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      09-19-2012, 07:26 PM   #1
E90Enthusiast
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Finance through BMW?

I'm curious how many people that financed or are financing their BMW went through BMW compared to a bank or credit union. At the end of the day does BMW typically stay competitive with banks/credit unions?
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      09-19-2012, 07:33 PM   #2
Denton
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Some CUs are better than others but BMW, at least for a dealer, will finance a lot of stuff like, say, a 2004 Toyota.
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      09-19-2012, 09:21 PM   #3
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BMW N.A. here.

Best rate since it was a promo rate.
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      09-19-2012, 11:42 PM   #4
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Quote:
Originally Posted by E90Enthusiast View Post
I'm curious how many people that financed or are financing their BMW went through BMW compared to a bank or credit union. At the end of the day does BMW typically stay competitive with banks/credit unions?
Good question.
I'm considering a purchase this winter and balancing between BMW Financing and paying cash. Of course, cash would mean financing via my bank.

I guess it all depends on rates. But, sometimes there are cash incentives. So one has to do the math to decide which outcome is the best.
I suppose I won't know until I'm ready to pull the trigger, but when I'm ready, I'll have a rate from my bank that I can compare to the rates and incentives from BMW at the time.
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      09-20-2012, 07:17 AM   #5
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I went through the BMW dealership but my loan is serviced by a credit union. My interest rate is lower than it would have been had I financed it through one of the banks I use. Hell, Chase wouldn't even finance the purchase because the car I bought is too old.
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      09-20-2012, 08:07 AM   #6
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BMW financial for me! Nobody could beat there 2.9%
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      09-20-2012, 09:03 AM   #7
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BMW Bank does seem to be competitive, especially when you add their incentives. However, you should still do your homework. My credit union, which I never normally consider because their rates usually aren't the best, was running a special program and beat BMWs rate by half.
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      09-22-2012, 12:20 PM   #8
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bmw fa on both vehicles.
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      09-22-2012, 04:01 PM   #9
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BMW for me too. Can't beat 0.9% apr.
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      09-22-2012, 07:05 PM   #10
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Financed through my credit union. Check with them too bc they can give a good rate if you have an account with them
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      09-23-2012, 11:22 PM   #11
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I have 0.9% on my 2009 e90 and 3.79% on my f30 through bmw fs. Plus loyalty program incentives.
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      09-24-2012, 06:48 AM   #12
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how do you guys get 0.9%
isn't it 3.79% now?
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      09-24-2012, 06:50 AM   #13
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how do you guys get 0.9%
isn't it 3.79% now?
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      09-24-2012, 08:06 AM   #14
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My local dealer uses Chase. Currently 1.49% for 36-60 months with excellent credit.
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      09-24-2012, 09:48 PM   #15
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Quote:
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My local dealer uses Chase. Currently 1.49% for 36-60 months with excellent credit.
Bish
Closing tomorrow and doing a credit union loan. Perfect credit and 2.2% from the CU and the dealer couldn't get close to that rate. Last time we purchased a car (Odyssey, Honda dealership under same ownership as my BMW dealer) we had a similarly good rate but the dealer surprised us with a 0.9% rate so we went with them.
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      09-29-2012, 01:29 AM   #16
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BECU @2.9%

BECU here in Seattle is 2.9%. They had a 1.9 deal about a month ago.
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      09-29-2012, 03:17 PM   #17
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Better rate through a Credit Union here. I have 1.6% through Blue Harbor Auto on a 36 month loan. The best competing rates were 1.9% from TD, and I think 1.99% from BMW NA financing.

Bit of a no-brainer for me.
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      09-29-2012, 09:27 PM   #18
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Those are awesome rates.

Unfortunately here in Australia interest rates are ridiculously high, so if you can get 8% you're doing well. This is on top of the fact that BMWs sell for crazy prices here in the first place.
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      09-30-2012, 12:27 AM   #19
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My rate thru BMW FS sucked so much I dare not say what it is. Will be refinancing in a few days with Chase and cutting my rate in half.
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      10-01-2012, 07:11 PM   #20
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BMW Financial Services since my first BMW
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      10-02-2012, 01:36 AM   #21
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0.9% for 2 year loans

I also went with the 0.9% rate direct from BMW financing. For my X3 purchase last year this rate was available for 2 year loans at least. I think the rate was 3.9%, and thus too high and uninteresting to me, for longer loan terms.
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      10-02-2012, 06:42 AM   #22
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Quote:
Originally Posted by stonelx View Post
I guess it all depends on rates. But, sometimes there are cash incentives. So one has to do the math to decide which outcome is the best.
Exactly. Look in the details. On my 2010 CPO, BMW FS was 3/4 of a point higher than my credit union... but had a deal where they pay up to $500 of the first three payments. 3/4 of a point vs $1500 incentive was a no brainer in my situation, I went with BMW FS.
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