[jumpmansam]

Hi everyone, I wanted to tell everyone how you can take steps to ensure you get your 1.9% rate honored:

My wife and I went to the dealership, and they were playing hardball on not budging from 2.9%. We eventually had to tell them to call BMW FS. We basically laid out that they were on grounds for us filing a complaint with the Consumer Financial Protection Bureau. We had the CFPB website pulled with the article, showing what they were doing was exactly what the CFPB could fine them for.

Eventually, they caved in. If there are enough complaints for those who still won't get the 1.9% honored, then I'd file a CFPB complaint. If there are enough complaints, you all could get rewards for the damage from the misleading advertisement.

 

[PJT10]

Hi everyone, I wanted to tell everyone how you can take steps to ensure you get your 1.9% rate honored:

My wife and I went to the dealership, and they were playing hardball on not budging from 2.9%. We eventually had to tell them to call BMW FS. We basically laid out that they were on grounds for us filing a complaint with the Consumer Financial Protection Bureau. We had the CFPB website pulled with the article, showing what they were doing was exactly what the CFPB could fine them for.

Eventually, they caved in. If there are enough complaints for those who still won't get the 1.9% honored, then I'd file a CFPB complaint. If there are enough complaints, you all could get rewards for the damage from the misleading advertisement.

I am a US member. Great Job! You did exactly what we did, but without the same amount of hassle. We pre-ordered on 8/18/2021. I brought the online 1.9% interest rate advertisement from BMW Financial when I accepted delivery of my iX50 on 6/3/2022. My husband also got the same 1.9% when he accepted delivery of his iX 50 on 6/30/2022. This is my third BMW purchase through BMW Financial Services and my husband's second at the same dealership. We live in MD which has really good consumer protection laws here, including "Lemon Law" protection. Visit your State's Attorney General's website to find out your rights when purchasing an automobile.

 

[skubapooh]

Thank you for posting this. This helped us out when our dealer was also holding the line on the 2.9%. We mentioned filing a CFBP complaint and all of a sudden they "remembered" about the offer.

 

[PJT10]

I am a US member. Great Job! You did exactly what we did, but without the same amount of hassle. We pre-ordered on 8/18/2021. I brought the online 1.9% interest rate advertisement from BMW Financial when I accepted delivery of my iX50 on 6/3/2022. My husband also got the same 1.9% when he accepted delivery of his iX 50 on 6/30/2022. This is my third BMW purchase through BMW Financial Services and my husband's second at the same dealership. We live in MD which has really good consumer protection laws here, including "Lemon Law" protection. Visit your State's Attorney General's website to find out your rights when purchasing an automobile.

My husband accepted delivery of his iX50 on 6/30/2022. On 7/22/2022 BMW NA notified us that my husband's iX50 was being recalled. His ViN No. was a part of the "High Voltage Battery" Safety Recall. Thankfully, my iX50 was not on the list. BMW NA and our dealership has been supportive. However, after researching the issue, and no remedy on the horizon, my husband decided to initiate a vehicle transfer. On 8/3/2022 he test drove a 2022 BMW X5 M50i and we both were ecstatic with the performance. He custom built and custom ordered a 2023 model. The only issue maybe with the financing. We plan to fight to receive the same 1.9% interest rate on the new vehicle. We entered into the original agreement in good faith, only to be informed after 3 weeks of ownership that the vehicle was defective, and could have caused a "Thermal Event." I owned two X5's with M packages, but the M50i with the V8 engine is truly in a different league. My husband was disappointed with the recall, but he had grin on his face when he pushed the M50i to 110 mph.

 

[JPFlorida]

Hi,
Were you able to get the same 1.9 % financing? Im about to initiate the buyback as well. 2 weeks on the lot and not even touched. They told me yesterday that "they cant offer a buyback at this time-----However, I know that at the 30 day mark they will have no choice. I preemptively called BMW finance to inquire about what is called a "substitution" which means that they would simple swap out the car with a new one and not touch anything regarding the existing loan. They only thing they would do is charge a usage fee for the old car, which equates to .10 cents per mile. Im hoping that they either do this or honor my existing rate if I have to do financing all over again, as interest rates are so much higher now

 

[PJT10]

Hi,
Were you able to get the same 1.9 % financing? Im about to initiate the buyback as well. 2 weeks on the lot and not even touched. They told me yesterday that "they cant offer a buyback at this time-----However, I know that at the 30 day mark they will have no choice. I preemptively called BMW finance to inquire about what is called a "substitution" which means that they would simple swap out the car with a new one and not touch anything regarding the existing loan. They only thing they would do is charge a usage fee for the old car, which equates to .10 cents per mile. Im hoping that they either do this or honor my existing rate if I have to do financing all over again, as interest rates are so much higher now

My husband's replacement vehicle is an ICE. He had to pay a higher interest rate for his 2023 BMW X5 M50i, but he was fine with that. My husband's Buy Back went well. He is still waiting for his excise tax refund from the MVA. As long as BMW makes you whole. That was our bottom line. Since my iX50 was not on the recall list. I am doing my own "Buy Out" process. BMW Finance received my payoff check yesterday via Fedex. When I receive my title, I will be selling my iX50 to one of two local retailers. I ordered a 2023 BMW X6 M50i, which should be delivered by the end of the year. You are absolutely right, the interest rates have skyrocketed. The latest rate through BMW Finance is 4.79%/60mos. I want to put this entire journey into the EV world behind me ASAP.