Member
Planning on buying used e90 but will need to have it financed. I have no problem getting financing for a $40+ new car, but I'm wondering how problematic would it be for, say an e90 M3 with 60k miles as an example. I'm guessing getting financing for a car like that will be very different in terms of rates/years. Anyone with experience and any tips? I'll check with my bank, obviously but I thought I'd run in by here anyway.
[CENTER]
Apprentice w/#yrs. exp.
Run it by Capital One auto financing. Banks usually shy away from older car financing.
Things may have changed, as I haven't financed a vehicle since 2008.
Bimmerphile
I don't usually finance my cars, but last year a deal came up on the local CCA chapter website for a one-owner 2001 Z3 coupe. My wife really liked it (automatic 5 speed) and I got a loan at our credit union. They would finance up to 120% of NADA book value. The age of the used car didn't matter. Terms were 3 years at 2.05%. If you have a regular bank or credit union, look at their rates. Or get on the Internet and search for best auto loan rates locally. Then look at the individual websites to see what they offer for used car loans. Good luck!
1987 325is Zinneberot 5spd totally stock multiple show winner
1992 325iC M-Technic factory appearance package, Diamantschwarz metallic, black nappa leather, black top, Dinan chip, K&N CAI, Remus exhaust
1997 528i Schwartz II, 5spd stick daily driver
1999 M Roadster, Dakar Yellow II, Dinan Stage 3, Dinan CAI, Dinan throttle body, Redline driveline, LiquiMoly 5w40 engine, BC Racing BR coilovers, Motion Motorsport under panel, S54 radiator and fan delete, BavSound speakers, Kenwood CD/iPod/aux/Bluetooth
2001 Z3 3.0i coupe, Sapphire Black, auto (dang), suede headliner, LeatherZ sunroof screen
2016 228i, Sapphire Black, 6 speed, M Sport Package
1993 325iC, Schwarz II, custom leather, Bilstein HDs, Ansa sport, Royal Purple engine and driveline SOLD
1997 318ti Active, Bostongruen, daily driver SOLD
Member
BMW CCA Member
An 08 should know what subforum to use by now for threads.
Member
Ahh! You're right. My apologies. I'll try harder to follow your example.Originally Posted by e39hamann
[CENTER]
Member
Easy. Any used car dealer will have financing recommendations. You might even be able to drive away the same day you find the car. Banks tend to have the worst rates for some reason. But credit unions can be good. Call your local one to ask what it costs to join and what their used car rate would be for a 2011 M3 or whatever you might be looking at. The older the car the more likely you will have to use lesser known lenders and pay a higher rate.
Pgh
Pentagon federal credit union. If you're in the military or can give them a name of a family member, call them.
Member
A Credit Union generally has better rates than a bank, but they often have age or mileage caps. These vary CU to CU, same for banks.
Member
This, I also used them for a old E36 M3, no probs.
Pgh
Yup
04 M3 with 110K they allowed a max of $16350 60/mo at 3.14% that was 3 weeks ago
Posting Permissions
Reply With Quote
thread!
Bookmarks