E90/e92 financing

[dantm3]

Has anyone found a bank that will finance an e9x at market value. My credit union only uses nadaguides and value on an e90 I am looking at comes in at 21k but he is asking 37k.. I have money to put down but would rather keep those funds for maintenance/rod bearings and of course mods haha.. any idea of a bank that might get closer to what these are selling for.

[oolas3]

Try DCU credit union.

[SAMM3Y]

Lightstream

[CHE///MIST3]

Almost all credit unions will use NADA values which are stupidly low. In fact, they value cars with sunroof and auto trans as a little more valuable and even if you go in and quadruple the miles on the calculator it barely makes a difference.

If you have good credit and decent income use Lightstream you may be able to score 8-9% interest on the amount you want.

[VR1]

https://www.dcu.org/about/rates.html

I've used these guys. They don't care about book values, you just put whatever the purchase price and loan amount is on the app.

[CHE///MIST3]

Originally Posted by VR1

https://www.dcu.org/about/rates.html

I've used these guys. They don't care about book values, you just put whatever the purchase price and loan amount is on the app.

Well, they turned ME down. Once I was accepted for the amount I wanted at a nice APR, they then asked me to give the seller an "intent of sale" form and when the rep started digging a little more she asked for the VIN and it was all downhill from there. They offered to finance barely like $23K of the car's selling price (approx $48K...and it is a very nice, low mileage example.

Frustratingly enough some credit unions are totally fine financing $48K for a 2012 Carrera S with 97,000 miles. NADA values are bizarre..

[BryanCO]

Originally Posted by dantm3

Has anyone found a bank that will finance an e9x at market value. My credit union only uses nadaguides and value on an e90 I am looking at comes in at 21k but he is asking 37k.. I have money to put down but would rather keep those funds for maintenance/rod bearings and of course mods haha.. any idea of a bank that might get closer to what these are selling for.

You have a 22 M3? Assume its paid for (why else would you be looking for finance the full amount of a 10+ yr old car), so refinance that car.

[SM2]

Starting this thread up again after a couple of years. DCU, appears to be having a lot of issues with current members. I've been approved by both DCU and Lightstream, wondering if there are any other options worth checking. I'm fine with DCU terms but the negative reviews makes second guess that choice.

[omgzirra_exe]

Originally Posted by SM2

Starting this thread up again after a couple of years. DCU, appears to be having a lot of issues with current members. I've been approved by both DCU and Lightstream, wondering if there are any other options worth checking. I'm fine with DCU terms but the negative reviews makes second guess that choice.

just check with your local credit union, you can even use navyfed if you wish with a small donation.

[SM2]

Originally Posted by omgzirra_exe

just check with your local credit union, you can even use navyfed if you wish with a small donation.

Thanks, CU won’t work at the moment. I will need about half down because they use NADA.

[dantm3]

Originally Posted by BryanCO

You have a 22 M3? Assume its paid for (why else would you be looking for finance the full amount of a 10+ yr old car), so refinance that car.

This thread is a few years old haha…. I have an m3 but at the time of posting I didn’t have it

[Soden82]

I just used Pen Fed Credit Union to finance my wife’s SQ5 that I bought private sale. It was all pretty quick and seamless.

[dfwf80]

+ for Pen Fed. Finance my e93 M3.Quick and seamless.

[spazzyfry123]

I'm not in the market, but just curious - what rates are folks getting to finance a 10+ year old car? Brand new cars nowadays have wild rates. Are people buying these with double digit interest?

[GOFAST M3]

Originally Posted by spazzyfry123

I'm not in the market, but just curious - what rates are folks getting to finance a 10+ year old car? Brand new cars nowadays have wild rates. Are people buying these with double digit interest?

I was approved for 6% this week on a 2012.

[BMWJU]

Originally Posted by GOFAST M3

I was approved for 6% this week on a 2012.

what was your credit score may i ask and how much down? been trying to get a m3 for years as its my dream car

[Brandoch]

Originally Posted by BMWJU

what was your credit score may i ask and how much down? been trying to get a m3 for years as its my dream car

My advice to you, wait until you don't have to ask that question.
Not meaning to insult, only want to help.

[GOFAST M3]

My credit is high 700 to low 800 and I put 25% or $10K down. I went through a local Credit Union, and believe my rate is particularly good in this environment. They loaned around 118% of the loan to value I believe as well.

Going outside the credit union, I think 7.25% was my next best offer, with Lighstream I believe it was.

[MTiz]

Chiming in to +1 on Navy Federal.

They financed $30k on my old E60 M5 6-Speed manual about 2 years ago. Their system originally was going to deny it since the KBB values on E60 M5's are sub >$20k, but a senior underwriter went in and approved it immediately.

Ended up selling that car for my current '18 F80 ZCP, also financed through Navy Fed. Got 7% @ $50k ~6 months ago with a long line and history of positive credit. I think rates have come back down a bit since then. Great union, 100% recommend them.