Where should I go

[Red1Blue]

I am thinking of getting a used BMW. I have applied at Affinity Federal Credit Union, and online system said it is approved, waiting to hear from their loan department. I am thinking it might be good to check out few other places. I have Penfed visa from last 4 months and USA Fed/Navy from last 2-3 months. Should I check out Penfed or Navy for the auto loan? Who would be a good choice for 20k auto loan for used car?

[Anonymous]

year, model?

[ibmrad7]

What are your FICO scores?

[jefftca925]

shouldn't this thread be under Auto Loans???  FWIW, you have to check with the bank/CU to see what their criteria is for "used" car loans.  They usually have restrictions on what they will lend on (i.e. year, mileage, etc.)

[Creditaddict]

Navy... they are offering 2.99!!

[ibmrad7]

BMW is offering 0.9 on some of the 2007/2008 3 series models for 36 months and 3.9 for upto 66 months.

[CHARGE]

Concord,

Is this car from a BMW dealer?  If so, you should give BMWFS a shot.  They have pretty relaxed standards for each credit Tier.  The sales advisors are also super easy to work with...   I did almost the entire transaction online including the price negotiation.  If you buy from the dealer and choose a model that qualifies you can get a CPO (certified pre-owned) that covers the majority of any major repair items for 6 years or 100,000 miles from the original delivery date with a $50 deductible.  I'm on my second BMW now.  LOVE the cars but without that warranty they can be pricey to repair.  What model and year are you looking at?

[CHARGE]

Concord,

Bump.

[Red1Blue]

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@CHARGE wrote:

Concord,

Bump.

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I am thinking of a late model 1xx or 3xx car. I might also look at other than BMW also.