if you financed your car and didnt lease, what
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Some people have had luck with Capital One. I did not because they advise me that they would need to get copy of the title with them a lienholders shortly after releasing the moneys. I was forced to use BMWFS at 2 points higher than what Capital One was offering. 
As soon as my car was redelivered I refinanced.
As soon as my car was redelivered I refinanced.
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LDV, did it cost anything to refinance? I've seen credit unions offering me about 1% below what BMWFS offers.LDV330i said:Some people have had luck with Capital One. I did not because they advise me that they would need to get copy of the title with them a lienholders shortly after releasing the moneys. I was forced to use BMWFS at 2 points higher than what Capital One was offering.
There is no charge to refinanced though the rate is not as low as you would be quoted for a buying a car from new dealer. In my case CapitalOne was offering 3.99% on new cars. BMWFS charge me 5.9%. When I refinance I went through LendingTree.com and got 3 quotes. CapitalOne quoted 4.99% for refinancing. The best quote came from a small bank from New Jersey called Synergy Bank. They quoted me 4.29%, this was lower than you get if you went directly to them for a loan, so I went with them.icemanjs4 said:
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I used Capital One, 3.65% bac in October 04
I have heard of some folks getting financing from others. But banks don't like to give out money with no colateral. One option my credit union offered was basicly I put up the cash in an account with both their and my name and borrow against that. When the car arrives convert the collateral to the car and I get my cash back.speedracerf4i said:
This seemed like too big a hasel for the very few dollars I'd save. In the end BMWFS with withing less the 1/2%.
I guess your best bet is to re-finance if you don't like with BMWFS offers but at least BMWFS won't give you a hard time on the no title issue.
Were you upfront with CapitalOne with the fact that they may not get to place a lien on your car for 3 to 4 months after they have released monies and you got that in writing? :dunno:PittBMW said:
I was upfront and that is where I got an answer that it would be a no go, which is exactly the same answer I got at 3 other banks. I do not want to get you concerned but failure to provide information to the bank that materially may affect their decision to loan you money could subject your loan to be recalled and repayment of the entire loan due on demand. You were offered a loan in the 4% range because is was supposed to be a secured loan (with a lien on your car). Unsecured loans go for double that rate.
Edit: I also had the same problem when I tried to refinance. I literally had to wait until the car was redelivered because everybody including CapitalOne insisted in placing a lien immediately.
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The dealer called capital one to confirm. It seems like Capital one has financed quite a few ED's, so not a problem whatsoever. The dealer will register C1 as the lien holder and fax them a copy of sales receipt with my cars VIN#. I received a letter after funding from C1 congradulating my purchase. That's all.
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