BMW Financial vs... others

Juicehead · 03-04-2019, 10:26 AM

Mulling over who to finance my M2C through. My credit union is only .25% lower than BMW Financial. Are there any perks (loyalty) by financing through BMW?

DanG · 03-04-2019, 01:49 PM

Just 2.89% financing. You can get a 3 year membership to BMWCCA on or before delivery and receive a $500 incentive.

M2C89 · 03-04-2019, 03:14 PM

Quote:

Originally Posted by DanG

Just 2.89% financing. You can get a 3 year membership to BMWCCA on or before delivery and receive a $500 incentive.

Can you provide a link to where this 2.89% is available? Best I can see is 4.55% and I'm in their super elite credit group. I know it varies by region, where are you?

detroitm2 · 03-04-2019, 03:30 PM

Shop around. There are other CU's you'll get a better rate from. (Penfed, for one)

DanG · 03-04-2019, 03:44 PM

Quote:

Originally Posted by M2C89

Can you provide a link to where this 2.89% is available? Best I can see is 4.55% and I'm in their super elite credit group. I know it varies by region, where are you?

From the BMWUSA site: https://www.bmwusa.com/special-offer...tsoundbmw.html

Juicehead · 03-04-2019, 05:21 PM

Quote:

Originally Posted by M2C89

Can you provide a link to where this 2.89% is available? Best I can see is 4.55% and I'm in their super elite credit group. I know it varies by region, where are you?

Yeah, I was quoted 4.25 from my CU and 4.55 from BMWUSA. This is for 72 months of course. Needless to say, I am floored with how quick the auto interest rates have increased. I was just a bit over 2% on a preowned vehicle I purchase less than 2 years ago.

SConn · 03-04-2019, 05:27 PM

I'm at 4.49% at my credit union. It's the best rate available right now. That's on a used car. Seems with new cars you might be able to do a little better.

DanG · 03-04-2019, 06:24 PM

My brother-in-law just bought a new X5. He got 2.89% for 60 months from BMW financial.

M2C89 · 03-04-2019, 09:32 PM

Quote:

Originally Posted by DanG

My brother-in-law just bought a new X5. He got 2.89% for 60 months from BMW financial.

Which region is he in?

DanG · 03-04-2019, 09:35 PM

Quote:

Originally Posted by M2C89

Which region is he in?

Northwest region.

CosmosMpower · 03-05-2019, 02:21 PM

Quote:

Originally Posted by detroitm2

Shop around. There are other CU's you'll get a better rate from. (Penfed, for one)

Nope Penfed rate is higher than BMWFS rate on M2C

zivyn · 03-05-2019, 08:01 PM

My credit union and BMW FS both offered 2.89% last week, although BMW's website says 2.99% so it may have just changed

Poochie · 03-05-2019, 08:08 PM

The promotional rate changes every month but you could lock it in for up to 60 days, within delivery and application.

Damn, I haven't seen a promotional rate as low as 2.9% since 2017 on M cars; its have been on the rise since.

Just verified that this rate is good nationwide, with top-tier credit approval (740 FICO score).

detroitm2 · 03-05-2019, 08:27 PM

Quote:

Originally Posted by CosmosMpower

Quote:

Originally Posted by detroitm2

Shop around. There are other CU's you'll get a better rate from. (Penfed, for one)

Nope Penfed rate is higher than BMWFS rate on M2C

I was referring to the guy who had 4.55% penfed can beat that.

M2C89 · 03-05-2019, 09:10 PM

Quote:

Originally Posted by Poochie

The promotional rate changes every month but you could lock it in for up to 60 days, within delivery and application.

Damn, I haven't seen a promotional rate as low as 2.9% since 2017 on M cars; its have been on the rise since.

Just verified that this rate is good nationwide, with top-tier credit approval (740 FICO score).

Can you please share how you verified that it's good nationwide?

Poochie · 03-05-2019, 09:30 PM

Quote:

Originally Posted by M2C89

Quote:

Originally Posted by Poochie

The promotional rate changes every month but you could lock it in for up to 60 days, within delivery and application.

