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What kind of BS is this?

BMWorNOTHING2010-08-18 07:22:23 +0000 #1
BavarianBeastTamer2010-08-18 07:27:51 +0000 #2
It's based on his credit score and debt to income ratio. If you don't like what they are saying you can always go to another dealership. But i won't help if he has a lot of bills or if his credit score is below 710. Or he can go here and secure 2.9% for himself.

BMWorNOTHING2010-08-18 07:35:02 +0000 #3
kyleb3502010-08-18 07:53:43 +0000 #4
Well if it's worth anything, I learned that you have some bargaining power on the interest rate. I had purchased my 335 used (don't know if that matters), but before going into the dealership, I went to the Lending Tree website to get some quotes on a loan in the amount I expected to finance. The best rate I got at the time was like 5.75%. This was before the ridiculously low rates that they're currently offering BTW.

Fast forward to me purchasing the car. The financing guy asked how I wanted to pay for the car. I mentioned the rate I got from XYZ bank to which he replied "wow, that's a good rate... If I could match that, would you go with us?" I said, "sure". Sure enough, I got approved.
hkyplaynazn2010-08-18 07:37:47 +0000 #5
Your statement is so vague "perfect credit". I got 0.9% for my e90 335 pruchased at $500 over invoice and financed with just my credit at age 23. BMW seems eager to give people the best rate possible your stealership was probably just a bunch of douchebags. They are probably just trying to make back whatever discounts they gave you on the car thru the interest. Try a different dealer or just tell that one to F* off and they might lower it just from that.
BavarianBeastTamer2010-08-18 08:27:20 +0000 #6

Originally Posted by BMWorNOTHING

Excellent credit, He has low debt so i'm sure there isn't a high debt to income ratio. Can't go to another dealership, long story...

Then follow the link and get 2.9%.

that makes your long story short. I'm sure they will have no problem with him using bmw financial services for a bmw. If so call bmwna. They'll set them straight.
BMWorNOTHING2010-08-18 09:20:27 +0000 #7
mike-y2010-08-18 08:03:20 +0000 #8
I thought they extended the 0.9% to 2007s also? I just got 0.9% on 36 months for a 06. My credit was 830 though.

just checked my dealer's website.. maybe the 0.9 was extended for new cars.
kgb16372010-08-18 09:02:38 +0000 #9
3 hours doing paperwork? WOW, I did the entire delivery in about an hour.
KKelly2010-08-18 10:08:59 +0000 #10
That's the rate I got for my '07 as well (turns out to be B of A). I checked with credit unions, etc. and they were not that much better or worth opening accounts given the loan amount. Just make a few extra payments early and minimize the interest expense. Bottom line, that rate is pretty much market rate at the moment on a used car. Lower ones are subsidized by the car companies.
mmm def2010-08-18 10:59:18 +0000 #11
their used rates suck.
svtfast2010-08-18 09:24:11 +0000 #12
I got 4.14% over 70m when I got my 335i loan. They said my EX score was 801 ( I pulled ECX that day my my FICO score was 785) so that was an auto enhanced FICO score.



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