BMW M3 Forum (E90 E92)

BMW Garage BMW Meets Register Search Today's Posts Mark Forums Read


Go Back   M3Post - BMW M3 Forum > M3 (E90 / E92 / E93) > New and Preowned M3 Pricing, Ordering, Tracking / European Delivery / Dealer Reviews
 
Mporium BMW
Post Reply
 
Thread Tools Search this Thread
      12-20-2012, 11:22 PM   #23
munchkins
New Member
0
Rep
6
Posts

Drives: 2002 BMW 745i
Join Date: Sep 2012
Location: here and there

iTrader: (0)

Quote:
Originally Posted by tbone28 View Post
Yes, but if you're not, you can pay a $15 application fee, which is what I did.
Great! Will try to contact them one of these days. This is such a great deal for anyone looking for car loan.
___________________________________
http://www.loans-portal.com/high-risk-mortgage-lenders/

Last edited by munchkins; 10-07-2013 at 06:07 AM..
Appreciate 0
      12-21-2012, 02:53 PM   #24
Thebigbus
Private
Thebigbus's Avatar
6
Rep
87
Posts

Drives: 2009 e90 M3 DCT
Join Date: Nov 2012
Location: Central Texas

iTrader: (0)

Just joined and am hoping to get a good rate on a used e90 m3 I've found . (New here to the forum...longtime lurker). PenFed seems difficult to beat
Appreciate 0
      01-07-2013, 11:58 AM   #25
TheStig
Captain
TheStig's Avatar
United_States
52
Rep
794
Posts

Drives: Alot of everything.
Join Date: Jan 2011
Location: Potomac MD

iTrader: (4)

Curious What Type of credit this requires
__________________
Gone But Not forgotten:
-07 Shelby GT500 W/ Full Bolt on E85
-08 335i 6MT W/ Full Bolt On E85/Meth
-08 M3 DCT W/ Full Exhaust / Tune
-13 B8 Audi S4 APR Stage 2+
Appreciate 0
      01-27-2013, 12:26 AM   #26
///WeissBisBlau
Captain
///WeissBisBlau's Avatar
United_States
265
Rep
720
Posts

Drives: ‘21 M5C
Join Date: Feb 2011
Location: AL

iTrader: (0)

Hey guys, I have ordered my M3, and am set to take delivery on 4/5. I took advantage of the BMW finance deal for $1500 in holiday cash, but the rate is obviously at least a couple points higher than with penfed. At what point could I refi that loan with penfed? My car is in production right now. It doesn't have a VIN yet (that I know of), only a production number.
Appreciate 0
      01-27-2013, 12:57 AM   #27
manari06
Major
manari06's Avatar
United_States
133
Rep
1,128
Posts

Drives: 2013 E92 M3, 2016 X5 50i
Join Date: Jan 2010
Location: Pueblo West, CO

iTrader: (6)

Garage List
2013 BMW M3 E92  [9.50]
2007 335I Coupe  [10.00]
That's a great rate. I'm getting 1.64% with Service Credit Union out here in Germany!!!
__________________
I Am The Strength Behind The Fight!
Appreciate 0
      01-27-2013, 02:58 AM   #28
rjd598
Banned
United_States
1770
Rep
6,696
Posts

Drives: F30 340i
Join Date: Jan 2009
Location: San Diego,CA

iTrader: (2)

Garage List
2016 BMW 340i  [0.00]
How old of a car can be bought with penfed? I'm curious to see if anyone knows because I was always curious how people finance older cars
Appreciate 0
      01-27-2013, 05:41 AM   #29
NHman
Captain
132
Rep
727
Posts

Drives: 2018 Audi S4 Prestige
Join Date: Apr 2012
Location: NorthEast

iTrader: (0)

Quote:
Originally Posted by blitzboy76 View Post
Hey guys, I have ordered my M3, and am set to take delivery on 4/5. I took advantage of the BMW finance deal for $1500 in holiday cash, but the rate is obviously at least a couple points higher than with penfed. At what point could I refi that loan with penfed? My car is in production right now. It doesn't have a VIN yet (that I know of), only a production number.
I have heard from CA's on other websites that BMW FS requires the owner to have the loan for 6 months prior to early payoff including refinancing in order to take advantage of the credit. Now with this stated, I have not seen a BMW FS contract with this wording. If paid-off in less than 6 months would they change the buyout value to factor for the credit, I don't know but it is an interesting question.

