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      01-07-2013, 08:38 PM   #1
s2kroma
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New advice on the best financing interest rates

I am adding another M (M3 or M6) soon to my garage and looking for lowest interest rates going on now either for 60 month or 72 month financing. Can anyone recommend something? Thanx in advance.
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      01-07-2013, 08:42 PM   #2
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penfed
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      01-07-2013, 08:53 PM   #3
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Quote:
Originally Posted by s2kroma
I am adding another M (M3 or M6) soon to my garage and looking for lowest interest rates going on now either for 60 month or 72 month financing. Can anyone recommend something? Thanx in advance.
My personal favorite option is the BMW Select program. You get low rates and much lower payments like leasing, without the mileage and modification restrictions. There is also the option to pay more so that at the end there is no balloon at the end. Otherwise, there is a balloon payment due at the end of the term that can be refinanced. Another perk of the Select program is that you can still trade in your car early if you want.
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      01-07-2013, 09:38 PM   #4
s2kroma
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penfed
Whats their rate?
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      01-07-2013, 09:41 PM   #5
s2kroma
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Originally Posted by E92_SID View Post
My personal favorite option is the BMW Select program. You get low rates and much lower payments like leasing, without the mileage and modification restrictions. There is also the option to pay more so that at the end there is no balloon at the end. Otherwise, there is a balloon payment due at the end of the term that can be refinanced. Another perk of the Select program is that you can still trade in your car early if you want.
I read about BMW select program somewhere here on the website thats the program for people who can't afford an expensive car. Is this the best way to finance a vehicle?
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      01-07-2013, 10:28 PM   #6
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Whats their rate?
I just got a 60 month loan at Penfed for 1.49% and I have OK credit, far from perfect.
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      01-07-2013, 10:51 PM   #7
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Quote:
Originally Posted by Trip3's
Quote:
Originally Posted by s2kroma View Post
Whats their rate?
I just got a 60 month loan at Penfed for 1.49% and I have OK credit, far from perfect.
+2 on PenFed!
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      01-07-2013, 11:12 PM   #8
voidopolis
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Agreed - Penfed
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      01-07-2013, 11:23 PM   #9
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+4 pedfed
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      01-08-2013, 01:52 AM   #10
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+5 penfed. Applied online and was approved in less than two minutes.
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      01-08-2013, 03:22 AM   #11
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Quote:
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+5 penfed. Applied online and was approved in less than two minutes.
+6.

PenFed has the best rates, hands down. If you're not a member, you can join and donate to the American Red Cross and join PenFed. Another option is go to our local credit union and tell them what PenFed is offering. They might match it. I've heard this has been done in the past.
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      01-08-2013, 08:38 AM   #12
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Penfed, only way to go
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      01-08-2013, 10:58 AM   #13
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Penfed. Got refinanced for 1.49 on my GTR.
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      01-08-2013, 11:20 AM   #14
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Penfed is crazy low
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      01-08-2013, 01:26 PM   #15
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As others have stated, either Penfed or your local credit union. Mine is offering 1.25% up to 72 months. Add .25% if I don't accept auto debit.

Something to consider as well, some of the BMW incentives are tied to financing through them. However you can take a loan a refinance through the credit union.
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      01-08-2013, 05:41 PM   #16
s2kroma
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Might just go with penfed. I dont think you can find anything less what they got.
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      01-08-2013, 06:00 PM   #17
tbone28
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I got mine through penfed. 1.49%
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      01-08-2013, 07:47 PM   #18
s2kroma
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Quote:
Originally Posted by tbone28 View Post
I got mine through penfed. 1.49%
How do you join penfed? I looked on their website and it's all about Military, some sort of organization/association, government.. And I am NONE OF THE ABOVE.
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      01-08-2013, 08:47 PM   #19
tbone28
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You don't have to be. I'm not. You donate $15 or $20 to one of the organizations they offer. That's how you join
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      01-08-2013, 08:56 PM   #20
s2kroma
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Quote:
Originally Posted by tbone28 View Post
You don't have to be. I'm not. You donate $15 or $20 to one of the organizations they offer. That's how you join
nice, will do that. can i refinance any of my cars there too? thank you
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      01-08-2013, 09:06 PM   #21
tbone28
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I think you can.
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      01-09-2013, 12:04 AM   #22
slicer
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Quote:
Originally Posted by E92_SID View Post
My personal favorite option is the BMW Select program. You get low rates and much lower payments like leasing, without the mileage and modification restrictions. There is also the option to pay more so that at the end there is no balloon at the end. Otherwise, there is a balloon payment due at the end of the term that can be refinanced. Another perk of the Select program is that you can still trade in your car early if you want.
FYI - All of the positives you listed above are also available with a lease (except for the mileage restrictions).... You can modify a leased car all that you want (just need to return to stock at the end which you would do to any car that you traded in or sold), you can also trade-in (or sell) a leased car at any time. Leases have a buyout option available at any time during the term (no different than the outstanding loan balance on conventional financing); if the buyout is lower than the trade-in (or sale) amount you walk away with cash, if not you pay the difference.
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Last edited by slicer; 01-09-2013 at 01:55 PM.
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