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
 
Evolve Automotive
Post Reply
 
Thread Tools Search this Thread
      04-02-2008, 11:25 AM   #1
JS11
Private First Class
4
Rep
192
Posts

 
Drives: '08 E92 M3
Join Date: Apr 2007
Location: Cambridge, MA

iTrader: (3)

financing apr

Im in my early twenties and the e92 m3 that i will be picking up tomorrow is the first new car that im buying under my own name. The finance person at the dealership told me that my credit score is 785 and quoted me an apr of 5.2% on $34k that i will be financing. Is that a fair enough deal or is it possible for me to get a lower apr elsewhere??
Appreciate 0
      04-02-2008, 11:27 AM   #2
FifthStreetz
O! So Sour!!
FifthStreetz's Avatar
United_States
193
Rep
15,558
Posts

 
Drives: Fast 240z / Slow M3
Join Date: Apr 2007
Location: Fort Lee, NJ

iTrader: (24)

Garage List
2008 M3  [4.75]
5.2% is pretty good, how much are you dropping down? Do you have a co-signer?

I went to the bank yesterday to see the interest rates they offered, when i told them i could get 6.5-6.9% from the dealer they all said to just take that.
__________________
Appreciate 0
      04-02-2008, 11:44 AM   #3
JS11
Private First Class
4
Rep
192
Posts

 
Drives: '08 E92 M3
Join Date: Apr 2007
Location: Cambridge, MA

iTrader: (3)

im dropping 35k and have no cosigner
thanks for the reply
Appreciate 0
      04-02-2008, 11:46 AM   #4
Keto
Lieutenant Colonel
Keto's Avatar
United_States
21
Rep
1,582
Posts

 
Drives: F80 M3
Join Date: Jul 2007
Location: WHO DAT NATION

iTrader: (1)

Garage List
2015 BMW M3  [5.00]
4.99 from Pentagon Federal Credit Union is the best I've seen.
__________________
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, lip : RKP diffuser : Fully dechromed
Bavsound Stage 1 : V1 Savvy hardwired : Self-coded, will code locally for beer or food
Appreciate 0
      04-02-2008, 11:46 AM   #5
DJ9
Captain
DJ9's Avatar
United_States
16
Rep
657
Posts

 
Drives: 2008 E92 M3_SG
Join Date: Feb 2008
Location: San Francisco/Marin County, CA

iTrader: (0)

Garage List
2008 M3  [0.00]
Quote:
Originally Posted by JS11 View Post
Im in my early twenties and the e92 m3 that i will be picking up tomorrow is the first new car that im buying under my own name. The finance person at the dealership told me that my credit score is 785 and quoted me an apr of 5.2% on $34k that i will be financing. Is that a fair enough deal or is it possible for me to get a lower apr elsewhere??
That's pretty good. I've been getting quotes around %5.61 from my CU in California...my FICO is 767 to 795 depending on credit agency.

I'd take that financing quote.
__________________
-Dave


2008 E92M3-Space Gray
Eisenmann Sport Exhaust_MT/Loaded
Appreciate 0
      04-02-2008, 11:59 AM   #6
GregW / Oregon
Commander-In-Chief
United_States
136
Rep
7,640
Posts

 
Drives: 2015 M4 Coupe, 2012 ML350
Join Date: Nov 2005
Location: Lake Oswego, OR

iTrader: (2)

Garage List
Quote:
Originally Posted by FifthStreetz View Post
5.2% is pretty good, how much are you dropping down? Do you have a co-signer?

I went to the bank yesterday to see the interest rates they offered, when i told them i could get 6.5-6.9% from the dealer they all said to just take that.
5.2 is very good. The best at my CU for over 36 months is 5.69.

