[Bimmerfun82]

4.0% from BofA. 48 or 60 mos. Waiting to see what BMW NA offers.

[M3X_TB2]

4.99% at 72 months via BMWFS.

[JDUNITNOW]

Originally Posted by M3X_TB2

4.99% at 72 months via BMWFS.

Damn, I got 2.9 with BMFS with dealer adding a point back in December.

[padrino]

Just got quoted 3.99 via BMWFS, that’s with no dealer markup.. I know another that adds a point, and sure enough they are running 4.99 this week…

[Bimmerfun82]

Originally Posted by JDUNITNOW

Damn, I got 2.9 with BMFS with dealer adding a point back in December.

I got 2.37% back in April. Times have changed.

[Lakeside]

I hope I can ask this here. I have a car coming likely in January. BMW says they can lock now, but the dealer is doing 5.29% and I can’t get an allocation elsewhere.

Do I have to wait to lock at a bank or credit union? I’m worried about future rate increases this year. Thinking I could get my loyalty credit and refinance a few months after delivery, but I’ve never refinanced a car. In fact I haven’t financed anything since 2012 so I’m rusty.

[G-Mann]

Originally Posted by Lakeside

I hope I can ask this here. I have a car coming likely in January. BMW says they can lock now, but the dealer is doing 5.29% and I can’t get an allocation elsewhere.

Do I have to wait to lock at a bank or credit union? I’m worried about future rate increases this year. Thinking I could get my loyalty credit and refinance a few months after delivery, but I’ve never refinanced a car. In fact I haven’t financed anything since 2012 so I’m rusty.

It is going to be a timing issue with a bank or CU, lock times will vary, you will need to start making some phone calls or online chats and find out. One of mine would lock the rate for 30 and the loan application was good for 60, most were 30 & 30. I did not come across any in my area that would lock longer than 30, those days are gone with what the feds are planning, 3 more rate hikes before the year is out.

What I did is locked with BMW back in June and made that my worse case scenario and then when I got on a ship started calling CU's. In the end since I locked in June BMWFS was competitive to what my CU's were offering Today. Keep in mind that all applications can be a hit to your credit score so tread lightly. I would say that 3.99 should be easily obtained with a CU.

[M3X_TB2]

Originally Posted by JDUNITNOW

Damn, I got 2.9 with BMFS with dealer adding a point back in December.

Yeah I unfortunately had to sit through the MY22 / MY23 roll over so my rate lock expired and BMWFS was unwilling to match the rate at the time of allocation.

[vj123]

Originally Posted by Lakeside

I hope I can ask this here. I have a car coming likely in January. BMW says they can lock now, but the dealer is doing 5.29% and I can't get an allocation elsewhere.

Do I have to wait to lock at a bank or credit union? I'm worried about future rate increases this year. Thinking I could get my loyalty credit and refinance a few months after delivery, but I've never refinanced a car. In fact I haven't financed anything since 2012 so I'm rusty.

I locked rate with my CU right after my vehicle completed production. They could lock the rates for 60 days and i did the paperwork right on the last day.

To be on the safer side, i locked BMW rates with my dealer as well as they were offering base rate. People were also reporting that BMW were extending the rate even after rate lock duration if the vehicle was delayed due to manufacturing or logistic issues.

Looks like your dealer is marking up the rate by 1%.

[Lakeside]

Originally Posted by vj123

I locked rate with my CU right after my vehicle completed production. They could lock the rates for 60 days and i did the paperwork right on the last day.

To be on the safer side, i locked BMW rates with my dealer as well as they were offering base rate. People were also reporting that BMW were extending the rate even after rate lock duration if the vehicle was delayed due to manufacturing or logistic issues.

Looks like your dealer is marking up the rate by 1%.

Yes. The dealer with less optimal financial terms is the best one in terms of the sales associates and an allocation available. The dealers with better financial terms have terrible sales and service and a long line for M cars.

[chujk1985]

How long is the BMWFS rate lock good for?

