[longbeachbluem2]

Can anyone share their experiences financing Euro delivery (especially with their own bank/credit union)? I know BMW needs payment 30-7 days before trip, but what does the bank need to fund the car? BMW FS is offering 2.99%, but my bank is offering way less. The dealer accepted my approval letter, had me sign papers, and complete down payment which means I supposedly "bought" the car yesterday. I have a VIN, but without a CO they weren't convinced the loan would fund for a couple weeks. Looking forward to end of April ED with PCD after. Any feedback would be much appreciated.

[hoyasaxa]

I asked my CU about this a little while ago. Frontline person didn't understand it. An underwriter told me no, outright. Considering just refinancing it with the CU when I get back.

[Tumbleweeds78]

I recently financed my wife's car through my credit union. They required a signed copy of the purchase order in order to fund the loan. Once they had that, they overnighted a certified check to the dealership. The dealership treated it as a cash deal. Euro delivery may complicate things a bit but I can't imagine it'd be much different. I'd call your loan officer and ask them what they'll need.

[M///Fanatic]

Literally just went through this last week as my ED is officially scheduled for 5/4!

My local credit union needed the vin before completing the financing. Since I only have production number at this point we have to wait until the car enters production which is when the VIN is created.

Spoke to the European Delivery Specialist who assured me there's no issues with making the payment after the car enters production. This specialist indicated payment needs to be completed 7-10 days prior to accepting delivery of the vehicle.

The European Delivery Specialist telephone line has been the best resource I have found since starting this ED adventure. PM me if you want the direct phone number.

Hopefully this helps.

[X2Board]

PenFed, they totally understand ED. I didn't have to make any payments until after PCD, when I did my F80 ED + PCD, in 2015.

[bedensbrook]

Will be doing ED on Oct 7 and am starting to research non-BMWFS financing. Aside from PennFed, what CU's (or other lenders) are knowledgeable with lending on ED purchases?

[Chuck W.]

I worked with my CU for several weeks and gave up. They just wouldn't/couldn't do it. I borrowed the cash from my son then financed it through the CU when I got the M2 home.

[Zugspitze]

I used Bank of America.

[bobert]

Originally Posted by longbeachbluem2

Can anyone share their experiences financing Euro delivery (especially with their own bank/credit union)? I know BMW needs payment 30-7 days before trip, but what does the bank need to fund the car? BMW FS is offering 2.99%, but my bank is offering way less. The dealer accepted my approval letter, had me sign papers, and complete down payment which means I supposedly "bought" the car yesterday. I have a VIN, but without a CO they weren't convinced the loan would fund for a couple weeks. Looking forward to end of April ED with PCD after. Any feedback would be much appreciated.

Curious - what did you end up doing? Dealing with my credit union now - they totally don't get ED but they got 1.99 for 60 or 72 months while PenFed (the apparent masters of ED lending, apart from BMW FS) only has 2.99 & 3.24. Tks.

[M///Fanatic]

Originally Posted by bobert

Curious - what did you end up doing? Dealing with my credit union now - they totally don't get ED but they got 1.99 for 60 or 72 months while PenFed (the apparent masters of ED lending, apart from BMW FS) only has 2.99 & 3.24. Tks.

Originally Posted by bobert

Curious - what did you end up doing? Dealing with my credit union now - they totally don't get ED but they got 1.99 for 60 or 72 months while PenFed (the apparent masters of ED lending, apart from BMW FS) only has 2.99 & 3.24. Tks.

Once you have the VIN# go back to your Credit Union, they will be able to write a check to the dealership once they have the VIN#.

[bobert]

Originally Posted by M///Fanatic

Once you have the VIN# go back to your Credit Union, they will be able to write a check to the dealership once they have the VIN#.

I got my VIN a week ago - my credit union is just stupid (like some others have reported) and won't give me a loan until the car is on US soil & registered/insured here in MD. Looks like I'll have to do BMW FS and refinance with dumb credit union once the car is re-delivered.

[M///Fanatic]

Originally Posted by bobert

I got my VIN a week ago - my credit union is just stupid (like some others have reported) and won't give me a loan until the car is on US soil & registered/insured here in MD. Looks like I'll have to do BMW FS and refinance with dumb credit union once the car is re-delivered.

Dang, sorry to hear that. Nonsense indeed.

[longbeachbluem2]

Originally Posted by bobert

Curious - what did you end up doing? Dealing with my credit union now - they totally don't get ED but they got 1.99 for 60 or 72 months while PenFed (the apparent masters of ED lending, apart from BMW FS) only has 2.99 & 3.24. Tks.

Ended up going with Bank of America. I'm part of their preferred program, forum members recommended going through them, they sort of understood but were willing to do ED , and they beat BMW financing (came real close to 1.99). At the end of the day, worked out well. Just do it close to before you leave. I submitted everything several weeks before, but it didn't need to go through quite that early (funded right before the trip - think this was on BMW's side as I kept asking BofA if they needed anything). Hope this helps!