[DrewNewM2]

Originally Posted by Workodactyl

Picked up my M2 last week. I almost went with BMW finance as they were easier to deal with than my credit union, but the credit union pulled out all the stops and cut my check in time to pick up my car. BMW offered me 6.49% over 72 months with 895 credit rating (or 845 Experian), but I ended up putting 20% down and financing the rest at 4.24% over 72 months through my credit union.

Thats a great rate currently. What credit union?

[AZG87]

Originally Posted by Workodactyl

Picked up my M2 last week. I almost went with BMW finance as they were easier to deal with than my credit union, but the credit union pulled out all the stops and cut my check in time to pick up my car. BMW offered me 6.49% over 72 months with 895 credit rating (or 845 Experian), but I ended up putting 20% down and financing the rest at 4.24% over 72 months through my credit union.

Agreed with others stated that is a great rate with the current fed rates in place. Have perfect credit and had a sizeable down and couldn't touch that rate. What CU was that?

[Workodactyl]

Originally Posted by DrewNewM2

Thats a great rate currently. What credit union?

Originally Posted by AZG87

Agreed with others stated that is a great rate with the current fed rates in place. Have perfect credit and had a sizeable down and couldn't touch that rate. What CU was that?

Credit Union of New Jersey. Their 72 month rate is 5.49%, but they offer a 1% discount to State employees, which should have brought it to 4.49%, but I guess through my credit rating they offered me 4.24%.

If I didn't get the State discount, I was going to go with Navy Federal Credit Union which rate was 5.04% over 72 months.

[AZG87]

Originally Posted by Workodactyl

Credit Union of New Jersey. Their 72 month rate is 5.49%, but they offer a 1% discount to State employees, which should have brought it to 4.49%, but I guess through my credit rating they offered me 4.24%.

If I didn't get the State discount, I was going to go with Navy Federal Credit Union which rate was 5.04% over 72 months.

Excellent thank you. I'm reaching out to them tomorrow. Wonder if they'll still consider it new since no payments have been made and only like 300 miles. Do they consider trade in as part of the down or the cash portion only?

[dadjoker]

I’m in a unique situation and ended up putting 40% down and financed the rest at 0.75% over 60 months through USAA (750 equifax), seemed like an absolute no-brainer to me.

[MrTiger]

Originally Posted by dadjoker

I’m in a unique situation and ended up putting 40% down and financed the rest at 0.75% over 60 months through USAA (750 equifax), seemed like an absolute no-brainer to me.

Ridiculous rate. What is required to qualify for such a rate?

[dadjoker]

Originally Posted by MrTiger

Ridiculous rate. What is required to qualify for such a rate?

USAA career starter loan!

[AZG87]

Originally Posted by dadjoker

I’m in a unique situation and ended up putting 40% down and financed the rest at 0.75% over 60 months through USAA (750 equifax), seemed like an absolute no-brainer to me.

That's basically free money. Definitely no brainer good call.

[dadjoker]

Originally Posted by AZG87

That's basically free money. Definitely no brainer good call.

Yeah, with the money I'm going to get from selling my current car and the fact that I've had the money on hand for a year and made money with it in the market I feel like it's a relatively financially responsible decision for someone my age. Payments don't even start until August. Plus my brother is buying my AMG so I still get to borrow it every now and then!

[Can’tWait]

Originally Posted by Workodactyl

Credit Union of New Jersey. Their 72 month rate is 5.49%, but they offer a 1% discount to State employees, which should have brought it to 4.49%, but I guess through my credit rating they offered me 4.24%.

If I didn't get the State discount, I was going to go with Navy Federal Credit Union which rate was 5.04% over 72 months.

I got 6.29% through bmw but am a Navy Federal Credit Union member ! I will have to check it out !
Thanks.

[m2dragon]

Originally Posted by Can’tWait

I got 6.29% through bmw but am a Navy Federal Credit Union member ! I will have to check it out !
Thanks.

I also got 6.29% but keep in mind that CA’s are allowed to add a point to themselves for their commissions if you finance through them. So in reality you got approved for 5.29% rate and they added an extra point for themselves.