Edit: MY CU is now at 5.49. I paid 5.69 2.5 weeks ago.
__________________

Greg Lake Oswego, Oregon, USA
2015 M4 Coupe - Silverstone/Sakhir/CF
2012 ML350

Last edited by GregW / Oregon; 04-02-2008 at 05:26 PM.
Appreciate 0
      04-02-2008, 12:05 PM   #7
FifthStreetz
O! So Sour!!
FifthStreetz's Avatar
United_States
193
Rep
15,558
Posts

 
Drives: Fast 240z / Slow M3
Join Date: Apr 2007
Location: Fort Lee, NJ

iTrader: (24)

Garage List
2008 M3  [4.75]
I think im just going to try to negotiate like JS11 to around 5% when i pick up my car. Im going to drop 20K on it and I have a co-signer. I believe my credit should be very good, never been late on a payment or had any problems.
__________________
Appreciate 0
      04-02-2008, 12:10 PM   #8
grkmec
Private First Class
6
Rep
165
Posts

 
Drives: 335xi
Join Date: Nov 2005
Location: stamford, ct

iTrader: (0)

bank of america is 4.89% but I think you have to have a checking account with them and sign up for automatic payments
Appreciate 0
      04-02-2008, 12:13 PM   #9
RickyM3
Enlisted Member
1
Rep
41
Posts

 
Drives: E46 M3
Join Date: Mar 2007
Location: Online

iTrader: (0)

4.34% from Bank of America
Appreciate 0
      04-02-2008, 12:38 PM   #10
aks753
Enlisted Member
0
Rep
39
Posts

 
Drives: 2008 E92 M3
Join Date: Mar 2008
Location: Stamford, CT

iTrader: (0)

Quote:
Originally Posted by RickyM3 View Post
4.34% from Bank of America
Is that through Bank of America directly or through the dealier? I got 4.7% from Bank of America through the dealer, but that was last week and I don't get the car for another 2 weeks.
Appreciate 0
      04-02-2008, 12:45 PM   #11
RickyM3
Enlisted Member
1
Rep
41
Posts

 
Drives: E46 M3
Join Date: Mar 2007
Location: Online

iTrader: (0)

Quote:
Originally Posted by aks753 View Post
Is that through Bank of America directly or through the dealier? I got 4.7% from Bank of America through the dealer, but that was last week and I don't get the car for another 2 weeks.
Bank of America directly!
Appreciate 0
      04-02-2008, 01:38 PM   #12
grkmec
Private First Class
6
Rep
165
Posts

 
Drives: 335xi
Join Date: Nov 2005
Location: stamford, ct

iTrader: (0)

Quote:
Originally Posted by RickyM3 View Post
Bank of America directly!
Where? I see 4.89% off this link:

http://www.bankofamerica.com/vehicle...ate=auto_loans
Appreciate 0
      04-02-2008, 02:03 PM   #13
FifthStreetz
O! So Sour!!
FifthStreetz's Avatar
United_States
193
Rep
15,558
Posts

 
Drives: Fast 240z / Slow M3
Join Date: Apr 2007
Location: Fort Lee, NJ

iTrader: (24)

Garage List
2008 M3  [4.75]
Chase has 4.94% for existing customers~

http://www.m3post.com/forums/showpos...60&postcount=6
__________________
Appreciate 0
      04-02-2008, 02:18 PM   #14
RickyM3
Enlisted Member
1
Rep
41
Posts

 
Drives: E46 M3
Join Date: Mar 2007
Location: Online

iTrader: (0)

Quote:
Originally Posted by grkmec View Post
I guess it's different for each state, the rate I got was for GA:
Attached Images
 
Appreciate 0
      04-02-2008, 05:17 PM   #15
Keto
Lieutenant Colonel
Keto's Avatar
United_States
21
Rep
1,582
Posts

 
Drives: F80 M3
Join Date: Jul 2007
Location: WHO DAT NATION

iTrader: (1)

