Consumer Car Buying Advice Blog

The company that brought you the Ultimate Driving Machine enters the rebate wars with a program that promises to make your first two payments even on models with subvented finance rates.

Carve up the roads while cutting down on your payments

For a while last year, it appeared that the luxury car segment would avoid the general sales meltdown that the rest of the manufacturers were experiencing. But while most of them managed to avoid a sales slide during the run-up in gas prices, the financial meltdown in the second half of 2008 was a minefield too wide and too deep to be avoided.

Now BMW has realized, as have most manufacturers, that special interest rates are just not enough anymore. As the domestic 3 have aligned themselves with credit unions all over the U.S., offering employee pricing with competitive finance rates, BMW has decided to ratchet it up a notch by offering, for its most qualified buyers (which most seem to be), the first two payments gratis on the company.

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Here is the press release:

Woodcliff Lake, NJ - February, 2009… BMW USA is introducing a two payment program for select models throughout its vehicle line-up. In this initiative, BMW will make the first two payments (up to $750 per month / $1,500 max.) for vehicles financed through BMW Financial Services.
The program is available for 18 different BMW models, including a choice of BMW 1 Series, 3 Series, 5 Series, 6 Series, and X5 models.

The offer can be combined with current APR financing offers ranging from 0.9% to 3.9%. For two of BMW’s most popular models, the 328i and the 528i (both rear wheel and xDrive versions; 2009 models), APR financing of 0.9% for up to 60 months is available through March 31.

The program started on February 4 and will end on March 2 for remaining 2008 models. For 2009 models, the program ends on March 31.

According to Peter Miles, Executive Vice President, Operations, BMW of North America, BMW does not plan to continue these offers later during the year. Miles: “We are sending a signal to car buyers that this is a great time to shop for a new vehicle. With its unique 4-year/50,000 mile free maintenance program and good fuel economy BMW has always had a good value story. And with these finance offers on top, there has never been a better time to get into a new BMW”.

The Bottom Line

With even the most qualified buyers sitting on the sidelines and waiting for a better offer, the latest program from BMW may not be the “ultimate”, but it might just entice a few more buyers into their showrooms.

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