[vj123]

Originally Posted by chujk1985

How long is the BMWFS rate lock good for?

Post covid, 90 days for east coast and 120 days for west coast.

[Retro707]

Iam in the north bay and various CUs that will for sure beat bmwfs

Safe CU
Travis CU
Golden 1 CU
Redwood CU

Checking all rates tomorrow and the reason why it’s best to just do it right the first time and avoid refinancing is that you’ll have one hard inquiry vs two ( some people do care about that) and you’ll have to do the paperwork 2x instead of once

Right now Iam confident I can get 2.8-3.5 on 60-72

Which automatically beats 4.29 or 4.79 that someone said bmw was offering

1% on 100k makes a decent difference.

Leasing right now makes absolutely zero sense

MF was said to be .000240 which equates to 5.76% no thanks.


I guess it comes down to how much payment you’re willing to afford

[M4ord]

4.29 with BoA on 60 Month signed in June.

[FoxberryJam]

4.49% w/ BMWFS

[vmalho2]

Originally Posted by padrino

Just got quoted 3.99 via BMWFS, that’s with no dealer markup.. I know another that adds a point, and sure enough they are running 4.99 this week…

Dumb question, but how did you get a quote via BMWFS or when you say that what does exactly mean? When I go on the site it redirects me to my dealer for BMWFS financing which is “marked up” and close to 5.75% which is quite a bit compared to CUs and other potential options mentioned within the forum.

Is there a form or link for BMWFS I’m not seeing or do I need to give them a call?

[Bimmerfun82]

Originally Posted by vmalho2

Dumb question, but how did you get a quote via BMWFS or when you say that what does exactly mean? When I go on the site it redirects me to my dealer for BMWFS financing which is “marked up” and close to 5.75% which is quite a bit compared to CUs and other potential options mentioned within the forum.

Is there a form or link for BMWFS I’m not seeing or do I need to give them a call?

My understanding is it's up to your dealer. And my experience is BofA is always lower (at least has been over the last 10 years)

[vj123]

Originally Posted by vmalho2

Dumb question, but how did you get a quote via BMWFS or when you say that what does exactly mean? When I go on the site it redirects me to my dealer for BMWFS financing which is “marked up” and close to 5.75% which is quite a bit compared to CUs and other potential options mentioned within the forum.

Is there a form or link for BMWFS I’m not seeing or do I need to give them a call?

People post current rates and its 4.29% for 60 months and 4.79% for 72 months. Once you submit the credit application through BMW online page or through the dealer, your dealer would give you the final rate based on your approval. Before applying, you can reach out to your CA to understand if they are offering the base rate or if it will be marked up.

[vmalho2]

Originally Posted by vj123

People post current rates and its 4.29% for 60 months and 4.79% for 72 months. Once you submit the credit application through BMW online page or through the dealer, your dealer would give you the final rate based on your approval. Before applying, you can reach out to your CA to understand if they are offering the base rate or if it will be marked up.

Makes sense! Thanks

[padrino]

Originally Posted by vmalho2

Dumb question, but how did you get a quote via BMWFS or when you say that what does exactly mean? When I go on the site it redirects me to my dealer for BMWFS financing which is “marked up” and close to 5.75% which is quite a bit compared to CUs and other potential options mentioned within the forum.

Is there a form or link for BMWFS I’m not seeing or do I need to give them a call?

As others have said it's through the dealer, I was referring to the BMWFS rate, you should be able to ask your dealer what the markup is, at least I hope they would disclose it but I don't suppose they need to.. I work with a dealer that doesn't do points on rates so I always know what the *actual* BMW rate is, there are a bunch around, just need to find them.

[Sopiarz3]

I was just given back a BMWFS rate of 8.99%

This most likely has the dealer markup on it, but still VERY high.

[vj123]

Originally Posted by Sopiarz3

I was just given back a BMWFS rate of 8.99%

This most likely has the dealer markup on it, but still VERY high.

AFAIK, dealers can only add 1% to BMWs approved rate. Maybe you were approved for a higher rate with your score / history.