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  #1  
Old 05-01-2017, 09:23 AM
ctorrey ctorrey is offline
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Rate Lock Exceptions

Due to an allocation issue, my dealer wasn't able to order my new F30 for a couple of weeks after I completed my credit app (locking rates). As a result I most certainly won't take delivery until after the rate lock expires on 5/31. Because my deal involves the discontinued AARP incentive and MSD program, there will be a big problem if I don't get the March terms that I locked. Dealer says they can get an exception, but I have never seen something like this posted. Should I be concerned or is this standard practice?
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  #2  
Old 05-01-2017, 11:55 AM
MJBrown62 MJBrown62 is offline
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Quote:
Originally Posted by ctorrey View Post
Due to an allocation issue, my dealer wasn't able to order my new F30 for a couple of weeks after I completed my credit app (locking rates). As a result I most certainly won't take delivery until after the rate lock expires on 5/31. Because my deal involves the discontinued AARP incentive and MSD program, there will be a big problem if I don't get the March terms that I locked. Dealer says they can get an exception, but I have never seen something like this posted. Should I be concerned or is this standard practice?
Today is the last day of the April program. If you re-submit to your dealer, it will lock you in for another 60 period and get you the MSD program locked in as well.

I've not seen credit lock exceptions before.

I looked at the Corporate Fleet web site and AARP is still on the list, so I'm not sure it was discontinued. And fleet programs don't lock anyway.

Have your dealer run the numbers for you. The April program has a higher MF, but it might be better than losing out on the MSDs all together.

As always, see your local dealer for details!
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  #3  
Old 05-01-2017, 12:57 PM
ctorrey ctorrey is offline
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Location: Boston
 
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Quote:
Originally Posted by MJBrown62 View Post
Today is the last day of the April program. If you re-submit to your dealer, it will lock you in for another 60 period and get you the MSD program locked in as well.

I've not seen credit lock exceptions before.

I looked at the Corporate Fleet web site and AARP is still on the list, so I'm not sure it was discontinued. And fleet programs don't lock anyway.

Have your dealer run the numbers for you. The April program has a higher MF, but it might be better than losing out on the MSDs all together.

As always, see your local dealer for details!
I actually spoke with him Saturday on this subject and he mentioned the 'exception'. I'm fully expecting to get the deal that's described on the P&S agreement. Short of that, I may not accept delivery of the car. They don't seem worried about it, so I guess we'll see what happens. I may have to put together a contingency plan if this falls apart.
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2017 340i xDrive | Mineral Gray | Coral Red Dakota | M-Sport | M Performance Power & Sound | ZCW | ZDA | ZLP | 2PE | 2VF| ZTP | 5DL | 5DP | 6CP
2017 X3 2.8 xDrive | Deep Sea Blue | Saddle Brown Dakota | ZXD | ZW2 | ZDA | ZLP | ZP3 | ZTP | 5DL


Gone, but not forgotten:
14 BMW 335xi F30
11 BMW 335xi E90
08 BMW 335i E90
05 Audi A4 3.0q USP
01 Audi A6 4.2q
98 Audi A4 2.8q
91 BMW 535i
87 BMW 325e
84 VW Rabbit GTI
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  #4  
Old 05-01-2017, 12:59 PM
chrischeung chrischeung is offline
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Quote:
Originally Posted by ctorrey View Post
Dealer says they can get an exception, but I have never seen something like this posted. Should I be concerned or is this standard practice?
Do you have a choice? If not, don't be concerned.

I've rarely read about exceptions. The approvals from memory are due to a car needing to be reproduced due to some production issue, or damage during shipping that was significant, where the payment would have been more.

Naturally, locking in the MSD benefit has never been an exception (since this is the first time that the program has been canceled) - but I guess theoretically it could be an exception. In the end, if BMW can't do it, they may end up eating the MSD requirement to get the same payment if they can't make the system take MSDs for you in future by reducing the selling price. Heck, the MSD difference is small, and maybe lease rates will improve to where the issue is a non-starter. If anything, if the difference is reduced, the dealer may just eat the difference.

Was the allocation issue the fault of BMW? Or the dealership? Where the fault lies I think goes a long way on getting something beneficial.
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Last edited by chrischeung; 05-01-2017 at 01:03 PM.
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  #5  
Old 05-01-2017, 01:38 PM
ctorrey ctorrey is offline
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Location: Boston
 
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Quote:
Originally Posted by chrischeung View Post
Was the allocation issue the fault of BMW? Or the dealership? Where the fault lies I think goes a long way on getting something beneficial.
The dealer I was working with didn't have an allocation in March when I completed the credit application and it was several weeks before they were able to get one. They attempted to trade with other dealers, but were not immediately successful. I believe the car is in '112' status with production scheduled in the very near future.

