[DealBMW]

Originally Posted by jmikhail490

M3 comp, Frozen white, red interior Carbon buckets, exterior cf package, laser lights, exec pack

98K msrp wants 5k over

what to do what to do

Go for it

[///M ARMY]

I didnt know rates were getting this bad..glad got mine last year in september

[BA///MA]

Originally Posted by ///M ARMY

I didnt know rates were getting this bad..glad got mine last year in september

NFCU is still in the ~2.5% range, so it's not terrible, but they're shooting up like crazy with the FED raising their rates. BMW is advertising 3.5% right now, but I wouldn't be surprised to see that go to at least 3.99% next month or sooner.

[///M ARMY]

Originally Posted by BA///MA

NFCU is still in the ~2.5% range, so it's not terrible, but they're shooting up like crazy with the FED raising their rates. BMW is advertising 3.5% right now, but I wouldn't be surprised to see that go to at least 3.99% next month or sooner.

When I got mine last year I got 1.9 interest rate. Crazy how it goes up

[Letterkenny]

Originally Posted by ///M ARMY

When I got mine last year I got 1.9 interest rate. Crazy how it goes up

I just wish leasing still made sense here. Really trying to decide whether to buy out my M340 or go with a M3 comp. Sensible thing is buy out my current car but the heart has always wanted a M3!

[Andrae26]

Originally Posted by ///M ARMY

I didnt know rates were getting this bad..glad got mine last year in september

Fed kept rates way too low for too long. My puts paid on SPY and QQQ and are still paying. It was coming and I was waiting for it. I day trade for a living. NFCU is still low considering

[Andrae26]

Originally Posted by ///M ARMY

When I got mine last year I got 1.9 interest rate. Crazy how it goes up

It's not that crazy if you've been keeping up with everything. It had to happen

[BA///MA]

Ended up with 2.79% from NFCU, even with a nearly perfect credit score. I'll take that over the 4.5% my dealer was offering though.

[khalua80]

Originally Posted by BA///MA

Ended up with 2.79% from NFCU, even with a nearly perfect credit score. I'll take that over the 4.5% my dealer was offering though.

Yup that was the rate I got from them last week too 2.79%. This is my 5th auto loan through them. If I was still Active duty it would have been only 1.79%

[h6mid]

I had a question regarding ordering. Do we have to do the finance/lease aspect when ordering or when the car arrives at the dealership? The reason I ask this is that I recently moved to US and it's going to take sometime to get SSN and all the employment paperwork. I don't wanna wait too long before ordering the car.

[vj123]

Originally Posted by h6mid

I had a question regarding ordering. Do we have to do the finance/lease aspect when ordering or when the car arrives at the dealership? The reason I ask this is that I recently moved to US and it's going to take sometime to get SSN and all the employment paperwork. I don't wanna wait too long before ordering the car.

Finance application can be submitted once you get closed to delivery.

Note that BMW finance rates can be locked for 90 days if you are in east coast and 120 days if you are in west coast.

['Cane]

Originally Posted by vj123

Finance application can be submitted once you get closed to delivery.

Note that BMW finance rates can be locked for 90 days if you are in east coast and 120 days if you are in west coast.

Many dealerships require credit application at the order phase, they want to see if you're qualified to buy the car.

[vj123]

Originally Posted by 'Cane

Many dealerships require credit application at the order phase, they want to see if you're qualified to buy the car.

Most dealers whom i contacted were willing to do the credit application when it gets closer to delivery because of a long lead times in the current market. I didn't have prior buying history with most of them.

[DealBMW]

Originally Posted by vj123

Most dealers whom i contacted were willing to do the credit application when it gets closer to delivery because of a long lead times in the current market. I didn't have prior buying history with most of them.

We require one also. That also helps to keep your rates/rebates locked in and without a change. East Coast dealers have the ability to lock the rates in for 120 days as well now.
You could always say that you are paying cash/outside financing upon placing your order Just keep in mind that you will need proper documentation in place before you pick your car up.
PS I hope your build is somewhat "normal" in case the deal falls through and your dealer can resell the car at no loss..

I'm sorry, I meant to quote the OP

[h6mid]

Originally Posted by DealBMW

We require one also. That also helps to keep your rates/rebates locked in and without a change. East Coast dealers have the ability to lock the rates in for 120 days as well now.
You could always say that you are paying cash/outside financing upon placing your order Just keep in mind that you will need proper documentation in place before you pick your car up.
PS I hope your build is somewhat "normal" in case the deal falls through and your dealer can resell the car at no loss..

