BMW extends 0.9% offer

[Loki]

It looks like BMW did in fact extend their 0.9% financing for 60 months offer until 09/02/08. So those on the fence can order their custom E70s now before they stop making the 2008s and start building the 2009s.

I am really surprised to see BMW continue to be this agressive in both their discounting from MSRP, cash back premium package offers, and historic finance rates. Things must be _almost_ as bad for them as Detroit.

I can't complain since I just picked up an E70 myself with great terms...just surprised.

[BGM]

The majority of BMW customers lease. Right now BMW is losing money on residual values on leased cars and the best way to offset that is incent customers to buy. Thus, the financing offer + other discounts.

[StanF18]

Originally Posted by Loki

It looks like BMW did in fact extend their 0.9% financing for 60 months offer until 09/02/08. So those on the fence can order their custom E70s now before they stop making the 2008s and start building the 2009s.

I am really surprised to see BMW continue to be this agressive in both their discounting from MSRP, cash back premium package offers, and historic finance rates. Things must be _almost_ as bad for them as Detroit.

I can't complain since I just picked up an E70 myself with great terms...just surprised.

Nothing surprising actually. BMW AG released earnings today. I think the 0.9% might go lower eventually, if the slide continues in the 3rd quarter.

http://money.cnn.com/2008/08/01/news...n=money_latest

[Penguin]

http://www.forbes.com/markets/2008/0...markets03.html

Yup... BMW took a Half billion $ plus write-off due to misestimating the residual values of leases, in addition to the prior al billion they had on the books already.

Looks like leasing is not going to be as popular in the futre for any of the car companies.

[E61Silver]

If they would discount my residual and give me a CPO and 0.9%, i will take it off their hands

[BostonSilver]

I saw reference to both the 0.9% financing, as well as a Premium Package Discount online. I am considering purchase of an E70 4.8. Before asking the dealer, and going thru the entire invoice cost exercise, does anyone have any recent information or experience? I am in Mass., if that has any bearing. Thanks.