$2,000 Series 7 Military Incentive

[DroMike]

I'm about to pre-order my i7. Because they advertised, "BMW Stands With You," I applied for and received a redemption code for their $2,000 Military Incentive.

I've been monitoring the expiration dates of the incentive since May, and noticed that the day after an expiration date comes up, they simply publish a new one that expires roughly a month later. For example, for the last 4-6 weeks, that date was September 4th; but the day after, it was readjusted to expire October 2nd.

Two questions then:

1. What is BMW's strategy in extending the incentive by only a month or so at a time, as opposed to a longer period (e.g., 6 mos. or a year)?; and

2. Is there any reason to believe that in 2024 BMW will no longer "Stand With [active duty, veterans, etc.]" and/or the Military Incentive will be terminated?

Mike

[DroMike]

Am I to presume that nobody has any experience with or opinion about this whatsoever...? Are there no veterans here or did you simply not know, or avail yourself, of the incentive?

[DJCingular]

Hey Mike...I can speak on this. Dating back to when I was stationed in GE, BMW has always offered their "stands with you" PROMO. But to be clear its only 2K is you purchased outside of BMWFS. I recently found this out earlier this week, when the dealer informed me that it was only worth $500. For my confusion, they still offered to tint the vehicle and include all weather mats to make up the difference.

[AlteBMW]

Originally Posted by DroMike

Am I to presume that nobody has any experience with or opinion about this whatsoever...? Are there no veterans here or did you simply not know, or avail yourself, of the incentive?

It does look like a nice discount, and looks like now it is available to veterans as well as active duty, so thank you for pointing this out. It got me looking it up and the description explicitly says i7 is not covered and when I bought my 760 it was not covered. They limit it to certain models. The USAA discount I have gotten in the past was on any model but USAA doesn't do it for BMW (or MB) any longer.

[DroMike]

Thanks guys. I actually wasn't aware that the incentive wasn't good if you used BMW FS, but I will not be using them. Actually I just put in my factory order MINUTES ago and am the proud owner of a VIR with an actual Production Number (the car will be here Dec/Jan)!!

But AlteBMW, I did want to respectfully correct you. Certainly, I've also seen before that the rebate specifically excluded i7s. HOWEVER, if you look at the latest incantation (re-printed below) it now INCLUDES i7s! From their Offers and Incentives section below the Summary on the configurator (then click on "BMW Military Program"):

"When new MY23/MY24 BMWs are purchased with cash or financed with financial institutions other than BMW FS, eligible customers receive $1000 on 2/X1/X2, $1500 on 3/4/i4/X3/X4/Z4, $2000 on iX/i7/i5/5/7/8/X5/X6/X7/XM.

Eligible customers include Active Duty, Veterans, Retirees, and Reservists. Qualification for the incentive offer requires verification through ID.me to generate an Offer Code. Customer must take delivery by October 2, 2023." [Emphasis added.]

Of course they keep extending the "must take delivery" date, and they COULD again exclude the i7, but if you bought one off the showroom floor today, you'd be golden!

[AlteBMW]

Originally Posted by DroMike

Thanks guys. I actually wasn't aware that the incentive wasn't good if you used BMW FS, but I will not be using them. Actually I just put in my factory order MINUTES ago and am the proud owner of a VIR with an actual Production Number (the car will be here Dec/Jan)!!

But AlteBMW, I did want to respectfully correct you. Certainly, I've also seen before that the rebate specifically excluded i7s. HOWEVER, if you look at the latest incantation (re-printed below) it now INCLUDES i7s! From their Offers and Incentives section below the Summary on the configurator (then click on "BMW Military Program"):

"When new MY23/MY24 BMWs are purchased with cash or financed with financial institutions other than BMW FS, eligible customers receive $1000 on 2/X1/X2, $1500 on 3/4/i4/X3/X4/Z4, $2000 on iX/i7/i5/5/7/8/X5/X6/X7/XM.


Eligible customers include Active Duty, Veterans, Retirees, and Reservists. Qualification for the incentive offer requires verification through ID.me to generate an Offer Code. Customer must take delivery by October 2, 2023." [Emphasis added.]

Of course they keep extending the "must take delivery" date, and they COULD again exclude the i7, but if you bought one off the showroom floor today, you'd be golden!

Good correction. Thanks. I wonder why the rebate is not available if you use BMWFS.
Too late for me, but next time I will have a look at that as I qualify through ID.me. Off topic for here but through ID.me you can get 10% off almost all hardware in the Apple Store

[DroMike]

Originally Posted by AlteBMW

Good correction. Thanks. I wonder why the rebate is not available if you use BMWFS.

You're welcome. Still, your post that it wasn't available earlier is well-taken. I'm thinking they may be a little mercurial with the application of this and it may come and go (for the i7). Right now, it's on again, and HOPEFULLY will still be valid when I close the deal. Additionally, yes - I ALSO wonder whey it isn't available if you use BMWFS (which I definitely won't be using).

[CaboM4]

Mike ... if you plan to purchase the i7, why not lease it through BMWFS, and then buy it out in 14-30 days once your finance account is setup?

You will get $7500 EV Lease cash instead of $2000 Military incentive. With paying the $925 lease acquisition fee, you are still netting ~$4600 in additional savings this way

[DroMike]

Attachment 3274368

Originally Posted by CaboM4

Mike ... if you plan to purchase the i7, why not lease it through BMWFS, and then buy it out in 14-30 days once your finance account is setup?

You will get $7500 EV Lease cash instead of $2000 Military incentive. With paying the $925 lease acquisition fee, you are still netting ~$4600 in additional savings this way

I researched with various online lease calculators and interfaced with my dealer. While the lease IS available to me, between the convoluted and somewhat drawn out financing it entails along with the early termination fee, the savings turns out only to be moderately better. And frankly, the management of the lease mechanism is something I little care to deal with. I ultimately prefer the much cleaner cash payment option at the discount I requested with the military incentive intact. With that, it's just a second trip to the dealer to pick up my ordered car, then zip-zing, I drive off into the sunset with my i7 and title in my pocket.

I DO however, appreciate your thinking-out-of-the-box!

[DroMike]

[redacted]

[CaboM4]

The Military incentive as well as the EV "lease credit" continue to get extended month after month throughout 2023, and I would expect it to continue into the holidays, but obviously no guarantee! For the iX, it was even INCREASED from $7500 to $9900.

This is 100% legit and legal, and I would argue ethical. The finance company gets the federal tax credit for every vehicle they buy. Your lease agreement allows you to purchase it at any time for a fixed residual amount, PLUS the unearned Principal payments on your lease. Another way around the income thresholds and final assembly requirements that would otherwise both deem me and my i7 ineligible for the individual taxpayer EV credits.

The $$ given to you by BMW is termed an "lease credit" and has nothing to do technically with the money they are getting from the feds. In most instances, the finance companies are simply passing through 100% of the credit they receive on their corporate taxes for each eligible EV they purchase and giving it to you. It is simply applied to your lease as a capitalized cost reduction in the form of a finance company rebate. It is 100% guaranteed yours at the time you execute the lease agreement.

As for promotion locks, I would have the dealership run your credit application for a lease no more than 60-days prior to your expected delivery date. Money Factor as well as all promotional credits offered are locked in at time of credit approval.

I already did this exact play last year with my mother's i4, and worked as intended This was when we were only getting MSRP and nothing below, so this was an awesome "hack" on a vehicle we were going to purchase anyway.

[DroMike]

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