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Car finance suggestions

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Anonymous
Not applicable

Car finance suggestions

Where should I finance a new car to buy it. I want the BMW 328i or 335i, msrp is like 36-38k (can i get it cheaper than this?) and addons are 17k. The price comes out to around 60kish. Havn't checked true car or kellyblue book yet.

 

I would like some advice. Should i first seek financing from my credit card relationships or should I go to my credit union. Just go through BMW finance?

 

Scores are good enough I think. Even higher if they use the autoloan FICO model. 

Planning on putting down 10k and report income as 144k.

 

Any prequal sites that don't HP? 

 

I heard 680 and BMW will work with me. Let me know please. Also, my EX is low. You suggest I freeze it so they only pull EQ and TU?

 

History, I bought 2 cars before this. Owe like 8k on my current Mazda 6. Got ripped off and financed 43k for it. including Apr. Lame right? Now i know better. Kinda hehe

 

Thanks.

5 REPLIES 5
Anonymous
Not applicable

Re: Car finance suggestions

I've read a couple times that BMW only requires like a 625-630 (or maybe 650?) for their top tier financing. Can't remember exactly how low, but I remember thinking "dam, that's low!" I could be mistaken, I can't remember where I read it and of course I can't find it. I just remember my scores would've qualified me for it and they're not very high, haha

Cap1 does prequal but they'll only finance up to $40k, non negotiable. So that won't really help you. That's the only soft pull prequal I know of, unfortunately. I wish more places did them.
Message 2 of 6
Appleman
Valued Contributor

Re: Car finance suggestions

Add-ons are $17,000 on a $38,000 car? I believe it but have a feeling you may need BMW financing to get that easily funded. If you have a good relationship with a bank or credit union that might work, just make sure you are ready to buy when you start applying so that the credit inquiries are grouped and hopefully have less of an impact on your score.

Message 3 of 6
Anonymous
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Re: Car finance suggestions

60k you better be getting a brand new 435 and not a 328 or 335 and hopefully it's fully loaded with convertible. Credit union is your best bet for financing. If your approve you won't need to put anything down. You can probably get approve for 75k easily with your income. I was able to get approved for 95k through BMW and my score is 675-695 st 4.2% for 72 months. Got approve at credit union for 2.49 for 72 months or 1.9 for 72 months if I open an account with them. My income is 180k/year last year was 240 after bonus

Message 4 of 6
Anonymous
Not applicable

Re: Car finance suggestions


@Anonymous wrote:

60k you better be getting a brand new 435 and not a 328 or 335 and hopefully it's fully loaded with convertible. Credit union is your best bet for financing. If your approve you won't need to put anything down. You can probably get approve for 75k easily with your income. I was able to get approved for 95k through BMW and my score is 675-695 st 4.2% for 72 months. Got approve at credit union for 2.49 for 72 months or 1.9 for 72 months if I open an account with them. My income is 180k/year last year was 240 after bonus


I was thinking of the 340. Let me know...

Message 5 of 6
Anonymous
Not applicable

Re: Car finance suggestions


@Anonymous wrote:

@Anonymous wrote:

60k you better be getting a brand new 435 and not a 328 or 335 and hopefully it's fully loaded with convertible. Credit union is your best bet for financing. If your approve you won't need to put anything down. You can probably get approve for 75k easily with your income. I was able to get approved for 95k through BMW and my score is 675-695 st 4.2% for 72 months. Got approve at credit union for 2.49 for 72 months or 1.9 for 72 months if I open an account with them. My income is 180k/year last year was 240 after bonus


I was thinking of the 340. Let me know...


What's your credit? They are doing special for that vehicle at 2.92 for 72 months. I think you can get that car for 57k OTD fully loaded depending on where ur from

Message 6 of 6
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