Who has the best vehicle loan rates right now?

M3to335 · 02-04-2007, 01:55 PM

In a few weeks my coupe will be arriving and am currently searching for rates.

Best I could find was 6.25% from eloan, bt I know there has to be better out there.

Help me out guys

808e46m3 · 02-04-2007, 02:06 PM

Try your local credit union. Otherwise, costco (if you're a member) has pretty good rates too.

rmorin49 · 02-04-2007, 07:13 PM

USAA Federal Savings Bank 5.99

m3power13 · 02-04-2007, 07:37 PM

5.95%

SteveMD · 02-04-2007, 08:26 PM

Do you have a house? Do you have equity in your house? If so, get a home equity loan, set it for 3,4,5 years and deduct the interest.

John 070 · 02-04-2007, 09:08 PM

I considered a home equity loan too, but my HELOC is at prime minus 0.75, or 7.5%. Even after taxes I don't feel that's attractive...and the danger to me is that the minimum payment is very small, interest only, so there's the tendency to let the payment amount slide imho....

M3to335 · 02-05-2007, 07:34 AM

Yeah my home equity loans rate is no good.

M3Power- Where did you get 5.95%

Rmorin49 - I definately cant get USAA

STE92VE · 02-06-2007, 07:01 PM

MY CU has Home Equity Loan rate of 6.49%, with automatic withdrawals.

M3to335 · 02-06-2007, 08:57 PM

Here is an interesting tidbit.

My credit is impeccable. So I went through Capital one (who advertises 5.99) to get a loan. After they pulled my credit they said all i could get was 8%!!! WTF!?! I JUST checked with my credit union and bank of america a few days earlier and was approved for the lowest possible rate.

Just to see what the hell was going on, I went ahead and filled out another application for Capital one under my wifes name (who has the highest possible credit score you can get). They came back with 6.5%. Eh? What?

So basically what I found from this exercise is that Capital one has no rhym or reason as to what rate they give you. AND its physically impossible to get the rate they advertise. Lovely!

I may just use E-loan at 6.25%

bludgeon29 · 02-07-2007, 11:10 AM

Quote:

Originally Posted by M3to335

Here is an interesting tidbit.

My credit is impeccable. So I went through Capital one (who advertises 5.99) to get a loan. After they pulled my credit they said all i could get was 8%!!! WTF!?! I JUST checked with my credit union and bank of america a few days earlier and was approved for the lowest possible rate.

Just to see what the hell was going on, I went ahead and filled out another application for Capital one under my wifes name (who has the highest possible credit score you can get). They came back with 6.5%. Eh? What?

So basically what I found from this exercise is that Capital one has no rhym or reason as to what rate they give you. AND its physically impossible to get the rate they advertise. Lovely!

I may just use E-loan at 6.25%

Its just the other way round for me.... Eloan gave me 9% and Capital One 6.9%. I finally went with a local credit union - 6.25%

M3to335 · 02-07-2007, 05:40 PM

hmm, Im going to run it through Eloan and see what they come up. My credit union is currently 6.39%

John 070 · 02-07-2007, 05:50 PM

I actually was looking for a payment around $450 and adjusted my downpayment accordingly. But since I'm getting 5.05% in my internet savings account, I didn't really save much by financing less as opposed to more.

At one point I did come across the Navy FCU at 5% for I think up to 6 years, now that's a nice rate. I was approved at CapOne for 6.4% and my blank check came. Their customer service was ok, but when I called to go over it it was as if I were interrupting the phone rep's day. That happened twice. By contrast, my former employer's credit union was very friendly and helpful. But the dealer beat them by .25%....

IndianPoweredE90 · 02-07-2007, 05:55 PM

i used Capital Ones Blank check loan and i already had a loan for my nissan titan which is still at around 13k and that was my first vehicle i ever financed on my own. that loan rate was 7.10% and the beamer i got at 6.85 from capital one. I plan to refinance both in 6 monthes because i wanna do both. My titan is financed through my bank which is Bank of America. i plan to go with my credit union which is offering like 3% or so. Now i dont have bad credit at all, my score is at 725 right now and was alittle higher. i just assumed a little bit of credit card debt which i just been negligent to pay off. mostly from the holidays. just a few more weeks and its all gone(4k only) so its not all bad.

M3to335 · 02-07-2007, 05:56 PM

Yeah, I would like to see if the dealer can beat my rate as well. Typically they fight for your financing business. Unfortunately my dealer is in Illinois and I am in NC.

Id still think they could swing something from afar.

Couch · 02-07-2007, 09:34 PM

Just got approved for a $20K(although I plan on only borrowing 18K) loan from Texas One Credit Union today. 6.75% financing for 5 years. However, if I open a checking account I get 1/4 off, if I get a TOCU credit card I get a 1/4 off, and if the payments get drafted from my TOCU account or another bank I get another 1/4 off. So in total I can get a flat 6%.

m3power13 · 02-07-2007, 10:09 PM

Quote:

Originally Posted by M3to335

M3Power- Where did you get 5.95%

from my local Credit Union (Truliant), but my bmw dealership ended up matching the rate after initially offering 6.25%.

