[UCSBMW]

As some of you may know, the sale of my E92 is just about finalized...which means I will be purchasing another car shortly. I was just wondering if any members on here had any recommendations for used car financing? I'm looking for a lender that has competative rates and easy qualifications with top tier credit borrowers. Any information is greatly appreciated. (Any personal experiences good or bad is welcomed) Thanks!

[MisterSkiMask]

Are you trying to secure financing before car shopping?
Going to buy a used car from a private seller or dealer?

Dealers can get killer financing rates on good used cars. (my brother got sub 5% on a used E55)

[Spool]

what car are you looking to get? rates depends on the car as well...it's hard to get financing for an old car such as a Supra or RX-7 if you are still into those kind of cars...i had to buy my Supra with cash

[UCSBMW]

Originally Posted by MisterSkiMask

Are you trying to secure financing before car shopping?
Going to buy a used car from a private seller or dealer?

Dealers can get killer financing rates on good used cars. (my brother got sub 5% on a used E55)

I'm looking for both private purchase and through a used car dealer, whomever I find a great deal with. I'd like to be pre-approved if I do decide to go private...any thoughts? thanks

[achenator]

try some credit unions, some have great rates. I always hear penfed mentioned.

[FStop7]

Penfed has killer rates but they're tough to get qualified with if it's your first time borrowing from them

[stimpy]

Originally Posted by FStop7

Penfed has killer rates but they're tough to get qualified with if it's your first time borrowing from them

+1

I've yet to really see a place that has better rates than Penfed (besides new car 0% of course).

It can't be that tough - last 5ish people I referred to them got approved no problem. They do require more paperwork than any other place I've seen though...
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[UCSBMW]

Probably a dumb question, but would I have to join the credit union to benefit from their low auto loan rates as other credit unions, or is this something I can apply for without membership? Thanks for the info guys

FYI: I'm in the market for a used Rover, E55, or Cayenne Turbo (2004 +)

[1cleanm6]

I WORK for a credit union and good luck getting a car loan right now the qualifications are really high!!...

you need to be be buying it from a franchised car dealership to even get your app run, besides that you need good credit, and a good D/I ratio, along with a good *true* income..that can be proven.

[MisterSkiMask]

Originally Posted by UCSBMW

Probably a dumb question, but would I have to join the credit union to benefit from their low auto loan rates as other credit unions, or is this something I can apply for without membership? Thanks for the info guys

FYI: I'm in the market for a used Rover, E55, or Cayenne Turbo (2004 +)

I would check out a Lease Return type of dealer. (Not that you asked, but DO NOT BUY THE ROVER) Like this one.
http://www.eleasereturns.com/
The owner is good guy, my brother got his E55 from this place.

[IrateSpeed6]

My local credit union has 4.79% on a 2007+ car for 48 months... Banks just can't beat credit union rates...

[UCSBMW]

Originally Posted by MisterSkiMask

I would check out a Lease Return type of dealer. (Not that you asked, but DO NOT BUY THE ROVER) Like this one.
http://www.eleasereturns.com/
The owner is good guy, my brother got his E55 from this place.

THanks! I was actually leaning towards the Rover...hmm, what are the horror stories about it?

[yomama69]

I have a car financed through a credit union. I had to open a checking account and throw 50 bucks in there, but no big deal.

[MisterSkiMask]

Originally Posted by UCSBMW

THanks! I was actually leaning towards the Rover...hmm, what are the horror stories about it?

Here is a little discussion from a while back.

http://www.e90post.com/forums/showthread.php?t=242727