Damn, I haven't seen a promotional rate as low as 2.9% since 2017 on M cars; its have been on the rise since.

Just verified that this rate is good nationwide, with top-tier credit approval (740 FICO score).

Can you please share how you verified that it's good nationwide?

I did it manually..

Go to the BMW website, build the vehicle and input a zip code for the East Coast and then try another for the West Cost. They both are at 2.9% with a Super Preferred credit tier.

If the rate match for both those regions, the other fly-over states would be the same. They only vary by those two regions.

M2C89 · 03-06-2019, 03:01 AM

Quote:

Originally Posted by Poochie

Quote:

Originally Posted by M2C89

Quote:

Originally Posted by Poochie

The promotional rate changes every month but you could lock it in for up to 60 days, within delivery and application.

Damn, I haven't seen a promotional rate as low as 2.9% since 2017 on M cars; its have been on the rise since.

Just verified that this rate is good nationwide, with top-tier credit approval (740 FICO score).

Can you please share how you verified that it's good nationwide?

I did it manually..

Go to the BMW website, build the vehicle and input a zip code for the East Coast and then try another for the West Cost. They both are at 2.9% with a Super Preferred credit tier.

If the rate match for both those regions, the other fly-over states would be the same. They only vary by those two regions.

How hard is it to get the dealership to honor the reduced rate? Locally it's 4.55%, but 2.99% elsewhere. Is it possible for them to do it or is it up to BMW Financial?

farcus · 03-06-2019, 06:10 PM

mine was 3.89% 48 month, with BMW. Credit in 730s. This was January of this year.

particulardude · 03-06-2019, 06:36 PM

it's been awhile so don't quote me but lightstream was super competitive a few years ago

Poochie · 03-06-2019, 07:14 PM

Quote:

Originally Posted by farcus

mine was 3.89% 48 month, with BMW. Credit in 730s. This was January of this year.

Sometimes even when you qualify for the best rate, the finance manager bumps it up a point so they can collection more commission.

I walked in with pre-approved credit with a locked in payment estimate written by BMW Financial Service online. When I got there to take delivery, my Finance Manager started spewing some BS that I still own on my mortgage, so they have to raised it a point but if I take their maintenance package/ lost key insurance, he'll get them to honor the lower rate.

I walk out and left rudely in the middle of the deal. He called me back and gave me the original 2.89%/60 rate I was approved for.

Long story short, finance managers can play games with the numbers - buyers's beware..

I can't wait until the day when I'm able order a car online, eliminating the middleman, just like I how I can purchase cat food from Amazon..

junx · 03-06-2019, 08:37 PM

Yikes the rates in here are high

NEfan508 · 03-06-2019, 10:28 PM

Quote:

Originally Posted by M2C89

Quote:

Originally Posted by Poochie

Quote:

Originally Posted by M2C89

Quote:

Originally Posted by Poochie

The promotional rate changes every month but you could lock it in for up to 60 days, within delivery and application.

Damn, I haven't seen a promotional rate as low as 2.9% since 2017 on M cars; its have been on the rise since.

Just verified that this rate is good nationwide, with top-tier credit approval (740 FICO score).

Can you please share how you verified that it's good nationwide?

I did it manually..

Go to the BMW website, build the vehicle and input a zip code for the East Coast and then try another for the West Cost. They both are at 2.9% with a Super Preferred credit tier.

If the rate match for both those regions, the other fly-over states would be the same. They only vary by those two regions.

How hard is it to get the dealership to honor the reduced rate? Locally it's 4.55%, but 2.99% elsewhere. Is it possible for them to do it or is it up to BMW Financial?

They play games...

Rate of the dealers address or your home, bmw website had it 2.89% MA-5.55% CT just 90 miles away Home to dealer New England region

dealer with my deposit wouldn't budge until I said I'll cancel and just wait for another allocation with a closer dealer, we settled on 4.24%

Ask for a confirmed rate before a deposit, 2.89% up to 60 months is best as of February maybe March too? assuming you have good credit

Also note my credit was ace's, bull shit dealer claimed not all customers get best rate, with a over 800 score she realized her BS line made no sense, quickly claimed its regional but were both in New England?

