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      04-19-2013, 05:47 PM   #26
williakz
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Drives: Lexus LS460
Join Date: Apr 2013
Location: AL

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Quote:
Originally Posted by morfinx View Post
Related to buying a new car - I've never used any of the aforementioned buying service before. What's the advantage of using one?
Well, if you go through PenFed (Pentagon Federal Credit Union), you can qualify for a special 48 month car loan at 0.74%. It's for a limited time, and I HOPE it lasts long enough for me to close my Z4 deal. BTW, back in February, I bought my 2013 Lexus LS460 through PenFed and got 48 months at 0.49%!!

As the other poster said, the buying services set a cap on what the dealer can charge for a particular model. You can always go lower than the cap if you can swing it with the sharks. Usually, I use PenFed for financing and one of the others (Costco has been good) for setting the lowest cap available. If you're a member of whatever the entity, you are emailed registration certificates for specific dealerships when you use the buying program. You then contact the dealer (actually they usually contact you first), work out pricing (pre-determined or best-you-can-do), provide your certificate and proof of membership (such as Costco membership card), and voila!

Note that if you are now serving (or once served) in the military (or if one of your parents did and was a USAA member), you can qualify through USAA for some serious cash discount (on top of whatever price you negotiate) direct from BMW. Currently $1,250 for Z4, I believe.

Last edited by williakz; 04-19-2013 at 07:24 PM..
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