Loan Rates

scLA · 10-02-2022, 04:00 PM

Just wondering if anyone has come across any really good auto loan rates for a national bank / credit union or one available for SoCal residents.

My i4 is going to be built next week so I figure if I can find something with a 90-day rate lock I should be able to take delivery within that timeframe

rmklaw · 10-02-2022, 05:42 PM

The rate I got from BMWFS was better than anyone else. However, you have to negotiate and push to get it. The dealer will start at a high rate and you need to get it down. They have lots of room to play.

scLA · 10-02-2022, 05:44 PM

Quote:

Originally Posted by rmklaw

The rate I got from BMWFS was better than anyone else. However, you have to negotiate and push to get it. The dealer will start at a high rate and you need to get it down. They have lots of room to play.

I'm hearing they're at almost 4.5% now… there are some credit unions near me under 3% still but only 60-day rate lock

rmklaw · 10-02-2022, 11:35 PM

It depends on your FICO score. Don't rely on the first offer. They need to pull a credit report to give you the best rate. Shop around and compare.

falconey · 10-03-2022, 11:41 AM

Bmw and most major banks will be 4.5% and up. Highly advise looking into credit unions. I was able to get a 2.51% rate going with a credit union.

sizeej · 10-05-2022, 07:58 AM

Quote:

Originally Posted by rmklaw

The rate I got from BMWFS was better than anyone else. However, you have to negotiate and push to get it. The dealer will start at a high rate and you need to get it down. They have lots of room to play.

Mind me asking how low you were able to push them? I'd like to go in with a offer from a Credit union and push them down, that way I have leverage. I also have over a 800Credit score.

rmklaw · 10-05-2022, 03:36 PM

2.9

Stealth_BMW · 10-05-2022, 04:16 PM

Quote:

Originally Posted by scLA

Just wondering if anyone has come across any really good auto loan rates for a national bank / credit union or one available for SoCal residents.

My i4 is going to be built next week so I figure if I can find something with a 90-day rate lock I should be able to take delivery within that timeframe

Look into NFCU or SECU, so far these two have the lowest I've seen. I'm expecting my IX end of November.

cruzer666 · 10-05-2022, 06:41 PM

Like others have said about 2.5% for 60 months, and take 0.25% off for automatic payments… about 2.24%

freshxdough · 10-05-2022, 09:05 PM

Schools First has low rates. 3.24% for new car and 3.49% for used. I'm a BMW Employee and I got better rates at Schools First than I did directly through my dealer as an employee. Just bought my 2020 M40i with them off lease. Lucky for me I was able to special order before Covid.

Schools first is not open to just anyone though but if you can get in, great rates You must have someone direct family employed by a school.

scLA · 10-05-2022, 09:52 PM

Quote:

Originally Posted by cruzer666

Like others have said about 2.5% for 60 months, and take 0.25% off for automatic payments… about 2.24%

Where are you getting that rate?

cruzer666 · 10-05-2022, 10:02 PM

Quote:

Originally Posted by scLA

Quote:

Originally Posted by cruzer666

Like others have said about 2.5% for 60 months, and take 0.25% off for automatic payments… about 2.24%

Where are you getting that rate?

Local credit union, available to residents of the city only. Rate is 2.24% for me. I didn't try to apply yet so I don't have it confirmed.

Look for local credit unions that serve your municipality. Typically that's where you'll get low rates like this.

WER2XU · 10-06-2022, 12:16 PM

These were at 1.9 just a few weeks ago....now 2.49
https://www.massbaycu.org/products/auto-refi/

Savoire fair · 10-06-2022, 02:50 PM

Quote:

Originally Posted by WER2XU

These were at 1.9 just a few weeks ago....now 2.49
https://www.massbaycu.org/products/auto-refi/

You have to live in Massachusetts in order to get this rate.

Ultbruin · 10-07-2022, 04:30 PM

Quote:

Originally Posted by cruzer666

Local credit union, available to residents of the city only. Rate is 2.24% for me. I didn't try to apply yet so I don't have it confirmed.