[Can’tWait]

Originally Posted by m2dragon

I also got 6.29% but keep in mind that CA’s are allowed to add a point to themselves for their commissions if you finance through them. So in reality you got approved for 5.29% rate and they added an extra point for themselves.

Interesting , that’s probably why my ca was so concerned that I completed the bmw credit application before they closed October 31st. The crunch for their end of mth. Earnings and Orders !

[JMcLellan]

I put my name back on my dealer's waiting list for the M2 and my sales rep sent me a cost estimate sheet today. 60 month financing was 6.29%, 72 month was 6.79% and both assumed zero money down up to 9k down. This is through BMW financial services. In reality who knows what it will shake out to be as I plan to put a large chunk of cash down. Here's to hoping rates get lower by the time my car is ready for pickup.

[Ointment0440]

Originally Posted by JMcLellan

I put my name back on my dealer's waiting list for the M2 and my sales rep sent me a cost estimate sheet today. 60 month financing was 6.29%, 72 month was 6.79% and both assumed zero money down up to 9k down. This is through BMW financial services. In reality who knows what it will shake out to be as I plan to put a large chunk of cash down. Here's to hoping rates get lower by the time my car is ready for pickup.

Same here, dealer offered 6.29%. Some posters earlier in the thread had suggested to check out USSFCU, so I did that and they offered me 4.99% for 48 or 5.24% for 60 months. They only do a 60 day lock though so I decided to hold off on applying until delivery date is closer.

[JMcLellan]

Originally Posted by Ointment0440

Same here, dealer offered 6.29%. Some posters earlier in the thread had suggested to check out USSFCU, so I did that and they offered me 4.99% for 48 or 5.24% for 60 months. They only do a 60 day lock though so I decided to hold off on applying until delivery date is closer.

Nice. Those are much better rates. I will need to keep a credit union in mind when my car is close to ready. My home mortgage is through a credit union and not sure why I keep forgetting about them.

[AZG87]

Originally Posted by Ointment0440

Same here, dealer offered 6.29%. Some posters earlier in the thread had suggested to check out USSFCU, so I did that and they offered me 4.99% for 48 or 5.24% for 60 months. They only do a 60 day lock though so I decided to hold off on applying until delivery date is closer.

The way rates are right now these are pretty solid.

[apez]

I had 4.99 via dealer, but lock expired at end of October while my car was sitting at Port Jersey for 3 weeks. New rate is 5.29, which isn't terrible but hurts that my HAS install cost me a better rate.

[AZG87]

Originally Posted by apez

I had 4.99 via dealer, but lock expired at end of October while my car was sitting at Port Jersey for 3 weeks. New rate is 5.29, which isn't terrible but hurts that my HAS install cost me a better rate.

I had something similar they were waiting on parts for HAS install at VPC and so delivery got bumped from end of Sept into first week of Oct. Rate increased .3%. Will refi as soon as possible.

[Jacob657]

Originally Posted by apez

I had 4.99 via dealer, but lock expired at end of October while my car was sitting at Port Jersey for 3 weeks. New rate is 5.29, which isn't terrible but hurts that my HAS install cost me a better rate.

My CA told me I was locked at 5.99. Found a week or so before that from another CA that BMWFI rate was 4.99 buy rate. Are you sure they’re not just bluffing you since the CA can get commission on any extra percentage point(s)? Feds haven’t raised rates and I believe dealers and banks follow this trend.

[apez]

Originally Posted by Jacob657

My CA told me I was locked at 5.99. Found a week or so before that from another CA that BMWFI rate was 4.99 buy rate. Are you sure they’re not just bluffing you since the CA can get commission on any extra percentage point(s)? Feds haven’t raised rates and I believe dealers and banks follow this trend.

The 4.99 rate was July, expired end of October. Rates had been raised in that period.

[Bearded-Driver]

i was quoted 6.29 at 60 but that was not running credit. are their incentives popping up?

[Jacob657]

Originally Posted by apez

The 4.99 rate was July, expired end of October. Rates had been raised in that period.

Damn. I was quoted that rate end of August. Hopefully the dealer will want to get my financing bc it seems like they’re (unusually) higher than everywhere else.