08-16-2022, 06:18 AM | #89 |
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No, it's definitely sleezy, but you always need to be an informed consumer and if you don't like the deal, walk away.
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08-18-2022, 12:01 AM | #91 |
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I see a lot of people applying for penfed…do you have to be a member or can you still apply for a loan?
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08-18-2022, 09:07 AM | #92 | |
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BMW used to offer a discount/rebate to PenFed members, but if you ordered in 2021 and your car did not arrive until 2022, BMW screwed you out of the rebate. Who me, bitter? No....
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08-18-2022, 12:32 PM | #93 |
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Penfed is great but unfortunately they don't have the best rates at the moment. Hopefully they get more competitive in the next few months.
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08-18-2022, 12:41 PM | #94 |
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Yeah their rates seem to be worse than BMWFS.
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08-19-2022, 01:05 PM | #95 | |
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08-19-2022, 04:10 PM | #96 |
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This is exhausting shopping for the best rate. A lot of bait and switch out there. Rates pretty much suck, all the good ones had catches, had to work in that industry or have a family member associated. Worst case is still 3.49 BMWFS x 60 or 3.99 x 72.
Anybody ever use lightstream?
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08-22-2022, 01:12 PM | #97 | |
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I was quoted at 5.99% X 60 this morning at my BMW dealer in NJ, I have very good credit so its not due to credit issues. |
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08-22-2022, 03:36 PM | #98 |
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08-22-2022, 04:08 PM | #99 |
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I locked at the end of June, after car sat at the port for 30 days and before continued rate increases. CA still saying not to worry despite the delay in taking delivery.
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08-22-2022, 10:46 PM | #100 |
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Not posting rates is frustrating
I called around most dealers are quoting 5.29%. I wish they would be more transparent, they are using the excuse that rates are fluid; they aren't THAT fluid. Hoping rates drop around December or January as I should be taking delivery of my M4 around then.
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08-22-2022, 10:48 PM | #101 |
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Not used to these rates
My last rate was 0% in 2016, I'll never see that again.
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08-23-2022, 08:19 AM | #102 |
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Why are you calling dealers and not local CU's for best rates? Rates are likely not going down until the end of 2023, look for several .25 rate increases as the Fed Reserve meets up, Sep 20, Nov 1, Dec 13. Lock if you can before these dates.
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08-23-2022, 08:24 AM | #103 |
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Dealers can mark up and several of them are taking advantage of it.
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08-23-2022, 08:27 AM | #104 |
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If you don't have a rate locked in I would try to negotiate the best rate with the dealer asap and lock it in. The probability that they will honor it later during delivery is pretty high. Rates are not going down, that's not going to happen for some time.
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08-23-2022, 09:44 AM | #105 | |
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They also said that I could only finance the car through them or purchase the car all cash. I'm thinking that purchasing the car all cash and refinancing later makes a lot more sense. |
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08-23-2022, 10:16 AM | #106 | |
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08-23-2022, 10:29 AM | #107 |
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Walking in with cash is same as a cashiers check from CU but some dealers still try to enforce this on their customers.
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08-23-2022, 11:18 AM | #108 | |
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08-23-2022, 08:35 PM | #109 | ||
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09-02-2022, 02:44 PM | #110 | |
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That is what my dealer also quoted me and was approved for, they said in order for me to get any incentives (loyalty) I would have to finance through BMWFS... I was kinda surprised the rate was already that high, I will be shopping around in October/November to see if I can do better than that, we will see what the rates are by then because 5.49 is pretty freaking high for 48 mos.
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