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      02-10-2016, 04:43 PM   #23
BEM-S4
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Quote:
Originally Posted by auf Deutsch
I'm an avid lessee but if the M2 holds its value relatively well, I could see financing it.

I wish there was some sort of indication how its value is going to hold up.
You could always just buy it out when done if market values are higher. At least that way you've got the no hassle option if prices behave the way BMW predicts with their residuals.
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      02-20-2016, 01:49 PM   #24
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Anyone here with a launch car ordered start the financing process yet? Talked to my SA yesterday and said that figuring out financing should be a priority at this point in time... but we dont even have a confirmed delivery date with all this EPA crap..
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      02-20-2016, 04:17 PM   #25
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Anyone here with a launch car ordered start the financing process yet? Talked to my SA yesterday and said that figuring out financing should be a priority at this point in time... but we dont even have a confirmed delivery date with all this EPA crap..
I haven't started the process yet and mine should be done production today. I am hoping March/April rates from BMWFS are better than 2.92% as I'm looking to do 72 Months (Plan to keep the car a while). I have found a few other credit unions at 2.24% and 2.49% so if it's closer to that I'd be relatively happy (Hoping there is a financing incentive for Spring as I've seen in the past).
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      02-20-2016, 06:42 PM   #26
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Quote:
Originally Posted by BEM-S4
Quote:
Originally Posted by pruettfan
Financing through any credit union or bank is pretty much the same but they each have little differences, some send you a blank check you fill in some will fedex the check to the dealer. I would just call Penfed and ask them. Ordering the car makes it a little different because any lender will want you to take delivery within 30 days of the approval so you just need to keep that in mind
With BMWFS you get whatever is better, deal at order or deal at delivery. Your #s can get better but not worse. Be sure to check with the third party and see what their deal is.

Call me when BMW FS offers 1.99% like my credit union does right now...
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      02-20-2016, 06:59 PM   #27
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The dealer may not accept your check unless you go through BMW FS for a high demand car

I would ask for a sales invoice and bring a check in for that negotiated price so BMW doesn't need to know the details of your financing

Many times I have been told no - either you finance with us or walk - they know others will pay more for the car

Porsche dealerships do it all the time... Knowing that someone else will come through the door and pay more in financing, down payment, leasing, APR etc. they make more money when you have a worse credit score or really want the car bad with mark up.

If going through PenFed i would find out what the value of the car is as they may only allow 100 per cent financing and I'm sure market values have not been established as of yet
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      02-21-2016, 11:21 AM   #28
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Originally Posted by M3 Adjuster View Post
Call me when BMW FS offers 1.99% like my credit union does right now...
Could you PM me the Credit Union that you use? I haven't found anything below 2.49% (USAA) and another one that has slipped my mind for 2.24%. After the Fed raised the rates, 1.99% for 72 months has been hard to find. I may consider doing 60 months at this point, but I plan to keep the car "at least" 6 years.
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      02-21-2016, 11:36 AM   #29
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Quote:
Originally Posted by MTHRAR
Quote:
Originally Posted by M3 Adjuster View Post
Call me when BMW FS offers 1.99% like my credit union does right now...
Could you PM me the Credit Union that you use? I haven't found anything below 2.49% (USAA) and another one that has slipped my mind for 2.24%. After the Fed raised the rates, 1.99% for 72 months has been hard to find. I may consider doing 60 months at this point, but I plan to keep the car "at least" 6 years.
It's my employer and also an insurance company but it only services employees. I took a look around and you are right the last rate hike has moved rates up, my CU doesn't really react with the market as much.

In general, in my opinion, credit unions are better lenders than banks. They react more slowly to the market and they also tend to give you more leeway with regards to risk as they know you longer ( ala American Express for credit cards ). I do actually have a second credit I can provide info on, that I bank with and they still have 1.99 terms it appears.

https://www.xfcu.org/personal/rates/

Looks like the rate is a 2.34 percent with a .35 percent rate deduction for having a checking account.
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      02-21-2016, 02:26 PM   #30
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I doubt it'll work for the M2 but in the past, when we've gotten our own financing, the dealer will match the rate so you go through their bank.
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      02-25-2016, 03:16 PM   #31
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From my last ED experience: I would recommend going with BMW FS, and then refinancing when the car is in your possession.

Why? If your car is delayed at port, you'll have more clout with BMWFS to argue for a free months payment. Additionally, most banks/credit unions, aren't terribly familiar with the ED process. It took about 3 letters and 5 phone calls to get my credit union to understand the car was still sitting at port.
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