Garage List
2015 BMW M3  [5.00]
Quote:
Originally Posted by FifthStreetz View Post
I think im just going to try to negotiate like JS11 to around 5% when i pick up my car. Im going to drop 20K on it and I have a co-signer. I believe my credit should be very good, never been late on a payment or had any problems.
Check your credit report now. They make mistakes frequently that can cost you a half-point or more in interest.
__________________
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, lip : RKP diffuser : Fully dechromed
Bavsound Stage 1 : V1 Savvy hardwired : Self-coded, will code locally for beer or food
Appreciate 0
      04-02-2008, 05:18 PM   #16
FifthStreetz
O! So Sour!!
FifthStreetz's Avatar
United_States
193
Rep
15,558
Posts

 
Drives: Fast 240z / Slow M3
Join Date: Apr 2007
Location: Fort Lee, NJ

iTrader: (24)

Garage List
2008 M3  [4.75]
Quote:
Originally Posted by Keto View Post
Check your credit report now. They make mistakes frequently that can cost you a half-point or more in interest.
Ok, know any good sites for free credit report?
__________________
Appreciate 0
      04-02-2008, 05:26 PM   #17
Epacy
Reincarnated
Epacy's Avatar
88
Rep
4,227
Posts

 
Drives: 02 Maxima SE
Join Date: Mar 2007
Location: IL

iTrader: (0)

Garage List
2008 M3  [0.00]
Posted this in the other thread as well. Just want people to check it out if they like.

4.24% up to 60 months at Scott Credit Union.
__________________
Appreciate 0
      04-02-2008, 05:59 PM   #18
Hans Delbruck
BMW & MB - friends in my garage
Hans Delbruck's Avatar
United_States
21
Rep
1,285
Posts

 
Drives: C63, 135i, 1959 BUICK
Join Date: May 2005
Location: Huntington Beach, CA

iTrader: (0)

Wow, cool... I had no idea rates were this low.

Makes me wanna go buy off the lot RIGHT NOW!!
__________________
2009 135i 6MT Euro Delivery 9/5/09
BMW Performance Power Kit - Exhaust - Short Shifter
Appreciate 0
      04-03-2008, 01:29 AM   #19
jtown
Lieutenant
jtown's Avatar
12
Rep
596
Posts

 
Drives: TBD
Join Date: Sep 2006
Location: Norcal

iTrader: (0)

Almost low enough to the point where paying as little down as possible makes sense.
Appreciate 0
      04-03-2008, 11:13 AM   #20
skierman64
Brigadier General
skierman64's Avatar
United_States
43
Rep
3,068
Posts

 
Drives: 2008 E92 Space Gray M3 & E36M3
Join Date: Dec 2006
Location: Greater St Louis Metro area

iTrader: (1)

Garage List
1998 M3 Coupe  [0.00]
2008 M3 Coupe  [0.00]
Send a message via Yahoo to skierman64
Are these rates that folks are quoting all fixed rates or are they variable rates.
__________________
Get a professional motorsports full featured stopwatch app for your Blackberry here: http://appworld.blackberry.com/webstore/content/19464
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
Appreciate 0
      04-03-2008, 11:30 AM   #21
Epacy
Reincarnated
Epacy's Avatar
88
Rep
4,227
Posts

 
Drives: 02 Maxima SE
Join Date: Mar 2007
Location: IL

iTrader: (0)

Garage List
2008 M3  [0.00]
me=fixed
__________________
Appreciate 0
      04-03-2008, 11:42 AM   #22
skierman64
Brigadier General
skierman64's Avatar
United_States
43
Rep
3,068
Posts

 
Drives: 2008 E92 Space Gray M3 & E36M3
Join Date: Dec 2006
Location: Greater St Louis Metro area

iTrader: (1)

Garage List
1998 M3 Coupe  [0.00]
2008 M3 Coupe  [0.00]
Send a message via Yahoo to skierman64
I will have to call Scott FCU. Used to be a member when I was stationed there, but closed the account when I left.
__________________
Get a professional motorsports full featured stopwatch app for your Blackberry here: http://appworld.blackberry.com/webstore/content/19464
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
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
Forum Jump


All times are GMT -5. The time now is 11:08 PM.




m3post
Powered by vBulletin® Version 3.7.0
Copyright ©2000 - 2014, Jelsoft Enterprises Ltd.
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