Also if you finance less than 85% of the vehicle bmw financial shaves off .25% she claimed?

DCU credit union is 4.24 up to 65 months https://www.dcu.org/loans/auto-loans.html

03-04-2019, 10:26 AM	#1
Juicehead Lieutenant 100 Rep 562 Posts Drives: Raptor Join Date: Sep 2010 Location: Tampa, FL iTrader: (3)	BMW Financial vs... others Mulling over who to finance my M2C through. My credit union is only .25% lower than BMW Financial. Are there any perks (loyalty) by financing through BMW?
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03-04-2019, 01:49 PM	#2
DanG Major General 10583 Rep 6,920 Posts Drives: 2018 M2 AW DCT Join Date: Aug 2012 Location: Seattle, WA iTrader: (1) Garage List 2018 BMW M2 [7.68]	Just 2.89% financing. You can get a 3 year membership to BMWCCA on or before delivery and receive a $500 incentive.
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03-04-2019, 03:30 PM	#4
detroitm2 Colonel 2428 Rep 2,526 Posts Drives: 2018 M2 Join Date: Aug 2018 Location: Michigan iTrader: (2) Garage List 2018 BMW M2 [0.00]	Shop around. There are other CU's you'll get a better rate from. (Penfed, for one)
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03-04-2019, 05:27 PM	#7
SConn Second Lieutenant 180 Rep 195 Posts Drives: 2018 M2 Join Date: Jan 2019 Location: Eastern WA iTrader: (0)	I'm at 4.49% at my credit union. It's the best rate available right now. That's on a used car. Seems with new cars you might be able to do a little better. __________________ 2018 LBB M2 LCI
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03-04-2019, 06:24 PM	#8
DanG Major General 10583 Rep 6,920 Posts Drives: 2018 M2 AW DCT Join Date: Aug 2012 Location: Seattle, WA iTrader: (1) Garage List 2018 BMW M2 [7.68]	My brother-in-law just bought a new X5. He got 2.89% for 60 months from BMW financial.
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03-05-2019, 08:01 PM	#12
zivyn First Lieutenant 28 Rep 378 Posts Drives: for enjoyment Join Date: Nov 2009 Location: West coast transplant iTrader: (13)	My credit union and BMW FS both offered 2.89% last week, although BMW's website says 2.99% so it may have just changed
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03-05-2019, 08:08 PM	#13
Poochie Luxury at the redline :) 9103 Rep 7,563 Posts Drives: 2016 M2 Join Date: Aug 2012 Location: NYC iTrader: (3)	The promotional rate changes every month but you could lock it in for up to 60 days, within delivery and application. Damn, I haven't seen a promotional rate as low as 2.9% since 2017 on M cars; its have been on the rise since. Just verified that this rate is good nationwide, with top-tier credit approval (740 FICO score).
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03-06-2019, 06:10 PM	#18
farcus Private First Class 24 Rep 123 Posts Drives: 2018 F87 AW DCT Join Date: Oct 2018 Location: Houston, TX iTrader: (0)	mine was 3.89% 48 month, with BMW. Credit in 730s. This was January of this year.
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03-06-2019, 06:36 PM	#19
particulardude Lieutenant 379 Rep 462 Posts Drives: LR4 \| L405 SC SWB Join Date: Dec 2009 Location: Chicago iTrader: (0)	it's been awhile so don't quote me but lightstream was super competitive a few years ago __________________ "... if he fails, at least he fails while daring greatly, so that his place shall never be with those cold and timid souls who knew neither victory nor defeat.” —Theodore Roosevelt Instagram@particulardude
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03-06-2019, 08:37 PM	#21
junx Lieutenant 603 Rep 510 Posts Drives: BMW Join Date: Feb 2010 Location: Canada iTrader: (0)	Yikes the rates in here are high
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