topic Re: BMWFS APPROVED! in Auto Loans

BMWFS APPROVED!

youngandcreditwrthy — Tue, 30 Sep 2014 06:00:23 GMT

So all in all... I was approved!! My auto enhanced scores were WAY lower than my FICOS. Talking 680-700 for FICOs and then 630/650 for auto fakos.
I believe I got progressive plus.
Long story short, I negotiated about $2k below MSRP ($49k) and pmt is $472 a month for 36 months.
Im happy :-) I got an M235i in Alpine over Black Dakota.. Not the combo I wanted BUT these M235is are hard to find, much less wait three months to get them. Ugh yay!

Re: BMWFS APPROVED!

09Lexie — Tue, 30 Sep 2014 08:27:29 GMT

@youngandcreditwrthy wrote:
So all in all... I was approved!! My auto enhanced scores were WAY lower than my FICOS. Talking 680-700 for FICOs and then 630/650 for auto fakos.
I believe I got progressive plus.
Long story short, I negotiated about $2k below MSRP ($49k) and pmt is $472 a month for 36 months.
Im happy :-) I got an M235i in Alpine over Black Dakota.. Not the combo I wanted BUT these M235is are hard to find, much less wait three months to get them. Ugh yay!

Congratulations...did you put down the extra sec deposits?

Re: BMWFS APPROVED!

youngandcreditwrthy — Tue, 30 Sep 2014 11:55:25 GMT

Thanks Lex!!!!
I love the growl of this car... I didnt do security deposits, but I got about $12k off the top from my trade (lower than expected). I really wanted Estoril Blue and Terra leather but didnt want to wait. Bah
The way I read the finance papers is that I owe $30k on her (before taxes, etc.) I did get the gap coverage. I feel like the terms werent the BEST but as my absolute first auto loan (you can see I have enough avail credit to buy 3-4 of these things!! Lol) I am satisfied. Even without buying the car, everyone (even non sales) were friendly and nice at BMW of Dallas. The other places Ive been in the area have sucked. Quite sad for such a great product!
I am shocked that my auto scores were so liw though. Just checked this morning abd TU is at 686 while the auto TU was at 629 lmao. CRAY!

Re: BMWFS APPROVED!

09Lexie — Tue, 30 Sep 2014 19:19:37 GMT

@youngandcreditwrthy wrote:
Thanks Lex!!!!
I love the growl of this car... I didnt do security deposits, but I got about $12k off the top from my trade (lower than expected). I really wanted Estoril Blue and Terra leather but didnt want to wait. Bah
The way I read the finance papers is that I owe $30k on her (before taxes, etc.) I did get the gap coverage. I feel like the terms werent the BEST but as my absolute first auto loan (you can see I have enough avail credit to buy 3-4 of these things!! Lol) I am satisfied. Even without buying the car, everyone (even non sales) were friendly and nice at BMW of Dallas. The other places Ive been in the area have sucked. Quite sad for such a great product!
I am shocked that my auto scores were so liw though. Just checked this morning abd TU is at 686 while the auto TU was at 629 lmao. CRAY!

Picked up the 535d last month for DH's birthday. I dealt with the same manager from last year, I got a great deal. MSRP was $61995- got it for $52697.

I have no complaints with BMWFS

Re: BMWFS APPROVED!

youngandcreditwrthy — Wed, 01 Oct 2014 01:52:26 GMT

Omg! That is crazy good !!! I feel like in a usual situation I could have gotten the price down more, but given that the car is highly sought after atm and most dealers have basically no inventory AND that most M235is are decked out and in the $52k+ range... The price i got ($47k) was very good. About $2k below MSRP. Still too... This is my first auto loan! I liked that only BMWFS pulled my reports, they werent hassling me to shop my credit around like Park Place around here or Classic BMW. This place was friendly... Not stuck up. They didnt assume I was poor just bc I am 25 and look 18. Everyone was respectful. That stuff matters ya know. Even the finance guy was willing to hear me out when I said no to tire protection. They just weren't pushy... I feel like my sales woman could have been my mom... :-)

Re: BMWFS APPROVED!

09Lexie — Wed, 01 Oct 2014 04:52:18 GMT

I drove almost two hours to the dealership ( my daughter lives 10 minutes from the dealership) well worth it! The dealership where I live likes to play games. Yes, we have the car - of course they have one 'similar'; yes we can match the price - if you can actually get that deal take it.

Id rather gnaw my arm off then go to them.

Re: BMWFS APPROVED!

youngandcreditwrthy — Wed, 01 Oct 2014 13:27:46 GMT

That was actually sort of my situation... I actually bought it. I didnt do a lease, so my $12k trade in went mostly towards depreciation lol but with these cars, they do hold their value better, and you bet your behind- she will stay in the garage. Lol and i could EASILY sell her for at least $45k. So... I am planning to keep her a while.

So There is a BMW dealership about 5 miles for me, but it is horrible. Their facility is amazing, but their customer service is awful and so is the service part. So I drove about an extra 30 minutes out of my way, but it was so worth it. This place was really nice, and everyone is friendly too. They weren't stuck up and it was so much better!

Re: BMWFS APPROVED!

CreditJim — Wed, 01 Oct 2014 17:45:40 GMT

Which BMW dealer young? I'm in Dallas too. Drove up to Richardson to buy my Touareg simply because they were willing to negotiate the price via email first. Others just wanted to get me in. But the wife's thinking about a BMW.

Oh, and I'm in my 20s too. Loved walking into the dealership to buy a $52k car, with my 0% financing already arranged and a good discount, wearing shorts and flip flops like I'd just walked in off the street, and not looking very Dallas. The salesman kept saying he honestly could not believe what a deal I'd negotiated on the car. I just shrugged and said I'm sure you tell everyone that but he seemed quite insistent that he was genuinely shocked.

Re: BMWFS APPROVED!

sccredit — Wed, 01 Oct 2014 20:09:39 GMT

Congrats, enjoy the new Beemer

Re: BMWFS APPROVED!

youngandcreditwrthy — Thu, 02 Oct 2014 04:46:27 GMT

BMW of Dallas! Avoid Classic BMW like the plague. They have messed up so much on my old 328i Coupe. I can refer you to my Sales Woman( I dont get credit!) She was very helpful... Now she was new and her english was a little funny haha, but just let me know. She was very informed and knew all about the excellent options. She was willing to tell the finance guys whatever I wanted price wise and shockingly, we met halfway from the get go. Here's the thing: you can't tell who has money and who doesn't. That's what Ive learned in business. The lowest BMWFS offers is 3.11%. I got around 4% I believe.
Thanks sccredit!!! Im so glad Ive been building my revolving credit all these years!

Re: BMWFS APPROVED!

youngandcreditwrthy — Thu, 02 Oct 2014 04:47:35 GMT

By new, I mean new to the area... She has worked at BMW for years. PM if you want here info, but the general feeling there was a good one with everyone. No pushiness or that being ripped off feeling. Lol