[2M]

So whoever financed through BMW, did you all get their standard 2.97 rate? Did anyone get a lower or higher APR? My CA told me I qualified as standard tier. I asked him is that the advertised 2.97, he said I think so you gotta talk to Finance for that. Does anyone know if Super Elite, Elite, and Standard all qualify for the advertised apr?

[atxsk8r]

My credit score was 822 and they still gave me 2.9 at the dealer. You should go with a credit union instead. This is what i did and got 1.5

[jtfields]

Go through a credit union. My credit union gave me 1.75% last year on my X6 and 1.89% on the 328i I bought last weekend. I will be financing my M2 through them as well. I don't remember my exact credit score but it was low 800's.

[2M]

You guys got a great score though, Im at low 7's

[dasblack]

1.99% at BMW, maybe july promo??

[ILIKEBMW'S]

Originally Posted by dasblack

1.99% at BMW, maybe july promo??

The was for Certified Pre-Owned only. I use Pen Fed Credit Union - 1.49% - up to 36 months and 1.99% up to 60. I picked up my M2 last Saturday and dealer told me he could not touch the 1.99%

[dasblack]

Originally Posted by MRV861792

The was for Certified Pre-Owned only. I use Pen Fed Credit Union - 1.49% - up to 36 months and 1.99% up to 60. I picked up my M2 last Saturday and dealer told me he could not touch the 1.99%

Interesting, my dealer said it applies to my car

[ILIKEBMW'S]

Originally Posted by dasblack

Interesting, my dealer said it applies to my car

My dealer is a pretty big BMW dealer - they have 2 dealerships and have over 600 in stock - big M dealer - he said they couldn't make their quota's for June because there was really no incentives - he said the financing was really good on the CPO's which they sold many. I know I have over 750 credit score and the best they could do is high 2's. I told him about Pen Fed and said he couldn't meet or beat it.

Seems like BMW is not doing alot as far as loyalty incentives, etc. Oh well.

[eugegall]

5.9% here in the UK directly with BMW, non negotiable. Cant get it much cheaper with separate companies either!

You guys are so lucky.

[metrickid]

Originally Posted by eugegall

5.9% here in the UK directly with BMW, non negotiable. Cant get it much cheaper with separate companies either!

You guys are so lucky.

Sounds awfully high now considering all the low interest rates around the world. The suggested rate from BMW FS is around 4% I think here or something like that and it isn't that hard to get a better deal.

[jtfields]

Originally Posted by jtfields

Go through a credit union. My credit union gave me 1.75% last year on my X6 and 1.89% on the 328i I bought last weekend. I will be financing my M2 through them as well. I don't remember my exact credit score but it was low 800's.

The 1.89% rate from my credit union is the same whether new or used from 36 to 72 months. I'm not sure why their rates don't come down as the term decreases.

[Nick2016M2]

My dealer got me 1.89%, however they went through another lender, not BMWFS.

[drewF87]

I'm almost certain I saw 0.9 a week ago.

[M3 Adjuster]

Originally Posted by jtfields

The 1.89% rate from my credit union is the same whether new or used from 36 to 72 months. I'm not sure why their rates don't come down as the term decreases.

Because they simply choose to offer the same stellar rate across all their products.

My credit union offers 1.99 on all their loans.
, and will do up to 84 months on 30k or more.

Rates apply to both NEW AND USED vehicles.

They even lowered my rate on an existing loan that was in progress to their current rate

[Euromeister]

Originally Posted by eugegall

5.9% here in the UK directly with BMW, non negotiable. Cant get it much cheaper with separate companies either!

You guys are so lucky.

Might come down if the bank England drops it rate soon due to Brexit !

[jtfields]

My dad ran a small local bank for 30+ years. He hated credit unions. They are considered not-for-profit so they paid no income tax which gave them an unfair advantage. At the time you actually had to be a true member of whomever the credit union was trying to serve (i.e. if it's a teachers credit union you actually had to be a teacher.) They still pay no taxes and don't care about making money, other than maintaining required solvency, but anyone off the street can join them. Definitely gives them an unfair advantage but, hey, I'm in if it gets me sub-2% financing.

[twin fed]

I just went through a credit union 1.89% 60 months

[Nine Lives]

Originally Posted by eugegall

5.9% here in the UK directly with BMW, non negotiable. Cant get it much cheaper with separate companies either!

You guys are so lucky.

Originally Posted by Euromeister

Might come down if the bank England drops it rate soon due to Brexit !

I wouldn't hold your breath !

BOE base rate is already at 0.5%,basically flat as a witches tit We've always been seen as "treasure island" where prices,taxes and services are extortionate and consumer power is very weak

[2M]

I am at the 2.97 rate. Now Im tryna make sense on how many months I should do lol

[atxsk8r]

Originally Posted by 2M

Now Im tryna make sense on how many months I should do lol

Depends on how long you going to keep the car IMO. For me, i did 60 months to have cheap payments but going to get rid of the car after 1-2 years.

[pruettfan]

Credit unions are very tough to beat. They are the best deal going. Penfed is easy to join now, you an simply donate to a veterans charity and you gain the ability to join. Navy Federal is my go to credit union, they have amazing customer service but its tougher to join.

[2M]

Originally Posted by atxsk8r

Depends on how long you going to keep the car IMO. For me, i did 60 months to have cheap payments but going to get rid of the car after 1-2 years.

If you decide, on the 48th month, to pay off the remaining balance, would you still be paying that 12 month interest that was calculated between the 48th and the 60th month ?