01-04-2019, 11:37 AM | #23 |
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I was able to score a 1.99 on a 48 month loan through a local credit union here in So Cal. Rate was low because I put about 50% down and signed up for auto pay. Frontwave (formerly Pacific Marine) if anyone is local and interested.
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01-04-2019, 04:02 PM | #24 |
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Drives: 2008 E92 M3, 2016 X5 M Sport
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Must be socal resident? Local CUs in norcal are nowhere near 1.99.
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01-07-2019, 02:22 PM | #25 |
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01-17-2019, 07:18 PM | #26 |
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I live in Massachusetts, my dealer in Connecticut is playing games with the bank rate 4.50% NOT the 2.89% on the BMW USA site
update: on the site with a CT zip code it's 4.5% true but in MA my state (garaged vehicle address) is 2.89% I guess it's state by state for rates |
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01-18-2019, 10:22 AM | #28 |
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Bmw USA site Massachusetts zip
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01-19-2019, 12:58 PM | #29 |
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My dealer is telling me because it's located in Connecticut and I'm in Massachusetts best rate go's Connecticut selling store not home address @ 4.49% not 2.89% ($50k) extra finance charge for 60 months over $2100
buying state not home state... Note: none of my local boston dealers had allocation. Now after December my home credit union rate is now nearly the same Update: got .25% discount for financing less than 85% of vehicle, now it's 4.24% |
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01-29-2019, 11:45 AM | #30 |
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Boggles my mind after reading these posts, that in my area all the local CUs are ranging from 3.59 (36mon) to 4.25 (60mon).
BMW finance rate in my area is 4.55. I don't even know why I bothered to look it up. The only "decent" one is NavyFed that is offering 2.99 for 36 months. Are you guys getting a significant, lower rate once you formally apply (obv pending excellent credit or not)? I'm just perusing through the sites and seeing their "as low as" rates. |
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01-29-2019, 04:03 PM | #31 | |
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Connecticut dealer gave me 4.24% told me they will not match Boston's 2.89% I called another dealer in CT to compare, what's best rate with great credit you can get me with bmw financial, 5.55% lol I think they just makeup #'s If they sell a loan above 3% December/January they keep a good portion of the difference (backend money) $300 per unit inflated finance/lease rate @ 100 to 120 cars sold per month X's 12 months = $250k to $350k a year profit, in my case making me spend $2100 more in finance life of the loan For a few hundred back end money they will F you without buying dinner Don't take it personal it's just a big revenue stream Bmw told me it's up to the dealer what they offer in finance... |
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01-29-2019, 04:09 PM | #32 |
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From what I've seen talking to dealers about rates is they will quote you 1-2% above what BMW Financial has listed for their zip. So 2.89 -> 3.89, 4.55 -> 5.55.
I havent gotten to the point of bartering down those rates to compete but I'm sure going in with good credit and a better rate from another company will help. |
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01-29-2019, 04:21 PM | #33 | |
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I asked why the games? I purchased @ msrp. Your credit might be a factor for best rate, that (might) be the reason we offer what's available to you, lol I'm over 800 credit score? she did not know what to say, soon she said it was a market thing. This dealer was full of crap BUT they had a spot for my order, no nearby dealer had allocation |
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01-29-2019, 11:56 PM | #34 |
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if my local area (CA) is 2.89% and the dealer where I am buying at is 4.89%. Can i finance through my local dealer where I pick the car up at.
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01-30-2019, 08:42 AM | #35 |
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02-01-2019, 04:41 PM | #36 |
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So the finance rate goes by location/dealer? I'm seeing 4.55% on 18 M2 and 19 M2C on BMW NA website. I just got a new 18' and ended up financing at 3.89% for 60 months through BMWFS. I was told this was the best rate that they had available.
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02-02-2019, 11:08 AM | #37 | |
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2.89% to 5.55% they play with what's available market area your home area After deposit and given allocation they then told me my rate, my fault for not verifying, I assumed I would get best rate 2.89% from bmw site (great credit tier 1) Settled for 4.24% after I told them I'm considering canceling, magically they found a way to lower it a bit |
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02-02-2019, 01:40 PM | #38 | |
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I have 818 right now, and I'll damn near have my head fall off from the all shaking it'll do if they give me the same rate |
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02-02-2019, 01:48 PM | #39 | ||
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who is eligible? what market? Buyers address or dealer location? Like I said dealer games to justify padding the rate. They will have you the customer pay thousands more in finance rate if they can get a few hundred on the back end with finance The line about market area and rates are so bull, I called a few bmw stores ALL had different numbers for best rate, I had to go with these ass clowns because they had a order spot. They also did another prick move, claim my order for 6MT wasn't available must order automatic $2950 more (few hundred) more profit to dealer, I called bull shit again, bmw got involved made them change it to what I wanted, again magically it was possible |
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02-05-2019, 06:27 AM | #40 |
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Wanted to add to the purchase experience conversation.
Looking to get into a HS M2C. Local dealer, who I've used before, is trying to source a car. He's saying $1000 off msrp and 2.89/60 months through BMW will work. It's an automatic car. |
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02-20-2019, 08:42 AM | #42 | |
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They got all of my scores, used TransUnion my best score over 800 but still played games on the rate Likely they will play games just be aware They will say we can't give you a rate until we see your score, lots of factors... Good luck |
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02-20-2019, 06:22 PM | #43 |
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This could be a good deal depending on the car the dealer finds/trades for as long as it does not have a lot of random accessories or carbon bits adding to the cost that you may or may not want to pay for.
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02-20-2019, 06:25 PM | #44 |
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Why are there so many hung up in finding a local credit union for the best rates? As long as you can meet the minimal membership requirements, not all the credit unions will require you to be a local resident. If you can find a good loan rate and are eligible to join, you can usually complete the account setup process on the phone or online and fund the account directly with electronic transfers.
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