[apez]

Originally Posted by Bearded-Driver

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

I think that is the dealer adding a point.

[TBURKE555]

That's correct. The dealer is adding a point. You should be able to get 5.29%

[miiipilot]

Originally Posted by TBURKE555

That's correct. The dealer is adding a point. You should be able to get 5.29%

Same thing with me, they wouldn't budge.

Wouldn't tell me the buy or sell rate, just what they offered

[1stM]

Originally Posted by TBURKE555

That's correct. The dealer is adding a point. You should be able to get 5.29%

I was going to pay cash but then decided to pay partial. The dealer offered 6.29% which is +0.04 higher than my bank.

[///M TOWN]

Navy Federal is the best I’ve found

5.29 for 6 years up from 5.04

Rates are a deal killer

[ttaidapos]

6.29% here as well in the Chicagoland. Trying out USSFCU, they're advertising 4.74% right now. Depending how much you finance, this is a good chunk of change.

[DrewNewM2]

Originally Posted by ///M TOWN

Navy Federal is the best I’ve found

5.29 for 6 years up from 5.04

Rates are a deal killer

That was the best I found so went for it. Just did my membership and approval on the phone yesterday and got my pre approval check Today via FedEx overnight.

I’m not a Veteran but my father is and even though I had copy of his Veteran ID, they took my word for it and didn’t ask for any backup.

[3pedals]

Bank of Labor (several branches in KS but perhaps other states as well)

5% up to 72 months

If you set up auto draft payments from a checking account with them, they knock a quarter of a point off, so effectively 4.75%.

[MineralGreyMetallic]

Any news on interest rates?

I'm shopping around now and everything looks terrible.

Does Bank of Labor service outside of KS?

[two_three_two]

6% flat from BMW. Initially wouldn't budget off 6.29%. Betting that I will be able to re-fi at a favorable rate in 2025.

[MrTiger]

Originally Posted by two_three_two

6% flat from BMW. Initially wouldn't budget off 6.29%. Betting that I will be able to re-fi at a favorable rate in 2025.

You will be able to refi to lower rate IF rates drop and that is a big IF. Navy Federal Credit Union has a rate of 4.59%

[MineralGreyMetallic]

My CA quoted 6.29% for 60 months. Don't love it.

Even Bank of America is offering 6.19% at the moment.

[yuzu]

Base BMW rate is still 5.29%, anything different is dealer markup or you could have bad credit lol

[two_three_two]

Originally Posted by MrTiger

You will be able to refi to lower rate IF rates drop and that is a big IF. Navy Federal Credit Union has a rate of 4.59%

rates falling is an inevitability of the next ~2 years. the exact cadence and timing can be debated.

[two_three_two]

Originally Posted by yuzu

Base BMW rate is still 5.29%, anything different is dealer markup or you could have bad credit lol

skimming points off tier 1 credit customers is literally part of the business model for a lot of these dealers.

[MineralGreyMetallic]

What are the magic words I need to say to my dealership so they give me 5.29%?

I'm not sure I even want to fight that battle for 1%

[two_three_two]

Originally Posted by MineralGreyMetallic

What are the magic words I need to say to my dealership so they give me 5.29%?

I'm not sure I even want to fight that battle for 1%

my local bank beat it by almost a full point but had some caveats attached so i passed. depending on how much you put down its between 1-3k over the course of the payments at 60 mo to knock it down a point. i know my dealer basically builds it in and it took some hardball to even get it down to 6% as a tier 1 credit customer.

[MineralGreyMetallic]

Originally Posted by two_three_two

my local bank beat it by almost a full point but had some caveats attached so i passed. depending on how much you put down its between 1-3k over the course of the payments at 60 mo to knock it down a point. i know my dealer basically builds it in and it took some hardball to even get it down to 6% as a tier 1 credit
customer.

Yeah, it's a great point.

With the amount I'm going to borrow the difference between 5.29% and 6.29% is about $1k over 5 years.

That's not worth the headache of having to threaten to "walk away" from the deal, or having to spend weeks hunting down a bank.

That's just me.

[two_three_two]

Originally Posted by MineralGreyMetallic

Yeah, it's a great point.

With the amount I'm going to borrow the difference between 5.29% and 6.29% is about $1k over 5 years.

That's not worth the headache of having to threaten to "walk away" from the deal, or having to spend weeks hunting down a bank.

That's just me.

yep, i was in the same boat. they had already given me everything else i asked for. beating them up for a couple hundred bucks over the course of 5 years seemed like more hassle than it was worth. if you're putting less than 20% down counting bps is worth it.

[BMR.WRLD]

I'm hoping rates come down next year by the time my M2 is made, currently Jan 21/27 production. It's 80K before taxes and fees. I have excellent credit but I doubt I'll get approved for that amount, nor would I want to with these high rates. (Last car loan was 44K) I'll be putting down at least 30K cash for down payment to combat this.

[matty_f]

Originally Posted by yuzu

Base BMW rate is still 5.29%, anything different is dealer markup or you could have bad credit lol

My CA and finance said 6.29% was the base. I’m putting $50k down, 827 credit score. Where’s your data from?

I can refi whenever, but if I got 5.29, I’d probably stick with it and not shop around. But if they’re lying to me then I’ll refi at my credit union for 5.75% immediately so they don’t get the loan credit.

[matty_f]

Originally Posted by MineralGreyMetallic

What are the magic words I need to say to my dealership so they give me 5.29%?

I'm not sure I even want to fight that battle for 1%

+1, but I will fight purely out of spite.

And yes I’m a total ass, but $1000 is a denomination of money that I’m poor enough to count in.

But more importantly, when are we hitting the ACH after our cars come in.