BMW Garage BMW Meets Register Search Today's Posts Mark Forums Read




 

Post Reply
 
Thread Tools Search this Thread
      08-03-2020, 12:28 PM   #1
SunDevil_M3
First Lieutenant
282
Rep
366
Posts

Drives: 1M
Join Date: Jan 2017
Location: Phoenix, Arizona

iTrader: (0)

Best Auto Loan Bank

Hey guys! So I am picking up my 1M next weekend and I have a couple of banks in mind to use for an auto loan but wanted to see if anyone had any other great banks with low interest rates they recommend.

1) USAA has high rates but approved for them.
2) Lightstream- Their rates went up a little and looking at like 4-5%.
3) Digital Credit Union- Have never used but had a friend say they were great to work with.
__________________
2011 BMW 1M l KW V3'S l GT Haus Meisterschaft Exhaust l Dinman Sideskirts l Mod Carbon Front Lip l Instagram @dat_1M
Appreciate 0
      08-03-2020, 12:34 PM   #2
Winn.Nguyen
Private First Class
Winn.Nguyen's Avatar
United_States
85
Rep
137
Posts

Drives: BMW
Join Date: Jan 2016
Location: Portland

iTrader: (0)

Navy Federal.
Appreciate 0
      08-03-2020, 12:47 PM   #3
khoa@x-ph.com
Major
khoa@x-ph.com's Avatar
United_States
662
Rep
1,276
Posts

Drives: F83
Join Date: Jun 2020
Location: Las Vegas

iTrader: (0)

Quote:
Originally Posted by Winn.Nguyen View Post
Navy Federal.
+1
Appreciate 0
      08-03-2020, 01:03 PM   #4
SunDevil_M3
First Lieutenant
282
Rep
366
Posts

Drives: 1M
Join Date: Jan 2017
Location: Phoenix, Arizona

iTrader: (0)

Wish I could use Navy Federal but I am grandfathered in through USAA. I am not active Military so cannot use Navy Federal.
__________________
2011 BMW 1M l KW V3'S l GT Haus Meisterschaft Exhaust l Dinman Sideskirts l Mod Carbon Front Lip l Instagram @dat_1M
Appreciate 0
      08-03-2020, 02:38 PM   #5
etr2016
Second Lieutenant
United_States
95
Rep
286
Posts

Drives: 1M - Black
Join Date: Mar 2016
Location: Scottsdale,AZ

iTrader: (0)

Lightstream will match other bank loan rates....they did that for me when I used them two years ago.
__________________
2011 - 1M - Black
2007 - Honda S2000 - Black
2020 - Lexus GX460 - Black
2022 - Lexus ES350 - Black
Appreciate 0
      08-04-2020, 10:59 PM   #6
DitchPickler
New Member
United_States
43
Rep
21
Posts

Drives: 135i
Join Date: Jun 2020
Location: Washington

iTrader: (0)

Better option is to use your 401k if you have that as an option. Interest is next to nothing and you pay that interest to yourself.
Appreciate 0
      08-05-2020, 05:50 AM   #7
Gangplank
Brigadier General
Gangplank's Avatar
United_States
1539
Rep
3,071
Posts

Drives: 2011 e82 135i n55 Sport w/ DCT
Join Date: Nov 2015
Location: Vero Beach, FL

iTrader: (2)

Garage List
2011 135i  [0.00]
Contact a credit union. They work for customers not shareholders. My loan on my 135 was 2.9% which they lowered to 2.65 if I made automatic payments. And that was 4 years ago. (I used SCE credit union but they are in CA).

Shop around for the best rate before letting them pull your credit report. Don't fall for their BS that they have to pull it to tell you the rate. They know what credit score gets what interest rate on a loan. Go pull your own credit reports for free so you know your score.
__________________
2011 135i w/ DCT | ZSP Sport Pkg | PPK | Ohlins R
Appreciate 1
      08-05-2020, 07:10 PM   #8
Cogitoergosum
Private
34
Rep
51
Posts

Drives: 1M
Join Date: Dec 2018
Location: Orange County, CA

iTrader: (0)

I like lightstream because they let me keep the title to the cars and no liens, which makes selling it much easier when you decide to move on. Others do it too- just a factor to consider
Appreciate 0
      08-06-2020, 02:43 AM   #9
Windy5000
Private First Class
Windy5000's Avatar
United Kingdom
46
Rep
124
Posts

Drives: Black BMW 135i N55
Join Date: Sep 2017
Location: London Surrey

iTrader: (0)

Gap Insurance?
Appreciate 0
      11-19-2020, 11:46 PM   #10
Mekaehl
Registered
Mekaehl's Avatar
0
Rep
1
Posts

Drives: 2011 BMW 1M
Join Date: Nov 2020
Location: Rexburg

iTrader: (0)

Quote:
Originally Posted by SunDevil_M3

1) USAA has high rates but approved for them.
2) Lightstream- Their rates went up a little and looking at like 4-5%.
3) Digital Credit Union- Have never used but had a friend say they were great to work with.
Hello,

Is it better to choose a local credit union? Do they usually have the lowest rates? I thought about 60+ month terms, but I guess I'll get a lower rate with 36 or 48 months.
I'm from Rexburg, Idaho. Trying to sell the one I own now and then I'll get back to auto loans.




Appreciate 0
      11-20-2020, 09:23 PM   #11
champignon
Disrupter
champignon's Avatar
United_States
1562
Rep
2,484
Posts

Drives: 1M;Z3M Cp;135is Vert, 996TT
Join Date: Jun 2015
Location: Idaho

iTrader: (0)

Quote:
Originally Posted by Windy5000 View Post
Gap Insurance?
Is this to prevent losing one of your front teeth?
__________________
Disappointing People for Two Centuries; 3 Pedal Fanatic
Appreciate 0
      01-02-2021, 11:58 AM   #12
Windy5000
Private First Class
Windy5000's Avatar
United Kingdom
46
Rep
124
Posts

Drives: Black BMW 135i N55
Join Date: Sep 2017
Location: London Surrey

iTrader: (0)

Quote:
Originally Posted by champignon View Post
Is this to prevent losing one of your front teeth?
Gap insurance pay's off the cost of the vehicle should you have an accident.
Appreciate 0
      02-03-2024, 08:06 AM   #13
Meso
Yes, I'm proud of myself.
Egypt
4
Rep
21
Posts

Drives: BMW E92 335I
Join Date: Oct 2016
Location: Egypt

iTrader: (0)

When I was looking for an auto loan for my car, I also wanted something with low-interest rates. I went with a different option than the ones you've listed. I used the gadai bpkb motor, which offered a low-interest rate of 1.5%. What stood out was how fast the process got sorted out in just two days, which was super convenient.

The great thing about it was the low-interest rate and the straightforward process. Everything was clear and easy to understand, which made the whole experience stress-free. It's worth considering if you're looking for a quick and easy auto loan with a reasonable rate.
__________________
Drives BMW E92 335 2010

Last edited by Meso; 02-06-2024 at 02:14 AM..
Appreciate 0
Post Reply

Bookmarks

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off



All times are GMT -5. The time now is 08:55 AM.




1addicts
Powered by vBulletin® Version 3.8.11
Copyright ©2000 - 2024, vBulletin Solutions Inc.
1Addicts.com, BIMMERPOST.com, E90Post.com, F30Post.com, M3Post.com, ZPost.com, 5Post.com, 6Post.com, 7Post.com, XBimmers.com logo and trademark are properties of BIMMERPOST