Yes, but only because I have a lot of negative equity. If I didn't have so much negative equity I wouldn't have had to. With my score though they did say they would only finance up to 100% of the value of the car. So if you get a car discounted a few thousand (easy this time of year) , you would be able to finance the taxes and fees as well with nothing down. The car I was looking at was a 2011 328i for 28,000 and the value was 35000. So they approved me for a 35000 loan at 4.9. If you don't have negative equity to put into the new loan you would be good to go on a discounted car. If you can't get a discounted car, you would just have to pay the taxes and fees out of pocket. I would suggest looking at ex service loaners. They discount those heavily and they are still considered a new car in terms of the financing. That was why the car I was looking at was discounted, ex service loaner. This is all for a new car, used cars don't get 100% financing. It is more like 90%(for our credit level anyway). I also didn't look into other banks. All of this was with considering financing through BMW on their select program only.
Starting Score: (9/27/10)TU:602 EQ:567An ex service loaner is a car they give out to you when your car is in maintenace. If you need to get work done that takes more than just an hour or 2, they will let you borrow a car. They usually use each car for roughly six months. The only downfall is you lose those 6 months or so of warranty and free maintenance.The warrany and free maintenace started when they began loaning it out and it will usually have between 3k and 8k miles on it. That is why it is discounted so much. Still considered a new car in the eyes of the banks for loans. You can call and ask a sales rep and or you could do an auto trader search. In auto trader, search used cars and put the years as only 2011 and ofcourse BMW 3 series. That will show you the service loaners and a few real used 2011s. I know in CA, their are something like 100 of them in southern CA alone on the auto trader site. I am eying a 2011 335i x drive with m sport package for $44000!! It is an ex service loaner and the actual value is $54000!! Give auto trader a try and let me know what you see or if you need any more help.
Wow.... Thats a great deal 
I am heading to Auto Trader right now.
Also, I noticed your credit scores you posted earlier. Your scores are better than mine. If they were to pull those scores, you would be able to get a lower rate than my 4.9 and financing up to like 115%.
RHAL, you really boosted my confidence 
But my credit is not too old. Only 2-3 years.
My oldest account is 7 years old, but I have a bunch of 30 dayers. I personally don't think they will have a problem with 2-3 years, but the only way to find out is to find the one you want and go apply. We both have the same income as well. I am at about 67000 a year. Also, I don't know if you are familiar with their select program, but I will tell you. It is baloon finacing similiar to a lease. 60 month loan and the last payment is big. Between 10k and 20k, depending on the projected value of the car after the loan is completed. You can either rifinance at that point, sell it and pay off the loan, or trade it in. The benefit is the payment is much lower than a traditional loan. The interest rate and approval guidelines are identical to a traditional loan with them though.
RHAL,
You are solving all my problems with every new post
So whats the main difference between a LEASE and this Select Plan? I am actually looking for a 60 Month term so this would be perfect.. Will there be any penalties in case I want to change the car after say 2 years? Do you have any link to know more about this Select Program?
The difference between select and a lease is it is your car. It is a finance so the car is in your name just like a regular finance. There is no mileage requirement and you don't have to turn it back in after your term is done. The downfall is depending on how much you borrow, after 2 years you will have a much higher balance on the loan than a traditional loan. This is because of the lower payment and baloon payment at the end. There is no penalties what so ever, it is a finance so you can do whatever you want. On the other hand since it is treated as a finance, you are responsible for the loan and the car. With a lease the dealership still owns the car and you dont have to pay off the residual afterwords, you can turn it back in. If you plan on only keeping the car for 2 years I would suggest a lease or a lower term with the select in order to pay off some balance quicker. Even with a traditional loan and nothing down after 2 years you will still have a fairly high balance. A 2009 335i is going for around 29k trade in right now. If that person back in 2009 got a select loan, they probably would owe more than 29k. I think the select is a good program for someone that wants to keep the car for atleast 3-5 years in order for the loan to catch up. I like it because of my negative equity problem. In my case the payment with select is what it would be without the negative equity on the traditional loan, and I plan on keeping it for atleast 4 years. Here is a link to the BMW site. http://www.bmwusa.com/standard/content/byo/default.aspx Build the car you want and at the end, at the payment estimator screen you can estimate using traditional finance, select finance and lease. You will see how much lower the payment is with select.