M3to335 · 02-07-2007, 10:17 PM

Thats funny because Truliant is part of Honda Federal Credit Union which is my credit union.

imolazhp_ci · 02-07-2007, 10:18 PM

BMW gave me 5.65%.... they said it was because i currently have a loan with them and am a previous customer.

HereAgain · 02-08-2007, 12:52 AM

Currently as low as 5.39% at my Credit Union.

M3to335 · 02-08-2007, 07:18 AM

Quote:

Originally Posted by HereAgain

Currently as low as 5.39% at my Credit Union.

Which would be

02-04-2007, 01:55 PM	#1
M3to335 Whats that smell? 153 Rep 1,790 Posts Drives: Bimmers, duh Join Date: Nov 2006 Location: NC iTrader: (6)	Who has the best vehicle loan rates right now? In a few weeks my coupe will be arriving and am currently searching for rates. Best I could find was 6.25% from eloan, bt I know there has to be better out there. Help me out guys
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02-04-2007, 02:06 PM	#2
808e46m3 Private First Class 6 Rep 127 Posts Drives: E92 335 Join Date: Nov 2006 Location: Honolulu, HI iTrader: (0) Garage List 2007 E92 335 [0.00] 2002 M3 [0.00]	Try your local credit union. Otherwise, costco (if you're a member) has pretty good rates too. __________________ 2007 E92 335 - Manual, TiAg, black leatherette, sport package, alum trim, CA, & Assist; Ordered 11/7/06, Born on 1/5/07, Delivered 2/23/07.
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02-04-2007, 07:13 PM	#3
rmorin49 Major 58 Rep 1,162 Posts Drives: 11 335d/10 Z4 s30i Join Date: Nov 2006 Location: Hagerstown, MD iTrader: (1)	USAA Federal Savings Bank 5.99 __________________ Colonel (Retired), US Army/Hagerstown, MD 2016 518ixdrive/MSport AW/Ivory White ED-01-10 2010 Z4s30i AW/Beige/Burl/ 6MT/SP/PP/CWP/NAV/ipod/USB/CA (retired) 2011 335d BS/Oyster/PP/CWP/NAV/ipod/USB(Daily Driver) 30+ mpg(retired)
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02-04-2007, 07:37 PM	#4
m3power13 Lieutenant 114 Rep 531 Posts Drives: E92 M3 Stripper Join Date: Nov 2006 Location: Raleigh, NC iTrader: (0)	5.95%
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02-04-2007, 08:26 PM	#5
SteveMD Colonel 202 Rep 2,485 Posts Drives: 2016 F10 535i MSport Join Date: Dec 2005 Location: Raventown! iTrader: (3)	Do you have a house? Do you have equity in your house? If so, get a home equity loan, set it for 3,4,5 years and deduct the interest. __________________ 2006 E90 330i (retired) 2009 E90 335i (retired) 2012 E70 X5 50i M Sport (retired) 2016 F10 535i M Sport
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02-04-2007, 09:08 PM	#6
John 070 Lieutenant General 1753 Rep 14,825 Posts Drives: 335i cpe Join Date: Oct 2006 Location: ZSP/ZPP/ZCW iTrader: (0)	I considered a home equity loan too, but my HELOC is at prime minus 0.75, or 7.5%. Even after taxes I don't feel that's attractive...and the danger to me is that the minimum payment is very small, interest only, so there's the tendency to let the payment amount slide imho....
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02-05-2007, 07:34 AM	#7
M3to335 Whats that smell? 153 Rep 1,790 Posts Drives: Bimmers, duh Join Date: Nov 2006 Location: NC iTrader: (6)	Yeah my home equity loans rate is no good. M3Power- Where did you get 5.95% Rmorin49 - I definately cant get USAA
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02-06-2007, 07:01 PM	#8
STE92VE STEVIL Empire 229 Rep 6,297 Posts Drives: Fast Join Date: May 2006 Location: Long Island, NY iTrader: (0)	MY CU has Home Equity Loan rate of 6.49%, with automatic withdrawals. __________________ 2007 E92 328i 6MT-Space Gray/Black Dakota/Gray Poplar w/heated seats-PCD 4/27/07 (SOLD) 2009 E90 328i xDrive 6AT-Space Gray/Oyster Dakota/Dark Burl Walnut w/ZPP,ZCW,Xenons-ED 4/17/09 - Redelivery 5/30/09 (SOLD) 2014 E84 xDrive28i 8AT-Alpine White/Black Nevada/Silver Matte w/ZMV,ZLP,494 - DD 3/14/14 (SOLD)
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02-06-2007, 08:57 PM	#9
M3to335 Whats that smell? 153 Rep 1,790 Posts Drives: Bimmers, duh Join Date: Nov 2006 Location: NC iTrader: (6)	Here is an interesting tidbit. My credit is impeccable. So I went through Capital one (who advertises 5.99) to get a loan. After they pulled my credit they said all i could get was 8%!!! WTF!?! I JUST checked with my credit union and bank of america a few days earlier and was approved for the lowest possible rate. Just to see what the hell was going on, I went ahead and filled out another application for Capital one under my wifes name (who has the highest possible credit score you can get). They came back with 6.5%. Eh? What? So basically what I found from this exercise is that Capital one has no rhym or reason as to what rate they give you. AND its physically impossible to get the rate they advertise. Lovely! I may just use E-loan at 6.25%