Look for local credit unions that serve your municipality. Typically that's where you'll get low rates like this.

Anything in the San Gabriel Valley area for rates this low from a credit union?

noushy · 10-07-2022, 05:15 PM

Managed to get 1.99 with a credit union before all these fed hikes. Sheesh

Noushy

scLA · 10-07-2022, 05:27 PM

Quote:

Originally Posted by Ultbruin

Quote:

Originally Posted by cruzer666

Local credit union, available to residents of the city only. Rate is 2.24% for me. I didn't try to apply yet so I don't have it confirmed.

Look for local credit unions that serve your municipality. Typically that's where you'll get low rates like this.

Anything in the San Gabriel Valley area for rates this low from a credit union?

Pasadena Federal Credit Union is 2.99% currently. Only do a 60-day rate lock though.

cruzer666 · 10-07-2022, 07:20 PM

If you guys are in SoCal, why are you still purchasing ? No more 7500 credit, all that sales tax. Even with bad lease rates it still makes more sense to lease.

Ultbruin · 10-08-2022, 12:28 AM

Quote:

Originally Posted by scLA

Pasadena Federal Credit Union is 2.99% currently. Only do a 60-day rate lock though.

Thanks! I'll look into it.

paulbazoV2 · 10-08-2022, 11:22 AM

Quote:

Originally Posted by cruzer666

If you guys are in SoCal, why are you still purchasing ? No more 7500 credit, all that sales tax. Even with bad lease rates it still makes more sense to lease.

what are the current lease rates? I will run a comparison between buying and leasing without tax credit, using current finance rates.

cruzer666 · 10-09-2022, 11:27 AM

Quote:

Originally Posted by paulbazoV2

Quote:

Originally Posted by cruzer666

If you guys are in SoCal, why are you still purchasing ? No more 7500 credit, all that sales tax. Even with bad lease rates it still makes more sense to lease.

what are the current lease rates? I will run a comparison between buying and leasing without tax credit, using current finance rates.

I don't know, I'm expecting mine next month so I'll ask for updated lease rates at the beginning of November.

ramkbmw · 10-10-2022, 01:19 PM

Quote:

Originally Posted by paulbazoV2

what are the current lease rates? I will run a comparison between buying and leasing without tax credit, using current finance rates.

I got a lease quote from my dealer which I thought was much worse than outright buying, even without the tax credit and such. This is what I was offered:

$10,000 down, $1292.70 per month for 36 months, Residual $38660.

This is for an i4 M50 with retail price around 73K. Let me know if you need more details. This is in So Cal.

