Financing Suggestions

Nezil · 09-12-2017, 02:09 PM

I realise that there have been threads for this topic in the past, probably many, but rates change and therefore older threads just aren't relevant any more.

I'm a W37 build, so I'm scheduled to pick up and pay in late October, early November if I'm lucky.

I've worked with my local CU, Technology Credit Union, for the last two cars I bought, and went to visit them this morning. Their new car rates are currently:

12 ~ 36 months: 1.99%
37 ~ 66 months: 2.24%
67 ~ 72 months: 2.99%
73 ~ 84 months: 3.49%

My wife's car is currently financed, and I was planning to pay it off with the funds from the sale of my current car, and get a new loan for the M2 when it arrives. The spanner in the works with this is that her car is currently financed with a rate of 1.74% with three years and about $28,000 remaining, and I'm considering not paying this off because the rate is so good.

I'd like to keep my payments below $700 / month, and have about $18,000 to put down, so that basically gives me two options (assuming I start a new loan and pay off the wife's as originally planned)...

A 6 year loan @ 2.99% with TechCU - ($677.26 / month)
A 5 year payment saver loan @ 2.49% with PenFed with a $7,000 ballon - ($681.45 / month)

PenFed's 6 year rate is higher than TechCU at 3.24%, and TechCU doesn't offer a payment saver loan.

Does anyone have any other suggestions for CUs I should try?

Nezil · 09-12-2017, 02:18 PM

Oh, I forgot to mention that TechCU will give me a 60 day approval and rate lock, so if I went that route today, I'd be approved until 11/11.

Mosely · 09-12-2017, 05:32 PM

Navy Federal Credit Union has 2.69% for 72 months

Nezil · 09-12-2017, 06:04 PM

Quote:

Originally Posted by BimBimma

Navy Federal Credit Union has 2.69% for 72 months

Thanks! Great tip!

... except I'm not eligible to join

just blaze · 09-12-2017, 09:23 PM

San Mateo Credit Union looks like it's 2.24%. It's actually the one I will probably apply at

Nezil · 09-12-2017, 09:34 PM

Quote:

Originally Posted by just blaze

San Mateo Credit Union looks like it's 2.24%. It's actually the one I will probably apply at

That's great... local as well.

I'm seeing 2.74% for 6 years, which is still good, but 2.24% would be better!

M2Gezr · 09-12-2017, 11:00 PM

When I picked up my car on Saturday, I was offered 2.49% - 72 months which was either going to be with US Bank or Wells Fargo.

Nezil · 09-12-2017, 11:03 PM

Quote:

Originally Posted by M2Gezr

When I picked up my car on Saturday, I was offered 2.49% - 72 months which was either going to be with US Bank or Wells Fargo.

How did you get such a low rate with Wells Fargo? I bank with them, but their website has quoted rates 'from 3.85%'!

M2Gezr · 09-12-2017, 11:09 PM

The dealer gave me the rate of 2.49% and said it would be with either Wells or US Bank. I don't know yet who they placed me with.

Nezil · 09-12-2017, 11:10 PM

Quote:

Originally Posted by M2Gezr

The dealer gave me the rate of 2.49% and said it would be with either Wells or US Bank. I don't know yet who they placed me with.

Interesting...

just blaze · 09-13-2017, 03:41 AM

Quote:

Originally Posted by Nezil

That's great... local as well.

I'm seeing 2.74% for 6 years, which is still good, but 2.24% would be better!

Sorry, just realized you were looking for a 72 mo loan

drexplode · 09-14-2017, 07:57 PM

just signed up for BMW Select Financing: 60mos @ 3.31%. Total MSRP = 64045. Final payment = 861/mo. 2k out of pocket. Received BMW Elite residual at 34%.

