Quote:
Originally Posted by mikesarvis
So you are saying you cannot pay off the loan early like on the next month?
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You can pay off, but probably not the next month. There is always fine print governing the amount of time you have to carry the loan before you can pay it off and not void the rebate. So read the fine print and make sure the interest you accrue in that time period won't eat into the rebate savings too much.
With BMW I have seen both a minimum amount that can be financed, as well as a minimum term before the payoff. The bottom line is that they set it up so that you can't get the rebate "for free" by signing up for and then paying off the loan immediately, or transferring the loan to another lender.
Based on the minimum amount of the loan and the required period of time you have to carry the loan (may be expressed as number of regular payments required) BMWFS is probably going to make at least $250-500 in interest.