All I'm looking for is the deal we agreed to - I have no issue with protracted delivery dates as I can extend my current lease.
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2017 340i xDrive | Mineral Gray | Coral Red Dakota | M-Sport | M Performance Power & Sound | ZCW | ZDA | ZLP | 2PE | 2VF| ZTP | 5DL | 5DP | 6CP
2017 X3 2.8 xDrive | Deep Sea Blue | Saddle Brown Dakota | ZXD | ZW2 | ZDA | ZLP | ZP3 | ZTP | 5DL


Gone, but not forgotten:
14 BMW 335xi F30
11 BMW 335xi E90
08 BMW 335i E90
05 Audi A4 3.0q USP
01 Audi A6 4.2q
98 Audi A4 2.8q
91 BMW 535i
87 BMW 325e
84 VW Rabbit GTI
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  #6  
Old 05-01-2017, 02:19 PM
1968BMW2800 1968BMW2800 is offline
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Quote:
Originally Posted by ctorrey View Post
I actually spoke with him Saturday on this subject and he mentioned the 'exception'. I'm fully expecting to get the deal that's described on the P&S agreement. Short of that, I may not accept delivery of the car. They don't seem worried about it, so I guess we'll see what happens. I may have to put together a contingency plan if this falls apart.
Here's more "free" advice, which is all it's probably worth.

In the past, when ordering a car with an uncertain delivery date, I have worked with the Sales Manager to nail down a guaranteed maximum price. If the incentives improved on the date of delivery, I got those. Since some incentives can't roll, we reached an understanding that the dealer would find a way to make the agreed-upon numbers work, one way or another. And these arrangements were on back-of-invoice net price (including incentives). True, the MSD issue looms. But, again, the dealer has other ways to get you there.

So, if you want the car, a quality dealer will find a way. And now, with all the extra "trunk $," the dealer should have lots of ways to get you put together, to your satisfaction.
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  #7  
Old 05-01-2017, 03:05 PM
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quackbury quackbury is offline
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Quote:
Originally Posted by 1968BMW2800 View Post
Here's more "free" advice, which is all it's probably worth.

So, if you want the car, a quality dealer will find a way. And now, with all the extra "trunk $," the dealer should have lots of ways to get you put together, to your satisfaction.
Exactly. My deal was originally for $750 over invoice, with $1,500 AARP, $2,000 Loyalty and Boston Bruins $1,000 voucher. I have a rate lock, and I expect the same payment we agreed to when I signed the credit app. If the AARP goes away, I can claim my $1,000 BMWCCA discount. The other issues are the dealer's problem. They can skinny down their profit in the deal to get me to the agreed-upon payment or...

Quote:
Originally Posted by chrischeung View Post
Do you have a choice? If not, don't be concerned.
You ALWAYS have a choice. If the dealer won't "deal", and/or if it turns out the G30 540 really has an A/C problem, I will just refuse delivery. There's a 6 series lease assumption that's tempting me, plus I am intrigued by a couple of Jaguars (F Pace S, and XF R Type AWD). My 540 build is pretty desirable, so if I walk on principal, I am sure the dealer will find another azz to for that seat. An azz who doesn't feel he or she has just taken it up the azz from BMW.
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  #8  
Old 05-01-2017, 04:56 PM
ctorrey ctorrey is offline
Porleau
Location: Boston
 
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Quote:
Originally Posted by quackbury View Post
My deal was originally for $750 over invoice, with $1,500 AARP, $2,000 Loyalty and Boston Bruins $1,000 voucher. I have a rate lock, and I expect the same payment we agreed to when I signed the credit app. If the AARP goes away, I can claim my $1,000 BMWCCA discount. The other issues are the dealer's problem. They can skinny down their profit in the deal to get me to the agreed-upon payment or...
I was also at the Bruins event. Great time! I'm not too worried about the deal. This will be my 5th lease with the CA - all ordered BMWs. We just closed on an X3 last weekend, so he sort of got a 'two-fer' with us this time around.
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2017 340i xDrive | Mineral Gray | Coral Red Dakota | M-Sport | M Performance Power & Sound | ZCW | ZDA | ZLP | 2PE | 2VF| ZTP | 5DL | 5DP | 6CP
2017 X3 2.8 xDrive | Deep Sea Blue | Saddle Brown Dakota | ZXD | ZW2 | ZDA | ZLP | ZP3 | ZTP | 5DL


Gone, but not forgotten:
14 BMW 335xi F30
11 BMW 335xi E90
08 BMW 335i E90
05 Audi A4 3.0q USP
01 Audi A6 4.2q
98 Audi A4 2.8q
91 BMW 535i
87 BMW 325e
84 VW Rabbit GTI
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