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Pre-Owned financing question...
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01-11-2011, 06:47 PM | #1 |
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Pre-Owned financing question...
Hey guys, so i got approved to buy an NON-CPO 07 335i with a 3rd party warranty. The rate is 7.49% for 72 months though w/ a co-signer. I know bmw is still running the .9% financing on CPO cars, i have the option of going CPO on another car, and if i did 72 months, would i still get that .9% or would it go up? Any help appreciated, thanks guys. BTW my down payment is about 20% of the cars value, and my credit is good, but i don't have much on there, so i needed a co-signer.
Last edited by Jred22; 01-11-2011 at 06:54 PM.. |
01-11-2011, 08:09 PM | #3 |
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01-11-2011, 08:46 PM | #4 |
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they wanted me to have a co-signer for the .9% too, none of my family would co-sign because they didn't approve of me having a BMW in college so I said FUCK everybody and now I pay 7% for 72 months with a smile on my face every time I get behind the wheel. My car isn't CPO'd and my passat i traded in was paid for so I had like 18k down so my payments are only like 160/mo.
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01-11-2011, 09:02 PM | #5 | |
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01-11-2011, 11:58 PM | #6 |
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Anyone else got some insight/advice on this?
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01-12-2011, 10:37 AM | #7 |
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Hey buddy,
I just got a 08 CPO'd and was looking into financing before I took another route. 0.9% was not available to me due to the car being an 08. When I purchased the car it was December so the rates are most likely different for Jan. 0.9% was available for short term loans for cars 07 or older. If you wanted 60 months the rate was 1.9% For the 08 the rate for short term was 1.9% and the rate for 60 months was 2.9% and for 66 months it is 3.9% Hope this helps ! |
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01-12-2011, 10:52 AM | #8 | |
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01-12-2011, 12:26 PM | #9 |
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https://www.penfed.org/productsAndRa.../autoLoans.asp
3.25 % for a used car loan. Much better rate for up to 60 months. You just need to sign up for military families assoc. its like $25 or so . I would never finance for 6 years, but thats me.
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