Thinking of Refinancing

ironjw · 04-06-2008, 06:13 PM

Hey all,

I am thinking of refinancing through BMW Financial since they are offering 3.9% rate. I am currently financed through Chase bank @ 6.54%. I have owned my car for exactly 12 months now!

What do you guys think? Is 3.9% only available for new car owners?

Any comments or suggestions will be appreciated.

Thanks

CRZ410S · 04-06-2008, 08:49 PM

Be careful the re-finance is not treated as a used car. Used car rates and terms are usually much worse than new. Keep us posted on how it works out.

musc · 04-06-2008, 08:52 PM

Quote:

Originally Posted by ironjw

Hey all,

I am thinking of refinancing through BMW Financial since they are offering 3.9% rate. I am currently financed through Chase bank @ 6.54%. I have owned my car for exactly 12 months now!

What do you guys think? Is 3.9% only available for new car owners?

Any comments or suggestions will be appreciated.

Thanks

I think the 3.9% is only an incentive for new 335is (and some other BMWs as well). I was told it doesn't apply to CPOs on the lot, so I doubt you can get refinanced. Never hurts to ask though!

ironjw · 04-07-2008, 02:30 AM

yea i will call bmw/chase tomorrow and keep you guys updated!

thanks for the input guys!!

sillygoat · 04-08-2008, 06:03 AM

Quote:

Originally Posted by ironjw

yea i will call bmw/chase tomorrow and keep you guys updated!

thanks for the input guys!!

sweet koz i need to refinance mine too.

Brunotheboxer · 04-08-2008, 09:04 AM

they wont give you 3.9% to refinance.

NPDAN · 04-08-2008, 09:40 AM

Quote:

Originally Posted by Brunotheboxer

they wont give you 3.9% to refinance.

+1 not on an auto re finance...

10-26-2009, 11:53 AM

Hello.
I am thinking of refinancing my car. Is it good tome??

taliesen · 10-26-2009, 04:09 PM

Most manufacturer finance companies will not refinance anyway. The rates they advertise are only for new cars. The major banks usually have really bad rates for refinances (if they even offer them), as they are then considered used cars. You might want to call Chase and request an official payoff quote because you're looking to refinance - that should trigger their scripting software to talk to you about their refinancing offers.

If you really want to pursue a refinance, your best bet is probably a local credit union. I'm not sure anyone will be able to beat 6.54% on a used car, though . . .

Best regards,
taliesen

04-06-2008, 06:13 PM	#1
ironjw Major 34 Rep 1,416 Posts Drives: 2007 335i Join Date: Apr 2007 Location: 818 iTrader: (0) Garage List 2007 335i [0.00]	Thinking of Refinancing Hey all, I am thinking of refinancing through BMW Financial since they are offering 3.9% rate. I am currently financed through Chase bank @ 6.54%. I have owned my car for exactly 12 months now! What do you guys think? Is 3.9% only available for new car owners? Any comments or suggestions will be appreciated. Thanks
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04-06-2008, 08:49 PM	#2
CRZ410S First Lieutenant 21 Rep 397 Posts Drives: 08 335i Vert Join Date: Mar 2008 Location: Suburbs of Philly iTrader: (0)	Be careful the re-finance is not treated as a used car. Used car rates and terms are usually much worse than new. Keep us posted on how it works out. __________________ E93 08 335i Vert \| 6 spd \| Barbera Red ext/Blk Int \| Sprt/Prem pkgs \| Comfort/Nav/Ipod/Sirius \| + some custom work
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04-07-2008, 02:30 AM	#4
ironjw Major 34 Rep 1,416 Posts Drives: 2007 335i Join Date: Apr 2007 Location: 818 iTrader: (0) Garage List 2007 335i [0.00]	yea i will call bmw/chase tomorrow and keep you guys updated! thanks for the input guys!!
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04-08-2008, 09:04 AM	#6
Brunotheboxer Colonel 403 Rep 2,984 Posts Drives: 2014 Shelby GT500. Join Date: Jan 2006 Location: Boston/Cape Cod iTrader: (0)	they wont give you 3.9% to refinance. __________________ "...I maybe drunk, but you're ugly, and I can sober up..."
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10-26-2009, 11:53 AM	#8
mickbali123 Guest 0 Rep n/a Posts Drives:	Hello. I am thinking of refinancing my car. Is it good tome??
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10-26-2009, 04:09 PM	#9
taliesen Self Imposed Exile 18 Rep 228 Posts Drives: 09 E90 328i Join Date: May 2009 Location: DFW, TX iTrader: (1)	Most manufacturer finance companies will not refinance anyway. The rates they advertise are only for new cars. The major banks usually have really bad rates for refinances (if they even offer them), as they are then considered used cars. You might want to call Chase and request an official payoff quote because you're looking to refinance - that should trigger their scripting software to talk to you about their refinancing offers. If you really want to pursue a refinance, your best bet is probably a local credit union. I'm not sure anyone will be able to beat 6.54% on a used car, though . . . Best regards, taliesen __________________ 2009 E90 328i - Space Gray / Black-Ette / Aluminum / 6MT / Xenons / BT / iPod / Legal Tints / Blue and White CF Roundels / Clear Bra / Done Modding (daily driver)
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