A4before24

Hey guys,

I financed an Audi at 1.9% with VW Financial and still have a few years left on it.

I'm looking to switch to a BMW from a used car dealer and his rate is 6.75%. Is there anyway i can get a better rate? Either with a cheaper loan or somehow get my 1.9% loan?

Darryl

I doubt there will be any way to transfer your existing 1.9% loan with VW to BMW. However, if your credit is good enough, you may be able to use that to your advantage with BMW if you tell him that is a deal breaker.

If you flat out told him, "I will take the car, but only if you can sell it to me at the negotiated price and can match the 1.9% financing I have with Audi" he will likely try for you. In the end, he is not the one who decides the financing rate. But if he wants the sale bad enough he might be able to influence the Financing Department. This will only work if the Financing Department can do 1.9% though.

In any case, if you plan to do it, be very prepared to walk away. And be very prepared to buy at 1.9%. Confidence will be the key here.

I see BMW commercials on TV that advertise 0.9% or 1.9% financing rates, so I would say your chances of succeeding are high. But again, this depends completely on your credit rating.

Edit: I noticed that you said the BMW is from a used car dealer, not from BMW themselves. It's much less likely that they will be able to offer a lower rate as they would use an independent financing company. For the sake of 4% or 5% over $35,000, it could mean an extra $2000 or so.