[m20e3087]

Those of us looking to finance our M2C if you could please post the name of bank or credit union you will be financing with it will help out the future owners.

[Cavpilot2k]

So far, BMW financing has offered the best rates on every car I've looked at from them, including a 2018 M2 I was considering at 1.9% back in March.

[Venom]

Originally Posted by Cavpilot2k

So far, BMW financing has offered the best rates on every car I've looked at from them, including a 2018 M2 I was considering at 1.9% back in March.

That doesn't apply to the m2c apparently... I'm sitting on 4.9%

[Cavpilot2k]

Originally Posted by Venom

That doesn't apply to the m2c apparently... I'm sitting on 4.9%

That's terrible. I'm sure a bank or credit union could beat that by miles.

[MartyE12345]

Yeah, last year I bought a ten year old s2k and my credit union gave me a 1.79 rate. I just called them back and they said they would do 1.74 for 84 months on the new m2c (with payroll deductions). My credit score is over 800 as well though. They said even if I don’t get it until December they would honor it as long as I apply now.

[m20e3087]

Originally Posted by MartyE12345

Yeah, last year I bought a ten year old s2k and my credit union gave me a 1.79 rate. I just called them back and they said they would do 1.74 for 84 months on the new m2c (with payroll deductions). My credit score is over 800 as well though. They said even if I don’t get it until December they would honor it as long as I apply now.

What's the requirements to become a member? Do you have me local to apply?

[pz619]

I think the credit union I'm rolling with is 2.5% for 60 month and 2.75% for 72 months. I'll shop around more next month but it's super easy to get below that 4.whatever that BMW is currently offering.

[MartyE12345]

Originally Posted by m20e3087

What's the requirements to become a member? Do you have me local to apply?

I was local with them at one point have since moved. I’m sending them some information over today. I’ll ask about new members, maybe there is even a referral in it for me.

[Shankska]

I've went with credit union on my current M2. Plan on going back with them. 72 months 1.9%. Hope I can get 1.9% this time on the M2 Comp as well. We'll see. usually run credit is only good for certain amount of days, so waiting till we get closer.

[Poochie]

Not to get too personal but what kind of monthly payments are you guys looking at?

The best rate promotion rate with BMW FS in the Northeast is 3.99% and if I pay the fees and sales tax upfront and finance 60k even, it works out to $1,100 a month @ 60 months.. Not counting another $200 for insurance..

Kind of scary since my mortgage is $1,400.

But I guess you have to pay to play..

[Shankska]

Originally Posted by Poochie

Not to get too personal but what kind of monthly payments are you guys looking at?

The best rate promotion rate with BMW FS in the Northeast is 3.99% and if I pay the fees and sales tax upfront and finance 60k even, it works out to $1,100 a month @ 60 months.. Not counting another $200 for insurance..

Kind of scary since my mortgage is $1,400.

But I guess you have to pay to play..

My payment is just over $600 a month, but I put 20k down. Will just roll over the equity to the new m2 comp. Think my insurance is like $140 a month, but I have 4 vehicles on there (and a boat) total of $265, not sure how much of that is M2 cost.

[warrenw]

Since I want to do 60 months it's 2.99% with Navy Federal, I'm looking on financing $35k to make an even $600/month.

It's the lowest I can find among banks I use / credit unions I have access to...

Actually looking around I couldn't believe how many banks say "such low rates!" But they aren't low.

[pz619]

Originally Posted by Poochie

Not to get too personal but what kind of monthly payments are you guys looking at?

The best rate promotion rate with BMW FS in the Northeast is 3.99% and if I pay the fees and sales tax upfront and finance 60k even, it works out to $1,100 a month @ 60 months.. Not counting another $200 for insurance..

Kind of scary since my mortgage is $1,400.

But I guess you have to pay to play..

Consider more down if you could. I’m putting 20k down which should put my payment at around 700/month with tax, title, etc....

[hyperrift]

Originally Posted by pz619

Consider more down if you could. I’m putting 20k down which should put my payment at around 700/month with tax, title, etc....

Why tie up so much liquidity though? I don't see the benefit in paying you front. To save 1 or 2k in interest?

[MartyE12345]

Originally Posted by pz619

Consider more down if you could. I’m putting 20k down which should put my payment at around 700/month with tax, title, etc....

I am usually on the opposite end of the spectrum. I but down the absolute minimum required. Like I said above credit union offered a rate of 1.74%. I usually make between 5 and 10% minimum on investments. Also my mortgage is 3.8%. I don’t understand why everyone doesn’t want to hold debt. Make your money work for you, if you get under 3% or under on a car loan put down the absolute minimum. Use what you would have put down to pay down your higher APR mortgage or invest it.

[MartyE12345]

Originally Posted by hyperrift

Why tie up so much liquidity though? I don't see the benefit in paying you front. To save 1 or 2k in interest?

Amen.

[warrenw]

Originally Posted by hyperrift

Why tie up so much liquidity though? I don't see the benefit in paying you front. To save 1 or 2k in interest?

Some people like myself just don't like owing money. To me that's worth more than being more liquid...

And as others have said yeah I can make a higher % investing, and I do, but I'd rather just not owe anything.

[pz619]

Originally Posted by hyperrift

Why tie up so much liquidity though? I don't see the benefit in paying you front. To save 1 or 2k in interest?

It's exactly that. Save on interest and I'm not doing anything with that money. Mortgage is paid off finally

[MartyE12345]

Originally Posted by MartyE12345

Yeah, last year I bought a ten year old s2k and my credit union gave me a 1.79 rate. I just called them back and they said they would do 1.74 for 84 months on the new m2c (with payroll deductions). My credit score is over 800 as well though. They said even if I don’t get it until December they would honor it as long as I apply now.

Spoke with my credit union today, they said typically their members are local or based on where they work. However she has said they do make exceptions . Also, I’m sure this is a standard disclaimer but the rate is based on your score and that was what they quoted me at with a credit score over 800. If anyone is really interested shoot me a PM and I’ll send you the name of the credit union so you can check out there website. She said typically they have you open an account in person but it can be done remotely with notarization.

[Evil///M]

What? No one is paying cash for their new M2??

[Shankska]

Originally Posted by MartyE12345

Spoke with my credit union today, they said typically their members are local or based on where they work. However she has said they do make exceptions . Also, I’m sure this is a standard disclaimer but the rate is based on your score and that was what they quoted me at with a credit score over 800. If anyone is really interested shoot me a PM and I’ll send you the name of the credit union so you can check out there website. She said typically they have you open an account in person but it can be done remotely with notarization.

sent you a pm

[nomoracin]

Originally Posted by MartyE12345

I am usually on the opposite end of the spectrum. I but down the absolute minimum required. Like I said above credit union offered a rate of 1.74%. I usually make between 5 and 10% minimum on investments. Also my mortgage is 3.8%. I don’t understand why everyone doesn’t want to hold debt. Make your money work for you, if you get under 3% or under on a car loan put down the absolute minimum. Use what you would have put down to pay down your higher APR mortgage or invest it.

I'm a big wuss when it comes to investing. I'd rather pay down a known interest rather take a chance on potential interest. I get it, most people average 5-10% investing, but you could also lose it all as well.