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 2 Rep 20 Posts Drives: E93 328i (ret) Join Date: Jan 2012 Location: VA 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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04-21-2012, 09:49 AM	#2
SamS Banned 866 Rep 6,248 Posts Drives: Tesla M3 Perf + '18 X3 M40i Join Date: Jul 2010 Location: Dallas, TX iTrader: (0)	I used PenFed for ED. 60 month purchase, 2.49%.
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04-21-2012, 07:23 PM	#3
chuxdelux Captain 15 Rep 646 Posts Drives: 1988/1998/2005 M3 Join Date: Jul 2011 Location: Scottsdale, AZ 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.
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04-24-2012, 02:28 AM	#4
Bpark1977 First Lieutenant 183 Rep 305 Posts Drives: E93 M3 Join Date: Mar 2012 Location: Orange county, ca 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?
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04-24-2012, 03:15 AM	#5
dadealus Second Lieutenant 21 Rep 228 Posts Drives: 13'E92 M3 Join Date: Jan 2012 Location: Atlanta Ga iTrader: (0)	looks like the most they will finance is 70k bummer guess this means no M5 financing from them.
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04-24-2012, 05:38 AM	#6
wyndnmyfac New Member 2 Rep 20 Posts Drives: E93 328i (ret) Join Date: Jan 2012 Location: VA iTrader: (0)	Just by using the calculator, there seems to be an advantage getting a current year car used with low miles.
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04-24-2012, 10:59 AM	#8
italyix Captain 141 Rep 979 Posts Drives: '08 E90 M3 Join Date: Dec 2011 Location: Bay Area iTrader: (5)	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. __________________ Mods: too many the list wont fit in the sig page. PM me Tesla Referral code: http://ts.la/juliana77782
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04-24-2012, 11:21 AM	#10
Z K Major General 1887 Rep 5,506 Posts Drives: E90 M3, G20 M340i Join Date: Jul 2011 Location: San Francisco iTrader: (3)	Pen Fed is now doing 1.9% for up to 60 months on new and used cars.
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04-24-2012, 03:36 PM	#11
Optherion Lieutenant 46 Rep 516 Posts Drives: Prancing Horse Join Date: Jun 2009 Location: SoCal & Vegas 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: 6 Drivers + 5 Projects
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04-25-2012, 08:27 PM	#12
jc05e46m3 Brigadier General 846 Rep 3,249 Posts Drives: '21 F90 M5 Comp Join Date: Mar 2011 Location: Everywhere. iTrader: (3)	I take delivery of my new E92 soon. USAA and Navy federal both offering 1.79% for up to 60 months on new cars. __________________ '21 /// M5 Comp - Frozen Brilliant White/Black '18 Porsche GT3 Carrara White/Black/Red - Sold '18 /// M3 - Individual Imola/Black - Sold '15 /// M4 - YMB/SO - Sold '12 E92 ///M3 ZCP - AW/FR - Sold
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