Best rate for financing used car?

xtac · 01-30-2009, 05:23 PM

For someone with excellent credit, who do you recommend you go through when purchasing a cpo 07 335, is it always wise to with bmw, or a third party? Also what type of rate should I be expecting? Most advertised rates I see are 5.30%

atr_hugo · 01-30-2009, 05:52 PM

xtac - check with your bank to see what rate they'd give you, then shop that rate.

xtac · 01-31-2009, 01:26 AM

Thannks, but I am more interested to see what others have gotten recently, I have to shop the rate regardless

Houman21 · 01-31-2009, 02:16 AM

I know that CPO rates from BMW for 05-06 cars is .9% - I don't think that you'll get a better rates outside of BMWFS , especially right now and probably the rest of the year. Bank rates for used cars are usually higher than new. You may want to sit and wait for more lease returns for 2007 models, BMW may extend their rates to include 2007 as well.

Good Luck either way!

firewired · 01-31-2009, 06:33 AM

penfed 4.75% for 60 months on used 72 months new. Used them for years.

rick504 · 01-31-2009, 06:57 AM

Quote:

Originally Posted by firewired

penfed 4.75% for 60 months on used 72 months new. Used them for years.

same here!!

adr1974 · 01-31-2009, 10:13 AM

Same here...and it's something like a one-time $20 fee to join (if you do not otherwise qualify).

xtac · 01-31-2009, 11:09 AM

penfed, heard alot about them! yeah the 0.9% financing for 05-06 can't beat but I am aiming for the 335 so 07 is the earliest.

wynnnj1977 · 02-02-2009, 04:59 PM

From my experience, BMWFS offers the best APR rate. I spoke with my CA, the APR for non-promotion rate was not more than 4.9% (MY2007), much better than the bank.

SLO · 02-04-2009, 12:01 AM

3.99 if you apply online at pentfed.org. Also, look into their payment reduction option. It's very similar to a lease but you own the car.

01-30-2009, 05:23 PM	#1
xtac Captain 155 Rep 780 Posts Drives: 17 F80 Comp Join Date: Jan 2009 Location: Long Island iTrader: (2)	Best rate for financing used car? For someone with excellent credit, who do you recommend you go through when purchasing a cpo 07 335, is it always wise to with bmw, or a third party? Also what type of rate should I be expecting? Most advertised rates I see are 5.30%
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01-30-2009, 05:52 PM	#2
atr_hugo No longer moderate 325 Rep 4,401 Posts Drives: '13 135i Join Date: Jun 2007 Location: - iTrader: (0)	xtac - check with your bank to see what rate they'd give you, then shop that rate.
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01-31-2009, 01:26 AM	#3
xtac Captain 155 Rep 780 Posts Drives: 17 F80 Comp Join Date: Jan 2009 Location: Long Island iTrader: (2)	Thannks, but I am more interested to see what others have gotten recently, I have to shop the rate regardless
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01-31-2009, 02:16 AM	#4
Houman21 Captain 30 Rep 949 Posts Drives: Nothin right now Join Date: Jul 2005 Location: L.A. iTrader: (0)	I know that CPO rates from BMW for 05-06 cars is .9% - I don't think that you'll get a better rates outside of BMWFS , especially right now and probably the rest of the year. Bank rates for used cars are usually higher than new. You may want to sit and wait for more lease returns for 2007 models, BMW may extend their rates to include 2007 as well. Good Luck either way! __________________ 2008 e92 335i Step \| Is Gone - It was fun but not meant to be \| M3 - Cancelled \| 135 Ordered
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01-31-2009, 06:33 AM	#5
firewired Private First Class 22 Rep 174 Posts Drives: 2010 M3 Sdn Join Date: Nov 2005 Location: San Antonio iTrader: (0)	penfed 4.75% for 60 months on used 72 months new. Used them for years.
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01-31-2009, 10:13 AM	#7
adr1974 Lieutenant 128 Rep 415 Posts Drives: 2021 X5 xDrive 40i Join Date: Jun 2008 Location: Maryland iTrader: (0)	Same here...and it's something like a one-time $20 fee to join (if you do not otherwise qualify).
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01-31-2009, 11:09 AM	#8
xtac Captain 155 Rep 780 Posts Drives: 17 F80 Comp Join Date: Jan 2009 Location: Long Island iTrader: (2)	penfed, heard alot about them! yeah the 0.9% financing for 05-06 can't beat but I am aiming for the 335 so 07 is the earliest.
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02-02-2009, 04:59 PM	#9
wynnnj1977 Private First Class 3 Rep 110 Posts Drives: 06 Jet Bl/Bl, 330xi, 6MT Join Date: Dec 2008 Location: NJ iTrader: (1) Garage List 2006 330xi [0.00]	From my experience, BMWFS offers the best APR rate. I spoke with my CA, the APR for non-promotion rate was not more than 4.9% (MY2007), much better than the bank.
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02-04-2009, 12:01 AM	#10
SLO Shane 41 Rep 363 Posts Drives: M3, RRS, LR4 Join Date: Jan 2009 Location: Portland, OR iTrader: (0)	3.99 if you apply online at pentfed.org. Also, look into their payment reduction option. It's very similar to a lease but you own the car.
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