Quote:
Originally Posted by Kevin_The_Clean1
Quote:
Originally Posted by DealBMW
The buy rate now is in fact 3.49% for 60 months and 3.99% for 72. They would want you to pick it up before the month ends.
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The "buy rate" means the percentage that the dealership is charged to finance the cost of the vehicle through BMW financial... Is that correct? |
The buy rate is what the actual rate is that bmw gives. So if the buy rate is 3.9 and you get 4.9 then they are making 1% in what's called reserve. That is the profit they make in financing. The most they can mark it up is 2.5% usually.
With credit unions they can't mark up the rate and credit unions the dealership have lender agreements with is just paid a flat. So you get the same thing you would at the dealership with a credit union as you would going to a CU branch