[tracythorne]

Will be picking up my car next week from the dealership assuming transportation moves as expected.

I reached out to BMW financial today, as I was preapproved by them last month. I was hoping they could give me some details on what type of financing is available: rates, term, select versus lease.

The answer I got was: "we can't talk with you about that - only the dealer can." That seems really odd.

I would prefer to finance with BMW financial, as I've had good experience with them in the past, other than today. the dealership is pushing me towards third-party vendors. Not sure what's in it for them (or me) with regard to that.

I know I can always pay off early and switch to a different lender if I want to. But do any of you have any suggestions on how to negotiate to financing at the dealership?

[TurtleBoy]

You must go trough a dealer in order to get financing with BMWFS. Many, if not most, will add a 1% markup to the base rate. I think it is currently 5.25% or something similar so if they give you a 6%+ rate you can try and get them to remove their markup but many will not.

[SpeedyATL]

My dealer gave me the bmw fs buy rate and a local credit union beat it by almost 2%.

Check out joinyaa.com. They claim to have setup buy rate relationships with several CUs so you can shop for the best rate pretty easily.

[SLO-Flat4]

Originally Posted by SpeedyATL

My dealer gave me the bmw fs buy rate and a local credit union beat it by almost 2%.

Same scenario for me - the BMWFS buy rate was pretty high and since I didn't qualify for any incentives, the CU was the logical choice.