BMW Financing Questio Help!

childofbodom27 · 11-19-2007, 11:25 PM

hey guys, if anyone knows about financing please i need your help. My sister is trying to get a car, a 3-series sedan and the vehicle costs about 23,000. The guy at the used car dealership said that with a co-signer, who she has, my dad. My dad has about 780+ credit score and he wants to put $5,000 down. The guy said with a 72 month payment plan it will be 12% interest rate. Doesnt that sound alittle too high? even with my dad co-signing for her. btw we live in CA if that helps with the current rates.

335iheLLraiseR · 11-20-2007, 12:27 AM

the problem with cosigners is that even though they may have great credit, the primary borrowers credit still affects the decision. (kinda like if you average out an A+ and an F, you get a C.)

i would just buy it in your dads name if i were her.

NPDAN · 11-20-2007, 12:33 AM

and when your buying used, the interest rates are higher. So yea, the 12% does sound about right.

335iheLLraiseR · 11-20-2007, 12:48 AM

^^^^^^^yup, that too.

norcalEastbay328i · 11-20-2007, 02:32 AM

yea used cars intrest rate is high high high sometimes u can lease a new bmw with the same price as certain used. either do it under ur dads name straight or get outside financing. btw what kinda payments they work u out to????????

imolazhp_ci · 11-20-2007, 02:53 AM

no way it should be more than 9% no way at all...

phantom330 · 11-20-2007, 10:58 AM

did you post this twice?

imolazhp_ci · 11-20-2007, 11:48 AM

Quote:

Originally Posted by norcalEastbay328i

yea used cars intrest rate is high high high sometimes u can lease a new bmw with the same price as certain used. either do it under ur dads name straight or get outside financing. btw what kinda payments they work u out to????????

give that guy his deposit back or whatever.

epbrown · 11-20-2007, 11:49 AM

I take it this car isn't a 2004 CPO? BMW's giving 2.9% APR on those right now, you know.

11-19-2007, 11:25 PM	#1
childofbodom27 Private 8 Rep 60 Posts Drives: 335i Coupe Join Date: Mar 2007 Location: SoCal iTrader: (0)	BMW Financing Questio Help! hey guys, if anyone knows about financing please i need your help. My sister is trying to get a car, a 3-series sedan and the vehicle costs about 23,000. The guy at the used car dealership said that with a co-signer, who she has, my dad. My dad has about 780+ credit score and he wants to put $5,000 down. The guy said with a 72 month payment plan it will be 12% interest rate. Doesnt that sound alittle too high? even with my dad co-signing for her. btw we live in CA if that helps with the current rates.
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11-20-2007, 12:33 AM	#3
NPDAN Colonel 99 Rep 2,572 Posts Drives: AW DCT M3 Join Date: Feb 2007 Location: So.Cal iTrader: (7) Garage List 2008 E92 M3 [8.00] 07' E92 335i [0.00]	and when your buying used, the interest rates are higher. So yea, the 12% does sound about right. __________________
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11-20-2007, 02:32 AM	#5
norcalEastbay328i Private First Class 9 Rep 138 Posts Drives: spay grey 328i Join Date: Sep 2007 Location: bay iTrader: (0)	yea used cars intrest rate is high high high sometimes u can lease a new bmw with the same price as certain used. either do it under ur dads name straight or get outside financing. btw what kinda payments they work u out to????????
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11-20-2007, 02:53 AM	#6
imolazhp_ci Major 29 Rep 1,002 Posts Drives: Z4 M Coupe Join Date: Jan 2007 Location: orange county iTrader: (0)	no way it should be more than 9% no way at all...
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11-20-2007, 10:58 AM	#7
phantom330 Captain 18 Rep 892 Posts Drives: e93 335i Join Date: Aug 2005 Location: OH iTrader: (0)	did you post this twice?
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11-20-2007, 11:49 AM	#9
epbrown Colonel 63 Rep 2,128 Posts Drives: BMW M Coupe, Porsche Boxster S Join Date: May 2007 Location: Chicago, IL iTrader: (0)	I take it this car isn't a 2004 CPO? BMW's giving 2.9% APR on those right now, you know.
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