Interest Rate ???

AZG87 · 09-07-2023, 12:06 PM

Quote:

Originally Posted by clydefrog

Really? They went up ~3.5%?

I only have what my CA told me. Unless he was just joking to make me feel better about locking it in back at the time of deposit. But based on the continuing fed rate hikes not surprised.

clydefrog · 09-07-2023, 12:11 PM

Quote:

Originally Posted by AZG87

I only have what my CA told me. Unless he was just joking to make me feel better about locking it in back at the time of deposit. But based on the continuing fed rate hikes not surprised.

The last fed rate hike was in July though to ~5.5% so 9.X% would be pretty egregious.

Legit · 09-07-2023, 12:13 PM

I locked in 4.99% 60 months with BMW NA last month. Car will be delivered in November most likely. If rates go up I hold the 4.99 and vice versa

yuzu · 09-07-2023, 12:39 PM

September BMW FS is at 5.29% btw

rcouchh · 09-07-2023, 02:07 PM

My rate was 5.99% @ 60 mo. with a 775 score from BMW FS last week.

yuzu · 09-07-2023, 02:17 PM

Quote:

Originally Posted by rcouchh

My rate was 5.99% @ 60 mo. with a 775 score from BMW FS last week.

Looks like you got 4.99 with 1% dealer markup

c1pher · 09-07-2023, 02:19 PM

NFCU is 4.74% for 60 months according to their site.

tylerdurdem · 09-07-2023, 02:20 PM

I got 5.74% through a CU (best rate either I or the dealer could find) for 60 months with $30k down with a 850+ credit score back in April.

Sethhboii · 09-07-2023, 02:44 PM

Quote:

Originally Posted by rcouchh

My rate was 5.99% @ 60 mo. with a 775 score from BMW FS last week.

Same here and this was in 8/17 for me

yuzu · 09-07-2023, 02:51 PM

Quote:

Originally Posted by Sethhboii

Same here and this was in 8/17 for me

I'm expecting my dealer to come back at me with 6.29%

DarkNight707 · 10-12-2023, 11:25 AM

Quote:

Originally Posted by CodeSlinger

Got locked in for 5.99% for 60 months. Sounds like that's the full 1% markup above the buy rate. I'm going to be shopping around with Credit Unions to see how much they can beat it by and then either go with them or try to get BMW FS down closer to the buy rate.

The credit unions I know of that offer lower rates are:

* ussfcu.org - 60 month @ 3.74% - (anyone can get membership, once I'm a member I'll apply for the loan to see where I end up)

* massbaycu.org - 60 month @ 4.49% - (I have a loan through them already, I was gonna try to go with them but they have a max of auto loans per customer of $80k which I'll be a bit over)

* dcu.org - 65 month @ 5.74% - (not much lower than BMW but already a member so I can get an easy approval to see if the dealer can match it)

Thanks for the insight! I ended up going with ussfcu.org. They had the best rate and provided great costumer service! BMW could not even get close to their rate.

Shizzel720 · 10-12-2023, 12:04 PM

Quote:

Originally Posted by DarkNight707

Thanks for the insight! I ended up going with ussfcu.org. They had the best rate and provided great costumer service! BMW could not even get close to their rate.

What rate did you end up getting?

DarkNight707 · 10-12-2023, 01:15 PM

Quote:

Originally Posted by Shizzel720

What rate did you end up getting?

4.99% for a 60-month term. Crazy 4.99 is a good rate these days! The dealer was not buckling with their 6.29%, they were not even interested on negotiating.

Shizzel720 · 10-12-2023, 01:17 PM

Quote:

Originally Posted by DarkNight707

4.99% for a 60-month term. Crazy 4.99 is a good rate these days! The dealer was not buckling with their 6.29%, they were not even interested on negotiating.

Yeah that’s a pretty good rate. Dealer definitely marked up from base.

c1pher · 10-12-2023, 01:53 PM

I ended up taking the 5.04% at NFCU for 72 months. I'll likely pay it off sooner, but it gives me some flexibility if I want to allocate money somewhere else a particular month.

kyrix1st · 10-12-2023, 09:50 PM

Terrible.

BES418 · 10-12-2023, 10:28 PM

I got locked in bmwfs at 5.49@72. Was locked in from may programs and got extensions.

TorontoRedCoastie · 10-12-2023, 11:04 PM

BMW was offering in the 6% range when I purchased mine.

I was prepared to pay cash and wanted to see what they could offer if I financed with them. Ended up not being worth it so I wrote the check/credit card swipe (only allowed $5k).

c1pher · 10-14-2023, 07:44 AM

Seems like rates have definitely increased over just a few weeks.

Carefree · 10-14-2023, 11:24 AM

I paid cash but the Bank Of America rate for 60 month preferred customer was 6.29% last I checked.

