Anyone know the current APR? Also, can I negotiate the rate?

[comebackid]

Hey guys,

I went on the BMW website, and I noticed 2.9% for 2010 M5 and M6 models. Since they're not listing the M3, I'm sure it's a killer rate. My guess is close to 5.9%.

After doing my financing, it will come down to the APR. I can handle 3.9% and even that is pushing it. 2.9% or less would be ideal. If I plan on putting down at least $20,000 on a 60 month BMW Select program, do you think I can negotiate a better rate (on a 2011)?

Any current incentives on 2010s? I think I read somewhere on the forum about $1,000 cash back from BMW. I have time on my side, but come mid May my lease is up. Do you think there will be an aggressive APR offer by then? At least for 2010s?

Anyone try a credit union or outside financing?

Thanks.

[outie]

I don't know about the 2010s, but my CA told me that it's very unlikely there will be any promotional rate on the 2011 in May. The current rate is 5.9% and will stay there for the 2011.

I know there are some credit unions offering much better rate, like penfed for 3.99%, and Navy federal is offering 2.99%. You can also re-finance with them after you finance thru BMWFS.

[niko]

The APR is 6.9 on the 2010 M3,but if you can wait until the of year, I'm pretty sure you can 2.9

[comebackid]

Originally Posted by niko

The APR is 6.9 on the 2010 M3,but if you can wait until the of year, I'm pretty sure you can 2.9

Niko,

Not sure what you meant by 'of year'. Did you mean end of the year? If so, unfortunately I can't. By June the latest.

[achenator]

Is "BMW Select" some sort of balloon note?

[comebackid]

Originally Posted by achenator

Is "BMW Select" some sort of balloon note?

Yes. I believe 36-38% of MSRP. I drive 6,000 - 7,000 miles per year, so I shouldn't be upside down when I purchase or sell when the time is up.