[pz619]

I was able to score a 1.99 on a 48 month loan through a local credit union here in So Cal. Rate was low because I put about 50% down and signed up for auto pay. Frontwave (formerly Pacific Marine) if anyone is local and interested.

[cpvince]

Originally Posted by pz619

I was able to score a 1.99 on a 48 month loan through a local credit union here in So Cal. Rate was low because I put about 50% down and signed up for auto pay. Frontwave (formerly Pacific Marine) if anyone is local and interested.

Must be socal resident? Local CUs in norcal are nowhere near 1.99.

[pz619]

Originally Posted by cpvince

Must be socal resident? Local CUs in norcal are nowhere near 1.99.

Unfortunately yes, I believe it's only San Diego/OC and surrounding counties.

[NEfan508]

I live in Massachusetts, my dealer in Connecticut is playing games with the bank rate 4.50% NOT the 2.89% on the BMW USA site

update: on the site with a CT zip code it's 4.5% true but in MA my state (garaged vehicle address) is 2.89%

I guess it's state by state for rates

[M4 GTS]

Yes same in CA. I was quoted 4.5 and found 3.5 trough my CU

[NEfan508]

Originally Posted by M4 GTS

Yes same in CA. I was quoted 4.5 and found 3.5 trough my CU

Originally Posted by M4 GTS

Yes same in CA. I was quoted 4.5 and found 3.5 trough my CU

Bmw USA site Massachusetts zip

[NEfan508]

My dealer is telling me because it's located in Connecticut and I'm in Massachusetts best rate go's Connecticut selling store not home address @ 4.49% not 2.89% ($50k) extra finance charge for 60 months over $2100

buying state not home state...

Note: none of my local boston dealers had allocation.

Now after December my home credit union rate is now nearly the same

Update: got .25% discount for financing less than 85% of vehicle, now it's 4.24%

[brocurls]

Boggles my mind after reading these posts, that in my area all the local CUs are ranging from 3.59 (36mon) to 4.25 (60mon).

BMW finance rate in my area is 4.55. I don't even know why I bothered to look it up.

The only "decent" one is NavyFed that is offering 2.99 for 36 months.

Are you guys getting a significant, lower rate once you formally apply (obv pending excellent credit or not)? I'm just perusing through the sites and seeing their "as low as" rates.

[NEfan508]

Originally Posted by brocurls

Boggles my mind after reading these posts, that in my area all the local CUs are ranging from 3.59 (36mon) to 4.25 (60mon).

BMW finance rate in my area is 4.55. I don't even know why I bothered to look it up.

The only "decent" one is NavyFed that is offering 2.99 for 36 months.

Are you guys getting a significant, lower rate once you formally apply (obv pending excellent credit or not)? I'm just perusing through the sites and seeing their "as low as" rates.

Dealers play games, lots of market(s) got the 2.89%

Connecticut dealer gave me 4.24% told me they will not match Boston's 2.89%

I called another dealer in CT to compare, what's best rate with great credit you can get me with bmw financial, 5.55% lol

I think they just makeup #'s

If they sell a loan above 3% December/January they keep a good portion of the difference (backend money)

$300 per unit inflated finance/lease rate @ 100 to 120 cars sold per month X's 12 months = $250k to $350k a year profit, in my case making me spend $2100 more in finance life of the loan

For a few hundred back end money they will F you without buying dinner

Don't take it personal it's just a big revenue stream

Bmw told me it's up to the dealer what they offer in finance...

[cdtech4]

From what I've seen talking to dealers about rates is they will quote you 1-2% above what BMW Financial has listed for their zip. So 2.89 -> 3.89, 4.55 -> 5.55.

I havent gotten to the point of bartering down those rates to compete but I'm sure going in with good credit and a better rate from another company will help.

[NEfan508]

Originally Posted by cdtech4

From what I've seen talking to dealers about rates is they will quote you 1-2% above what BMW Financial has listed for their zip. So 2.89 -> 3.89, 4.55 -> 5.55.

I havent gotten to the point of bartering down those rates to compete but I'm sure going in with good credit and a better rate from another company will help.

825 TransUnion score

I asked why the games? I purchased @ msrp.

Your credit might be a factor for best rate, that (might) be the reason we offer what's available to you, lol

I'm over 800 credit score? she did not know what to say, soon she said it was a market thing.

