[ssangjune]

For those who are financing through BMW, how much APR % are you getting?

Right now my dealer told me that BMW's "Prestige" APR is 6.6%.

Am I getting screwed or is he telling the truth?

How can I get the dealer to give me a lower APR %?

thanks.

[gusshane]

I dont know where you are but my local credit union offered 5% for 60 months, and I think that is probably an "ok" deal. My credit score is very good, but not excellent, so I dont think the deal I got is unobtainable by most people.

[Xuiside]

What is your credit score?

When i purchased my Merc E320 '04 (which i returned cuz it was a *&$% lemon & now in the market for a E90 lol) my APR was 3.9%

[F32Fleet]

rates usually attached to credit score. Credit unions are usually better because their non-profit and therefore charge lower rates.

[Dani]

I did 72 months to lower my payments and BMW gave me 6.1% through Sun Trust Bank (I thinkit's a local bank). Longer loans have higher rates so if you finance for a shorter term you can get a lower rate. Before I went to get my car I got a loan approval through capitaloneauto.com. Their rates are good and BMW will beat them if they can. I used capitalone for my last car (Acura) and they are very good so check there if BMW can't give you a good rate.

[TwinPowerF30]

mercedes always have low rates, i find the current lease/finance rates are so high here in Canada

[EVO_S4]

They offer me 2month ago at 4.9 but when I was picking up my car they said the rates went up to 5.6. (My credit score is almost almost 800). end up getting it from capital one at the 4.9

[scottz5]

5% for 60m credit union

[Barry626]

BMW got me a loan with "Xerox" for 4.95% 48 months.
Most car loans are in 6+% for really good credit scores.

[Armen52]

I got 5.5% for 60 months. I am a new college graduate with almost no credit I had to jump through some hoops to get that rate though. Check the other thread with financing rate information to see what, why, and how.

[dmbigs]

i think the finance issues are getting confused....dealer can get you very low rates (low being relative) through local or national auto banks, but BMW as a financial institution has far from competetive rates....credit unions can offer very good rates , but similiar rates can be found through dealer offered banks that offer benefits most credit union dont or cant offer (free GAP insurance, more benefical interest structures). Depend on the dealer, and your knowledge. For the most part if you have a credit bureau above 700, u can find bank that considers u tier 1 credit. Mid 4% is around the best being offered right now up to 60 months, with about a point increase for each year longer on the loan.

[dennis46c]

I told the dealer I was going to use Capital One or Eloan for at 5.29% for 60 months, they came back with 4.75% up to 63 months through Chase and no down (although I'm putting around 30% down). Their wholesale rates through banks are much lower than retail. My 525xi gets here at the end of the month!

[cosby]

Originally Posted by pinghung777

Do anybody tried E-loan before?

I looked at E-loan but I think Capital One has a better interest rate - especially if you are doing more than 36 months. I got 5.35% for 60 months with an excellent credit score through Capital One.

[deutschmann59]

5.9% through BMW financing for 60 months. That was back in March, so you know, when I placed the order. The rates change every month I think, but the dealer said BMW financing can "lock" in the interest rate quoted at that time, even though I didn't take delivery until May. I'm only out of college for a year, so my credit isn't that high either.

[egtlover74]

4.8 % from bmw financing for 63 month.