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      11-19-2007, 11:25 PM   #1
childofbodom27
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Question BMW Financing Questio Help!

hey guys, if anyone knows about financing please i need your help. My sister is trying to get a car, a 3-series sedan and the vehicle costs about 23,000. The guy at the used car dealership said that with a co-signer, who she has, my dad. My dad has about 780+ credit score and he wants to put $5,000 down. The guy said with a 72 month payment plan it will be 12% interest rate. Doesnt that sound alittle too high? even with my dad co-signing for her. btw we live in CA if that helps with the current rates.
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      11-20-2007, 12:27 AM   #2
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the problem with cosigners is that even though they may have great credit, the primary borrowers credit still affects the decision. (kinda like if you average out an A+ and an F, you get a C.)

i would just buy it in your dads name if i were her.
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      11-20-2007, 12:33 AM   #3
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and when your buying used, the interest rates are higher. So yea, the 12% does sound about right.
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      11-20-2007, 12:48 AM   #4
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^^^^^^^yup, that too.
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      11-20-2007, 02:32 AM   #5
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yea used cars intrest rate is high high high sometimes u can lease a new bmw with the same price as certain used. either do it under ur dads name straight or get outside financing. btw what kinda payments they work u out to????????
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      11-20-2007, 02:53 AM   #6
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no way it should be more than 9% no way at all...
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      11-20-2007, 10:58 AM   #7
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did you post this twice?
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      11-20-2007, 11:48 AM   #8
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yea used cars intrest rate is high high high sometimes u can lease a new bmw with the same price as certain used. either do it under ur dads name straight or get outside financing. btw what kinda payments they work u out to????????
give that guy his deposit back or whatever.
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      11-20-2007, 11:49 AM   #9
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I take it this car isn't a 2004 CPO? BMW's giving 2.9% APR on those right now, you know.
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