[masab321]

I have a 22 M4 comp in production. MSRP 85,745. I also have a 18 M4 comp with 34k miles that I was thinking to trade in (I live in a state with trade in tax benefit). But I don’t know the quote BMW dealership is going to offer me on my trade in as they suggested to appraise the car at the time of new M4 delivery.

I got some decent quotes from KBB and Driveway and was thinking if I should sell the car now. How much money should I put as down to finance a new M4 in this market? I got a rate of 3.29 with PennFed for 60 months financing. I was thinking to put down 10k and finance the rest.

I wanted to lease initially but with the horrible lease rates in this market, it’s much better to finance.

[NightWriter]

If I were in your shoes...

If your car's already in production, then you'll likely see it by this summer. The used car market should still be strong, so a few weeks before, I would get quotes from Vroom and CarMax and whomever. Bring them to your dealer and see if they'll match the best one. If they low-ball you by more than what your tax savings would be, then be prepared to walk and sell externally. Also look for local credit unions that you may be eligible to join; they tend to have better rates than penfed and BMWFS right now.

[Marcias]

Originally Posted by NightWriter

If I were in your shoes...

If your car's already in production, then you'll likely see it by this summer. The used car market should still be strong, so a few weeks before, I would get quotes from Vroom and CarMax and whomever. Bring them to your dealer and see if they'll match the best one. If they low-ball you by more than what your tax savings would be, then be prepared to walk and sell externally. Also look for local credit unions that you may be eligible to join; they tend to have better rates than penfed and BMWFS right now.

I received 1.9 for 72 months from a local credit union in Texas but bmw dealer will not accept a bank draft from a credit union. Apparently this is their policy. Sounds like they want me to finance with BMW. I will be going with anyone except BMW. This is so wrong ! Make sure your dealer will accept a credit union for your financing. Good luck.

[NightWriter]

Originally Posted by Marcias

I received 1.9 for 72 months from a local credit union in Texas but bmw dealer will not accept a bank draft from a credit union. Apparently this is their policy. Sounds like they want me to finance with BMW. I will be going with anyone except BMW. This is so wrong ! Make sure your dealer will accept a credit union for your financing. Good luck.

That's BS. They can't refuse external financing.

(They may refuse immediate release on a non-certified check, if your CU can't do that like a bank, but they can't refuse to accept legal payment.)

[YamaLink]

Originally Posted by Marcias

I received 1.9 for 72 months from a local credit union in Texas but bmw dealer will not accept a bank draft from a credit union. Apparently this is their policy. Sounds like they want me to finance with BMW. I will be going with anyone except BMW. This is so wrong ! Make sure your dealer will accept a credit union for your financing. Good luck.

Is that policy in writing?

[Marcias]

Originally Posted by NightWriter

That's BS. They can't refuse external financing.

(They may refuse immediate release on a non-certified check, if your CU can't do that like a bank, but they can't refuse to accept legal payment.)

My credit union would have given me a bank draft and they want a check, but they stated they do not accept financing from a credit union and this is their policy. I do not know if it’s a written policy but this is what they are telling me. That’s fine but I will not be financing with them unless they match my credit union. I will finance with someone else. Everyone is so greedy!

[NightWriter]

Originally Posted by Marcias

My credit union would have given me a bank draft and they want a check, but they stated they do not accept financing from a credit union and this is their policy. I do not know if it’s a written policy but this is what they are telling me. That’s fine but I will not be financing with them unless they match my credit union. I will finance with someone else. Everyone is so greedy!

So they'll accept a personal check from you, but not a check from your credit union? WTF do they care? I bet you could enlist the help of the state AG about unfair business practices. I don't think that's legal.

[Former-Mopar]

Originally Posted by Marcias

I received 1.9 for 72 months from a local credit union in Texas but bmw dealer will not accept a bank draft from a credit union. Apparently this is their policy. Sounds like they want me to finance with BMW. I will be going with anyone except BMW. This is so wrong ! Make sure your dealer will accept a credit union for your financing. Good luck.

Oh wow. That was my plan my credit union. That's BS.