I would plan for worst case and calculate the amount of interest over for the 6 months using the BMW FS rate. How does this compare against the available credit. Decide on financing accordingly.

The BMW credits are often linked to financing through them including the current $1500 and former BMW apps.
Appreciate 0
      01-31-2013, 05:23 PM   #30
kitw
Colonel
kitw's Avatar
471
Rep
2,991
Posts

Drives: F91 M8, 991.2 GT3
Join Date: Jun 2007
Location: Bay Area, CA

iTrader: (20)

Quote:
Originally Posted by rjd598 View Post
How old of a car can be bought with penfed? I'm curious to see if anyone knows because I was always curious how people finance older cars

Penfed will finance pretty much anything with a Kelly Blue Book value. Pretty flexible but not very good values for older cars.
Appreciate 0
      01-31-2013, 05:25 PM   #31
kitw
Colonel
kitw's Avatar
471
Rep
2,991
Posts

Drives: F91 M8, 991.2 GT3
Join Date: Jun 2007
Location: Bay Area, CA

iTrader: (20)

Quote:
Originally Posted by NHman View Post
I have heard from CA's on other websites that BMW FS requires the owner to have the loan for 6 months prior to early payoff including refinancing in order to take advantage of the credit. Now with this stated, I have not seen a BMW FS contract with this wording. If paid-off in less than 6 months would they change the buyout value to factor for the credit, I don't know but it is an interesting question.

I would plan for worst case and calculate the amount of interest over for the 6 months using the BMW FS rate. How does this compare against the available credit. Decide on financing accordingly.

The BMW credits are often linked to financing through them including the current $1500 and former BMW apps.
BMWFS does not require this.

However, the dealership can lose financing incentives.

Depends if you want to buy from them again. You are under no responsibility to help them reach their incentives... but they may be upset with you and not want to sell you another car if you do this. Depends on if they got an incentive/etc. Won't matter for customer incentives.
Appreciate 0
      01-31-2013, 05:35 PM   #32
rjd598
Banned
United_States
1770
Rep
6,696
Posts

Drives: F30 340i
Join Date: Jan 2009
Location: San Diego,CA

iTrader: (2)

Garage List
2016 BMW 340i  [0.00]
Quote:
Originally Posted by kitw View Post
Penfed will finance pretty much anything with a Kelly Blue Book value. Pretty flexible but not very good values for older cars.
you mean for example if an older car has higher market value vs. book value?
Appreciate 0
      01-31-2013, 05:52 PM   #33
kitw
Colonel
kitw's Avatar
471
Rep
2,991
Posts

Drives: F91 M8, 991.2 GT3
Join Date: Jun 2007
Location: Bay Area, CA

iTrader: (20)

Quote:
Originally Posted by rjd598 View Post
you mean for example if an older car has higher market value vs. book value?
Yup. Like an E34 M5 or an E30 M3 Penfed would finance them, but they weren't worth much to them.
Appreciate 0
      01-31-2013, 06:27 PM   #34
rjd598
Banned
United_States
1770
Rep
6,696
Posts

Drives: F30 340i
Join Date: Jan 2009
Location: San Diego,CA

iTrader: (2)

Garage List
2016 BMW 340i  [0.00]
Quote:
Originally Posted by kitw View Post
Yup. Like an E34 M5 or an E30 M3 Penfed would finance them, but they weren't worth much to them.
hahah yea i figured as much. i was specifically looking into an e36 m3 where it isn't that big of an issue
Appreciate 0
      02-08-2013, 04:45 PM   #35
checkmate
Major
checkmate's Avatar
United_States
119
Rep
1,497
Posts

