[rmedina]

Alrighty here's the deal. I'm approved through my bank for 4.64. The sales manager just told me they are offering 4.99 with a 1000.00 rebate. I was planning on during a 60month term. Any advice?

Thanks again guys..

[SoCalJon]

How much are you financing?
Can your budget afford a slightly higher payment?
Would you put the $1000 back on the loan? Spend it in something else? Save/invest?

[SoCalJon]

https://www.calculator.net/loan-calculator.html

[TheMaxXHD]

Originally Posted by rmedina

Alrighty here's the deal. I'm approved through my bank for 4.64. The sales manager just told me they are offering 4.99 with a 1000.00 rebate. I was planning on during a 60month term. Any advice?

Thanks again guys..

4.99% is the 1% dealership markup APR rate. The actual base rate for this month for BMWFS loan is 3.99% if you have a good credit score. Source: I just financed with BMWFS for 3.99% 5 days ago.

You can try getting them down to 3.99%, tell them you got another dealership or someone else got 3.99% through BMWFS. They likely won’t budge, but worth a shot.

[rmedina]

Originally Posted by TheMaxXHD

4.99% is the 1% dealership markup APR rate. The actual base rate for this month for BMWFS loan is 3.99% if you have a good credit score. Source: I just financed with BMWFS for 3.99% 5 days ago.

You can try getting them down to 3.99%, tell them you got another dealership or someone else got 3.99% through BMWFS. They likely won’t budge, but worth a shot.

Oh really.. good know. Thanks

[SpeedyATL]

I'd take the bmwfs loan and rebate. Then, if you feel like its worth the effort just refi with your bank.

You can always tell the dealership your plan and sometimes they will back off their mark-up of your rate.

[gillsp]

Originally Posted by SpeedyATL

I'd take the bmwfs loan and rebate. Then, if you feel like its worth the effort just refi with your bank.

You can always tell the dealership your plan and sometimes they will back off their mark-up of your rate.

U cant refinance the same rate tho, refinance would cost at least 1.5% more

[SpeedyATL]

Originally Posted by gillsp

U cant refinance the same rate tho, refinance would cost at least 1.5% more

Why not? I refinanced my bmwfs loan down from 3.99 to a credit union at 2.51 in September.

[rmedina]

I ended up going with USAA.. Also, being a USAA member I was given a 1500.00 rebate. Thanks for the advice guys