[vj123]

Originally Posted by MisPWR

How long does it take for an approval from a CU?

My CU provides their decision within a couple of hours.

[DocWeatherington]

Originally Posted by MisPWR

How long does it take for an approval from a CU? I got approved by BMW Financial but not for the full amount.
*I’m trading in a lease with upside down*

I denied BMW financial since they wanted me to put a ton of money down, we’re talking 30k.

My finance manager was going to look into 2 credit unions. It’s been a week so far, no updates.

Banks are tightening requirements as people are defaulting. If you walk in upside down and or have credit issues you have to take the best offer you got.

Banks aren't wanting to take on negative equity in this market so.

Personally you may want to hold until the lease is finished or pay out. Some banks will only do 110% of the value thus the requirement for a larger down payment.

[Adcampo]

I don’t mind longer term loans if the interest is good. Only because I never keep a car more than 2-3 years. I’m never up side down when I go to sell it.

Now if you plan on keeping a car, 84 months @6%+ is a lot of extra interest to pay.

[AlmondJayRoM3]

Originally Posted by Jetolso

It’s a scam - designed to make you pay interest first, and more principal later.

Fair would be to pay a fixed portion of the payment to interest each month, i.e. $1500 principal, $250 interest - each month, every month.

A “logical” amortization schedule that favors paying the interest first is only meant to make the bank whole first and you second. Supporting it is shooting consumers in the foot.

You are then taking a loan on interest and paying later or lowering effective rate. Doesn’t make sense. You can’t get around the math. Interest is a percentage of balance. Same way interest works in your savings accounts. Don’t want to pay the interest, don’t borrow the money or pay extra.

[CiaranRomero]

I totally get your frustration with the way some amortization schedules are structured. It's true that they often front-load the interest payments, which can feel like you're not making much progress on the principal. It's essential to understand how your loan works and make informed decisions.

If you're looking for a more transparent approach to mortgages, you might want to consider reaching out to a knowledgeable professional like a Mortgage Broker Birmingham. They can provide you with personalized guidance and help you find a mortgage that aligns with your financial goals. It's all about finding the right fit for your situation.

[dkm808]

BMW gave me 6.99 for 72 months and my credit score is 830.

[maguir2]

5.29% for 60 months with BMWFS

[DefiantVitreous]

^ that's what I just got. Taking delivery in Dec. and hoping for some better end of year "deals".

[SevenNine]

Does anyone know the interest rate for BMW Select? Is it also 5.29% for 60 months? On bmwusa.com it shows 6.29% for both regular financing and BMW Select when estimating payments for a build.

[Buckeyes]

Originally Posted by SevenNine

Does anyone know the interest rate for BMW Select? Is it also 5.29% for 60 months? On bmwusa.com it shows 6.29% for both regular financing and BMW Select when estimating payments for a build.

Should be the same. BMW rate is 5.29 but most dealer are adding 1%.

[Needsdecaf]

Originally Posted by maguir2

5.29% for 60 months with BMWFS

yeah, that appears to be the new base rate up from 4.99%. Sucks my build got delayed as it cost me that gap but I'm only financing a small amount so it's not the end of the world.

[Limegrntaln]

All of these numbers make my head hurt. I'm so glad that I got in with BMWFS @ 0.9% for 60. 24 months in, and I've, only paid about $1,820 in finance charges on $117k financed, making regular payments, I only owe like $79k, now. I couldn't do it, today. The rates are just nuts.

[Polo08816]

Originally Posted by Limegrntaln

All of these numbers make my head hurt. I'm so glad that I got in with BMWFS @ 0.9% for 60. 24 months in, and I've, only paid about $1,820 in finance charges on $117k financed, making regular payments, I only owe like $79k, now. I couldn't do it, today. The rates are just nuts.

Is it even possible to option an M3 or M4 to $117k?

[DGNFY]

Originally Posted by Polo08816

Is it even possible to option an M3 or M4 to $117k?

Fully loaded and mperf parts probably.

[Needsdecaf]

Originally Posted by Polo08816

Is it even possible to option an M3 or M4 to $117k?

Originally Posted by DGNFY

Fully loaded and mperf parts probably.

Plus registration and taxes. That poster is in CA.

[Berzerker]

Originally Posted by Polo08816

Is it even possible to option an M3 or M4 to $117k?

The G83 starts at just over $93k, CCBs alone will bring it over $100k.

Mine was right around that $117k mark (not quite), every option except CCBs plus an individual color ($4500).

[Limegrntaln]

Originally Posted by Polo08816

Is it even possible to option an M3 or M4 to $117k?

It is with tax and tags, but, yes, $108k MSRP. Every option except buckets. With CCBs and M Drivers Package.

Originally Posted by DGNFY

Fully loaded and mperf parts probably.

No M Performance parts.

Try to spec it since they increased the price. Order a 2024, it’s $7,000 more than my car was, with the same options. The car would be $124k with tax, now.

I did eventually add a lot more to it. The front lip, side skirts, and rear winglets are OEM, but, they were added after I took delivery. This is $153k with tax and tags, as it sits.

[PipeM3]

Originally Posted by Buckeyes

Should be the same. BMW rate is 5.29 but most dealer are adding 1%.

That’s correct! Happened to me while talking to my dealer, same BS of BMW has it at 6.29… NO!, you guys (dealer) are marking it up!

[Polo08816]

Originally Posted by Berzerker

The G83 starts at just over $93k, CCBs alone will bring it over $100k.

Mine was right around that $117k mark (not quite), every option except CCBs plus an individual color ($4500).

Yikes. These things have become so expensive that it seems like it's going into Porsche territory.

Maybe that's why the BMW CCA HPDE community size keeps decreasing... when you're over the $100k mark, why not just get a Cayman or 911 and join the PCA community.

[Berzerker]

Originally Posted by Polo08816

Yikes. These things have become so expensive that it seems like it's going into Porsche territory.

Maybe that's why the BMW CCA HPDE community size keeps decreasing... when you're over the $100k mark, why not just get a Cayman or 911 and join the PCA community.

You'd think that but then Porsche gets into its own new territory lol. 911s *start* at >$115k now. There's a "50 year" edition 911 now that's north of 200k.

[robopp]

Originally Posted by Polo08816

Yikes. These things have become so expensive that it seems like it's going into Porsche territory.

Maybe that's why the BMW CCA HPDE community size keeps decreasing... when you're over the $100k mark, why not just get a Cayman or 911 and join the PCA community.

$117k is 3k less than I paid for my (at least to me) perfectly speced 992 Carrera T. That’s wild for me to think about.

[Polo08816]

Originally Posted by Berzerker

You'd think that but then Porsche gets into its own new territory lol. 911s *start* at >$115k now. There's a "50 year" edition 911 now that's north of 200k.

There's no doubt they have become more expensive.

But at those high price points, I would imagine someone who can afford a $120k car can afford a $150k car. Likewise, someone who can afford a $150k car can probably afford a $200k car. Price sensitivity isn't as high as the demographic that is shopping in the $30-60k price range where each $10k-15k is substantial.

I can see someone wanting a G8X M3/M4 for practicality if they're living in a space constrained urban area.

But if someone can spend $100k> on a car and lives in a rural or suburban area, I think there's a high probability they probably have another vehicle like an SUV or pickup already. If that's the case, perhaps they don't need the practicality of the G8X M3/M4 and would opt for a Porsche in that price range.