financing apr

batchelorc · 04-03-2008, 01:23 PM

Just got an email from Pentagon Federal Credit Union. Says they lowered rates to 4.25%

DJ9 · 04-03-2008, 01:50 PM

Quote:

Originally Posted by RickyM3

4.34% from Bank of America

Depends on term. 4.9 for up 60 months. 5.2% for 72 months

M3forJP · 04-03-2008, 07:02 PM

My car is coming in on the Independence II and is set to arrive at port this Sunday. I'm going to finance a total of $62,692.00 and have been shopping around the rates. After some back and forth, BMW Finance has offered me 5.49% over 60 months. The monthly payment in VA is $1,155.29. After seeing the PFCU rate of 4.25%, I plugged the same figures into their online calculator and it spits out a higher monthly payment of $1161.65! Wondering how in the world this substantially lower interest rate could result in a higher monthly payment, I called a PFCU rep who had no explanation. It doesn't appear that there are any origination or other hidden fees with PFCU, so what gives? Hoping someone can shed some light on this for the mathematically impaired.

M3forJP · 04-03-2008, 07:05 PM

btw - the BMW and the PFCU are both fixed rates, no wacky variable and there's no issue of credit score (770+ on all of the big three reporting agencies)

batchelorc · 04-03-2008, 08:42 PM

Quote:

Originally Posted by M3forJP

My car is coming in on the Independence II and is set to arrive at port this Sunday. I'm going to finance a total of $62,692.00 and have been shopping around the rates. After some back and forth, BMW Finance has offered me 5.49% over 60 months. The monthly payment in VA is $1,155.29. After seeing the PFCU rate of 4.25%, I plugged the same figures into their online calculator and it spits out a higher monthly payment of $1161.65! Wondering how in the world this substantially lower interest rate could result in a higher monthly payment, I called a PFCU rep who had no explanation. It doesn't appear that there are any origination or other hidden fees with PFCU, so what gives? Hoping someone can shed some light on this for the mathematically impaired.

It's possible their calculator is broke. Paying more for a lower rate does not compute! I'm sure it would be worked out before you actually sign the paperwork

Jdebitjr · 04-03-2008, 09:11 PM

Quote:

Originally Posted by batchelorc

It's possible their calculator is broke. Paying more for a lower rate does not compute! I'm sure it would be worked out before you actually sign the paperwork

At the 5.49% rate for 60 months, I calculate $1,197.20 per month.

At the 4.25% rate for 60 months, I calculate $1,161.65 per month.

Looks like the BMW FS calculator is broke.

nusevad · 04-03-2008, 09:36 PM

woohoo, my dealer said they are willing to match a competitive rate~

M3forJP · 04-03-2008, 10:55 PM

Yeah - it's weird. I'm going to confirm tomorrow that those are the numbers they will honor and will let you know what I hear.

pharenx · 04-04-2008, 01:17 AM

BMW financial matched a 5.44% rate from Bank of America that was quoted from a red book that the dealer pulled out. It was lower than the 6.5% they originally quoted so I took it, but now after reading about these 4.xx% rates, I'm not so sure I did the right thing. This was 2 weeks ago and it was for a term of 60 months.

jtown · 04-04-2008, 01:23 AM

Quote:

Originally Posted by pharenx

BMW financial matched a 5.44% rate from Bank of America that was quoted from a red book that the dealer pulled out. It was lower than the 6.5% they originally quoted so I took it, but now after reading about these 4.xx% rates, I'm not so sure I did the right thing. This was 2 weeks ago and it was for a term of 60 months.

Just check on www.bankofamerica.com and go to auto loans.

Keto · 04-04-2008, 01:23 AM

Thank God for PenFed. I have my current loan with them at 3.99. 4.25 ain't too shabby. Now I just need the f***ing car.

batchelorc · 04-04-2008, 08:36 AM

Quote:

Originally Posted by Keto

Thank God for PenFed. I have my current loan with them at 3.99. 4.25 ain't too shabby. Now I just need the f***ing car.

My last one with them was 3.9 as well

grkmec · 04-04-2008, 08:45 AM

So can anyone get a loan from Pen Fed?

Keto · 04-04-2008, 09:29 AM

There's a backdoor into Pen Fed -- you have to join the Military Familes association or something.

grkmec · 04-04-2008, 12:16 PM

Quote:

Originally Posted by Keto

There's a backdoor into Pen Fed -- you have to join the Military Familes association or something.

Do you have specifics on how I can go about it?

