Soooo close

[malves85]

Just got back from the dealer. My car is in and all detailed. SGM looks amazing in person and that exhaust note is sweet.
Dealing with BMW is like pulling teeth. Went to 3 different people and no one would budge on price at all. But they did offer a free hat They kept saying how the audi s4 is so much more expensive and the bmw out performs it bla bla. What does that have to do with anything?? A simple 500 off and you have a sale. Ive been seeing people on here getting 500 to 1500 off. So then I try to see if financing would help me. They are charging 5.85% for 5 years! 6 years and it goes up to 6.5%! I could have swore i saw 3.9% in a few places for a 5 year loan. With 10k down, payments were looking over 650. Go from 5.85 to 3.9 and you are probably down by 100 or so. So if I can find a local bank with lower rates I will be going back Monday. If not then hopefully get the deposit back and se ya ve until im a little richer.
So thats my little review of the ordering process. Wish I could be giving a review of the car instead.

[topvega]

Originally Posted by malves85

Just got back from the dealer. My car is in and all detailed. SGM looks amazing in person and that exhaust note is sweet.
Dealing with BMW is like pulling teeth. Went to 3 different people and no one would budge on price at all. But they did offer a free hat They kept saying how the audi s4 is so much more expensive and the bmw out performs it bla bla. What does that have to do with anything?? A simple 500 off and you have a sale. Ive been seeing people on here getting 500 to 1500 off. So then I try to see if financing would help me. They are charging 5.85% for 5 years! 6 years and it goes up to 6.5%! I could have swore i saw 3.9% in a few places for a 5 year loan. With 10k down, payments were looking over 650. Go from 5.85 to 3.9 and you are probably down by 100 or so. So if I can find a local bank with lower rates I will be going back Monday. If not then hopefully get the deposit back and se ya ve until im a little richer.
So thats my little review of the ordering process. Wish I could be giving a review of the car instead.

They tried the same thing with me... they said they cld not do better then 6%... so I went to penfed and got 4.25% financing and when I told the dealer that they suddenly found a way to match the 4.25%... ass clowns...

[lib]

Very different experience from the one I've had so far.

Went through PenFed for 4.25% and when I ordered 1 week after they were released the first price my CA tossed out was $500 off.

Since you said you were looking for a bank with better rates I would have to suggest PenFed (https://www.penfed.org/). Their 4.25% covers everything from 12 to 72 months for a new car to 12-60 months on a used car. You can even refinance an existing car loan at that rate. A number of people on here have used them for their 1's.

[Ivor]

I'm paying 15% here in South Africa Would love to pay 6%

[malves85]

Thanks for the info on penfed. Im def gonna check that out and see what they can offer. Its crazy that 1% difference can mean $100 a month or something like that. Interest sucks. 15% is a killer. Damn I feel for you.

[corneredbeast]

Originally Posted by malves85

Thanks for the info on penfed. Im def gonna check that out and see what they can offer. Its crazy that 1% difference can mean $100 a month or something like that. Interest sucks. 15% is a killer. Damn I feel for you.

If you're financing around $34K, a drop in rate from 5.85% to 3.9% would reduce your payments from ~$650 to ~$620.

[malves85]

It was a much bigger drop then that. The finance guy showed me the computer screen when he changed the numbers. The original rate was 5.85% with monthly payments of $657. I told him I can get a loan for atleast under 4.5% so he input that number, the only thing he changed on the screen, and it came down to $540 something. I have no idea exactly how it all works and what BMWs finance people calculate but thats what I saw. So if I can get this Penfed at 4.25% I will be a happy camper.

[SimonB]

Gee, like Ivor, we're paying way over 4-5%, try 9.5%-11% in Australia. Sometimes you guys don't know a good thing when you're on one.

[Uptown Bully]

I'm at 6.5% for six years, with $9000 down (will actually be $10,100 after I changed to the SP), next to nothing for my trade...$451 a month. Maybe this is why I haven't got a production number in three weeks, they don't want to sell it to me for that.

[BMW Dreamer]

Originally Posted by topvega

They tried the same thing with me... they said they cld not do better then 6%... so I went to penfed and got 4.25% financing and when I told the dealer that they suddenly found a way to match the 4.25%... ass clowns...

I would tell them to stick it with matching. They should beat it by at least 0.25%. Why give them the business once your bank already gave you a great %. Matching after they wouldn't go any lower,,, FK THAT.