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I did some googling on this since I couldn't find the fine print on BMW's website -- it's probably not something you see until you get the actual contract.
Sounds like there is still a minimum loan amount -- saw $10K mentioned several times -- but no payoff time requirement or prepayment penalty. But if you pay off the loan before a certain time (5-6 months was mentioned) then the rebate gets charged back to the dealer and any commissions the finance and sales staff made on that rebate deal also get charged back. So the dealer gets screwed a bit and the finance/sales guys get screwed, but not you.
I'd still suggest reading the fine print thoroughly, as I will. And I probably wouldn't mention it to anyone if you plan to do a temporary loan just to get a rebate. I saw some people suggest pay all of the loan off except $10, then carry that for 5-6 months before paying it all off. That way nobody gets screwed. But this was all internet information so who knows. Would be good to hear from someone from BMW or a dealership who can tell us their side of the story.
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