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Rates for cars loans and mortgages are different and take into account multiple factors. This also adds on top that used car loans are also higher than new car loans. Based on your link, with the discount rate being 5% right now, the prime rate should be at minimum 8%.
Last I checked in the beginning of December 2022, the lowest rate on a new BMW from BMWFS was 4.99%. If you tack on the rate hikes from December 2022 to March 2023 (up 75bps) and the inherent higher rates for used cars, it is not unreasonable to see a 7-8% rate even for a prime borrower. Would I take the deal for 8% today? Absolutely not. But considering the market environment it is not a complete ripoff. Keep in mind that it is a 72 month loan so that will also command a higher rate.
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