Quote:
Originally Posted by kimnle
Anyone seen the pricing guide for Canada? I'm curious to know about the changes for Canadian customers.
I'm in a bit of a situation right now. I was able to negotiate a price for a 2015 M235i in late May, and signed the purchased agreement.
About 4 days later, the dealership contacted me to inform me that they were no longer able to order a 2015 model. Instead, I had to order a 2016 model. Here's the problem - the financing rates that I was able to obtain was 1.9% (special offer on the 2015) - we are not as lucky as the Americans. With the new quote that I received for the 2016 model, the rate jumped to 5%.
The deal is on hold now  - the dealership is trying to find out find a way to honor the original rate as per the purchase agreement. What are my chances?
This is my first post - apologies if I broke any rules/. |
I am also in the same situation. Because the rates are controlled by BMW Finance, the dealerships can't guarantee you any rate. I'm dealing with Serpa BMW in Newmarket.
The way it was explained to me was that because I ordered an M235i with the 6MT, an uncommon configuration (the XDrive with 8AT being most common), the production may be delayed due to BMW "waiting" for enough manuals to be ordered before they will commit to production.
Apparently the new rates won't be officially released until August when the first 2016 cars will be shipped (M235i's with XDrive/8AT) to dealers. You can place an order now, but once the car goes into production, you could be "stuck" with the car regardless of the rates.
Now, if a dealer has put it in writing that you can walk away if the rates are not satisfactory, they will still have to take delivery of the car themselves and try to sell it.
My dealership stated that they will not put something like that in writing for me because they would have a difficult time selling a fairly minimally optioned RWD manual M235i, which is what I want. If I wait until August to see what the rates are, I may have to wait until November or even later for delivery.
Since their current highest rate is 5.9% for the X5 (their most in demand model apparently), the new rate for the 2 series will like be less than 5%.
I decided to order the car and take my chances. It could cost me as much as $50 a month extra (leasing), but it is a more "valuable car" (earlier in the model year), and I'm not sure rates will be much lower until late in the 2016 model year. I figure the rate will likely be 4.9% at the worst and could be as low as 2.9-3.9%.
I really like the car and I personally love the car and will pay more for it if I have to, but I agree it's not fair. The reality is that BMW Finance will not make exceptions for those of us pushed from 2015 to 2016 production.