Interest Rate

[TypeRSA]

Hi Guys,

I just wanna know what kind of interest rate you got when you bought your M135i new at BM?

Thanks

 

[JCWHenry]

Depends on what kind of deal you are doing man, BMW finance is awesome either way.

On the Mini, I gave a 10% deposit and got prime -5 which was 4% but only over 42 months. If you take the car over a longer period the interest rate goes up, same goes for the lesser deposits I would think. :thumbs:

 

[TypeRSA]

I am looking at giving R130 000 deposit, but was told they won't really look at under prime :thumbdo: Quite annoying!!

 

[zabbo]

That doesn't sound right. Assuming you have a decent credit rating.

Perhaps if you give a smaller deposit then they will give you a better interest rate. I am sure you can then just pay the extra amount in at a later stage.

 

[LukeS2K]

I got prime for an older car. For a new car I would insist on at least prime -2.

---

You have to play hardball with them.

Apply for the finance...When the application comes back approved and says
'prime' go back to the salesman and tell him straight Prime -2 or prime -3 or 'NO DEAL', end of story.

99 times out of hundred you will get the rate or close to it cause they wont want to lose the deal. Its an expensive car, they will make it happen I promise you.

Just try it you have nothing to lose.

These guys spin stories like you cant believe.I found out my friend got prime -2 on a similar bmw so I was pissed cause I got prime.I went back to them and they said..'thats impossible'! Bullshit why would my mate lie.

 

[JCWHenry]

I am looking at giving R130 000 deposit, but was told they won't really look at under prime :thumbdo: Quite annoying!!

Huh? I'm assuming this is not with a BMW dealership then? And if it is tell them to pull their heads out their arses and go to a different one.

 

[Turbo 1]

I also got the Best deal at BMW Finance.
You should get prime minus with your deposit.

 

[TypeRSA]

This is at BMW in Midrand?? So quite annoyed. Will try the hard ball thing

 

[petrivanzyl]

Seems like quite a lot of people are not getting anything under prime these days.

 

[TypeRSA]

The thing is, I also wanna buy 2 cars from them. The M135i for me and a 118i for the fiance. So I am sure they should be willing to give us a better rate?? :idea:

 

[Gilbert]

From what I was told to me (by a BMW Sales Person) that they don't offer prime -5% on new cars.

LukeS2K is right by saying you need to play hardball.

 

[TypeRSA]

From what I was told to me (by a BMW Sales Person) that they don't offer prime -5% on new cars.

LukeS2K is right by saying you need to play hardball.

So only second hand cars? That is crazy!!

 

[Diabolik]

If you're buying two cars from them, then they need to play on your terms. Check what the other dealerships will offer you.

 

[Fayz]

I was told at SMG that the prime -5 option is only applicable on certain demo models :fencelook:

 

[Rory]

I had to play hard just to get prime when I bought my used 530d now. My wife had to fight just to get prime-0.5 on a new ix35 recently as well. I got prime-2 on my first car but that's because it was a special subsidised rate. A friend ended up getting a bigger discount on the car at prime which actually worked out less though :/

 

[SP33DYV]

I am looking at giving R130 000 deposit, but was told they won't really look at under prime :thumbdo: Quite annoying!!

I bought the 1M using BMWFinance at prime less 2.5%. Depends if you're an existing or returning customer.

 

[TypeRSA]

I am looking at giving R130 000 deposit, but was told they won't really look at under prime :thumbdo: Quite annoying!!

I bought the 1M using BMWFinance at prime less 2.5%. Depends if you're an existing or returning customer.

Well I hope I can get a similar deal to this..

 

[_juju_]

sub prime should be easy if your credit record is good, got it through my bank's VF without even trying

 

[TypeRSA]

sub prime should be easy if your credit record is good, got it through my bank's VF without even trying

I would think I have a good credit record. Never paid anything late. Never skipped. Always pay a bit more than required... So sure it should be fine

 

[Rayzor]

Just be persistent bud, they budge sooner or later, also speak to another dealership just for kicks :thumbs: