03-04-2019, 10:26 AM | #1 |
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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 |
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Drives: 2018 M2 AW DCT
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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, 03:14 PM | #3 |
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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?
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03-04-2019, 03:30 PM | #4 |
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Shop around. There are other CU's you'll get a better rate from. (Penfed, for one)
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03-04-2019, 03:44 PM | #5 | |
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03-04-2019, 05:21 PM | #6 |
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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.
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03-04-2019, 05:27 PM | #7 |
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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.
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03-04-2019, 06:24 PM | #8 |
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My brother-in-law just bought a new X5. He got 2.89% for 60 months from BMW financial.
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03-04-2019, 09:35 PM | #10 |
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03-05-2019, 02:21 PM | #11 |
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03-05-2019, 08:08 PM | #13 |
Luxury at the redline :)
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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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03-05-2019, 08:27 PM | #14 |
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I was referring to the guy who had 4.55% penfed can beat that.
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03-05-2019, 09:10 PM | #15 | |
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03-05-2019, 09:30 PM | #16 | ||
Luxury at the redline :)
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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. |
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03-06-2019, 03:01 AM | #17 | |||
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03-06-2019, 06:36 PM | #19 |
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it's been awhile so don't quote me but lightstream was super competitive a few years ago
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03-06-2019, 07:14 PM | #20 | |
Luxury at the redline :)
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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.. |
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03-06-2019, 10:28 PM | #22 | ||||
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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 |
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