Does any have info on current % rates thru BMW finance? Prime is really low. What has everyone seen lately?

 

0%. Not.....

 

I talked to PeopleFirst.com and was approved for a 4.99% loan. My MCS arrived while I was awaiting the check. The day the check actually arrived was the same day that I picked up the car. I talked to Desert MINI and told them the rate I got, and they matched it. As it turns out, however, they DIDN'T go through MINI Finance. My car is financed through Chase Financial. I guess Desert got a commission on the sale. I'f I'd known that, I might have gone with the Peoplefirst loan. The MINI Finance rate at the time (10/22/02) was 5.9%.

Hope this helps.

 

I financed my MCS through my credit union (Pentagon Federal) and got a rate of 4.9%. My dealer told me to go ahead and finance through them because they wouldn't be able to touch the rates the credit unions have.

 

>>I financed my MCS through my credit union (Pentagon Federal) and got a rate of 4.9%. My dealer told me to go ahead and finance through them because they wouldn't be able to touch the rates the credit unions have.

I also financed my mini through Pentagon Federal but used a second mortgage line of credit. The nice thing about using a second mortgage LOC is that the interest is low (4% even) and all the interest is tax deductable at the end of the year. That makes the effective rate of the loan much lower.

Hey mellymel... what part of NOVA are you from??? I live in Alexandria and work in Arlington.

 

I got 5.92% little over a month ago. My credit union would have given 6%, so that's what mini finance gave me to get my biz. Your best bet is to do the same: secure financing through another source and tell mini to beat it.

 

mini quoted me at 9.5%. i told them they were crazy. logged on to people first and got 4.99% in 10 minutes. i already had my credit reports done so i knew the first quote was a rip off. hell, in the entire chicagoland area the highest they are going is 8.5% and the lowest is 4.09%. shop around for sure!

 

>>mini quoted me at 9.5%. i told them they were crazy. logged on to people first and got 4.99% in 10 minutes. i already had my credit reports done so i knew the first quote was a rip off. hell, in the entire chicagoland area the highest they are going is 8.5% and the lowest is 4.09%. shop around for sure!

Hey cooper44, where did you see 4.09% in Chicago? Did you go with that one, or Peoplefirst? I applied for the Peoplefirst 4.99% last night, and expect to get approved today. However, 4.09% would be even better :smile:

I haven't even asked the dealer about rates yet. Figured I'd get my best deal on the net first.

 

it was a listing i had seen on one of the sites, kind of like an average list. i took the 4.99% from peoples first.com. i wish i could have gotten the 4.09% though, but i knew my credit wasn't that good!

 

You could take a line of credit on your mortgage and write the interest off...and with interest rates where they are... :smile:

 

FWIW, I've dealt with PeopleFirst twice now. Both times they've been great to deal with. I can't recommend them enough.

Jeff

 

>>>>I financed my MCS through my credit union (Pentagon Federal) and got a rate of 4.9%. My dealer told me to go ahead and finance through them because they wouldn't be able to touch the rates the credit unions have.
>>
>>I also financed my mini through Pentagon Federal but used a second mortgage line of credit. The nice thing about using a second mortgage LOC is that the interest is low (4% even) and all the interest is tax deductable at the end of the year. That makes the effective rate of the loan much lower.
>>
>>Hey mellymel... what part of NOVA are you from??? I live in Alexandria and work in Arlington.

Hey CGerhring..I am out in Herndon. I used to work in Arlington as of less than a month ago. I was in Crystal City. Now my area is out in the Herndon/Dulles/Chantilly area. Still pretty close! Maybe I'll see you at some meets in the area!

 

I worked out a deal with my dealer and am paying 0% interest with no monthly payments ever

 

My sales rep actually told me to go get financing elsewhere - they were up at 7.9%.

 

I got 4.2 percent for my Mini Cooper S. This was through BMW.

 

Grr...Just heard back from PeopleFirst and they're only offering me 6.49%. I don't get it. I have average credit, but my wife has PERFECT credit, and we carry NO debt other than our mortagage. We had no problem whatsoever qualifying for the lowest mortgages rates just a few months ago. I guess I'll have to shop around some more.

 

>>Grr...Just heard back from PeopleFirst and they're only offering me 6.49%. I don't get it. I have average credit, but my wife has PERFECT credit, and we carry NO debt other than our mortagage. We had no problem whatsoever qualifying for the lowest mortgages rates just a few months ago. I guess I'll have to shop around some more.

I've found that your credit score is higher when you have a couple of open credit cards.

 

For those of you that do own your home, you can get a home equity line of credit and use that to pay for your car.

That way, you will get a lower interest rate that will be TAX DEDUCTIBLE!

Don't give the tax man anything he does not deserve, and save yourself a bundle in the process. Might be enough to get that Nav system or other wacky MINI option.

 

BMW just called me with 5.5% through the dealer at Bill Jacobs MINI, Chicago.