Finance options other than BMWFS for ED

M2COMP · 06-08-2012, 06:51 PM

Guys I think I'm getting a decent deal on a 2013 5 series. I was told by my CA that most banks don't finance for ED except USAA which I'm not eligible for.
BMWFS apr is fairly high. Any suggestions or experiences. Thanks

armanm · 06-12-2012, 01:23 PM

Take out a loan from any bank for the full amount and pay up front, this should save you some money over other FS options, I have looked into it previously.

EV0LVE · 06-12-2012, 02:15 PM

Credit union, some just requires you to open an account with them. Just keep some money there and get a low APR for the car loan.

tinydancer · 06-26-2012, 01:39 AM

Quote:

Originally Posted by EV0LVE

Credit union, some just requires you to open an account with them. Just keep some money there and get a low APR for the car loan.

I used a credit union to get 2.5% on my CPO purchase last month. They had a tough enough time with me buying the car 5 states away- no way they would finance ED. i imagine most credit unions would need the title in hand prior to the ED timeframe per their own regs or the NCUA- but I could be wrong.

M2COMP · 06-26-2012, 01:50 PM

Same, my CU asked me to go thru BMWFS and then refinance once car gets here at a lower rate.

errr · 07-04-2012, 01:03 AM

Hi, I registered just to help answer this post

Look into https://www.penfed.org/
I have not personally used it, but a lot of people in other forum seems to have good success.

I am not sure if they can accomodate ED, but worst case scenario you can always refinance with the same rate as if you are buying new car.

Please do me a favor and let me know how it goes. I am looking to do the same as well with potential ED purchase

06-08-2012, 06:51 PM	#1
M2COMP Captain 497 Rep 618 Posts Drives: 2011 X5, 2013 550xi, M2C Join Date: Jan 2011 Location: Southeast iTrader: (0)	Finance options other than BMWFS for ED Guys I think I'm getting a decent deal on a 2013 5 series. I was told by my CA that most banks don't finance for ED except USAA which I'm not eligible for. BMWFS apr is fairly high. Any suggestions or experiences. Thanks
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06-12-2012, 01:23 PM	#2
armanm Lieutenant General 48 Rep 397 Posts Drives: 2018 540i M Sport2015 535i M S Join Date: Jun 2012 Location: Los Angeles, California iTrader: (0) Garage List 2012 BMW 328i [0.00]	Take out a loan from any bank for the full amount and pay up front, this should save you some money over other FS options, I have looked into it previously.
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06-12-2012, 02:15 PM	#3
EV0LVE Captain 41 Rep 776 Posts Drives: F10 535i SG Join Date: Dec 2010 Location: So Cal iTrader: (1)	Credit union, some just requires you to open an account with them. Just keep some money there and get a low APR for the car loan.
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06-26-2012, 01:50 PM	#5
M2COMP Captain 497 Rep 618 Posts Drives: 2011 X5, 2013 550xi, M2C Join Date: Jan 2011 Location: Southeast iTrader: (0)	Same, my CU asked me to go thru BMWFS and then refinance once car gets here at a lower rate.
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07-04-2012, 01:03 AM	#6
errr Registered 0 Rep 2 Posts Drives: mercedes c350 Join Date: Jul 2012 Location: Seattle, WA iTrader: (0)	Hi, I registered just to help answer this post Look into https://www.penfed.org/ I have not personally used it, but a lot of people in other forum seems to have good success. I am not sure if they can accomodate ED, but worst case scenario you can always refinance with the same rate as if you are buying new car. Please do me a favor and let me know how it goes. I am looking to do the same as well with potential ED purchase
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