[IamJoe]

Does anyone know the current BMW financing rates? My SA is telling me 6.29 for top tier, is that correct?

[JABCAT]

Did you call BMW Financial and ask? I never believe anything a SA says so... dealers typically pad the rate. When I purchased my previous BMW the rate when I contacted BMW Financial was 3.29% but the dealer told me it was 4.5%, fyi.


Bank of America is 5.99% right now for new cars.

[JMcLellan]

That's what the rates were when I purchased my car in January and I don't believe interest rates have come down since then. Actually I think I was quoted 7.29% for my M2 for a 72 month term, then 6.79% for a 60 month term. My dealership did not have any sort of incentives, loyalty credits, etc for the M2. Now if I wanted an X3 or 330i or something more high volume there were better deals to be had.

[Ravenseal]

Have you not been watching the news for the last like, year and a half? 6.29% is on the low end of rates right now. You could try to shop a local credit union for maybe 5.49.

[MineralGreyMetallic]

There is already a huge thread with tons of info that is still recent enough to be relevant. I don't think the current BMW Finance rate has changed, but if it has probably a good idea to keep all the info in the same place.

https://g87.bimmerpost.com/forums/sh....php?t=2013642

[two_three_two]

im getting my second oil change today so i asked my SA and he told me best he can do is still 5.29 when i picked my car up (friend of mine is also looking for an M2 so i am staying on top of it). but again, who knows if that is real or not coming from an SA.

[robopp]

Originally Posted by two_three_two

im getting my second oil change today so i asked my SA and he told me best he can do is still 5.29 when i picked my car up (friend of mine is also looking for an M2 so i am staying on top of it). but again, who knows if that is real or not coming from an SA.

5.29 is the buy rate. They’re marking the rate up by 1% OP.

[M_Power Rob]

Originally Posted by two_three_two

im getting my second oil change today so i asked my SA and he told me best he can do is still 5.29 when i picked my car up (friend of mine is also looking for an M2 so i am staying on top of it). but again, who knows if that is real or not coming from an SA.

That is real but not all will be offered that rate.

[Bumpinjeep]

FYI, if you're looking at the payment difference between 5.29% and 6.29%, its not much.
on a $50K loan with a 10% sales tax with a 72 month loan
5.29 = $811.99
6.29 = $835.51
Overall you're looking at a little under $1700 between the 6 years.

[xtougher]

Originally Posted by Bumpinjeep

FYI, if you're looking at the payment difference between 5.29% and 6.29%, its not much.
on a $50K loan with a 10% sales tax with a 72 month loan
5.29 = $811.99
6.29 = $835.51
Overall you're looking at a little under $1700 between the 6 years.

I know some know this, but it's always a great reminder for others...when ONLY seeing rates in conversation, a 1% difference can be alarming.

But when factored into payments (and even total cost different over the length of the loan), not quite as alarming.

That said, I think I got 5.79% last month when I picked up my car. That was at 72 months. (60 months was something like 5.29%).

[evdoho]

Echoing another reply, buy-rate is currently 5.29% through BMW FS, the maximum rate markup is 1%.
Most dealers (including mine) will seldom offer buy-rate, especially on something like an M2. So yes, 6.29% is the correct rate for 60 months top tier credit.

[Bumpinjeep]

Originally Posted by xtougher

I know some know this, but it's always a great reminder for others...when ONLY seeing rates in conversation, a 1% difference can be alarming.
But when factored into payments (and even total cost different over the length of the loan), not quite as alarming.
.

Think about it, how much are you going to make in 6 years, i'm assuming people make decent money to afford new M cars. Figure for six years you make a million, what's $1700? You get to enjoy a car daily or whenever for that amount of time.
Enjoy your life ya know? Don't let half of a percent get you out of an amazing experience.

[mdoneinvt]

Originally Posted by Bumpinjeep

Think about it, how much are you going to make in 6 years, i'm assuming people make decent money to afford new M cars. Figure for six years you make a million, what's $1700? You get to enjoy a car daily or whenever for that amount of time.
Enjoy your life ya know? Don't let half of a percent get you out of an amazing experience.

