[XProject]

What is your APR on your M2?

I know that some dealer is doing 0.9% on new BMW. I'm just trying to find one that close to me. So far, no luck.

Let me know. Thanks!

[OGM2]

Originally Posted by XProject

What is your APR on your M2?

I know that some dealer is doing 0.9% on new BMW. I'm just trying to find one that close to me. So far, no luck.

Let me know. Thanks!

Wasn't able to get 0.9% but got 1.90% (72 mo.). Up until now the going rate from BMW financial seemed to be about 3.49% so this must be a recent development. I'm not certain but if the financing is through BMW Financial I don't think the location makes a difference across the US.

[XProject]

BMWMTWO 1.9% is pretty good. I'm looking for low interest rate and wonder what rate other people are paying around Bay Area...

[Nezil]

Originally Posted by XProject

BMWMTWO 1.9% is pretty good. I'm looking for low interest rate and wonder what rate other people are paying around Bay Area...

I don't think anyone on here that lives in the Bay Area, including me, is buying or has bought their car up here. The dealers here are almost universally disliked, and they mark up all M2s by at least $5K, if not $10K. I'd therefore be surprised if they'd offer good terms for financing as well.

You'll have better luck looking further south. There are a few decent dealerships in the LA region.

Having said that, I don't think many people are able to get the 0.9% rate, because that is a promotional rate for ex-demo vehicles, and it isn't available every month anyway.

[Wharf Rat]

Originally Posted by Nezil

Having said that, I don't think many people are able to get the 0.9% rate, because that is a promotional rate for ex-demo vehicles, and it isn't available every month anyway.

My CA has told me that the M2 is excluded from the 0.9% rate. Currently he said it's 3.31% on the car, so he advised shopping around.

[XProject]

Originally Posted by Nezil

I don't think anyone on here that lives in the Bay Area, including me, is buying or has bought their car up here. The dealers here are almost universally disliked, and they mark up all M2s by at least $5K, if not $10K. I'd therefore be surprised if they'd offer good terms for financing as well.

You'll have better luck looking further south. There are a few decent dealerships in the LA region.

Having said that, I don't think many people are able to get the 0.9% rate, because that is a promotional rate for ex-demo vehicles, and it isn't available every month anyway.

Do you mind PM me the decent dealers around LA area? How did you process the loan application? Did you apply it online with the dealer or you went there to apply in person before you pick up the car?

[Nezil]

Originally Posted by XProject

Do you mind PM me the decent dealers around LA area? How did you process the loan application? Did you apply it online with the dealer or you went there to apply in person before you pick up the car?

Just give a few a call. I'm picking up later this week I hope (boat arrived yesterday) so I'll let you know after I've picked up who I ended up working with and how I get on.

I organised a local CU loan (KeyPoint CU has the best rates currently) and I'll have the offer letter in hand when I go to pick up. If BMW FS can do any better, I'll go with that, but I always have the 2.49% 72m offer on hand as the fallback.

[OGM2]

Originally Posted by Nezil

Just give a few a call. I'm picking up later this week I hope (boat arrived yesterday) so I'll let you know after I've picked up who I ended up working with and how I get on.

I organised a local CU loan (KeyPoint CU has the best rates currently) and I'll have the offer letter in hand when I go to pick up. If BMW FS can do any better, I'll go with that, but I always have the 2.49% 72m offer on hand as the fallback.

That's the same strategy I used. Before I told them I had a pre-approved loan they also quoted me about 3.31% for BMW Financial. I also had a money order in hand to pay it off but told them if they could get me below 2.49% (best I've seen quoted on this forum) I would finance through them. Magically they came back with 1.9% the next day. I suspect they had to play some tricks to get this as everything said in the above posts are in line with what they were telling me so the 0.9% ad 1.9% I got may or may not be available market wide.

[seanhaus]

If you're already set on the car but looking for an allocation yet, IMO it could just be worth it to deal directly with BMWFS during purchase, then refinance the car once you lock in a rate with another lender a couple of months after. While I paid outright for my M2 this time around, my wife was so stressed out when we were looking to purchase her car, rather than enjoying the experience of putting together a build and taking a new ride home. Two months later she locked in a really awesome refinance rate with a local CU and it was all set with minimal hassle.

[Beyond Help]

I just picked up my 18MY M2 today.

