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      09-21-2017, 02:54 PM   #45
Nezil
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I've applied for 2.49% at my local CU, it was the best I could get, and I wanted to lock it in before rates increased.

I'll reach out to my CA and see if he can get the 1% from BMWF.
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      09-21-2017, 05:17 PM   #46
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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.
Any idea if that's a regional offer?
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      09-21-2017, 05:40 PM   #47
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I honestly don't know.
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      09-22-2017, 08:19 AM   #48
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Quote:
Originally Posted by Tumbleweeds78 View Post
Check your local credit unions and see if you qualify to join. Mine offers 1.9% for up to 72 months.
OAC
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      09-23-2017, 02:34 PM   #49
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Originally Posted by cornercase View Post
KeyPoint Credit Union in Santa Clara, California.
I recommend them as well if you're in the bay area. The car loan person (Jan) was super helpful and I went with the 1.74% 60 mo option (auto payments will get you a .25% discount off their advertised rates).

https://kpcu.com/personal/consumer-l...uto-loans#tab3
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      09-23-2017, 05:31 PM   #50
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Been looking around as well, though not likely for a 7-year note.

Some of the lenders or CUs cited here have advertised higher rates than local banks. I'll investigate Key Point, thanks for the tip. 1.99% sounds good
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      09-23-2017, 06:07 PM   #51
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1.75% for 72 months at a Florida credit union. Bmw wouldn't match, best they could do was 2.99% :
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      09-23-2017, 08:48 PM   #52
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Originally Posted by dasblack View Post
1.75% for 72 months at a Florida credit union. Bmw wouldn't match, best they could do was 2.99% :
Would you mind disclosing name of this credit union? Seems very competitive.
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      09-25-2017, 10:39 AM   #53
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Quote:
Originally Posted by uclagee View Post
I recommend them as well if you're in the bay area. The car loan person (Jan) was super helpful and I went with the 1.74% 60 mo option (auto payments will get you a .25% discount off their advertised rates).

https://kpcu.com/personal/consumer-l...uto-loans#tab3
Thanks for the heads up! Lowest I was able to find locally before this was 2.24%. Did you happen to handle your application online or did you do it in person?
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      09-25-2017, 12:41 PM   #54
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Originally Posted by just blaze View Post
Thanks for the heads up! Lowest I was able to find locally before this was 2.24%. Did you happen to handle your application online or did you do it in person?
Completely online.

On Sunday night, I submitted my application and photos of the Sales Contract, proof of insurance, dealer's finance manager business card and my photo ID. I also applied for and funded the checking account after I submitted my auto loan application on Sunday, and my checking account was instantly approved.

On Monday, they approved my loan and requested my most recent pay stub, clearer photos of my Sales Contract, and the front windshield sticker temporary auto registration. Funds were overnighted and delivered to the dealer by Tuesday morning.

There's a chat function on their website where you can easily communicate with your loan officer, where I set the auto pay billing date to the 28th of every month.

Not once did I say I was doing ED nor PCD. The checking account can be funded over 60 days, and I chose the Dividend Checking with $0 monthly fee if you maintain a $750 minimum average daily balance or direct deposit.

Last edited by cornercase; 09-25-2017 at 03:58 PM.
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      09-25-2017, 11:26 PM   #55
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Quote:
Originally Posted by just blaze View Post
Thanks for the heads up! Lowest I was able to find locally before this was 2.24%. Did you happen to handle your application online or did you do it in person?
Was able to get it all done online. After going through pre-approvals and such I just had to scan and send them a copy of my sales contract and they mailed the check over to the dealer.
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      09-26-2017, 11:52 AM   #56
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I sign my paperwork next week for my PCD on October 9th. Did you guys do these online CU applications before going in to the dealer to sign or did you see what BMW FS offered you before looking for alternate options? This is my first new car purchase and I want to make sure I go in with everything in order. I am not sure I fully understand the process.

Let's say you go in without pre-apporoval from a CU and decide you do not want to accept the best offer from BMW FS. From what I understand the process of applying and receiving the check from the CU can take a day or two if all goes smoothly. Does this delay your sale? If not how long do you have to get them your check from the cu after signing?

Ideally I plan on going in with a pre-approved offer and see if they can beat it. Don't have very high hopes there but it's worth a shot.
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      09-26-2017, 12:04 PM   #57
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Quote:
Originally Posted by arquitecto View Post
I sign my paperwork next week for my PCD on October 9th. Did you guys do these online CU applications before going in to the dealer to sign or did you see what BMW FS offered you before looking for alternate options? This is my first new car purchase and I want to make sure I go in with everything in order. I am not sure I fully understand the process.

Let's say you go in without pre-apporoval from a CU and decide you do not want to accept the best offer from BMW FS. From what I understand the process of applying and receiving the check from the CU can take a day or two if all goes smoothly. Does this delay your sale? If not how long do you have to get them your check from the cu after signing?

Ideally I plan on going in with a pre-approved offer and see if they can beat it. Don't have very high hopes there but it's worth a shot.
The dealer required me to be pre-approved with BMW FS before they'd let me put a deposit down. Confident after this approval and other credit monitoring reports I reviewed, I went in without CU Pre-Approval. I told the dealer I could get 1.49 at 48 Months and asked if they could get BMW FS or their Loan partners to match. They tried, but couldn't. I was given a purchase contract that showed 2 options…

1. BMW FS 3.24 at 60 Months
2. Provide payment for the financed amount / purchase price within 10 calendar days.

If the payment wasn't provided, the BMW FS would automatically kick in. I can try to snap a photo of what the contract looks like and post it later.

Good luck!
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      09-26-2017, 01:38 PM   #58
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Quote:
Originally Posted by cornercase View Post
The dealer required me to be pre-approved with BMW FS before they'd let me put a deposit down. Confident after this approval and other credit monitoring reports I reviewed, I went in without CU Pre-Approval. I told the dealer I could get 1.49 at 48 Months and asked if they could get BMW FS or their Loan partners to match. They tried, but couldn't. I was given a purchase contract that showed 2 options…

1. BMW FS 3.24 at 60 Months
2. Provide payment for the financed amount / purchase price within 10 calendar days.

If the payment wasn't provided, the BMW FS would automatically kick in. I can try to snap a photo of what the contract looks like and post it later.

Good luck!
Thanks for the info! This is exactly what I was looking for and has answered all of my questions! I really appreciate the help!
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      10-12-2017, 04:26 PM   #59
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Service Credit Union, 84 months at 2.49%
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