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BMW 3-Series (E90 E92) Forum > BMW E90/E92/E93 3-series General Forums > New & Preowned BMW Ordering / Pricing / Tracking Information Forum (including European Delivery) > What is the best non-manufacturer interest rate in the US?



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      05-09-2005, 12:34 AM   #1
pharding
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What is the best non-manufacturer interest rate in the US?

The best that I found is 4.25% for 60 months at the Pentagon Federal Employees Credit Union. https://www.penfed.org/index.asp
In the fine print there is a back door so that anyone can join.
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      05-09-2005, 01:34 AM   #2
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Great post. I can tell you my experience in the credit market recently has been that the major retail banks are easily in the high Fives (at best). At automobile manufacturers, I've seen them do 4.75% - 5.50% for people with great credit.

For car loans, credit unions are usually you're best bet, but membership requirements usually preclude the majority of people from getting a car loan from one.
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      05-09-2005, 03:37 AM   #3
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I got 4.25% for 48 months from the Campuscu credit union in gainesville FL. (www.campuscu.com)
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      05-09-2005, 03:49 AM   #4
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I got 4.75 for 60 months at Navy Federal Credit Union.
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      05-09-2005, 08:12 PM   #5
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Quote:
Originally Posted by pharding
The best that I found is 4.25% for 60 months at the Pentagon Federal Employees Credit Union. https://www.penfed.org/index.asp
In the fine print there is a back door so that anyone can join.

I can get 4.5 % upto 84 months at GaPac federal CU in Washington. It's now risk based approval, so if you have good credit you can get the 4.5% on any number of months financed. By far the best I've found......$35k financed works out to be about $500 a month
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      05-09-2005, 10:17 PM   #6
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Quote:
Originally Posted by soon2be90
I can get 4.5 % upto 84 months at GaPac federal CU in Washington. It's now risk based approval, so if you have good credit you can get the 4.5% on any number of months financed. By far the best I've found......$35k financed works out to be about $500 a month

For anyone who is interested: GaPac Federal Employees Credit Union is/was actually tied to Georgia Pacific. But now I think all credit unions will take the general public as members. I've never worked at GP but I heard they have the best interest rates and joined with no problem. I don't know if you have to live in Washington St. or if any other branches exist? I'm currently paying a little over 5% on my 01' 540i.
Their web address is www.gapacefcu.com and the local phone # is 360-671-5960.
I hope this helps anyone looking for great financing.
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      05-10-2005, 12:11 AM   #7
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I hope BMWFS is reading this. Their rates are TOO HIGH!!
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      05-10-2005, 01:24 AM   #8
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4.25% from PenFed for 60 months
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      05-11-2005, 10:03 PM   #9
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Randolph-Brooks Federal Credit Union out of San Antonio, TX offers 4.0 for upto 60 mos and 4.5 for 72 mos. 5.5 for up to 84 mos! You can get up to 0.5% off if you opt for the GAp and vehicle protection plans.

www.rbfcu.org
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      05-12-2005, 07:01 AM   #10
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      05-12-2005, 07:06 AM   #11
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Anybody on here heard of the College Graduate Program from BMW Financial Services? My CA told me about it and suggested I apply with the possibility that I get an even better rate than I would have with a cosigner.

I've applied and am waiting to hear back. Here is what I'm talking about...

College Grad Program
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      05-12-2005, 07:17 AM   #12
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Armen, the College Grad Program is good stuff. I had a friend who had decent credit apply using it and she got a crazy low rate on her Audi A4 (this is back when rates were like 3-4%), but as long as you have decent credit you should be approved for it and it will reduce your rates. For those of you with less than decent credit, this program may be the difference between being approved and denied financing for your car.

BTW, most car manufacturers have some sort of college grad program now.
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      05-12-2005, 08:16 AM   #13
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BMW College Grad program

What if any break do you get on the interest rate? What is the rate? Thanks.

By the way this board is a fantastic source of information. If this thread were started on RF, one could expect responses like the following.
1. The six year old loan rate, the so-called classic, is better than the new rate, even though the new rate is lower.
2. The MB loan rate is better than the BMW rate.
3. Objective posts by actual purchasers of the loan would have brought on an endless tirade of ridicule.
4. The last thing would have been posted on RF would have been an objective answer to a simple question.
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      05-12-2005, 08:40 AM   #14
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Best finance rate ever

With Florida Telco in Jacksonville, FL - 3.99% for 60 mos.
I get additional 1/4 percent off as a long-time member, etc... so my final rate is 3.74%. :rocks: Check http://www.FloridaTelco.org
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      05-12-2005, 07:40 PM   #15
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4.59% for 60months from http://www.aplusfcu.org/
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      05-12-2005, 10:01 PM   #16
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how do I join credit unions above????
I don't meet any of eligibilities.................
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      05-13-2005, 09:12 AM   #17
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Credit unions are local deal. If you're live in Jacksonville, FL area you can join since this is a community credit union. All you have to do is to live or work in Duval, Clay, Nassau, Baker or St. Johns counties and you'll meet the requirements.

Anyhow, this is a suggestion. Check your local credit unions - there might be something that will work for you, and often they have very competitive rates.
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      05-13-2005, 09:31 AM   #18
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3.69 at Air Force Federal Credit union

http://airforcefcu.com/loanrates.htm

They are the ones financing my car
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      05-13-2005, 10:25 AM   #19
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Bank of America offered me 4.5% for 60 months. I think this is the lowest non-credit union rate that I've seen. The search continues...
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      05-13-2005, 11:51 AM   #20
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Quote:
Originally Posted by ldpantoja
3.69 at Air Force Federal Credit union

http://airforcefcu.com/loanrates.htm

They are the ones financing my car
Did you see this though: 3.69 is> *With purchase of Auto Protection Package.


Otherwise rate is 4.19%
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      05-13-2005, 05:03 PM   #21
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Quote:
Originally Posted by AskNiko
Bank of America offered me 4.5% for 60 months. I think this is the lowest non-credit union rate that I've seen. The search continues...
Wow that's a really low rate from a bank like BofA. My family's been banking with them for business/personal for years and our adviser at the bank told us that their rates would be awful, like 7% or higher, and that we should look elsewhere.

Was this any kind of special program?
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      05-14-2005, 01:16 AM   #22
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Quote:
Originally Posted by Armen52
Was this any kind of special program?
Armen,
I've been banking with BofA for a long time. I financed my first "decent" car with them, a 1989 Acura Legend Coupe. I haven't financed a car with them since and I'm guessing they offered me a deal to get my business back.

Looking around, I saw an HSBC add that offered 3.89%. When I called and went through the application process, the lowest they offered was 5.25% .

What I've re-learned in the process is that there are all kinds of gimmicks out there, ie. you have to get this and that to get this rate. Good luck.
Niko
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