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X3 F25 (2011 - current)
The latest X3 brings some added style and some new features to the BMW SUV family. Talk about the new F25 now!

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  #1  
Old 10-04-2012, 03:47 PM
edbiology's Avatar
edbiology edbiology is offline
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Location: San Diego, CA, USA, Earth.
 
Join Date: Oct 2012
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Mein Auto: 2013 X3 28i
My loan APR got lowered !?

Hi so I financed my X3 with BMW last week with 3.79 APR, which I believe is the lowest they are offering. But now my BMW online account has been activated, under contract information it shows my APR is 3.54. Does anyone know why? Does it have anything to do my 10k down payment?

Thanks.
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  #2  
Old 10-04-2012, 04:25 PM
Want the Thrill Want the Thrill is online now
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Location: Michigan
 
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Posts: 966
Mein Auto: 2011 X3 35i
Should have gone with Penfed. Their rate is 1.49 right now and anyone can use them. I got mine when it was 1.9%.
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  #3  
Old 10-04-2012, 04:29 PM
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edbiology edbiology is offline
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Location: San Diego, CA, USA, Earth.
 
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Mein Auto: 2013 X3 28i
I financed with BMW to get the college grad discount. I will refinance soon. Thanks for the information.
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  #4  
Old 10-07-2012, 08:07 AM
zerovector zerovector is offline
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Location: South California
 
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Quote:
Originally Posted by edbiology View Post
I financed with BMW to get the college grad discount. I will refinance soon. Thanks for the information.
If you have a chance to change it before you complete the paperwork, you should do so. The 1.49% yields more savings on a loan than the $750 loyalty cash.

Example

40k financed at 5 years with 10k down + rebate @ 3.54% = $2708 in interest
40k financed at 5 years with 10k down @ 1.49% = $1150 in interest

Last edited by zerovector; 10-07-2012 at 08:11 AM.
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  #5  
Old 10-08-2012, 06:37 AM
leewtech leewtech is offline
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Location: USA
 
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Mein Auto: BMW, GM, Fountain
I agree....skip the BMW rate it is not competitive with the market place. It will wipe out any cash rebate! We got 1.7% with BOA a couple of months ago.
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  #6  
Old 10-09-2012, 08:48 AM
pj_pooh pj_pooh is offline
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Location: Illinois
 
Join Date: Apr 2012
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Mein Auto: E90
My 2 cents - use the BMW financing to avail the college student discount and then switch to a fed in 5-6 months. The new car financing rates at all major credit unions is valid on cars up to 6 months old. The 1000 bucks you save initially is more than the extra interest you pay to BMWFS for those 6 months...
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  #7  
Old 10-09-2012, 12:38 PM
eddragon eddragon is offline
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Location: SF Bay Area, CA
 
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Mein Auto: 02 530i
Thanks for the info on PenFed. Patelco CU is at 1.99. PenFed is 1/2% lower
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  #8  
Old 10-09-2012, 01:54 PM
lovemygsp lovemygsp is offline
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I went with penfed and it couldn't have been an easier process! Good luck with whatever you decide!
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