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      03-07-2019, 10:35 AM   #23
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Rates are like everything else - negotiable.

Sometimes you do get a break when financing through BMW, more typically when doing a lease, you may get incentives for buying/leasing a new cars before the term is up, etc.

If all things are equal, then go through BMWFS. Otherwise, go for the lowest rate. Dealers do often get a kickback from banks (all banks) for directing the loan to them, and they will usually meet or beat the best rate you can find, especially if you have good credit or threaten to just write a check for the whole shebang.
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      03-07-2019, 04:06 PM   #24
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Bank of America has been steady as a rock at 3.54%

Down from 3.59% previously, so no reason at all for rates to be "up". (unless another Fed rate hike happens, or is expected)
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      03-07-2019, 04:13 PM   #25
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Quote:
Originally Posted by Poochie View Post
Sometimes even when you qualify for the best rate, the finance manager bumps it up a point so they can collection more commission.

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..
That's why I don't deal with finance managers. I just bought my car over the phone/email from a dealer 300 miles away and never talked to anyone but my SA for the whole time. Super easy process which included coordinating an ED and a courtesy delivery as well.
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      03-07-2019, 04:39 PM   #26
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Quote:
Originally Posted by CosmosMpower View Post
Quote:
Originally Posted by Poochie View Post
Sometimes even when you qualify for the best rate, the finance manager bumps it up a point so they can collection more commission.

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..
That's why I don't deal with finance managers. I just bought my car over the phone/email from a dealer 300 miles away and never talked to anyone but my SA for the whole time. Super easy process which included coordinating an ED and a courtesy delivery as well.


I get that method but at some point they're going to transfer to to the finance manager. I went with a friend to buy a car for 35k, with a paper bag of unmarked cash and the FM still had to sign off on the deal and finalize the title info.

Even if you walk in with a pre-approved check, as I always do, the FM have to confirm the terms before the loan becomes binding. So it's a necessary evil..

And also, the US federal government makes it practically illegal to purchase a new car directly from the manufacture..

https://www.google.com/amp/s/www.chi...story,amp.html
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      03-07-2019, 05:15 PM   #27
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      03-09-2019, 06:17 PM   #28
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Bank of America has lowered their new car loan rate to 3.29%
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      03-09-2019, 09:41 PM   #29
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Just got my dealer to lock me in at 2.99% through BMW Financial. Advertised APR was 4.55% in our region, other regions show 2.99% and they honored that. All I did was ask, could work for you. Credit score is above 800.
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      03-10-2019, 09:18 AM   #30
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If you can't afford it then don't buy it.
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      03-10-2019, 10:13 AM   #31
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Quote:
Originally Posted by MZWIE View Post
If you can't afford it then don't buy it.
Glad to hear you can afford to pay cash for everything. I'm sure with that mentality you can stand to say you've never financed anything in your life.
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      03-10-2019, 12:21 PM   #32
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Quote:
Originally Posted by Soulmate View Post
Bank of America has been steady as a rock at 3.54%

Down from 3.59% previously, so no reason at all for rates to be "up". (unless another Fed rate hike happens, or is expected)
Rates are on the rise.

Prime keeps going up.
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      03-10-2019, 05:13 PM   #33
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Quote:
Originally Posted by ///M TOWN. View Post
Rates are on the rise.

Prime keeps going up.
You missed my follow up post -Bk of America lowered their rate to 3.29%.
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      03-10-2019, 06:24 PM   #34
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Quote:
Originally Posted by Soulmate View Post
Quote:
Originally Posted by ///M TOWN. View Post
Rates are on the rise.

Prime keeps going up.
You missed my follow up post -Bk of America lowered their rate to 3.29%.
Gotcha.

That's up to 60 months no?
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      03-10-2019, 06:35 PM   #35
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Quote:
Originally Posted by Poochie View Post
Quote:
Originally Posted by CosmosMpower View Post
Quote:
Originally Posted by Poochie View Post
Sometimes even when you qualify for the best rate, the finance manager bumps it up a point so they can collection more commission.

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..
That's why I don't deal with finance managers. I just bought my car over the phone/email from a dealer 300 miles away and never talked to anyone but my SA for the whole time. Super easy process which included coordinating an ED and a courtesy delivery as well.


I get that method but at some point they're going to transfer to to the finance manager. I went with a friend to buy a car for 35k, with a paper bag of unmarked cash and the FM still had to sign off on the deal and finalize the title info.

Even if you walk in with a pre-approved check, as I always do, the FM have to confirm the terms before the loan becomes binding. So it's a necessary evil..

And also, the US federal government makes it practically illegal to purchase a new car directly from the manufacture..

https://www.google.com/amp/s/www.chi...story,amp.html
You can if you close all of your franchises.....
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      03-10-2019, 08:31 PM   #36
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Quote:
Originally Posted by ///M TOWN. View Post
Gotcha.

That's up to 60 months no?
Yes, afaik the standard car loan quote is for 60 months.

https://www.bankofamerica.com/auto-l...to-loan-rates/
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      03-15-2019, 07:26 AM   #37
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Quote:
Originally Posted by M2C89 View Post
Glad to hear you can afford to pay cash for everything. I'm sure with that mentality you can stand to say you've never financed anything in your life.
Only my house for tax purposes.
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      03-16-2019, 12:46 PM   #38
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2.89% for 60mos with BMWFS. Got locked in for the February rates.
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      03-16-2019, 01:18 PM   #39
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Quote:
Originally Posted by MZWIE View Post
Quote:
Originally Posted by M2C89 View Post
Glad to hear you can afford to pay cash for everything. I'm sure with that mentality you can stand to say you've never financed anything in your life.
Only my house for tax purposes.
And that's going out the window.

Paying cash for my new house.
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      03-16-2019, 02:30 PM   #40
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Quote:
Originally Posted by ///M TOWN. View Post
Quote:
Originally Posted by MZWIE View Post
Quote:
Originally Posted by M2C89 View Post
Glad to hear you can afford to pay cash for everything. I'm sure with that mentality you can stand to say you've never financed anything in your life.
Only my house for tax purposes.
And that's going out the window.

Paying cash for my new house.
I'm about to buy a new 200ft yacht in cash.
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      03-16-2019, 04:42 PM   #41
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Quote:
Originally Posted by MDuckie View Post
Quote:
Originally Posted by ///M TOWN. View Post
Quote:
Originally Posted by MZWIE View Post
Quote:
Originally Posted by M2C89 View Post
Glad to hear you can afford to pay cash for everything. I'm sure with that mentality you can stand to say you've never financed anything in your life.
Only my house for tax purposes.
And that's going out the window.

Paying cash for my new house.
I'm about to buy a new 200ft yacht in cash.


As long as you're going to really use it.

Otherwise, rent the sucker, put your name on the back, have a big party, detail it, turn that sucker in!
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      03-19-2019, 02:25 PM   #42
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Quote:
Originally Posted by MZWIE View Post
Only my house for tax purposes.
Quote:
Originally Posted by ///M TOWN. View Post
And that's going out the window.

Paying cash for my new house.
Oh yeah? Well I'm gonna pay cash for my cash!

... way to turn this into a massive dick measuring contest...
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