Zed · 04-04-2008, 07:26 PM

Quote:

Originally Posted by FifthStreetz

Ok, know any good sites for free credit report?

Your entitled to one free report from each agency a year. I tend to spread them out, but you can get all 3 at once too. Note that from the following link, this is just a credit report, it does not include your credit score. Each credit agency does the scores a bit different, so you have to go to the credit agency to get the score (which they will charge you for, and try and sign you up for a nearly worthless credit monitoring subscription).

For the really free credit report with no strings:
https://www.annualcreditreport.com/

The FAQ on the above site is pretty good, and includes links for the reporting agencies if you want your score.

Additional, for a good site that compares loan rates for a bunch of places this site is a great resource: http://www.bankrate.com/

skierman64 · 04-04-2008, 07:51 PM

I just checked with Andrews FCU. They're offering 66 months at 4.99% fixed.

ky_soldier · 04-07-2008, 08:57 PM

pentagon federal is down to 4.25%

d_dot · 06-18-2008, 03:48 PM

any updates to rates for june?

man02195 · 06-18-2008, 08:50 PM

Quote:

Originally Posted by d_dot

any updates to rates for june?

PenFed still at 4.25%, there's another thread somewhere. Financing up to 110% of value, fixed rate, they send you a draft check after you get approved. You choose option 6 on the selection and join as a non military person. It costs $20 to join, and you have to put $5 into your account.

Here's the thread, zoom thru the responses
http://www.m3post.com/forums/showthread.php?t=146816

SHADY1 · 06-18-2008, 10:20 PM

Pentagon Federal is off the hook

miamie92m3 · 06-18-2008, 11:00 PM

4.9% BMW Financial Services.

