Change APR on a CPO

[L_Ann_F]

Is it a possibility that I can get BMW Finance to lower my existing APR on my CPO loan to the current CPO APR? It was just a thought that I was curious about. Thank you! :)

[tturedraider]

Nope. Sorry to be the bearer of bad news. BMW uses BMWFS in general, and their low rate offers in particular, as a selling incentive. You're already "sold"; no need to offer you an incentive.

At what rate are you financed? If it's over 4.5% here's an excellent source where you could refinance - https://www.penfed.org/productsAndRates/loans/vehicleLoans/usedAutoLoans.asp , anyone can join - https://www.penfed.org/howToJoin/overview.asp

[L_Ann_F]

Thanks for the info! It's not bad news that they don't do that. I didn't think they did. It was a topic of discussion with a few friends and I was the one brave enough to post. I am happy with the deal they gave me @ 4.9% with the first 2 payments paid by BMWFS.

Thank you for your informative & courteous reply! :)

[tturedraider]

Welcome to Bimmerfest. Hang around. You can learn all kinds of useful info here!

[L_Ann_F]

Thank you! I plan to visit this site often. Seems like a nice place with nice BMW enthusiasts! A wealth of info. Am very happy to be here. :)

[adrian's bmw]

Thanks for the info! It's not bad news that they don't do that. I didn't think they did. It was a topic of discussion with a few friends and I was the one brave enough to post. I am happy with the deal they gave me @ 4.9% with the first 2 payments paid by BMWFS.

Thank you for your informative & courteous reply! :)

If you factor those two payments and subtract them from your amortized rate if you went to term, that just might translate to a half a point to a full point of interest lower. :eeps:

[L_Ann_F]

If you factor those two payments and subtract them from your amortized rate if you went to term, that just might translate to a half a point to a full point of interest lower. :eeps:

I did and I think I received a fair deal from BMWFS. I always crunch the numbers before I sign anything. It's pointless to complain about being ripped off after the deal has been inked.

The original question was brought up during a discussion about how you can call a credit card company to lower your interest rate and the car loan interest rate question came up. I didn't think it was possible but, since I am not the expert, I posed the question.

Thank you guys for your answers. I LOVE this place!