03-02-2022, 05:40 PM | #1 |
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Auto Loan Rates. Post your Rate!
hey guys,
Seeing that BMW is jacking up rates I wanted to come together to see if we can start posting lower rates that you are aware of so people can shop around. Penfed 1.99% Need to open a account with them and have a membership Loan is good for 30 days from approval |
03-02-2022, 05:47 PM | #2 |
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University of Michigan Credit Union.
1.99% for 72 months and rates can be locked for 60 days. |
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03-02-2022, 06:25 PM | #3 |
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03-02-2022, 06:32 PM | #4 | |
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Quote:
https://www.umcu.org/Resources/Rates |
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03-02-2022, 06:38 PM | #5 | ||
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03-02-2022, 06:50 PM | #6 |
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03-02-2022, 08:04 PM | #7 | |
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YamaLink425.00 |
03-02-2022, 08:57 PM | #8 |
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Drives: 2022 BMW M4 Comp xDrive
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I'm doing Navy Federal
72 mon @ 2.29 % with no down payment. To be a member, you have to be active duty, retire military, veteran or family member of said individual. Navy Fed never did wrong by me and I've been with them with multiple auto loans. They are highly flexible and offer a 96 month loan, which I wouldn't suggest but if it works for you then hey. |
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k1ng13.50 |
03-02-2022, 10:26 PM | #9 | |
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Limegrntaln13473.50 |
03-03-2022, 01:33 AM | #10 |
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Service Credit Union - Same military rules apply to be a member as Navy Fed & USAA
I got 1.74 for 72 months.
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03-03-2022, 06:10 AM | #11 |
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Limegrntaln13473.50 |
03-03-2022, 07:48 AM | #12 | |
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DrePrime83.50 |
03-03-2022, 07:49 AM | #13 |
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following this.. Please post requirements as well if there are stipulation such as living in a certain area, military service, etc.
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Limegrntaln13473.50 |
03-29-2022, 11:53 AM | #15 |
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My advice would be to lock in rates now if you can. As fast as possible. Sucks that they went up but in a month or two these are going to look like great rates. Sometimes it pays to wait but not at this time. Rates are going one way for a while. Up!
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SpeedyATL1877.00 |
03-29-2022, 05:34 PM | #16 |
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I'm trying to decide between a 48 month loan at 1.85% with a Los Angeles based credit union or a 60 month loan at 2.19% with PenFed.
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03-29-2022, 05:43 PM | #17 |
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03-29-2022, 06:14 PM | #18 |
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Los Angeles Federal Credit Union. The 1.85% is promotional rate that may or may not be available still. Unlike PenFed, they only serve LA residents.
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03-30-2022, 09:41 AM | #19 | |
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I went with PenFed.
2.39% @72 months. Approval/check is good for 30 days & then you need to request a new check be sent for an additional 30 days. You will need to make your monthly payments regardless of cashing check or not. (boat I'm in). Quote:
https://g80.bimmerpost.com/forums/sh....php?t=1899184 |
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03-30-2022, 10:40 AM | #20 |
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Just to clarify: You got the loan approved when you had the VIN, and since you didn't take delivery within 30 days, you were able to request a new check and they effectively extended the lock by another 30 days? Can you keep doing that in perpetuity until the car is delivered, all while making monthly payments on it before the check is cashed? I'm skeptical...
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03-30-2022, 10:59 AM | #21 | |
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I was very surprised to hear this as well, I will update again once I know the re-issued check has been sent out, I will be calling them daily until it's sent because it expires on the 3rd ( I was a bit late in doing this all, thought it would be same day). It sounded weird for me as well, but this is what I was told by PenFeds loan officers. |
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NightWriter4844.00 |
03-30-2022, 01:35 PM | #22 |
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Just got off the phone, the check was disbursed today & is already in the mail to me. I asked if there was a limit of amount of checks I get re-issued, she stated she has never heard of a limit and knows of people getting multiple checks.
This is fantastic news, take advantage of the current APR & apply now. Once approved your check is sent out, give yourself 5-7 business days to call ahead of expiration date to get a new check going. This is the time it takes (only took me 2-3 days) for them to put a stop on your current check, once the stop is completed a new check is generated from that date with another 30 day extension. This is called "Loan Maintenance" and can be done. The only downside to the whole process is paying for a vehicle that you don't own yet, for me that was perfectly fine. Good luck! |
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