I'm sorry, I meant to quote the OP

Originally Posted by vj123

Finance application can be submitted once you get closed to delivery.

Note that BMW finance rates can be locked for 90 days if you are in east coast and 120 days if you are in west coast.

Originally Posted by 'Cane

Many dealerships require credit application at the order phase, they want to see if you're qualified to buy the car.

Originally Posted by vj123

Most dealers whom i contacted were willing to do the credit application when it gets closer to delivery because of a long lead times in the current market. I didn't have prior buying history with most of them.

Originally Posted by DealBMW

We require one also. That also helps to keep your rates/rebates locked in and without a change. East Coast dealers have the ability to lock the rates in for 120 days as well now.
You could always say that you are paying cash/outside financing upon placing your order Just keep in mind that you will need proper documentation in place before you pick your car up.
PS I hope your build is somewhat "normal" in case the deal falls through and your dealer can resell the car at no loss..

I'm sorry, I meant to quote the OP

I'm glad to hear that some dealers accept finance application closer to delivery. I contacted two dealers in NYC and they both told me they require that when placing an order. One told me they charge 5-10k extra over msrp.

Great idea though! I can just tell them I'm thinking of outside financing or paying cash and place the order. Then deal with financing when I'm closer to delivery date. Specially because the financing rate that they quoted was 4.5% which is already high, so no need to lock it at this point 😁

Thank you guys for the reply! Very informative. Also if you happen to have a trusted dealer you worked with, I would really appreciate a referral 🙏 I definitely don't want to pay over msrp…

[vj123]

Originally Posted by h6mid

Also if you happen to have a trusted dealer you worked with, I would really appreciate a referral 🙏 I definitely don't want to pay over msrp…

Most MSRP dealers have a long waitlist. If you start calling dealers, you might get lucky and find someone with a shorter waitlist.

[gs1403]

Originally Posted by h6mid

I'm glad to hear that some dealers accept finance application closer to delivery. I contacted two dealers in NYC and they both told me they require that when placing an order. One told me they charge 5-10k extra over msrp.

Great idea though! I can just tell them I'm thinking of outside financing or paying cash and place the order. Then deal with financing when I'm closer to delivery date. Specially because the financing rate that they quoted was 4.5% which is already high, so no need to lock it at this point 😁

Thank you guys for the reply! Very informative. Also if you happen to have a trusted dealer you worked with, I would really appreciate a referral 🙏 I definitely don't want to pay over msrp…

Where are you in NYC and which to dealers did you speak to?

[kjx]

Originally Posted by h6mid

I had a question regarding ordering. Do we have to do the finance/lease aspect when ordering or when the car arrives at the dealership? The reason I ask this is that I recently moved to US and it's going to take sometime to get SSN and all the employment paperwork. I don't wanna wait too long before ordering the car.

Most people have trouble getting credit with a new SSN. Even things like the higher end credit cards. You need to be prepared to deal with not being extended credit to buy a more expensive car if your credit history is very short and not "seasoned" enough with responsible use of credit.

I'd suggest getting a subscription to Experian 3-bureau credit reporting as soon as you have a SSN to know what your credit score looks like and what happens with everything you do (or what you may do).

Dealerships generally do a initial credit check when you place an order and just that check acts as a minor negative mark on your credit. And you'd likely get hit with a second one just as you go through actual financing.

Anyway, there are educational resources out there - make use of them to be aware before you get here.

[KillerExcessive]

Back on the market looking to order an M4. Can anyone share any solid, dependable contacts in the PNW region?

[h6mid]

Originally Posted by gs1403

Where are you in NYC and which to dealers did you speak to?

Talked to brooklyn and morristown BMW. Any dealerships you suggest?

[h6mid]

Originally Posted by kjx

Most people have trouble getting credit with a new SSN. Even things like the higher end credit cards. You need to be prepared to deal with not being extended credit to buy a more expensive car if your credit history is very short and not "seasoned" enough with responsible use of credit.

I'd suggest getting a subscription to Experian 3-bureau credit reporting as soon as you have a SSN to know what your credit score looks like and what happens with everything you do (or what you may do).

Dealerships generally do a initial credit check when you place an order and just that check acts as a minor negative mark on your credit. And you'd likely get hit with a second one just as you go through actual financing.

Anyway, there are educational resources out there - make use of them to be aware before you get here.

Will definitely do that! Thank you for the tips! I will have a cosigner just in case they don't like my credit score 😅

[Letterkenny]

Any California (socal is where I am), Arizona, Nevada, New Mexico, Idaho, Washington, etc dealers recommended that I could be PM’ed where we there was luck with MSRP deals?