[dPanda]

When I ordered the car, they ran my credit and they got back fico score of 757 with 2.9% for 60 months. Does this sound right? I do have short credit history (2 years) and this isn’t my first car (currently have a leased vehicle).

My car is in the quality check phase with the locked in rate at 2.9%, and more research in this has been done on my end after ordering the car and I am starting to think that I can do better than 2.9%. What did you guys get offered? Is it possible for me to negotiate this after the car arrives?

BMW website does say 0.9% available for qualified buyers. What credit score and history is needed to qualify for this? Thank you!

[anasryadi]

Originally Posted by dPanda

When I ordered the car, they ran my credit and they got back fico score of 757 with 2.9% for 60 months. Does this sound right? I do have short credit history (2 years) and this isn’t my first car (currently have a leased vehicle).

My car is in the quality check phase with the locked in rate at 2.9%, and more research in this has been done on my end after ordering the car and I am starting to think that I can do better than 2.9%. What did you guys get offered? Is it possible for me to negotiate this after the car arrives?

BMW website does say 0.9% available for qualified buyers. What credit score and history is needed to qualify for this? Thank you!

Anything above 750 is excellent. You qualify for the 0.9 apr for up to 60 months. Some dealers are crooks and they would give you a higher rate to add incentives to make the car price lower while they markup the price. But sometimes you score shows up as 750 when it's really 700. The apps that you use to check your score are not always accurate.

[Retrospaz85]

2.04% from my bank, bmw was looking at 2.9, apparantly the dealer marks up one percent as their "fee" so I'm told..

[Good 4 2 reasons]

When I got the car November 12th, the dealer offered me 0.9% for 48 months and 1.9% for 60 months, no money down. I'd have to go back and look at the paperwork, but I think the credit score they showed for me was 778 or something like that.

[mechman]

I got 0.9% for 60months and I specifically had to point my dealer to the BMW USA website before he confirmed it could be done. Its usually 1% point higher for 72 months so I think you can do 1.9% for 72 if your score is good.

[Dinosoar]

3.29% for 84 months from my credit union.

[Lightngsvt]

My credit union is offering 1.99% up to 66 months. Why not shop your bank, or a CU, and if the rate is better tell the dealer that you'll go through them if they match the rate, or else you'll finance externally.

[CHI2PC]

Originally Posted by m3mahesh

I got 0.9% for 60months and I specifically had to point my dealer to the BMW USA website before he confirmed it could be done. Its usually 1% point higher for 72 months so I think you can do 1.9% for 72 if your score is good.

This. .9% APR over 60 months, per the BMW website. You can do the BMW credit app online as well. Some dealer out there will cut the ish and give you the advertised APR. Just have to look around.

[conradb58]

2.69% for 72 months from my credit union

[PNW240]

Originally Posted by m3mahesh

I got 0.9% for 60months and I specifically had to point my dealer to the BMW USA website before he confirmed it could be done. Its usually 1% point higher for 72 months so I think you can do 1.9% for 72 if your score is good.

I also had to call mine out as giving a worse offer than the website. They cried about their razor thin margins and I told them .9% or no sale. Locked in .9% 60 months with an ‘excellent’ credit score

[GT_Juls]

.9 from BMW financial.

[Poochie]

Originally Posted by jhan315

.9 from BMW financial.

That's hot, .9% is basically an interest-free loan 👍🏻

[PNW240]

Quick update as I picked the car up Friday: My .9% approved start of December 2021 was honored 2/25/22. Saw a report somewhere of someone getting rate shopped and lost their .9 so wanted to let y'all know.

Finance manager made sure to tell me how LUCKY I was to have such a low rate.. They wouldn't have had a deal otherwise though!

[cosmicphotons]

Originally Posted by PNW240

Saw a report somewhere of someone getting rate shopped and lost their .9 so wanted to let y'all know.

That was me, but my CA confirmed this weekend that they were able to re-secure the .9% rate.

[PNW240]

Originally Posted by cosmicphotons

That was me, but my CA confirmed this weekend that they were able to re-secure the .9% rate.

Good news! I told them the story and they were surprised to hear it

[Jashue]

Money down and car has been ordered (though I have yet to get a build number).
I'm going for 72 months (I know I should go less, but it is what it is), and in the mock-up sales agreement I was granted a 3.99% rate. That seemed high to me— but I just figured "that's what the going rate is" so I didn't quarrel about it. I told them to start the process to lock me into that lest rates goes up in March or months subsequent to that.
My credit history has not yet factored into the equation as I don't even think they've run it yet (if the app is any indication). And yes, I know that apps such as Credit Karma are not to be taken as gospel.
Per CK, my TransUnion is 818, and Equifax is 830. Per the link to Experion on my banks website, my score is 820. These are not bad scores.
So from what I'm reading here-- it looks like I'm going to get boned unless I take measures to change things. Not sure what I can do though aside from shopping banks. Why would my dealer default to 3.99%?

[Golddog]

0%, paying cash when it arrives.

[AppraiserGuy]

I'm paying cash; however, my CA just advised that if I were financing, the rate would be 2.49% (Indianapolis Area).

[PNW240]

Originally Posted by Jashue

Money down and car has been ordered (though I have yet to get a build number).
I'm going for 72 months (I know I should go less, but it is what it is), and in the mock-up sales agreement I was granted a 3.99% rate. That seemed high to me— but I just figured "that's what the going rate is" so I didn't quarrel about it. I told them to start the process to lock me into that lest rates goes up in March or months subsequent to that.
My credit history has not yet factored into the equation as I don't even think they've run it yet (if the app is any indication). And yes, I know that apps such as Credit Karma are not to be taken as gospel.
Per CK, my TransUnion is 818, and Equifax is 830. Per the link to Experion on my banks website, my score is 820. These are not bad scores.
So from what I'm reading here-- it looks like I'm going to get boned unless I take measures to change things. Not sure what I can do though aside from shopping banks. Why would my dealer default to 3.99%?

I think 72 months will usually knock you out of the most competitive rates based on my clicking around. Your credit score should qualify you for whatever term you want. From what I was told Friday, 3.49 would be about the best you could get from BMW Financial right now anyway.

[Jashue]

Originally Posted by Golddog

0%, paying cash when it arrives.

Well given the thread is titled "What APR did you guys get..." your response is a waste of everyone's time.

Nice flex though?

[P_Chris]

I got 1.9% because the dealer said the .9% was expired which I confirmed online. I guess they could have given me the .9% since I thought I "locked in" early November. Not a big deal since I'm not financing that much.

[Golddog]

Originally Posted by Jashue

Well given the thread is titled "What APR did you guys get..." your response is a waste of everyone's time.

Nice flex though?

If its a waste of time, why did you respond to it???

In all seriousness, I run a credit union and with the scores your are stating you have, you should be able to get a much better rate. Granted interest rates are going up. If you are not a member of a credit union, do a search in your area to see where you can join one. You may be able to cut that rate in half.