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      08-14-2016, 07:00 PM   #1
bgalex
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Exclamation Auto Loan Finance Help!

Hey guys, looking at this E90 11' M3 Competition package that is out of state and was wondering where I can apply for a loan with low %.

I have perfect credit, but the banks ive searched ( Chase, BMO, Capital 1, Wells and some others) require an authorized deaership in order to use the loan and cant be out of state.

Even tried my own Credit union Im with right now but they dont do out of state loans...

So Im stuck now, I read PenFed and DCU are good from topics on here but did not see whether or not I can use the lond to purchase the car that is out of state of where I live.

Help would be appreciated as Im trying to join the E90 family as I own an E46 M3 currently.

Thanks in advanced!
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      08-14-2016, 07:23 PM   #2
jhanksevo
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if you are military or know anyone in it try usaa or navy federal. I bought mine from out of state and a small dealership
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      08-14-2016, 07:36 PM   #3
bgalex
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Quote:
Originally Posted by jhanksevo View Post
if you are military or know anyone in it try usaa or navy federal. I bought mine from out of state and a small dealership
Unfortunately Im not military, I guess I should of stated that above.

Would PenFed or DCU work for out of state purchase like my situation?
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      08-14-2016, 07:47 PM   #4
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Try Lightstream.com from SunTrust. I got a stupid low rate last year.
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      08-14-2016, 07:59 PM   #5
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Quote:
Originally Posted by 4130 View Post
Try Lightstream.com from SunTrust. I got a stupid low rate last year.
I can use the loan for out of state purchase? Any registrations or need to be part of military to get the loan or no?

Thanks
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      08-14-2016, 08:43 PM   #6
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i financed through a credit union and they didn't care where the car was. they gave me a bank check for the amount financed and i had like 30 days to come in with the registration and proof of insurance or something like that. it was incredibly easy even though it was private party.
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      08-15-2016, 10:53 AM   #7
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Quote:
Originally Posted by roastbeef View Post
i financed through a credit union and they didn't care where the car was. they gave me a bank check for the amount financed and i had like 30 days to come in with the registration and proof of insurance or something like that. it was incredibly easy even though it was private party.
That's how PenFed works as well - super easy.
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      08-15-2016, 12:11 PM   #8
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Originally Posted by PGas32 View Post
That's how PenFed works as well - super easy.
No military affiliation needed. I don't recall them asking me where the car was. Similar to what the folks above say with the credit union, I was sent a check and handed it over to the dealer. No fuss.
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      08-15-2016, 10:31 PM   #9
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Lightstream
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      08-16-2016, 07:31 AM   #10
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Sounds like there are plenty of great choices, but I have used penfed twice with great success

Currently financing half of my wife's 2015 q5 3.0t with them, got approved online instantly and had a check in my hands 2 days later.
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      08-25-2016, 03:13 PM   #11
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Pen Fed is perfect for this.
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      08-25-2016, 08:32 PM   #12
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Suntrust is usually awesome!
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      08-26-2016, 12:03 PM   #13
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Quote:
Originally Posted by roastbeef View Post
i financed through a credit union and they didn't care where the car was. they gave me a bank check for the amount financed and i had like 30 days to come in with the registration and proof of insurance or something like that. it was incredibly easy even though it was private party.
+2, as I did the same thing twice *lol*.
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      08-26-2016, 12:58 PM   #14
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+1 for Lightstream. They send you funds, you buy the car and get the title in hand rather than it being held by the bank. You don't have to tell them what you're buying. It's as simple as completing a form with your dollar amount loan term. You can see the ballpark interest rate when you enter in the month term. Mine was 3%. Approval is generally same day. If it looks good, sign digitally and money's wired to you the next day.
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      08-26-2016, 01:23 PM   #15
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+2 Lightstream FTW
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      09-08-2016, 02:31 PM   #16
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Quote:
Originally Posted by bgalex View Post
Hey guys, looking at this E90 11' M3 Competition package that is out of state and was wondering where I can apply for a loan with low %.

I have perfect credit, but the banks ive searched ( Chase, BMO, Capital 1, Wells and some others) require an authorized deaership in order to use the loan and cant be out of state.

Even tried my own Credit union Im with right now but they dont do out of state loans...

So Im stuck now, I read PenFed and DCU are good from topics on here but did not see whether or not I can use the lond to purchase the car that is out of state of where I live.

Help would be appreciated as Im trying to join the E90 family as I own an E46 M3 currently.

Thanks in advanced!
You can absolutely use Penfed to purchase an out of state car. I have.

Not sure if you know the "trick" if you're not currently in the military, but join Voices of Veterans for $20 (might be $25 I forget)... One time fee and wham, you're in like Flynn.

https://blog.penfed.org/ways-to-become-a-member/
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      09-08-2016, 03:00 PM   #17
bgalex
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Quote:
Originally Posted by itrsteve
Quote:
Originally Posted by bgalex View Post
Hey guys, looking at this E90 11' M3 Competition package that is out of state and was wondering where I can apply for a loan with low %.

I have perfect credit, but the banks ive searched ( Chase, BMO, Capital 1, Wells and some others) require an authorized deaership in order to use the loan and cant be out of state.

Even tried my own Credit union Im with right now but they dont do out of state loans...

So Im stuck now, I read PenFed and DCU are good from topics on here but did not see whether or not I can use the lond to purchase the car that is out of state of where I live.

Help would be appreciated as Im trying to join the E90 family as I own an E46 M3 currently.

Thanks in advanced!
You can absolutely use Penfed to purchase an out of state car. I have.

Not sure if you know the "trick" if you're not currently in the military, but join Voices of Veterans for $20 (might be $25 I forget)... One time fee and wham, you're in like Flynn.

https://blog.penfed.org/ways-to-become-a-member/
I went through my own credit union as I found the ones above a hassle since it was all online.

I already purchased the M3. But thanks again
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      09-08-2016, 03:49 PM   #18
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DCU does not care. Im in California, and found a car near them in Mass. Just have the sales contract correct.

Penfed is a good choice and lightstream if your credit score is very good to excellent.
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      09-08-2016, 05:39 PM   #19
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Bank of America works for out of state too. 100% online application if you want. Allows the seller to walk into any BOA branch and pick up the check without you having to be there. Seller is never worried about fake checks this way.
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      09-09-2016, 01:54 PM   #20
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PenFed is my go-to.
Financed used 330Ci and X3 previously.
Now going to them with my M3.
Always felt easy to use, and website is straightforward as well.
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      09-10-2016, 03:25 PM   #21
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Do not use back of america, they're a total scam. Like everyone states use PenFed or Lightstream.
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      02-24-2017, 06:23 PM   #22
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Quote:
Originally Posted by Nihilation View Post
+1 for Lightstream. They send you funds, you buy the car and get the title in hand rather than it being held by the bank. You don't have to tell them what you're buying. It's as simple as completing a form with your dollar amount loan term. You can see the ballpark interest rate when you enter in the month term. Mine was 3%. Approval is generally same day. If it looks good, sign digitally and money's wired to you the next day.
This rate seems low. If you don't mind, what are your terms? I got approved by LightStream at 4.25% for 25k/60 mo. Seems high for me (zero debt ex credit). Might shop around more, but have little time. Thanks.
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