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02-07-2007, 05:40 PM	#11
M3to335 Whats that smell? 153 Rep 1,790 Posts Drives: Bimmers, duh Join Date: Nov 2006 Location: NC iTrader: (6)	hmm, Im going to run it through Eloan and see what they come up. My credit union is currently 6.39%
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02-07-2007, 05:50 PM	#12
John 070 Lieutenant General 1753 Rep 14,825 Posts Drives: 335i cpe Join Date: Oct 2006 Location: ZSP/ZPP/ZCW iTrader: (0)	I actually was looking for a payment around $450 and adjusted my downpayment accordingly. But since I'm getting 5.05% in my internet savings account, I didn't really save much by financing less as opposed to more. At one point I did come across the Navy FCU at 5% for I think up to 6 years, now that's a nice rate. I was approved at CapOne for 6.4% and my blank check came. Their customer service was ok, but when I called to go over it it was as if I were interrupting the phone rep's day. That happened twice. By contrast, my former employer's credit union was very friendly and helpful. But the dealer beat them by .25%....
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02-07-2007, 05:55 PM	#13
IndianPoweredE90 Loner in 909 11 Rep 154 Posts Drives: 335i Sedan 6MT Blk/Blk Join Date: Jan 2007 Location: REDLANDS, CA iTrader: (1)	i used Capital Ones Blank check loan and i already had a loan for my nissan titan which is still at around 13k and that was my first vehicle i ever financed on my own. that loan rate was 7.10% and the beamer i got at 6.85 from capital one. I plan to refinance both in 6 monthes because i wanna do both. My titan is financed through my bank which is Bank of America. i plan to go with my credit union which is offering like 3% or so. Now i dont have bad credit at all, my score is at 725 right now and was alittle higher. i just assumed a little bit of credit card debt which i just been negligent to pay off. mostly from the holidays. just a few more weeks and its all gone(4k only) so its not all bad. __________________ -=2007 335i Sedan=- -=6spd MT=- -=Jet Black=-
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02-07-2007, 05:56 PM	#14
M3to335 Whats that smell? 153 Rep 1,790 Posts Drives: Bimmers, duh Join Date: Nov 2006 Location: NC iTrader: (6)	Yeah, I would like to see if the dealer can beat my rate as well. Typically they fight for your financing business. Unfortunately my dealer is in Illinois and I am in NC. Id still think they could swing something from afar.
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02-07-2007, 09:34 PM	#15
Couch Colonel 149 Rep 2,900 Posts Drives: E92 335i Join Date: Jan 2007 Location: Houston iTrader: (0) Garage List 2007 E92 335i [0.00]	Just got approved for a $20K(although I plan on only borrowing 18K) loan from Texas One Credit Union today. 6.75% financing for 5 years. However, if I open a checking account I get 1/4 off, if I get a TOCU credit card I get a 1/4 off, and if the payments get drafted from my TOCU account or another bank I get another 1/4 off. So in total I can get a flat 6%.
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02-07-2007, 10:17 PM	#17
M3to335 Whats that smell? 153 Rep 1,790 Posts Drives: Bimmers, duh Join Date: Nov 2006 Location: NC iTrader: (6)	Thats funny because Truliant is part of Honda Federal Credit Union which is my credit union.
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02-07-2007, 10:18 PM	#18
imolazhp_ci Major 30 Rep 1,002 Posts Drives: Z4 M Coupe Join Date: Jan 2007 Location: orange county iTrader: (0)	BMW gave me 5.65%.... they said it was because i currently have a loan with them and am a previous customer.
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02-08-2007, 12:52 AM	#19
HereAgain Second Lieutenant 21 Rep 297 Posts Drives: E90 330i Join Date: Oct 2006 Location: Aztlan iTrader: (0) Garage List 2006 330i [0.00]	Currently as low as 5.39% at my Credit Union. __________________ "I'll tell you what war is all about, you've got to kill people, and when you've killed enough they stop fighting." - Gen. Curtis LeMay
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