I got 0.9% for 60 months. I emailed dealer once car was on a ship to US about financing saying I found credit unions under 2% and if they can beat it. 2 days later I got a email that they can do .9 up to 60 or 1.9 up to 72. After talking to the finance guy today I was told they get ahold of corporate to see if they can make exceptions good credit is probably a must.

[XProject]

Thanks everyone for your input! I appreciate it!

Do you guys know if I can apply for the BMWFS loan with the dealer online before the car arrive?

The reason I'm asking is that the dealership is ~5-6 hr drive from where I live. I can't go there back and forth. The only time I'm going to the dealer is to pick up my car with the loan ready.

What would be the best option for me?

Originally Posted by Beyond Help

I just picked up my 18MY M2 today.

I got 0.9% for 60 months. I emailed dealer once car was on a ship to US about financing saying I found credit unions under 2% and if they can beat it. 2 days later I got a email that they can do .9 up to 60 or 1.9 up to 72. After talking to the finance guy today I was told they get ahold of corporate to see if they can make exceptions good credit is probably a must.

Did you apply with the dealer online or in person?

[Beyond Help]

Originally Posted by XProject

Thanks everyone for your input! I appreciate it!

Do you guys know if I can apply for the BMWFS loan with the dealer online before the car arrive?

The reason I'm asking is that the dealership is ~5-6 hr drive from where I live. I can't go there back and forth. The only time I'm going to the dealer is to pick up my car with the loan ready.

What would be the best option for me?





Did you apply with the dealer online or in person?

They had me fill out a app when I came in to leave a deposit for a 18MY months ago, but I know they can email you the app to fill out I did that for a previous BMW I purchased. You do not need to physically go to the dealership.

[ORIGIN M.]

No dealer has that pricing on an M Car through BMWFS.

[horsepower_and_hounds]

I contacted mine and he said no way...... I have to the beginning of the month to find good rates, then I have to do the paperwork and pay, my PCD is 11/08

[XProject]

Originally Posted by ORIGIN M.

No dealer has that pricing on an M Car through BMWFS.

If you ask around, you will find out that some people do get 0.9% APR on M cars.

Originally Posted by ehagerty

I contacted mine and he said no way...... I have to the beginning of the month to find good rates, then I have to do the paperwork and pay, my PCD is 11/08

A lot of the dealer will not give 0.9% not easy to find but it's out there haha...

I'm week #49

[ORIGIN M.]

Originally Posted by XProject

If you ask around, you will find out that some people do get 0.9% APR on M cars.

A lot of the dealer will not give 0.9% not easy to find but it's out there haha...

I'm week #49

You are telling yourself stories bro !

No rep for you.

[ORIGIN M.]

Originally Posted by ehagerty

I contacted mine and he said no way...... I have to the beginning of the month to find good rates, then I have to do the paperwork and pay, my PCD is 11/08

Correct.

OP is full of it. Not getting that rate from BMWFS.

I will PM you who I am most likely going with.

[XProject]

Originally Posted by ORIGIN M.

Correct.

OP is full of it. Not getting that rate from BMWFS.

I will PM you who I am most likely going with.

When did I tell you that I'm getting 0.9%? I'm just looking for the dealer that will likely give me low APR around Bay Area.

[ORIGIN M.]

Originally Posted by XProject

When did I tell you that I'm getting 0.9%? I'm just looking for the dealer that will likely give me low APR around Bay Area.

You said it is out there.

Not from BMWFS.

Try a CU.

[horsepower_and_hounds]

That dealer that is doing the .9 is using another lender not BMWFS. When I got my M235 in '14 my CU had 1.09 and the dealer came in with .66 thru TD Financial to keep my loan. So yes someone might be getting .9 just not with BMW

[XProject]

Originally Posted by ORIGIN M.

You said it is out there.

Not from BMWFS.

Try a CU.

I stand corrected. This one dealer said I can get 0.9% based on my credit score so I was assuming it's from BMWFS lol

Originally Posted by ehagerty

That dealer that is doing the .9 is using another lender not BMWFS. When I got my M235 in '14 my CU had 1.09 and the dealer came in with .66 thru TD Financial to keep my loan. So yes someone might be getting .9 just not with BMW

I see. Thanks!

[Beyond Help]

BMWFS can get your .9 APR for the M2 I got it this Monday..... I can post a picture of the contract and a screenshot from BMW homepage login with BMWFS linked to the account with the loan on there. Dealers obviously prefer giving you a higher apr since it’s always about $$$$