Drives: AW M3 E90
Join Date: Apr 2010
Location: Bel Air, MD

iTrader: (2)

My rate is 1.79% through PenFed. I had mine refinanced from BMWFS.
Appreciate 0
      02-09-2013, 12:17 PM   #36
shivaswrath
Brigadier General
shivaswrath's Avatar
United_States
649
Rep
4,323
Posts

Drives: 2012 335i
Join Date: Apr 2008
Location: Lost in NJ

iTrader: (3)

Quote:
Originally Posted by tbone28 View Post
Rates dropped from 1.99 to 1.49 today for anyone interested.
thanks for this, I just applied for a refinance, let's hope it gets all approved and sorted out...big difference between 3.29% from BMWNA and 1.49%!!

$20 was worth the application if I can save that much...
__________________
CURRENT: 2017 RS3 (miss you guys)
SOLD: 2012 335i Mineral Gray

M Performance Exhaust/Brakes/Suspension/LSD|Bav Stage 1/AMP||ER CP/IC/DP/OC | Dinan CAI/N55 PWG BIG TURBO|BMWF30.com
Appreciate 0
      02-09-2013, 12:32 PM   #37
tbone28
vvvvvvvvvvvvvv
tbone28's Avatar
United_States
332
Rep
2,304
Posts

Drives: ^^^^^
Join Date: May 2012
Location: Bay Area, CA

iTrader: (18)

You're welcome. Update on my end: Everything went smoothly, from the application, to cutting the check, to closing, to auto-draft payments. Still happy with PenFed.
Appreciate 0
      02-09-2013, 12:53 PM   #38
kokopuffs405
Yup
kokopuffs405's Avatar
104
Rep
699
Posts

Drives: BMW?
Join Date: Apr 2010
Location: Maryland

iTrader: (10)

Garage List
2014 BMW M5  [0.00]
Just created an account , THANKS!
__________________
Oh hello
Appreciate 0
      12-31-2014, 07:55 PM   #39
Ghetto2315
Colonel
United_States
830
Rep
2,352
Posts

Drives: 16' BMW i8
Join Date: Feb 2012
Location: The REAL Jersey Shore

iTrader: (1)

Garage List
Anybody get a loan recently with PenFed? Looking to do a 60-Month term. Was hoping I could get 1.5-2% with them. Anyone chime in?
Appreciate 0
      01-29-2015, 01:32 PM   #40
AI32
Enlisted Member
4
Rep
33
Posts

Drives: 2011 E92 M3 Base
Join Date: Jan 2015
Location: Queens, NY

iTrader: (1)

Quote:
Originally Posted by Ghetto2315 View Post
Anybody get a loan recently with PenFed? Looking to do a 60-Month term. Was hoping I could get 1.5-2% with them. Anyone chime in?
DCU seems to have a bit better rate than PennFed right now...1.5 to 2% on refinancing...
Appreciate 0
      01-29-2015, 02:09 PM   #41
ArthurL
Captain
ArthurL's Avatar
United_States
200
Rep
956
Posts

Drives: 2008 M3 6MT (E93)
Join Date: Dec 2012
Location: Manhattan, NY

iTrader: (2)

Go with DCU, they'll have the rates you're looking for.
__________________
2008 E93 M3 (Jet Black/Black) - SOLD - Progress Thread
2007 E90 335i (Jet Black/Terra) - SOLD
Instagram: @aluooo
Appreciate 0
Post Reply

Bookmarks

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off



All times are GMT -5. The time now is 01:36 AM.




m3post
Powered by vBulletin® Version 3.8.11
Copyright ©2000 - 2024, vBulletin Solutions Inc.
1Addicts.com, BIMMERPOST.com, E90Post.com, F30Post.com, M3Post.com, ZPost.com, 5Post.com, 6Post.com, 7Post.com, XBimmers.com logo and trademark are properties of BIMMERPOST