College Graduate Lease Program

March 19th, 2019 by

BMW Financial Services is delighted to announce the continuation of the Lease/APR Incentive for the College Grad program! Recent College graduates those from various colleges and Universities, for example, Stony Brook University or NYU, are eligible for Lease/APR Incentive of $1,000 towards the lease or finance of any Certified, Pre-Owned BMW. This $1,000 incentive can be used in conjunction with that month’s available Lease/OC/Select/ Retail Sales Support or Regional programs. It is our hope that this program will build personal relationships and long-term business opportunities with a newer, younger generation of BMW enthusiasts.

Program Details:

  • $1,000 towards the Lease or finance of a certified pre-owned BMW
  • Super Elite rate for all Standard Plus customers and up.
  • Advance based on FICO score and income
  • Security deposit waiver, unless stipulated by credit
  • Applicable to certified Pre-owned vehicle contracts

Program Criteria:

  • Graduation from an accredited college or university, within the U.S., with an Undergraduate, Graduate, or Associate’s Degree earned within the previous 24 months or eligibility for graduation within the next 6 months, with a verifiable offer of employment
  • A copy of the graduate’s diploma or official transcript
  • POI or employer letter with the Human Resources title, and income.
  • At least 6 months of credit file- no previous derogatory credit on any trades
  • Gross debt to income ratio of less than 45%
  • Gross automotive payment to income ratio of less than 20%- Security deposit waived unless stipulated by credit.

Program Eligibility

  • Customers must purchase or lease a qualifying CPO BMW from an authorized BMW dealer.
  • If a co-signer is included on the credit application, in order to qualify for this incentive, the graduate still must meet all of the program criteria.
  • BMW College Grad Incentive is non-transferable to other family members or friends outside the household.

Program Guidelines

  • Customers need to meet the requirement set by BMW FS for program criteria
  • Customers must contract through BMW Financial Services using a Lease, Prepay Lease, OwnersChoice, Select, or Retail Finance Contract. $1,000 College Grad Incentive can be used with either Sales Support or Regional Rates.
  • College Grad Incentive is available for all CPO BMW purchases between 1/3/2019 to 1/2/2020 and RDR’d through DCSNet by 1/2/2020
  • $1,000 College Grad Incentive can be used in conjunction with any applicable cash programs unless specifically excluded in the program details.
  • An application must be submitted to the Credit Department as a College Grad Application in Infobahn to qualify.

To Receive Payment

  • The College Grad Lease/APR Incentive form on the following must be included in the funding package to receive payment. Failure to submit proper documentation will result in non-payment.
  • The $1,000 Lease/APR Incentive must be properly disclosed on the Lease, Prepay Lease, OwnersChoice, Select, or Retail Contract. Failure to properly disclose will result in non-payment of Lease/APR Incentive
  • Self Serve Funding IS available for these contracts
  • The Lease/APR Credit Payment will be made by BMW Financial Services at the time of contract approval, once the disclosures have been verified. The Lease/APR Incentive will be added to your dealer advance at the time of funding. Please contact BMW FS immediately if the Lease/APR Incentive is not included on your dealer advance.

At Competition BMW of Smithtown, we are happy to assist college graduates in finding a BMW they will love. Call us at (888) 861-6280 for more info or Visit our dealership at 599 Middle Country Rd. Saint James, NY 11780!

Your new BMW awaits! 

 

Posted in 2019, BMW, New Inventory, News, Social