PENFED balloon vs. BMWFS lease

wyndnmyfac · 04-21-2012, 08:35 AM

I am determined to figure out the cheapest way to pick up a new M3. I used the BMW select plan on my 09 E93 328 and the financing was based off of 1.9% for 60 months. Wished I had got an M3 instead. Now that advantage is gone I was thinking of a lease. While I was crunching the lease #'s I noticed several forum members reference PENFED credit union's balloon option and I was curious to see if anyone on here has used them recently for ED or just simple dealer delivery?

SamS · 04-21-2012, 09:49 AM

I used PenFed for ED. 60 month purchase, 2.49%.

chuxdelux · 04-21-2012, 07:23 PM

I have my loan for my BOSS 302 through Pen Fed @ 2.49% as well. When I purchase a m3 I will use them as well. They are a great credit union to purchase through.

Bpark1977 · 04-24-2012, 02:28 AM

I work in finance and I know the prime lenders are giving out as low as 1.49% to people with strong credit. Is BMW not offering 1.9% on M3's?

dadealus · 04-24-2012, 03:15 AM

looks like the most they will finance is 70k

bummer guess this means no M5 financing from them.

wyndnmyfac · 04-24-2012, 05:38 AM

Just by using the calculator, there seems to be an advantage getting a current year car used with low miles.

Rshane · 04-24-2012, 06:03 AM

Quote:

Originally Posted by dadealus

looks like the most they will finance is 70k

bummer guess this means no M5 financing from them.

Just put down the difference in cash. IMO it really isn't a good idea to finance the entire purchase price of the car.

italyix · 04-24-2012, 10:59 AM

I use Star One Credit Union and have 2.5% for 60 months. Seems to be the lowest rate so far, from what I am seeing in the above posts.

italyix · 04-24-2012, 11:00 AM

Quote:

Originally Posted by Bpark1977

I work in finance and I know the prime lenders are giving out as low as 1.49% to people with strong credit. Is BMW not offering 1.9% on M3's?

They are not from what I was told. the lowest I was able to get from BMW was 4.9 and my credit score is 833.

Z K · 04-24-2012, 11:21 AM

Pen Fed is now doing 1.9% for up to 60 months on new and used cars.

Optherion · 04-24-2012, 03:36 PM

about 2 years back I got my financing with BMW 0.9% on all M vehicles. Of course they dont have it anymore.

jc05e46m3 · 04-25-2012, 08:27 PM

I take delivery of my new E92 soon. USAA and Navy federal both offering 1.79% for up to 60 months on new cars.

04-21-2012, 08:35 AM	#1
wyndnmyfac New Member Drives: E93 328i (ret) Join Date: Jan 2012 Location: VA Posts: 19 iTrader: (0)	PENFED balloon vs. BMWFS lease I am determined to figure out the cheapest way to pick up a new M3. I used the BMW select plan on my 09 E93 328 and the financing was based off of 1.9% for 60 months. Wished I had got an M3 instead. Now that advantage is gone I was thinking of a lease. While I was crunching the lease #'s I noticed several forum members reference PENFED credit union's balloon option and I was curious to see if anyone on here has used them recently for ED or just simple dealer delivery?
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04-24-2012, 10:59 AM	#8
italyix First Lieutenant Drives: '08 E90 M3 Join Date: Dec 2011 Location: Bay Area Posts: 328 iTrader: (0)	I use Star One Credit Union and have 2.5% for 60 months. Seems to be the lowest rate so far, from what I am seeing in the above posts. __________________ AA Filter : BFGoodridge SS Lines : Challenge Sport X-Pipe : Vorschlag Poly Engine Mounts : TMS Subframe & Diff Bushings : KW S/O Kit : RDSport Sway Bars : MRF Eng Shaved Guide Supports : E36 Bumpstops : Mach Schnell UP : UUC SSK w/DSSR : ZHP Shift Knob : Evolve Tune Stg 2 To buy: Nitron R3, Brembo or Alcom BBK, 19" RAC Monolites COD Tag: RomanGuy9

04-24-2012, 03:36 PM	#11
Optherion Lieutenant Drives: Prancing Horse Join Date: Jun 2009 Location: SoCal & Vegas Posts: 465 iTrader: (0)	about 2 years back I got my financing with BMW 0.9% on all M vehicles. Of course they dont have it anymore. __________________ Current Stable: Some Audi with a V10, Couple of BMW's, one F Car, and one P car. One lonely GT-R with all the Euros.

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04-21-2012, 09:49 AM	#2
SamS Brigadier General Drives: 2013 ActiveHybrid 3 Join Date: Jul 2010 Location: Dallas, TX Posts: 4,106 iTrader: (0)	I used PenFed for ED. 60 month purchase, 2.49%.

04-21-2012, 07:23 PM	#3
chuxdelux Lieutenant Drives: 09 E90 M3, 2013 Jetta TDI Join Date: Jul 2011 Location: Honolulu,HI Posts: 515 iTrader: (1)	I have my loan for my BOSS 302 through Pen Fed @ 2.49% as well. When I purchase a m3 I will use them as well. They are a great credit union to purchase through.

04-24-2012, 02:28 AM	#4
Bpark1977 Enlisted Member Drives: E92 M3 Join Date: Mar 2012 Location: Orange county, ca Posts: 37 iTrader: (0)	I work in finance and I know the prime lenders are giving out as low as 1.49% to people with strong credit. Is BMW not offering 1.9% on M3's?

04-24-2012, 03:15 AM	#5
dadealus Private First Class Drives: 2010 328i, 13'E92 M3 Ordered Join Date: Jan 2012 Location: Richmond Va Posts: 193 iTrader: (0)	looks like the most they will finance is 70k bummer guess this means no M5 financing from them.

04-24-2012, 05:38 AM	#6
wyndnmyfac New Member Drives: E93 328i (ret) Join Date: Jan 2012 Location: VA Posts: 19 iTrader: (0)	Just by using the calculator, there seems to be an advantage getting a current year car used with low miles.

04-24-2012, 11:21 AM	#10
Z K Major Drives: E90 M3 Join Date: Jul 2011 Location: San Francisco Posts: 1,292 iTrader: (2) Garage List 2008 BMW E90 M3 [0.00]	Pen Fed is now doing 1.9% for up to 60 months on new and used cars.

04-25-2012, 08:27 PM	#12
jc05e46m3 Private Drives: 2012 M3 AW/FR ZCP Join Date: Mar 2011 Location: VA Beach Posts: 96 iTrader: (0)	I take delivery of my new E92 soon. USAA and Navy federal both offering 1.79% for up to 60 months on new cars.