guarantee the rates" its all based on what BMW marketing feels should be their subsidized rate input. right now I also saw it at 3.3 and 0.5 off additionally if youre a current or recent BMW financing customer. but the rate they are talking aboout mostly is the "residual rate" I believe it ranges around 58-59%.

One thing though, I thought i remembered it being based on when the car was ordered and delivered. in other words if ordered now and delivered in June, they can lock it in.

That's how I think it was with the Montreal based dealer. Who are ya ordering from? Budd's in Oakville?

Gary

Thief · May 20, 2004

Not going to use Budds, got a better deal up at Maranellos. Is it my fault that the car wont be ready until July??? Damn, I would take it tomorrow......

Thief

theBMWenthusiast · May 20, 2004

ask another center if they can promise that rate

nbtstatic · May 20, 2004

BMWFS-

The rate can only be locked for 60 days prior to expiration of the current lease program. If submitted right now, the rates will change at the beginning of June, therefore you would have 60 days from then. This is how it works in the US, not sure if its any diff.

Nb

Blue · May 21, 2004

If you're signing the contract tomorrow, logic would dictate that all terms of the contract are finalized at signing. I sure as hell wouldn't be signing a contract that had variable terms.

Thief · May 21, 2004

Well, after visiting the dealership today, I found out why the rates/residuals won't stick. The rates/residuals being offered are promotional, if they were regular rates then they would have guaranteed me the 60 days. So all in all I decided not to roll the dice on the new rates, I comprimised the jet black for the Titanium Silver with Prem and Sport package, with black interior. All in all not bad.

Thief

nbtstatic · May 21, 2004

Blue said:

Ordering tomorrow and signing tomorrow are two different things. You don't enter into any contract until the car is delivered and you actually purchase it.

house · May 22, 2004

When I ordered mine they ran my credit and my rate was guaranteed through BMW Financing. When I got the car, 50 days later, the rate actually dropped a fraction and I was given the lower rate, but they made it clear that it would not go up.

Blue · May 22, 2004

Then what's to lose? Order it up and when it arrives just refuse it if the rates aren't to your liking.

Now, if you're going to tell me that you can't do that, then there must be some kind of contractual obligation upon ordering. See my point?

Thief · May 22, 2004

house said:

Yes that would be normal circumstances, but would not be the case if they were offering an advent rate (as they are now). The rate won't change, but the 58% residual will probably drop a few points.

Thief

rory · May 22, 2004

Well you don't techincally "pay" or "lease" the car until it arrives, so yes they can do that. But it's always a better deal to buy all out.

Thief · May 22, 2004

Unless you can write most of it off. [scratch]

Thief

///M Power · May 23, 2004

Just a quick question, what dealership in Ontario, Otto's or Elite? I work at a dealership in Vancouver and I can find out what is going to happen.

Thief · May 23, 2004

///M Power said:

Not sure what you mean by Ottos or Elite, the one I dealt with is in Toronto. Any info you can get me for what the rate or the residual is gonna do on July 1, would be greatly appreciated.

Thief

BMW for real??? Can they do this??

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