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"41k car for 560/mo" ... college grad, EuroDeliver (archive)
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Posted by (m) Brian on November 27, 2000 at 03:46:13:

In Reply to: Re: I was in similar place as you: graduated in posted by Benjamin on November 27, 2000 at 01:33:37:

Benjamin,

Basically, the college grad program let me qualify for the car and European Delivery got me the price.

(If you're not familiar with EuroDelivery, check www.bmwusa.com or the FAQ here.)

So, the college grad program means that by virtue of your recent (within the last 6 months, I think....but not sure) graduation, you are not subjected to their normal credit criteria. Instead, it's more like "you graduated? ok you qualify" ... BUT ... my dealer told me that it was only for like 25k ... but that there were exceptions for as high as 32k... then somehow it worked out anyway for my car even though it was more than both of these #s. I'm not complaining though, haha.

The college grad program applies for both leasing and financing. BMW's financing rates are pretty atrocious based on what I've read here -- 10-11% is the norm. I got a lease money factor that corresponds to an interest rate of 8.76% .. not a steal but not a ripoff with today's rates.

....the main reason that my price is that cheap is that I got the car based on European Delivery price ($2k over ED invoice)....but another reason why BMW's online calculator will show high #s is that it's based on US MSRP. So the prices there will be higher even if you dont do do European Delivery (since your price would likely be somewhere between US invoice and US MSRP), but MUCH higher than the prices you could get via EuroDelivery.

EuroDelivery sounds like a hassle but it's pretty cool ... my total cost was going to be around 1k (to save 5k off US MSRP) for airfare and 4 nights hotel-stay....but now it's been integrated into a business trip so I dont have to pay for anything....except the car ... haha.

Good luck.


Yo brian, any way you can tell me more about this BMW college grad program? and how the heck did you end up with $560 a month for a 41K car with hardly any down payment? using the lease calc. with no down payment for 36 months, 10K/year, it's way more than $700.

I'd really appreciate your insights on this. good to know someone else in the same situation. i could use your advice.

thanks, bro.




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