[StradaRedlands]

Originally Posted by BMW Guy

I got the approval terms for my Refi request from Space Coast Credit Union. I might try and get them to lower the rate even more but for now, here's what they offered: 245 a month for 48 months with gap insurance which I will decline so more like 230 and 220 which is great considering my current loan is 495 a month with a term of 60 months. And guess what? My APR is going to be around 12%! I know this is still high but compared to my old rate of 27%, I'll take this any day. I am now just waiting to hear back from them now. So glad I decided to go back and try to apply again at this place. Thank you guys for the inspiration to not give up trying!

That is going to give you some peace of mind... now you can start saving for maintenance & repair costs!!! Try to keep on track to pay off quickly though... will be nice to not having that hanging over you!

[lookalikehuuh]

I would actually continue to pay the ~$500 a month if you can, that way you will be able to have the car paid off in less than half the time. Not only that but you will save a bundle on interest since the excess will go directly to the principle.

[BMW Guy]

Originally Posted by lookalikehuuh

I would actually continue to pay the ~$500 a month if you can, that way you will be able to have the car paid off in less than half the time. Not only that but you will save a bundle on interest since the excess will go directly to the principle.

Still planning on paying it down as fast as I can. My balance will be around 5k in a few weeks thanks to my college refund, so I will still be paying the car off by around February of next year.

[BMW Guy]

Just signed about an hour ago. My payment is 203 and the interest rate is 12%. I can make principal-only payments with this bank which is something my other account didn't allow. Thank you guys for all the help and if all goes as planned, I'll be the legal owner of my car in January!

[Efthreeoh]

Originally Posted by BMW Guy

Just signed about an hour ago. My payment is 203 and the interest rate is 12%. I can make principal-only payments with this bank which is something my other account didn't allow. Thank you guys for all the help and if all goes as planned, I'll be the legal owner of my car in January!

You are the legal owner now...

[BMW Guy]

Originally Posted by Efthreeoh

You are the legal owner now...

I mean the outright owner. The bank has the title.

[Efthreeoh]

Originally Posted by BMW Guy

I mean the outright owner. The bank has the title.

I did too. You are legally the outright owner. The bank has a Lien title.

[BMW Guy]

Originally Posted by Efthreeoh

I did too. You are legally the outright owner. The bank has a Lien title.

Oh, didn't know it was called that. I'll at least have the title in January.

[Fredo]

Originally Posted by BMW Guy

Just signed about an hour ago. My payment is 203 and the interest rate is 12%. I can make principal-only payments with this bank which is something my other account didn't allow. Thank you guys for all the help and if all goes as planned, I'll be the legal owner of my car in January!

Congrats, man! Well done.

[lordnikon]

Is that an individual colour?

[BMW Guy]

Originally Posted by lordnikon

Is that an individual colour?

It is the platinum-bronze metallic color.