BMW Financial incentive
 

I'll be signing the papers next week for my '11 35d which I plan to pickup at the PDC on the 28th. One if the only reasons I am either going to finance or lease, is to get the $2500. incentive offered by BMW financial.

If I finance it, I plan to just pay it off right away but my SA said I need to keep the loan for at least three months or BMW financial would take back the incentive.

I was always of the understanding that (at least in NJ) that you can prepay any loan without penalty, does anyone have any information to the contrary?

Why not actually read the document that you are 'signing'... it WILL have all the legally binding restrictions you seek to understand. Asking idiots on a forum is not a good plan for a legal decision. Me included.

A

I guess what I was asking for is if anyone had any actual experience in paying off early. I always do and had planned to read the fine print before signing.

Thanks for all your advice, I guess it's worth what I paid for it :rolleyes:

I've seen multiple threads on this precise topic, but you are asking for personal experience, so I'll hold my tongue. I'd not want to simple repeat second hand what someone else has reported.

There is an "ask a dealer" forum over on bimmerfest. Useless for actually asking dealers anything (nothing they say is binding, and who know who really works for BMW, and many times 'dealers' are wrong/just spouting the party line) but there are occasionally enlightening threads.

Call you dealer, ask them to fax, scan, or mail all documents they expect you to sign....

It varies by State and by Promotion, so unless you find someone currently buying in NJ with the same incentive, you won't get much of a comparable experience. To be safer, you might as if the is any minimum amount to finance to get the promotion. If not, then simply give them a down payment of about 80% or so of the total amount, finance the 20%, and wait for three months to pay it off. The interest would not be that much if you want to be extra sure about it.

The possibility exists that the Dealer/SA does not get their incentive or credit from BMWNA if it is paid-off sooner than three months....

My thoughts exactly.