M_Power Rob · 10-14-2023, 12:33 PM

Quote:

Originally Posted by TorontoRedCoastie

BMW was offering in the 6% range when I purchased mine.

I was prepared to pay cash and wanted to see what they could offer if I financed with them. Ended up not being worth it so I wrote the check/credit card swipe (only allowed $5k).

Yup, BMW has a $5k max on a card.

P0!ntBlank5436 · 10-14-2023, 12:34 PM

Quote:

Originally Posted by M_Power Rob

Yup, BMW has a $5k max on a card.

So how does one put a down payment on a car with a debit card? 🤔 I'm trying to put a sizeable amount down lol

09-07-2023, 12:13 PM	#69
Legit Private 100 Rep 94 Posts Drives: 2024 G87 M2 (6spd Manual) Join Date: Jul 2023 Location: Tx iTrader: (0)	I locked in 4.99% 60 months with BMW NA last month. Car will be delivered in November most likely. If rates go up I hold the 4.99 and vice versa
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09-07-2023, 12:39 PM	#70
yuzu First Lieutenant 624 Rep 355 Posts Drives: BMW Join Date: Aug 2023 Location: PNW iTrader: (2)	September BMW FS is at 5.29% btw
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09-07-2023, 02:07 PM	#71
rcouchh Captain 2381 Rep 803 Posts Drives: BSM G87 Join Date: Oct 2020 Location: Philly iTrader: (0)	My rate was 5.99% @ 60 mo. with a 775 score from BMW FS last week.
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09-07-2023, 02:19 PM	#73
c1pher Primo Generalissimo 4701 Rep 4,043 Posts Drives: All of them Join Date: Jun 2009 Location: DC area iTrader: (0) Garage List 2017 Porsche 911 Ca ... [10.00] 2023 BMW M2 [9.00] 2023 Porsche Macan GTS [10.00] 2022 Ford F-250 Tremor [8.50]	NFCU is 4.74% for 60 months according to their site.
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09-07-2023, 02:20 PM	#74
tylerdurdem Private 96 Rep 99 Posts Drives: 2023 BGM M2 Join Date: May 2023 Location: Portland iTrader: (0)	I got 5.74% through a CU (best rate either I or the dealer could find) for 60 months with $30k down with a 850+ credit score back in April.
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10-12-2023, 01:53 PM	#81
c1pher Primo Generalissimo 4701 Rep 4,043 Posts Drives: All of them Join Date: Jun 2009 Location: DC area iTrader: (0) Garage List 2017 Porsche 911 Ca ... [10.00] 2023 BMW M2 [9.00] 2023 Porsche Macan GTS [10.00] 2022 Ford F-250 Tremor [8.50]	I ended up taking the 5.04% at NFCU for 72 months. I'll likely pay it off sooner, but it gives me some flexibility if I want to allocate money somewhere else a particular month.
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10-12-2023, 09:50 PM	#82
kyrix1st Colonel 2380 Rep 2,370 Posts Drives: G87 M2; E92M3 MT&DCT; M3 euro Join Date: Sep 2014 Location: nyc iTrader: (0) Garage List 2004 BMW Z4 [0.00]	Terrible. __________________ Pass me if you can.
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10-12-2023, 10:28 PM	#83
BES418 Enlisted Member 57 Rep 37 Posts Drives: G87 M2 Join Date: Mar 2015 Location: New York, NY iTrader: (0)	I got locked in bmwfs at 5.49@72. Was locked in from may programs and got extensions. __________________ 2023 G87 M2 - ZB/Cognac 6MT Past: 2019 Golf R 6MT White/Black 2013 E82 135i 6MT Mineral Grey/Red 2016 500 Abarth 5MT Red/Black
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10-12-2023, 11:04 PM	#84
TorontoRedCoastie Enlisted Member 116 Rep 39 Posts Drives: 2024 BMW G87 M2 Join Date: Oct 2023 Location: Pacific Northwest iTrader: (0)	BMW was offering in the 6% range when I purchased mine. I was prepared to pay cash and wanted to see what they could offer if I financed with them. Ended up not being worth it so I wrote the check/credit card swipe (only allowed $5k).
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10-14-2023, 07:44 AM	#85
c1pher Primo Generalissimo 4701 Rep 4,043 Posts Drives: All of them Join Date: Jun 2009 Location: DC area iTrader: (0) Garage List 2017 Porsche 911 Ca ... [10.00] 2023 BMW M2 [9.00] 2023 Porsche Macan GTS [10.00] 2022 Ford F-250 Tremor [8.50]	Seems like rates have definitely increased over just a few weeks.
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10-14-2023, 11:24 AM	#86
Carefree Major 1771 Rep 1,153 Posts Drives: M240i, M2 Join Date: Jan 2023 Location: Arizona, New York iTrader: (0)	I paid cash but the Bank Of America rate for 60 month preferred customer was 6.29% last I checked.
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