[jpw172]

When I asked the dealership what the current interest rate was for BMW they said the best right now was 5.99%, however, I’ve heard others say 4.99%. Anyone have any recent experience what is being offered?

[LDT]

The buy rate is 4.99. Dealers often mark it up by 1%. When I ordered I insisted on the buy rate and was able to lock it by submitting a credit app. Mine is a week 32 production.

[jpw172]

Originally Posted by LDT

The buy rate is 4.99. Dealers often mark it up by 1%. When I ordered I insisted on the buy rate and was able to lock it by submitting a credit app. Mine is a week 32 production.

Do I just tell them I want the buy rate?

I know a local credit union also has a 4.33% APR as well - other places might do better as well. I asked if when they do the credit app if they can check other places to see if they have lower APR options as well and they said yes but generally BMW is competitive.

[TurtleBoy]

Originally Posted by jpw172

Do I just tell them I want the buy rate?

I know a local credit union also has a 4.33% APR as well - other places might do better as well. I asked if when they do the credit app if they can check other places to see if they have lower APR options as well and they said yes but generally BMW is competitive.

Don't ask, tell them you want the 4.99% rate from BMW. Many dealers will not remove the 1% markup but it never hurts to tell them that you want it removed.

[LDT]

Originally Posted by jpw172

Do I just tell them I want the buy rate?

I know a local credit union also has a 4.33% APR as well - other places might do better as well. I asked if when they do the credit app if they can check other places to see if they have lower APR options as well and they said yes but generally BMW is competitive.

Your credit union at 4.33 is the best I've seen. Navy Federal CU has 4.54 if you qualify for membership.

[jpw172]

Originally Posted by LDT

Your credit union at 4.33 is the best I've seen. Navy Federal CU has 4.54 if you qualify for membership.

Yeah. I see Audi is at 2.99%, but I’m coming from Audi. Really hate that they aren’t keeping up in interior design and some of the exteriors are awful looking.

[jpw172]

Originally Posted by TurtleBoy

Don't ask, tell them you want the 4.99% rate from BMW. Many dealers will not remove the 1% markup but it never hurts to tell them that you want it removed.

Did what you said and they gave me the 4.99% - if I decide to go the finance route with BMWFS. Thanks!

[e46e92love]

I love these forums today more than ever because it gave me the ammo to walk away from a brand new X5 with a clean conscious. Passport BMW in MD, was hooked up with me by a wholesaler who was awesome. The deal they offered us was 8% off MSRP AND 4.99/60 after running our credit and finances.

The order got delayed by them which was fine and then we chose performance delivery. I bought my plane tix to Soartneburg last Tuesday, and was to be on vacation this week and fly out on Monday Oct 2 to pick up my 2024 X540i msport. Sales person Brandon was awesome thru the whole process but despite finance being supposed to call me last Thursday, they never did. Nor Fri. Nor sat. Brandon knew of my vacation and explained to his manager the need to get this wrapped up before I left so they could FedEx me the paperwork (I live in PA) so they can get it back. Never happaned.

Call finally comes yesterday in middle of my vacation and all I get is lies about how they have to charge us 6.99 now. They then come down to 5.99 but tell me it’s because I can only be locked in for 60 days and the rates in July went up. Scum bag liars. I just let them know it’s the deal we agreed to or no deal and I will be coming after them for the deposit and my plane fair. I’m an attorney so filing will be free and I would rather spend 5k of my time over 1k despite plus air fare on the principal of it. You agree to a deal, that’s the deal.

I run a company and have always said it’s not tough to be honest and fair. We do it all the time with our customers and stick to our agreements. I hate to use this word, but are their any dealers left that aren’t scumbags?

Cheers,
e46e92

[LDT]

e46e92love . “Honest and fair” do not go in the same sentence with the car business. FWIW, the August buy rate was 4.99. It went to 5.29 in September. Some dealers mark it up 1%. Keep in mind that 8% off MSRP is very good. Furthermore the dealer could care less as he’s not making much on the car and it won’t be serviced there. He probably has another buyer in the wings. All of which is one of the pitfalls of using a broker. Being a lawyer I hope you got your deal in writing up front. Assuming you want the car focus on making it work rather than invoking the lawyer mentality (with all due respect). That’ll just piss off everyone.
It’s easy to join Navy federal credit union and their rates are the best I’ve seen.
Best of luck.

[cdhowell]

Originally Posted by e46e92love

I love these forums today more than ever because it gave me the ammo to walk away from a brand new X5 with a clean conscious. Passport BMW in MD, was hooked up with me by a wholesaler who was awesome. The deal they offered us was 8% off MSRP AND 4.99/60 after running our credit and finances.

The order got delayed by them which was fine and then we chose performance delivery. I bought my plane tix to Soartneburg last Tuesday, and was to be on vacation this week and fly out on Monday Oct 2 to pick up my 2024 X540i msport. Sales person Brandon was awesome thru the whole process but despite finance being supposed to call me last Thursday, they never did. Nor Fri. Nor sat. Brandon knew of my vacation and explained to his manager the need to get this wrapped up before I left so they could FedEx me the paperwork (I live in PA) so they can get it back. Never happaned.

Call finally comes yesterday in middle of my vacation and all I get is lies about how they have to charge us 6.99 now. They then come down to 5.99 but tell me it’s because I can only be locked in for 60 days and the rates in July went up. Scum bag liars. I just let them know it’s the deal we agreed to or no deal and I will be coming after them for the deposit and my plane fair. I’m an attorney so filing will be free and I would rather spend 5k of my time over 1k despite plus air fare on the principal of it. You agree to a deal, that’s the deal.

I run a company and have always said it’s not tough to be honest and fair. We do it all the time with our customers and stick to our agreements. [...]

Same thing is happening to me. I have my deal in writing, except not the interest rate. They won’t tell me, because they want to lock me on delivery. They verbally quoted a rate with the 1% mark-up. I went with another finance company and brought my own. Pissed then off and I refused to even listen to the spills about adding on tire and extended warranty stuff.