[jhall1957]

I don’t like debt and the only debt I have is for my 2020 M2 CS and only because I got .9% for 5 years. Anyone know what BMWFS May have to offer in the coming weeks/months?

May just trade 3020 Mini and pay balance in cash but if there is any cheap money out there…..

[02M3ForMe]

Paying cash unless there’s a big loyalty credit, in which case I’ll finance and pay it off once past the date that my store gets credit for the deal.

[GrannyShiftG80]

Originally Posted by jhall1957

I don’t like debt and the only debt I have is for my 2020 M2 CS and only because I got .9% for 5 years. Anyone know what BMWFS May have to offer in the coming weeks/months?

May just trade 3020 Mini and pay balance in cash but if there is any cheap money out there…..

7.99 finance, 8.99 lease

[jhall1957]

Originally Posted by Allenssmart

7.99 finance, 8.99 lease

Not good enough. Guess cash will do…

[sl0m0]

I was planning on financing about 40-45k, but with the long wait I've saved up enough to pretty much pay cash for all of it. I'm probably gonna finance 20k or so just to pay it off in 3-6 months just to boost my credit.

[BRAKE!]

Originally Posted by jhall1957

Not good enough. Guess cash will do…

Yeah, with the federal funds rate the way that it is, I'm not sure if you can get a low % finance deal anywhere for anything. With what the Fed has said recently, it may not go up as much per each FOMC meeting, but go up it will and go down it won't.

[BRAKE!]

Originally Posted by sl0m0

I'm probably gonna finance 20k or so just to pay it off in 3-6 months just to boost my credit.

It'll stay in your credit history, but won't boost your credit if you pay it off in 3-6 months. In fact, if you don't have any other loans, it'll drop your credit score when you do.

This isn't necessarily a bad thing as you'll be eliminating debt and I'm assuming it'll only drop by 20-30 pts.

[Dave07997S]

Originally Posted by Allenssmart

7.99 finance, 8.99 lease

Can I ask where you got those numbers? I don't see any lease or finance programs at all for the new M2.

[M_Power Rob]

Originally Posted by Allenssmart

7.99 finance, 8.99 lease

That is just for Canada, not US, correct?

[zero21]

Originally Posted by sl0m0

I need the credit history. I only have 1 loan on all of my history. I didn't use any credit cards or get any loans for about 10 years.

I don't get this, credit cards are free money with the points...

My finance rate with BofA is 4.8%. I'm going to finance half (35k) bc I've spent 70k in the last couple months on other stuff

[Bumpinjeep]

Originally Posted by Allenssmart

7.99 finance, 8.99 lease

That's absolutely horrible but par for the course. I was looking at Jeep Wranglers and they have similar rates from Chrysler. I don't know when rates will come back down but paying anything near 7% is completely unacceptable to me. I'm just so used to cheap money and I think a lot of people are too. This will drive pricing down as monthly payments will be above expectations to most people.

[GrannyShiftG80]

Originally Posted by M_Power Rob

That is just for Canada, not US, correct?

Honestly it's probably going to be close to the m3 just base it off of that

[02M3ForMe]

Originally Posted by Allenssmart

7.99 finance, 8.99 lease

If those are the numbers for Super Elite, the loyalty credit will have to be at least $2k for it to make sense to go through the hassle.

[FryCookOnVenus]

I'm going to put $20k down.

The remaining ~$40k will be financed through my credit union, or slowly paid off via trade for hard drugs, hand jobs and chocolate chip cookies.

[m2dragon]

I saved up $50,000 to put down and financing $30,000 and hoping to get an interest rate less than 5% if it’s possible.

[CodeSlinger]

Credit Union financing is still available in the 4-5% range. I'll probably do a 3 or 4 year term at that rate.

[Rx-7ames]

5.58% is the current rate for BMW unless you can find a dealership selling buy rate. Mine isn't. Credit unions are over 7% 8n PNW. USAA is 5.09% guaranteed for 45 days. Pay cash if you can. I can't.

[Egrunt]

The M2 is one of the vehicles my wife is considering. Navy Federal is offering 4.74% for 60 months. Her M2 build is coming in with a MSRP of $74,550. If we go with the M2 I will pay cash. With our M5 back in 2018 I did a loan at .9% for 60 months and also put 50k down on the M5. I still paid the M5 off in under 3 years. With the M2 paying drive off fees at 4.74%, we will pay $9,329 in interest over the 60 month term. Paying cash for any vehicle is the direction we will go moving forward.

[Vaticous]

Originally Posted by Rx-7ames

5.58% is the current rate for BMW unless you can find a dealership selling buy rate. Mine isn't. Credit unions are over 7% 8n PNW. USAA is 5.09% guaranteed for 45 days. Pay cash if you can. I can't.

Although 5.58% seems astronomical, there's much higher out there today... or maybe I am just too much of a glass half-full kinda person. Notwithstanding your specific dealer and given your experience, do you foreshadow BMW dealers offering to buy down interest rates if things get out of hand in the near future?

This makes me wonder about those who were recently offered HEA units and what rates were offered along with them. Please chime in if you're one of them and don't mind sharing with us

[Rx-7ames]

Originally Posted by Vaticous

Although 5.58% seems astronomical, there's much higher out there today... or maybe I am just too much of a glass half-full kinda person. Notwithstanding your specific dealer and given your experience, do you foreshadow BMW dealers offering to buy down interest rates if things get out of hand in the near future?

This makes me wonder about those who were recently offered HEA units and what rates were offered along with them. Please chime in if you're one of them and don't mind sharing with us

As far as I know you can always buy down your rate. The only time I have ever seen it done is when someone needs a zero percent loan for religious reasons. Otherwise I don't think it makes sense. You give the bank money right now so you don't have to give them as much money later. Just put more down and borrow less.

If someone wanted our HEA right now (or any car with an allocation) then we would pull credits and get them locked in at 5.58. If you don't want to get locked in now (or can't because you don't have an allocation like myself) then you are subject to whatever the rates are when your car or allocation gets here.

[zero21]

Originally Posted by Egrunt

The M2 is one of the vehicles my wife is considering. Navy Federal is offering 4.74% for 60 months. Her M2 build is coming in with a MSRP of $74,550. If we go with the M2 I will pay cash. With our M5 back in 2018 I did a loan at .9% for 60 months and also put 50k down on the M5. I still paid the M5 off in under 3 years. With the M2 paying drive off fees at 4.74%, we will pay $9,329 in interest over the 60 month term. Paying cash for any vehicle is the direction we will go moving forward.

I just reran my numbers last night after reading this and decided to do 50k and borrow 20k because of how much interest I'd be paying.

I've changed my mind so much on this I may even still just do cash but I opened a new CD b/c of the rates and may to take a minor penalty on it if I do more than 60k down.

[Carefree]

Paying cash. Haven’t paid any interest, except mortgages, for anything in 40 years.