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      10-30-2018, 02:05 PM   #1
Blue2
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Best loan rates?

My M2 is on the boat heading to Florida and I'm now shopping around for the best rates. One credit union for which I am eligible was offering 2.99% for 60 months. That's decent, but is there anything better out there? When I bought my M240i BMW did 0.99% for 72 months! I'm guessing that promotion is over.
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      10-30-2018, 09:14 PM   #2
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I found a credit union that will do 2.25% with 800+ credit score. Most are 2.9-3.5 for 60/72 term right now.
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      10-31-2018, 02:23 AM   #3
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Quote:
Originally Posted by ONLYA6 View Post
I found a credit union that will do 2.25% with 800+ credit score. Most are 2.9-3.5 for 60/72 term right now.
Which one was it?
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      10-31-2018, 04:46 AM   #4
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Quote:
Originally Posted by ONLYA6 View Post
I found a credit union that will do 2.25% with 800+ credit score. Most are 2.9-3.5 for 60/72 term right now.
Which one was it?
Harrison County Credit Union in Clarksburg WV.
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      11-04-2018, 01:19 PM   #5
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Originally Posted by ONLYA6 View Post
Harrison County Credit Union in Clarksburg WV.
I had mentioned this previously my old credit union in Morgantown WV offered me 1.79% for 72 or 84 months (with auto payments). I believe it may have went up to 2.00% recently. WV banks must need some money.
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      11-12-2018, 06:25 PM   #6
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I just financed through my credit union for used 2018 at 1.99% with auto withdraw in Huntington, WV as well.
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      01-02-2019, 11:12 AM   #7
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Anyone know January interest rates? Thanks
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      01-02-2019, 11:34 AM   #8
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Quote:
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Anyone know January interest rates? Thanks
My credit union (https://cfcu.org) will do 2.74% for up to 60 months with auto-pay via their checking accounts.
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      01-02-2019, 11:41 AM   #9
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Got 2.89% from BMW Financial on Dec 27th.
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      01-02-2019, 11:55 AM   #10
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Quote:
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Got 2.89% from BMW Financial on Dec 27th.
Was that the published rate? The website showed 2.99 so that's what I went with.
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      01-02-2019, 12:02 PM   #11
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Not bad! Thanks
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      01-02-2019, 03:49 PM   #12
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Quote:
Originally Posted by CosmosMpower View Post
Was that the published rate? The website showed 2.99 so that's what I went with.
It's a little complicated. The BMW Finance website lists 2.89% for 2019 M Models, except the 2019 M2. It shows only the 2018 M2 as 2.89%. I filled out an application online and that application said 2.89% for a 2019 M2 Comp. It was approved. When I showed up to the dealer to sign the paperwork, the finance manager told me that it was coming back at 3.89%. I had a copy of my application and confirmation from the general sales manager that I was approved for 2.89% so that's the rate they gave me. So, I guess it's a bit of your mileage may vary, but it worked for me.
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      01-02-2019, 05:05 PM   #13
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Quote:
Originally Posted by orangeglim View Post
It's a little complicated. The BMW Finance website lists 2.89% for 2019 M Models, except the 2019 M2. It shows only the 2018 M2 as 2.89%. I filled out an application online and that application said 2.89% for a 2019 M2 Comp. It was approved. When I showed up to the dealer to sign the paperwork, the finance manager told me that it was coming back at 3.89%. I had a copy of my application and confirmation from the general sales manager that I was approved for 2.89% so that's the rate they gave me. So, I guess it's a bit of your mileage may vary, but it worked for me.
Interesting, I already signed my paperwork at 2.99 so not much recourse was just curious how it played out for you. When I looked there was no 2.89 rate online for BMWFS just 2.99 so that's what I went with.
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      01-02-2019, 08:23 PM   #14
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Quote:
Originally Posted by CosmosMpower View Post
Interesting, I already signed my paperwork at 2.99 so not much recourse was just curious how it played out for you. When I looked there was no 2.89 rate online for BMWFS just 2.99 so that's what I went with.
2.89 is the buy rate for BMW right now, you might be able to get lower with a credit union but rates have finally started going back up.
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      01-02-2019, 09:24 PM   #15
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I financed for 36 months at 1.89% with Andrews Federal Credit Union. Advertised is 2.14 and they give a .25% discount with auto pay.


.25 reduction applies to longer terms too.
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      01-03-2019, 09:39 AM   #16
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In CA 2.89 is actually pretty good rate
BTW just checked on BMW financial and 2019 M2C rate is 4.85%

Last edited by M4 GTS; 01-03-2019 at 11:21 AM..
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      01-03-2019, 11:35 AM   #17
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Yeah 2.89 is very good for CA.. I did see 2.89 through BMWFS for the M2C in some markets in December (Norcal, some areas of Socal) but the dealer I ordered from didn't offer that, they had something like 4.55.
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      01-03-2019, 12:04 PM   #18
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Is the rate based where you live or where the dealer is?
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      01-03-2019, 09:46 PM   #19
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Quote:
Originally Posted by M4 GTS View Post
Is the rate based where you live or where the dealer is?
I'm almost 100% sure the BMW FS rates are nationalized but that said it might be really hard to get a dealer to agree to 2.89 if all the competing banks and credit unions in the area have high rates.

You should absolutely shop around and see what you get approved for at other banks and credit unions, if it's all within 2 weeks it only counts as one hard credit pull and dealers will usually match lower rates of other banks if you get approved.

Dealers mark up multiple percent on people that's a huge profit center for them, don't fall for it.
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      01-03-2019, 11:54 PM   #20
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I was pre-approved with my credit union for 2.49% (36 months) and 2.74% (48 months) and also pre-approved with BMW Financing for 2.89% (60 months). I could not find any BMW dealers in Southern California that would match my credit union rate or the BMW Financing rate from the out of state dealer. All they would say is that the rate must be region specific and they could not match the rate which seems bogus if the BMW Financing rates are national.

I ended up financing with BMW since it seemed a tad quicker to complete the out of state purchase and I also plan to pay off my loan by the end of this year or 2020 so the difference in interest rates will be negligible.
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      01-04-2019, 07:12 AM   #21
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Picked my M2C up on the 2nd and BMW rate was 2.89%.
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      01-04-2019, 09:24 AM   #22
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Thanks for the info
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