This dealer was full of crap BUT they had a spot for my order, no nearby dealer had allocation

[goku7]

if my local area (CA) is 2.89% and the dealer where I am buying at is 4.89%. Can i finance through my local dealer where I pick the car up at.

[NEfan508]

Originally Posted by goku7

if my local area (CA) is 2.89% and the dealer where I am buying at is 4.89%. Can i finance through my local dealer where I pick the car up at.

Not sure,

My bull shit dealer said it's the selling dealers market that matters

[luxo]

So the finance rate goes by location/dealer? I'm seeing 4.55% on 18 M2 and 19 M2C on BMW NA website. I just got a new 18' and ended up financing at 3.89% for 60 months through BMWFS. I was told this was the best rate that they had available.

[NEfan508]

Originally Posted by luxo

So the finance rate goes by location/dealer? I'm seeing 4.55% on 18 M2 and 19 M2C on BMW NA website. I just got a new 18' and ended up financing at 3.89% for 60 months through BMWFS. I was told this was the best rate that they had available.

2.89% to 5.55% they play with what's available market area your home area

After deposit and given allocation they then told me my rate, my fault for not verifying, I assumed I would get best rate 2.89% from bmw site (great credit tier 1)

Settled for 4.24% after I told them I'm considering canceling, magically they found a way to lower it a bit

[brocurls]

Originally Posted by NEfan508

2.89% to 5.55% they play with what's available market area your home area

After deposit and given allocation they then told me my rate, my fault for not verifying, I assumed I would get best rate 2.89% from bmw site (great credit tier 1)

Settled for 4.24% after I told them I'm considering canceling, magically they found a way to lower it a bit

I'm sorry but how tf is a credit score of over 800 amount to a piss poor 4.24% from BMW?? That's completely ass backwards from the dealer.

I have 818 right now, and I'll damn near have my head fall off from the all shaking it'll do if they give me the same rate

[NEfan508]

Originally Posted by brocurls

I'm sorry but how tf is a credit score of over 800 amount to a piss poor 4.24% from BMW?? That's completely ass backwards from the dealer.

I have 818 right now, and I'll damn near have my head fall off from the all shaking it'll do if they give me the same rate

They (claimed) best rate was 5.55% my credit was never in question the BEST rate was

who is eligible? what market? Buyers address or dealer location?

Like I said dealer games to justify padding the rate.

They will have you the customer pay thousands more in finance rate if they can get a few hundred on the back end with finance

The line about market area and rates are so bull, I called a few bmw stores ALL had different numbers for best rate, I had to go with these ass clowns because they had a order spot.

They also did another prick move, claim my order for 6MT wasn't available must order automatic $2950 more (few hundred) more profit to dealer, I called bull shit again, bmw got involved made them change it to what I wanted, again magically it was possible

[GoHerd]

Wanted to add to the purchase experience conversation.

Looking to get into a HS M2C.
Local dealer, who I've used before, is trying to source a car.
He's saying $1000 off msrp and 2.89/60 months through BMW will work.

It's an automatic car.

[Grrveer]

Does anyone know what exactly “BMW’s top tier” credit requirements are to qualify for the 2.89% for 60 months?

[NEfan508]

Originally Posted by Grrveer

Does anyone know what exactly “BMW’s top tier” credit requirements are to qualify for the 2.89% for 60 months?

740 credit score, gets tier 1 rate

They got all of my scores, used TransUnion my best score over 800 but still played games on the rate

Likely they will play games just be aware

They will say we can't give you a rate until we see your score, lots of factors...

Good luck

[aWanderlustSeoul]

Originally Posted by GoHerd

Wanted to add to the purchase experience conversation.

Looking to get into a HS M2C.
Local dealer, who I've used before, is trying to source a car.
He's saying $1000 off msrp and 2.89/60 months through BMW will work.

It's an automatic car.

This could be a good deal depending on the car the dealer finds/trades for as long as it does not have a lot of random accessories or carbon bits adding to the cost that you may or may not want to pay for.

[aWanderlustSeoul]

Why are there so many hung up in finding a local credit union for the best rates? As long as you can meet the minimal membership requirements, not all the credit unions will require you to be a local resident. If you can find a good loan rate and are eligible to join, you can usually complete the account setup process on the phone or online and fund the account directly with electronic transfers.