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      10-08-2005, 06:31 PM   #1
guysfo
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BMWFS 60-month Rates

I am planning on financing a new 2006 330i via BMWFS in CA. Does anyone know the 60-month term rate that they're charging in the SF Bay Area for a person with a FISCO score of 800? Do they charge any surcharges or hidden fees for obtaining a loan through them?

Thanks for input.
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      10-08-2005, 06:40 PM   #2
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Quote:
Originally Posted by guysfo
I am planning on financing a new 2006 330i via BMWFS in CA. Does anyone know the 60-month term rate that they're charging in the SF Bay Area for a person with a FISCO score of 800? Do they charge any surcharges or hidden fees for obtaining a loan through them?

Thanks for input.
The dealer is allowed to mark up the rate, but you can expect anything from 6-8% for elite credit with BMWFS. BMWFS is probably not going to be the cheapest source of financing for a new 2006 BMW. They tend to put their emphasis on subsidized lease programs on new cars, and subsidized financing on pre-owned cars.
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      10-08-2005, 06:42 PM   #3
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I applied online with BMWFS and was approved for 60 mths at 6.4%. Although my credit score is not in the 800's but in the mid-high 700's.

In fact, I am getting ready to do the $$$$$ part of the deal next Sat., and told my dealer to pull up my loan reference # and try to get a better rate. Someone recently got like 5.3% but that's in NY state.

There should not be any loan fees.

I have to go with BMWFS because I am doing ED and it's more convenient. If you're taking delivery in CA then I'd try credit unions or CapitalOne.

Good luck!
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      10-08-2005, 06:48 PM   #4
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I've used BMWFS before on my cars and have nothing but good experience with them. However a local credit union was offering 5.1% interest on car loans so I got my 330i financed with them. I really liked BMWFS but their rates can't touch some of the offers out there right now.
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      10-08-2005, 06:57 PM   #5
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Quote:
Originally Posted by CALIF65GM
I applied online with BMWFS and was approved for 60 mths at 6.4%. Although my credit score is not in the 800's but in the mid-high 700's.

In fact, I am getting ready to do the $$$$$ part of the deal next Sat., and told my dealer to pull up my loan reference # and try to get a better rate. Someone recently got like 5.3% but that's in NY state.

There should not be any loan fees.

I have to go with BMWFS because I am doing ED and it's more convenient. If you're taking delivery in CA then I'd try credit unions or CapitalOne.

Good luck!

I'll tell you this... you won't get a rate in the low 5's from BMWFS. It just won't happen. I know the rate that the dealer gets from BMWFS, and it is higher than that.

If you want that rate, you need to go to another lender.
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      10-08-2005, 06:58 PM   #6
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Quote:
Originally Posted by CALIF65GM

I have to go with BMWFS because I am doing ED and it's more convenient. If you're taking delivery in CA then I'd try credit unions or CapitalOne.

Good luck!
I went to bankrate.com to pull up the best auto loans and capitalone had the best rates (5.35 for the term i'm looking for). Has anyone gone thru capital one? how are they? are they quick to approve loans? Are they really NO HASSLE?
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      10-08-2005, 11:03 PM   #7
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Quote:
Originally Posted by sarafil
I'll tell you this... you won't get a rate in the low 5's from BMWFS. It just won't happen. I know the rate that the dealer gets from BMWFS, and it is higher than that.

If you want that rate, you need to go to another lender.
Sarafil: Yes I know. I'll take whatever BMWFS lowest rate I can get for now. I don't want to go through the hassle with other lenders and explaining the whole ED process to them. I plan to re-finance with the credit union as soon as the car arrives in CA.
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      10-08-2005, 11:05 PM   #8
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Quote:
Originally Posted by natalia
I went to bankrate.com to pull up the best auto loans and capitalone had the best rates (5.35 for the term i'm looking for). Has anyone gone thru capital one? how are they? are they quick to approve loans? Are they really NO HASSLE?
Some other members on bimmerfest.com have used CapitalOne and said that it was pretty good. Although, I think someone was turned down by CapitalOne earlier this week on this forum.
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      10-09-2005, 02:51 AM   #9
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Here in Boston Mass...BMWFS gave me 6.99%, but I got 5.35% @ Wells Fargo.
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      10-11-2005, 12:01 AM   #10
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Quote:
Originally Posted by sarafil
I know the rate that the dealer gets from BMWFS, and it is higher than that.
What is that rate?
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      10-11-2005, 12:08 AM   #11
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ED doesn't require BMW financing

I'm not picking up my car until March on ED (my father is getting a 7-series then..long story) and my bank said they had no problem doing the loan. THe dealer also said it was fine. I'm in MD though. If I were you I would be searching for a better rate.
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      10-11-2005, 02:59 PM   #12
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Quote:
Originally Posted by natalia
I went to bankrate.com to pull up the best auto loans and capitalone had the best rates (5.35 for the term i'm looking for). Has anyone gone thru capital one? how are they? are they quick to approve loans? Are they really NO HASSLE?
I applied withe Capital One last Thrusday in the morning after waking up, took a shower, and when I got out I was already approved (in 15 mins). By early afternoon, I received a phonecall with all the details and 24 hours later I had the blank check for up to $40K in my hand. They were very fast and convenient. Don't worry about not getting approved. I am nowhere near an 800 and I got approved.
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      10-12-2005, 08:18 AM   #13
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Quote:
Originally Posted by zimbofk
I applied withe Capital One last Thrusday in the morning after waking up, took a shower, and when I got out I was already approved (in 15 mins). By early afternoon, I received a phonecall with all the details and 24 hours later I had the blank check for up to $40K in my hand. They were very fast and convenient. Don't worry about not getting approved. I am nowhere near an 800 and I got approved.
If you don't mind, may I ask what rate you received from them, and for what term?
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      10-14-2005, 06:31 PM   #14
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5.1%. Houston. Credit score 770+. 27 years old. married. Citifinancial arranged through dealer. 20 minutes. September 05.
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      10-16-2005, 12:44 PM   #15
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Quote:
Originally Posted by zimbofk
I applied withe Capital One last Thrusday in the morning after waking up, took a shower, and when I got out I was already approved (in 15 mins). By early afternoon, I received a phonecall with all the details and 24 hours later I had the blank check for up to $40K in my hand. They were very fast and convenient. Don't worry about not getting approved. I am nowhere near an 800 and I got approved.
Did you do ED.....CapOne allow ED???
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      10-17-2005, 02:36 PM   #16
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Quote:
Originally Posted by ska
Did you do ED.....CapOne allow ED???
Nope. Didn't do ED. I'm doing PCD.
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      10-23-2005, 10:33 PM   #17
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when i leased my 325i in oct 2003 i got a 4.19% interest on my BMW i have cred of 760
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      10-25-2005, 08:00 PM   #18
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Quote:
Originally Posted by E90RWC
when i leased my 325i in oct 2003 i got a 4.19% interest on my BMW i have cred of 760
1. Rates have changed alot since October 2003. Your rate from 2003 isn't a good indicator of what rates are right now.

2. Lease rates are different than retail rates. Also, so long as BMWFS approves you, you get whatever lease rate they have at that time-- everyone gets the same rate. Retail rates are tiered based on credit score.
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