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      11-23-2012, 10:10 AM   #1
uisyam
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College Graduate Incentive Question

Hi folks,

I'm planning to custom build my 2013 328i with the college graduate incentive. I figure custom build would take at least 8 weeks to get here. But I actually graduated in December 22, 2011(my commencement's date). If I order one now, will I still be able to apply the incentive to my purchse? I would also want to ask if you guys have any idea how they verify it. And how they determine the one year period. Do they take the commencement date or the last day of class?

Thanks in Advance!!!
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      11-23-2012, 10:31 AM   #2
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You'll need to ask your dealer. No matter what anyone here tells you, it will ultimately be up to the dealer.
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      11-23-2012, 11:26 AM   #3
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Quote:
Originally Posted by maysiu View Post
Hi folks,

I'm planning to custom build my 2013 328i with the college graduate incentive. I figure custom build would take at least 8 weeks to get here. But I actually graduated in December 22, 2011(my commencement's date). If I order one now, will I still be able to apply the incentive to my purchse? I would also want to ask if you guys have any idea how they verify it. And how they determine the one year period. Do they take the commencement date or the last day of class?

Thanks in Advance!!!
From my experience, they want a copy of your transcript (unofficial of course) and the number of the registrars office. Whether they actually follow up is anyone's guess. Therefore, I think they are looking for the date of degree conferral.

The other benefit of the CG incentive is getting approved at the lowest financing rate without much credit/income history. This would be locked up for 60 days after approval, so I'd think you would get this given your timeline.

I'm not the most well versed in incentive programs, but I'd guess SamS is right and it all comes down to the dealer and how you go about negotiating the price.
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      11-23-2012, 11:37 AM   #4
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i just gave my dealer a copy of my graduate diploma.
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      11-25-2012, 02:19 PM   #5
uisyam
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Just got back from the dealership and they now said in order to get the college graduate incentive, I will have to finance with BMW FS. Is that true?

Thanks
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      11-25-2012, 02:52 PM   #6
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Originally Posted by maysiu View Post
Just got back from the dealership and they now said in order to get the college graduate incentive, I will have to finance with BMW FS. Is that true?

Thanks
yes
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      11-25-2012, 10:31 PM   #7
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there are certain guidelines that you have to meet to qualify for the college grad program.
you must provide a copy of your degree or transcripts. you also have to have a letter form your employer or an offer letter of you haven't graduated yet. there are also a couple other minor things too.
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      06-06-2013, 06:51 PM   #8
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Random bump.

Does the college incentive apply if the graduate is a cosigner (ie not the primary)? My dealership says no. :|
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      06-06-2013, 07:11 PM   #9
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From BMWs website.......You've studied hard, college is behind you, and now it's time to get behind the wheel of The Ultimate Driving Machine®. BMW has made it easier than you might think with a special program offered exclusively to qualifying college graduates. If you've recently graduated — or are about to graduate — you're eligible for a $1,000 incentive, plus our best available rates when you lease or finance a New 2013 or 2014 BMW. Customers looking to purchase a Certified Pre-Owned BMW are eligible for a $750 incentive.

You're eligible if:

You've earned an undergraduate, graduate or Associate's degree from an accredited college or university within the previous 12 months OR you are eligible to graduate within the next 4 months and have a verifiable offer of employment.

You have at least 24 months of credit history with no major derogatory entries.

To learn more about this special offer, including any additional program requirements, please visit a BMW center near you!



Offer subject to credit approval and verification of graduation and employment. Recent graduate means graduation from an accredited college or university with an undergraduate or graduate degree earned within the previous 12 months. To qualify, you must have a minimum of 24 months of credit on file and no previous derogatory credit on any held credit trades. Finance and lease terms based on credit score. Program subject to change. See your BMW Client Advisor for most current Program. ©2013 BMW Financial Services NA, LLC. The BMW wordmark and BMW logo are registered trademarks of BMW AG.
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      06-06-2013, 10:57 PM   #10
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Quote:
Originally Posted by xshadowwolfx View Post
Random bump.

Does the college incentive apply if the graduate is a cosigner (ie not the primary)? My dealership says no. :|
I'm going to say no, just because you're not the primary on the car. If it were vice versa, clearly yes.

IMO you're CA is right
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      06-07-2013, 03:21 AM   #11
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Quote:
Originally Posted by xshadowwolfx View Post
Random bump.

Does the college incentive apply if the graduate is a cosigner (ie not the primary)? My dealership says no. :|
They are correct. You have to be the primary to qualify
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      06-07-2013, 07:03 AM   #12
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I doubt they actually follow up with the registrar's office for this stuff. Also I don't think the school is allowed to release any sort of information regarding your graduation, grades, etc to anyone else except you (unless you authorize it but, again, I doubt they make you go through that process).
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      06-08-2013, 12:06 AM   #13
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Quote:
Originally Posted by phx08 View Post
I doubt they actually follow up with the registrar's office for this stuff. Also I don't think the school is allowed to release any sort of information regarding your graduation, grades, etc to anyone else except you (unless you authorize it but, again, I doubt they make you go through that process).
Unfortunately, they can easily check the National Student Clearinghouse to see your education records.
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      06-09-2013, 02:27 PM   #14
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I just tried to get this incentive, they are sticklers about it. I have a credit score of 735 and was turned down because I had a small collections ($30) on my credit from my kids not returning a library book in on time.....I had no idea it was on my credit. That little ding was enough for them to say no.....seems a little odd to me.
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      06-11-2013, 12:08 AM   #15
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Quote:
Originally Posted by LT Coastie View Post
I just tried to get this incentive, they are sticklers about it. I have a credit score of 735 and was turned down because I had a small collections ($30) on my credit from my kids not returning a library book in on time.....I had no idea it was on my credit. That little ding was enough for them to say no.....seems a little odd to me.
Can't have any missed payments or marks in the past 2 years, even for something so minuscule.
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      06-11-2013, 11:49 AM   #16
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Quote:
Originally Posted by LT Coastie View Post
I just tried to get this incentive, they are sticklers about it. I have a credit score of 735 and was turned down because I had a small collections ($30) on my credit from my kids not returning a library book in on time.....I had no idea it was on my credit. That little ding was enough for them to say no.....seems a little odd to me.
Were you denied by the dealer of BMW FS?

I would call BMW FS directly if they were holding things up. Obviously that's stupid.
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      06-11-2013, 12:54 PM   #17
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Originally Posted by dwalls90 View Post
Were you denied by the dealer of BMW FS?

I would call BMW FS directly if they were holding things up. Obviously that's stupid.
BMWFS makes the decisions on approvals or declines. Dealers have nothing to do with it
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      06-12-2013, 02:54 PM   #18
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Quote:
Originally Posted by Jason335iMsport
Quote:
Originally Posted by dwalls90 View Post
Were you denied by the dealer of BMW FS?

I would call BMW FS directly if they were holding things up. Obviously that's stupid.
BMWFS makes the decisions on approvals or declines. Dealers have nothing to do with it
No, it was BMW FS. My dealership has been great an they are doing everything to keep my deal as agreed prior to the build. I think it just means they aren't making as much money as they could have if the incentive was approved.
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      06-12-2013, 05:50 PM   #19
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Quote:
Originally Posted by LT Coastie View Post
No, it was BMW FS. My dealership has been great an they are doing everything to keep my deal as agreed prior to the build. I think it just means they aren't making as much money as they could have if the incentive was approved.
So you were denied the incentive but approved for financing?
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