Status 150 and about to finish production today or tomorrow.
18 M2
MG
DCT
ZEC
Z08 - m performance pkg (grilles, exhaust, CF tips, CF spoiler)

09-12-2017, 02:09 PM	#1
Nezil Major 1403 Rep 1,466 Posts Drives: LCI '18 6MT M2 Join Date: Jul 2017 Location: San Francisco Bay Area iTrader: (0)	Financing Suggestions I realise that there have been threads for this topic in the past, probably many, but rates change and therefore older threads just aren't relevant any more. I'm a W37 build, so I'm scheduled to pick up and pay in late October, early November if I'm lucky. I've worked with my local CU, Technology Credit Union, for the last two cars I bought, and went to visit them this morning. Their new car rates are currently: 12 ~ 36 months: 1.99% 37 ~ 66 months: 2.24% 67 ~ 72 months: 2.99% 73 ~ 84 months: 3.49% My wife's car is currently financed, and I was planning to pay it off with the funds from the sale of my current car, and get a new loan for the M2 when it arrives. The spanner in the works with this is that her car is currently financed with a rate of 1.74% with three years and about $28,000 remaining, and I'm considering not paying this off because the rate is so good. I'd like to keep my payments below $700 / month, and have about $18,000 to put down, so that basically gives me two options (assuming I start a new loan and pay off the wife's as originally planned)... A 6 year loan @ 2.99% with TechCU - ($677.26 / month) A 5 year payment saver loan @ 2.49% with PenFed with a $7,000 ballon - ($681.45 / month) PenFed's 6 year rate is higher than TechCU at 3.24%, and TechCU doesn't offer a payment saver loan. Does anyone have any other suggestions for CUs I should try? __________________ 2018 ///M2 LCI, LBB, 6MT... Current Performance Mods: CSF FMIC, ER CP, Fabspeed Cat, Aquamist WMI, GFB DV+, NGK 97506, BM3 (Stage 2 93 OTS), CDV delete, UCP, M2C/M3/M4 Strut Brace, M3/M4 Reinforcement Rings
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09-12-2017, 02:18 PM	#2
Nezil Major 1403 Rep 1,466 Posts Drives: LCI '18 6MT M2 Join Date: Jul 2017 Location: San Francisco Bay Area iTrader: (0)	Oh, I forgot to mention that TechCU will give me a 60 day approval and rate lock, so if I went that route today, I'd be approved until 11/11. __________________ 2018 ///M2 LCI, LBB, 6MT... Current Performance Mods: CSF FMIC, ER CP, Fabspeed Cat, Aquamist WMI, GFB DV+, NGK 97506, BM3 (Stage 2 93 OTS), CDV delete, UCP, M2C/M3/M4 Strut Brace, M3/M4 Reinforcement Rings
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09-12-2017, 05:32 PM	#3
Mosely Lieutenant 594 Rep 450 Posts Drives: '18 M2 \| '20 X5 \| '07 E92 Join Date: Mar 2017 Location: SoCal iTrader: (1)	Navy Federal Credit Union has 2.69% for 72 months
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09-12-2017, 09:23 PM	#5
just blaze First Lieutenant 310 Rep 339 Posts Drives: 2018 M2 Alpine White Join Date: Nov 2016 Location: The Bay, CA iTrader: (2)	San Mateo Credit Union looks like it's 2.24%. It's actually the one I will probably apply at
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09-12-2017, 11:00 PM	#7
M2Gezr New Member 6 Rep 27 Posts Drives: 2018 LBB M2 Join Date: Aug 2017 Location: South Bay, LA iTrader: (0)	When I picked up my car on Saturday, I was offered 2.49% - 72 months which was either going to be with US Bank or Wells Fargo. __________________ 2018 LBB M2 2014 Jeep Wrangler Rubicon 2015 Fiat 500e
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09-12-2017, 11:09 PM	#9
M2Gezr New Member 6 Rep 27 Posts Drives: 2018 LBB M2 Join Date: Aug 2017 Location: South Bay, LA iTrader: (0)	The dealer gave me the rate of 2.49% and said it would be with either Wells or US Bank. I don't know yet who they placed me with. __________________ 2018 LBB M2 2014 Jeep Wrangler Rubicon 2015 Fiat 500e
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09-14-2017, 07:57 PM	#12
drexplode Brigadier General 1781 Rep 3,064 Posts Drives: G26 i4x Join Date: Jul 2007 Location: Walled Lake Michigan iTrader: (17)	just signed up for BMW Select Financing: 60mos @ 3.31%. Total MSRP = 64045. Final payment = 861/mo. 2k out of pocket. Received BMW Elite residual at 34%. Status 150 and about to finish production today or tomorrow. 18 M2 MG DCT ZEC Z08 - m performance pkg (grilles, exhaust, CF tips, CF spoiler)
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