10-02-2022, 04:00 PM	#1
scLA Second Lieutenant 187 Rep 254 Posts Drives: 2022 G05 Join Date: Apr 2022 Location: Los Angeles iTrader: (0)	Loan Rates Just wondering if anyone has come across any really good auto loan rates for a national bank / credit union or one available for SoCal residents. My i4 is going to be built next week so I figure if I can find something with a 90-day rate lock I should be able to take delivery within that timeframe
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10-02-2022, 05:42 PM	#2
rmklaw Private 15 Rep 57 Posts Drives: 2022 BMW i4 eDrive 40 M Sport Join Date: Feb 2010 Location: Temecula, CA iTrader: (0)	The rate I got from BMWFS was better than anyone else. However, you have to negotiate and push to get it. The dealer will start at a high rate and you need to get it down. They have lots of room to play. __________________ Richard, Temecula CA 2022 i4 eDrive40 M Sport Package, Tanzanite Blue II Metallic with Tacora Red Vernasca Leather, Premium, Parking Assistant Plus, Dynamic Handling, Shadowline, packages, HUD, Ion Adaptive LED w/Laserlight, Iconic Sounds.
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10-02-2022, 11:35 PM	#4
rmklaw Private 15 Rep 57 Posts Drives: 2022 BMW i4 eDrive 40 M Sport Join Date: Feb 2010 Location: Temecula, CA iTrader: (0)	It depends on your FICO score. Don't rely on the first offer. They need to pull a credit report to give you the best rate. Shop around and compare. __________________ Richard, Temecula CA 2022 i4 eDrive40 M Sport Package, Tanzanite Blue II Metallic with Tacora Red Vernasca Leather, Premium, Parking Assistant Plus, Dynamic Handling, Shadowline, packages, HUD, Ion Adaptive LED w/Laserlight, Iconic Sounds.
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10-03-2022, 11:41 AM	#5
falconey Captain 483 Rep 681 Posts Drives: 18 f80cs, 21 f97 Join Date: Mar 2013 Location: atlanta iTrader: (0)	Bmw and most major banks will be 4.5% and up. Highly advise looking into credit unions. I was able to get a 2.51% rate going with a credit union.
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10-05-2022, 03:36 PM	#7
rmklaw Private 15 Rep 57 Posts Drives: 2022 BMW i4 eDrive 40 M Sport Join Date: Feb 2010 Location: Temecula, CA iTrader: (0)	2.9 __________________ Richard, Temecula CA 2022 i4 eDrive40 M Sport Package, Tanzanite Blue II Metallic with Tacora Red Vernasca Leather, Premium, Parking Assistant Plus, Dynamic Handling, Shadowline, packages, HUD, Ion Adaptive LED w/Laserlight, Iconic Sounds.
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10-05-2022, 06:41 PM	#9
cruzer666 Major 1237 Rep 1,203 Posts Drives: 2023 BMW i4 M50 Join Date: Nov 2019 Location: Los Angeles, California iTrader: (0) Garage List 2023 BMW i4 M50 [10.00]	Like others have said about 2.5% for 60 months, and take 0.25% off for automatic payments… about 2.24%
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10-05-2022, 09:05 PM	#10
freshxdough BMW Elite Master Tech \| HV Gen 5 \| HV Specialist 3528 Rep 4,216 Posts Drives: 2024 iX 50 \| 2020 X3 M40i Join Date: Mar 2017 Location: Orange County iTrader: (0)	Schools First has low rates. 3.24% for new car and 3.49% for used. I'm a BMW Employee and I got better rates at Schools First than I did directly through my dealer as an employee. Just bought my 2020 M40i with them off lease. Lucky for me I was able to special order before Covid. Schools first is not open to just anyone though but if you can get in, great rates You must have someone direct family employed by a school.
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10-06-2022, 12:16 PM	#13
WER2XU Private First Class 116 Rep 118 Posts Drives: Cars & Bikes Join Date: May 2022 Location: Boston iTrader: (0)	These were at 1.9 just a few weeks ago....now 2.49 https://www.massbaycu.org/products/auto-refi/
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10-07-2022, 05:15 PM	#16
noushy ///M Fan 1657 Rep 1,490 Posts Drives: M8 Comp, X5M Comp, iX M60 Join Date: Jul 2012 Location: Orchard Lake, Mi iTrader: (1)	Managed to get 1.99 with a credit union before all these fed hikes. Sheesh Noushy __________________ 2019 BMW X5 50i Mineral White/Tartufo all options including M Sport 2022 Porsche 911 C4S Silver/Brown 2023 BMW iX M60 Black Sapphire/Amido, Titanium Bronze trim/22 2023 Audi RS6 Avant Daytona Gray/Black 2024 BMW X5M Comp Brooklyn Gray/Taruma Brown, Titanium Exhaust on order
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10-07-2022, 07:20 PM	#18
cruzer666 Major 1237 Rep 1,203 Posts Drives: 2023 BMW i4 M50 Join Date: Nov 2019 Location: Los Angeles, California iTrader: (0) Garage List 2023 BMW i4 M50 [10.00]	If you guys are in SoCal, why are you still purchasing ? No more 7500 credit, all that sales tax. Even with bad lease rates it still makes more sense to lease.
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