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      09-17-2017, 12:44 PM   #23
cornercase
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Originally Posted by BAN_M2 View Post
I would only do that amount of months if the interest rate was very low.

I did 72 months because it was 0.9%

On used cars its a different story, 3.45% at 75 months to keep payment low with no penalty of paying more or paying off before is usually what a solid credit union will offer you.

PenFed offered me 1.49% on a USED car loan but at 2 years it would have a higher payment than the M2.
Where did you find 0.9% for 72 months? The lowest I've found for a new vehicle is 1.49% for 48 months.
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      09-17-2017, 12:47 PM   #24
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Quote:
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Quote:
Originally Posted by BAN_M2 View Post
I would only do that amount of months if the interest rate was very low.

I did 72 months because it was 0.9%

On used cars its a different story, 3.45% at 75 months to keep payment low with no penalty of paying more or paying off before is usually what a solid credit union will offer you.

PenFed offered me 1.49% on a USED car loan but at 2 years it would have a higher payment than the M2.
Where did you find 0.9% for 72 months? The lowest I've found for a new vehicle is 1.49% for 48 months.
Right time and right place apparently. A handful of people reported getting this offer.

Was around June 2016 when I was getting my builds VIN number to finalize my 1.49% with PenFed and BMWFS offered me 0.9% at 72 months so took it.
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      09-17-2017, 12:50 PM   #25
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Originally Posted by BAN_M2 View Post
Right time and right place apparently. A handful of people reported getting this offer.

Was around June 2016 when I was getting my builds VIN number to finalize my 1.49% with PenFed and BMWFS offered me 0.9% at 72 months so took it.
Wow. The best I'm getting right now with BMW FA is 3.24%. Signing docs today, so hopefully things change.
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      09-17-2017, 01:58 PM   #26
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Originally Posted by bimmer4life24 View Post
2.29% on a 84-month term is pretty low. Which credit union offers that?
I have a spreadsheet on my work computer that I will check on Monday and let you know. Now that I think about it, it may have been 2.49% on an 84-month loan, can't quite remember. In any event I'll let you know on Monday.
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      09-17-2017, 02:01 PM   #27
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I got 1.99% on 72mos via the University Credit Union in LA (I'm a UCLA alum)
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      09-17-2017, 02:35 PM   #28
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And thereís a large subset of people that couldnít imagine a loan at all. So those in here who didnít pay cash telling OP that a 84 month loan means he canít afford it should mind your own beezwax....maybe?

Threads like these always turn people into overnight CPAs and encourage them to talk about their superior position on the loan repayment hierarchy.

How about you guys answer OPs question instead of shaming him with your drive by passive aggressive comments and lecturing a grown ass man about the donts of financing.

Last edited by OCfromOC; 09-17-2017 at 02:43 PM.
      09-17-2017, 08:57 PM   #29
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Wow. The best I'm getting right now with BMW FA is 3.24%. Signing docs today, so hopefully things change.
Yikes, 3.31% at 60 months is the best BMWFS could do on the M2. I'll be delivering a check to the dealer from a credit union at 1.49% in 48 months.

For the OP: my credit union has an 84 month loan at as low as 2.74% with auto pay.
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      09-17-2017, 09:11 PM   #30
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Quote:
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My credit union has an 84 month loan at as low as 2.74% with auto pay.
Which CU is that?
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      09-18-2017, 02:02 PM   #31
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Which CU is that?
KeyPoint Credit Union in Santa Clara, California.
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      09-18-2017, 02:06 PM   #32
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KeyPoint Credit Union in Santa Clara, California.
Thanks very much, that's very helpful. I work in Santa Clara, so I'll go check them out.
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      09-18-2017, 02:16 PM   #33
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Quote:
Originally Posted by bimmer4life24 View Post
This.

Again, I can easily do a 72 month loan, even a 60 month. But I would rather keep my monthly payments low on a car that holds its value well, and put my money elsewhere. In addition, the car will be tax deductible for my business. Unlike a lease where the monthly payments get deducted, a percentage of the purchase price is what gets deducted instead. So I appreciate the financial advice from others here, but I got that covered already
Do whatever you choose, but for a car that keeps its value, paying more sooner puts you more on top. Your tax deduction is a moot point as it is based on the purchase price of the car, not the loan.
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      09-18-2017, 03:56 PM   #34
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Thanks very much, that's very helpful. I work in Santa Clara, so I'll go check them out.
They're painless. I submitted everything online yesterday night and got an approval by 11 AM the next business day. Good luck!
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      09-18-2017, 06:18 PM   #35
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Ok, I just checked. Apparently I was offered 1.99% for an 84 month loan by University Credit Union in LA.
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      09-18-2017, 06:22 PM   #36
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Quote:
Originally Posted by Xtianh View Post
Ok, I just checked. Apparently I was offered 1.99% for an 84 month loan by University Credit Union in LA.
Wow that's almost free money. Wish I could join but I won't be eligible since I'm not an alum over there. My university only offers 1.99% up to 60-months.
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      09-21-2017, 12:30 PM   #37
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My BMW dealer is offering 1% for 72Months. I think I"ll take it!
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      09-21-2017, 12:43 PM   #38
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My BMW dealer is offering 1% for 72Months. I think I"ll take it!
Is that through BMW FS?
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      09-21-2017, 12:44 PM   #39
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My BMW dealer is offering 1% for 72Months. I think I"ll take it!
How is this even possible? Lol
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      09-21-2017, 12:58 PM   #40
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Dont know but there are signs all over his inventory offering .9 for 72.
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      09-21-2017, 01:37 PM   #41
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Dont know but there are signs all over his inventory offering .9 for 72.
Are you sure this is for the 2018 M2??
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      09-21-2017, 01:45 PM   #42
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Asked my C/A if .9 for 72 was available for my M2. He came back 10 minutes later and said no. I told him I would go with my Credit Union which was offering 1.9% with 1% cash back at signing loan. He called me back and said he could get 1% 72 BMWF.
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      09-21-2017, 01:47 PM   #43
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Quote:
Originally Posted by chief1richard View Post
Asked my C/A if .9 for 72 was available for my M2. He came back 10 minutes later and said no. I told him I would go with my Credit Union which was offering 1.9% with 1% cash back at signing loan. He called me back and said he could get 1% 72 BMWF.
Lucky! Sign that paper right away!
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      09-21-2017, 02:33 PM   #44
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Check your local credit unions and see if you qualify to join. Mine offers 1.9% for up to 72 months.
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