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      01-28-2023, 05:22 PM   #1
Patsfan1997
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Any way to get a better interest rate than BMWF?

Current rate for 84 month financing with BMWF is 7.9% Has anyone tried getting the car loan from another lender instead? Is it even possible to get a better rate?

I'm reading threads in the US with people getting 3.49% for 72 months from credit unions. Crazy difference!
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      01-28-2023, 06:11 PM   #2
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Quote:
Originally Posted by Patsfan1997 View Post
Current rate for 84 month financing with BMWF is 7.9% Has anyone tried getting the car loan from another lender instead? Is it even possible to get a better rate?

I'm reading threads in the US with people getting 3.49% for 72 months from credit unions. Crazy difference!
I am trying to figure this out as well. And the CU people mention when I go to their website it will show current auto loan rate is 4.99%. So I am wondering if they advertise average credit score rate and if u have excellent you can get better. But I feel like typically they advertise lowest possible rate.
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      01-29-2023, 08:09 AM   #3
Patsfan1997
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Quote:
Originally Posted by kgelfen360 View Post
I am trying to figure this out as well. And the CU people mention when I go to their website it will show current auto loan rate is 4.99%. So I am wondering if they advertise average credit score rate and if u have excellent you can get better. But I feel like typically they advertise lowest possible rate.
I believe the financing rates in Canada are generally much higher than in the US, but 4.99% seems more realistic than 3.49% IMO.
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      03-29-2023, 01:59 PM   #4
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Lower the term to save some interest. 84 months is brutal. Even at 4.99 is still 22k of interest on a 120k loan.
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