when i bought my e46 ...my loan was 20k @ 5.50% for a 4 year old m3...and my payments were around $430/mo...which was a great rate at the time...now they are as low as 2.00 for cars up to 6 years old... and for up to 6 years in duration which should be able to keep you payments around 300/mo for a 20-22k e46m3, which seems to be market for a good example these days (mine is for sale as well
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i too am surprised...i have had 3 people finance via PENFED at 1.50% in the past few months and they are raving about it...i too plan to finance my e92 via pen-fed or my local APL Fed Credit Union...
Good luck