• Oct 23, 2008
Justin B. from TTAC sent us a tip that BMW NA is offering all of its models – from the 135i to the Alpina B7 – with a pretty-please-with-sugar-on-top APR of 0.9%. No car is exempt from the ultra-low loan, which means you can get behind the wheel of an M3 sedan or a 335i with relative ease, assuming you have a FICO credit score of 600 or more. We called up our local BMW dealer to find out if there are any exceptions, and apparently the credit score and a loan spanning 24-60 months are the only things keeping you away from Teutonic bliss. The offer began on October 1st and is good through October 31st – likely a last ditch effort to clear out the '08s and spur sales in a month where buyers are putting off big-ticket purchases. If October's numbers are as abysmal as we expect, don't be surprised if this sale leads into November. Check out BMW's site for the details.

[Source: BMW via TTAC]


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  • 19 Comments
      • 6 Years Ago
      The special financing rate only applies to outgoing '08 models. Brand new '09s are not eligible.
      • 6 Years Ago
      This has actually been out for a month or so. They offered 0.9% and free automatics on a select group of vehicles (including the 4-door M3) over the end of summer while all the rest were at 1.9%. Around the end of September (or maybe the middle, I can't remember) they came out with 0.9% for every model.
      • 6 Years Ago
      Funny, BMW had 0.9% (not all models) 'before' the current recession... I guess they have to give their crappy cars away to move inventory.
      • 6 Years Ago
      this is an absolute hoot for several reasons.

      first, not a single word about leasing. I'm sure leasing is history with just about everybody.

      second; a 600 FICO score? most highline makes require at least a 700 to roll it out the door. I have a suspicion that this got recently lowered, to reflect the direction most buyer's credit scores have gone. I'm sure BMW has a lot of metal to move.

      ... and before anyone gets too excited; just remember to add tax and license to that "deal".
      here in Arizona (using a $40,000 purchase price) the tax would be $3,300 (8.25%) license would be $820 (one year), plus the dealer doc fee of $400. this makes a total of $44,520. even at 0%, the payment would be $742 per month (60 months). the lease payment on this same car would have been about $499, plus tax, if they still offered it.

      I have a feeling we will be seeing a lot fewer 3 series on the street, as over 80% of those were leased.

      AZMike
      • 6 Years Ago
      A FICO score of 600? Most places are requiring at least 700 to even start negotiating a rate.
        • 6 Years Ago
        When I bought my first new car I had a FICO score of 660...and I was fresh out of college. I'm wonder how bad you would have to be with your credit to get a score lower than 600.
        • 6 Years Ago
        That was the first thing I noticed. With tons of bad loans, to only require 600 seem like asking for it to come back and bite you.

        "We called up our local BMW dealer to find out if there are any exceptions, and apparently the credit score and a loan spanning 24-60 months are the only things keeping you away from Teutonic bliss."

        I also surely hope they are looking at debt to income ratios as well. I am guessing since that *should* be obvious, you just neglected to mention that. Otherwise see the end of my first sentence.
      • 6 Years Ago
      a
      • 6 Years Ago
      Yeah, without leasing I'm guessing they have to extend 0.9% even to people with less than great FICO's. Even then I find it rather questionable, since how many people with tons of cash around happen to have low FICO's and want to buy a BMW?
      • 6 Years Ago
      Guess Toyota is not the only one... :P
      • 6 Years Ago
      Dammit, and I just bought a house. I could have gotten 2 M6's for my mortgage.
      • 6 Years Ago
      I wonder if we could get that deal on a dinan like such http://gizmoave.com/2008/10/11/bmw-m3-killer-dinan-bmw-s2-335i/
      • 6 Years Ago
      even some of my means can now afford a M3! I mean... I'll be paying essentially a months rent for a car every month for the next 5 years, but hey... its an M3! Maintenance and insurance however... thats a whole different story. I can't imagine what insurance is for a brand new M3 driven by someone under 25...
        • 6 Years Ago
        That seems like a sound financial investment.
        • 6 Years Ago
        Got my 335 at 0.9% in July with $0 down / 60mo.
        Just signed my name and drive out. But my score is 830 :)
        • 6 Years Ago
        Maintenance is free for the first 4 years. Insurance is bound to be higher than a regular car though.
        • 6 Years Ago
        One word: "High"
      • 6 Years Ago
      At the moment it will take a great leap of faith for anyone to sign on the dotted line for a new or used car. The economic situation is so fluid that no one knows what is going to happen, but there is some agreement that what is going to happen is going to be some degree of bad. The upcoming election will probably have a major impact upon just how bad things are going to get before things begin to get better. In the meantime car companies are watching inventory pile up with little relief in sight. Not good.
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