04-03-2008, 01:23 PM	#23
batchelorc Captain 52 Rep 607 Posts Drives: Deez nuts Join Date: Feb 2008 Location: Kansas City iTrader: (0)	Just got an email from Pentagon Federal Credit Union. Says they lowered rates to 4.25%
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04-03-2008, 07:02 PM	#25
M3forJP IR Lion 0 Rep 24 Posts Drives: E46 M3 (2005): Imola Red Join Date: Feb 2008 Location: Arlington, Virginia iTrader: (0)	My car is coming in on the Independence II and is set to arrive at port this Sunday. I'm going to finance a total of $62,692.00 and have been shopping around the rates. After some back and forth, BMW Finance has offered me 5.49% over 60 months. The monthly payment in VA is $1,155.29. After seeing the PFCU rate of 4.25%, I plugged the same figures into their online calculator and it spits out a higher monthly payment of $1161.65! Wondering how in the world this substantially lower interest rate could result in a higher monthly payment, I called a PFCU rep who had no explanation. It doesn't appear that there are any origination or other hidden fees with PFCU, so what gives? Hoping someone can shed some light on this for the mathematically impaired.
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04-03-2008, 07:05 PM	#26
M3forJP IR Lion 0 Rep 24 Posts Drives: E46 M3 (2005): Imola Red Join Date: Feb 2008 Location: Arlington, Virginia iTrader: (0)	btw - the BMW and the PFCU are both fixed rates, no wacky variable and there's no issue of credit score (770+ on all of the big three reporting agencies)
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04-03-2008, 09:36 PM	#29
nusevad O! So Sour!! 552 Rep 15,615 Posts Drives: Fast 240z / Slow M3 Join Date: Apr 2007 Location: 'Merica! iTrader: (24) Garage List 1971 Datsun 240z [0.00] 2008 M3 [9.60]	woohoo, my dealer said they are willing to match a competitive rate~ __________________
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04-03-2008, 10:55 PM	#30
M3forJP IR Lion 0 Rep 24 Posts Drives: E46 M3 (2005): Imola Red Join Date: Feb 2008 Location: Arlington, Virginia iTrader: (0)	Yeah - it's weird. I'm going to confirm tomorrow that those are the numbers they will honor and will let you know what I hear.
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04-04-2008, 01:17 AM	#31
pharenx Enlisted Member 3 Rep 30 Posts Drives: E92 M3 Join Date: Feb 2008 Location: Los Angeles, CA iTrader: (0) Garage List 2008 M3 [0.00]	BMW financial matched a 5.44% rate from Bank of America that was quoted from a red book that the dealer pulled out. It was lower than the 6.5% they originally quoted so I took it, but now after reading about these 4.xx% rates, I'm not so sure I did the right thing. This was 2 weeks ago and it was for a term of 60 months. __________________ 2008 M3 Alpine White/Black. 6MT/Premium/Tech/Premium Sound/iPod 2002 325ci Steel Blue/Gray. Premium/Sport/Auto/Leather - Sold
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04-04-2008, 01:23 AM	#33
Keto Lieutenant Colonel 73 Rep 1,603 Posts Drives: F80 M3 Join Date: Jul 2007 Location: WHO DAT NATION iTrader: (1) Garage List 2015 BMW M3 [10.00]	Thank God for PenFed. I have my current loan with them at 3.99. 4.25 ain't too shabby. Now I just need the f***ing car. __________________ 2015 SO/SO MT M3 :: Exec : Lighting : Adaptive : HK : CF trim : Full leather : DAP : Black 19's : sunshade Crystalline tint 40%/70% on windshield : M performance mirrors, spoiler, splitters : Status Gruppe CF lip : RKP diffuser : Fully dechromed Bavsound Stage 1 : V1 Savvy hardwired : Self-coded
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04-04-2008, 08:45 AM	#35
grkmec Private First Class 16 Rep 170 Posts Drives: 335xi Join Date: Nov 2005 Location: stamford, ct iTrader: (0)	So can anyone get a loan from Pen Fed?
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04-04-2008, 09:29 AM	#36
Keto Lieutenant Colonel 73 Rep 1,603 Posts Drives: F80 M3 Join Date: Jul 2007 Location: WHO DAT NATION iTrader: (1) Garage List 2015 BMW M3 [10.00]	There's a backdoor into Pen Fed -- you have to join the Military Familes association or something. __________________ 2015 SO/SO MT M3 :: Exec : Lighting : Adaptive : HK : CF trim : Full leather : DAP : Black 19's : sunshade Crystalline tint 40%/70% on windshield : M performance mirrors, spoiler, splitters : Status Gruppe CF lip : RKP diffuser : Fully dechromed Bavsound Stage 1 : V1 Savvy hardwired : Self-coded
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04-04-2008, 07:51 PM	#39
skierman64 Brigadier General 125 Rep 3,071 Posts Drives: E92M3-E46M3-E46Wagon-E89Z4-E36 Join Date: Dec 2006 Location: Greater St Louis Metro area iTrader: (1) Garage List 1994 325is Race Car [0.00] 2011 BMW Z4 [0.00] 1998 M3 Coupe [0.00] 2008 M3 Coupe [0.00]	I just checked with Andrews FCU. They're offering 66 months at 4.99% fixed. __________________ Invest Wisely...The best mod for your money?? BMWCCA high performance driver's school. The mod that lasts a lifetime and improves the performance of any car you drive[/LEFT]
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04-07-2008, 08:57 PM	#40
ky_soldier General of The Universe 50 Rep 418 Posts Drives: 2015 BMW i8 Join Date: Oct 2006 Location: Prospect, KY iTrader: (0) Garage List 2015 BMW i8 [9.00]	pentagon federal is down to 4.25% __________________ 2017 Tesla Model X P100D 2017 BMW M2 2015 BMW i8 & i3 1946 Willys CJ-2A 2009 Ferrari 612 Scaglietti OTO
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06-18-2008, 03:48 PM	#41
d_dot 4 * General 56 Rep 644 Posts Drives: F12 M6,Audi R8 Lambo Gallardo Join Date: Dec 2007 Location: Tri-State iTrader: (0)	any updates to rates for june?
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06-18-2008, 10:20 PM	#43
SHADY1 Hamann M3 Fan 298 Rep 2,885 Posts Drives: E92 M3 & F10 M5 Join Date: Feb 2008 Location: Killeen, Texas iTrader: (6) Garage List 2013 BMW M5 [0.00] 2008 E92 M3 Coupe [8.14]	Pentagon Federal 4.25% up to 72 months Pentagon Federal is off the hook __________________ JZB,6MT, My mods 360 Forged 20inch wheels,VF650 Supercharger custom tuned,ARH Long Tube Headers,Hamann CF roof spoiler,H&R springs,CF grills,Hamann rear trunk spoiler,Hamann Side Skirts, ARKYM full CF bumper, Gintani Race exhaust, ARH X-pipe catless,RPI scoops,AA SSK, Arkym CF Double Sided Vented Hood,
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06-18-2008, 11:00 PM	#44
miamie92m3 Private First Class 28 Rep 176 Posts Drives: M3 Join Date: Mar 2008 Location: Miami iTrader: (0)	4.9% BMW Financial Services.
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