Wish i was in that category making a million in 6 years…..🤣🤣🤣

[IamJoe]

Thanks all, 6.29, and the dealer won't budge. They have an allocation so I will move forward with the purchase.

[Mr. Hankey]

Originally Posted by IamJoe

Thanks all, 6.29, and the dealer won't budge. They have an allocation so I will move forward with the purchase.

You do not lock in the interest rate until you pick your car up because you pay/finance then. Sign NOTHING that locks you to that interest rate now. If you’re ordering now the car will be 3 months away. Likely rates will be different then and occasionally BMW will have a special rate so you may get lucky. If you search BMF FS interest rates and go to 2 series or M they are advertising 5.29 including the M2 in April (at least for my zip code).

I would also ask them if that’s BMWFS rate or another bank.

[robopp]

Originally Posted by Bumpinjeep

Think about it, how much are you going to make in 6 years, i'm assuming people make decent money to afford new M cars. Figure for six years you make a million, what's $1700? You get to enjoy a car daily or whenever for that amount of time.
Enjoy your life ya know? Don't let half of a percent get you out of an amazing experience.

$1700 is $1700 and I prefer to not give a dealer $1700 when they’re already making a killing on a MSRP deal.

[Geighty7]

Originally Posted by IamJoe

Does anyone know the current BMW financing rates? My SA is telling me 6.29 for top tier, is that correct?

Your dealership is marking it up for themselves. Typically the dealership gets their rate anywhere between 4.5-5.8% and marks up from there.

I am at 5.6% right now purchased in Feb.

[xtougher]

Originally Posted by Bumpinjeep

Think about it, how much are you going to make in 6 years, i'm assuming people make decent money to afford new M cars. Figure for six years you make a million, what's $1700? You get to enjoy a car daily or whenever for that amount of time.
Enjoy your life ya know? Don't let half of a percent get you out of an amazing experience.

Yeah, I'm in mortgages, and I think people are often surprised at how much payment changes (or rather, how little it changes) with each step in interest rate. Obviously, comparing huge differences is one thing, but I'm specifically talking about the people fighting tooth and nail about 0.125% or something like that.

Originally Posted by robopp

$1700 is $1700 and I prefer to not give a dealer $1700 when they’re already making a killing on a MSRP deal.

I agree with you to a point...but I'm also the guy who forgot to take out the phone toaster even though I kept reading it didn't do much charging and was greatly successful in the warming of my phone.

In my case, I was in between that, so it's about $800-$900 difference from the lower end of that.

Oh well...LOL

[JABCAT]

Originally Posted by Mr. Hankey

You do not lock in the interest rate until you pick your car up because you pay/finance then. Sign NOTHING that locks you to that interest rate now. If you’re ordering now the car will be 3 months away. Likely rates will be different then and occasionally BMW will have a special rate so you may get lucky. If you search BMF FS interest rates and go to 2 series or M they are advertising 5.29 including the M2 in April (at least for my zip code).

I would also ask them if that’s BMWFS rate or another bank.

Exactly, and you don't have to finance through the dealer. Get your financing secured somewhere else and the dealer can either beat/match it or not.

[RockCrusher]

Originally Posted by IamJoe

Thanks all, 6.29, and the dealer won't budge. They have an allocation so I will move forward with the purchase.

This link might be of some value to you:

https://cars.usnews.com/cars-trucks/...eals/bmw-deals

[evdoho]

Originally Posted by robopp

$1700 is $1700 and I prefer to not give a dealer $1700 when they’re already making a killing on a MSRP deal.

Just out of curiosity, how much of a killing do you think a dealer actually makes on a $70k MSRP deal?

I know the answer, but I’m genuinely curious what folks outside the industry think

[robopp]

Originally Posted by evdoho

Just out of curiosity, how much of a killing do you think a dealer actually makes on a $70k MSRP deal?

I know the answer, but I’m genuinely curious what folks outside the industry think

Isn’t that a loaded question since there are a lot of milestone bonuses? Disregarding all of those, I’d say 9k on a 90k MSRP M3, which is approximately 3% more than msrp-invoice. This is also ignoring all the upselling opportunities on delivery day.