Land Rover Capital Group Financing

[Simpleisgreat]

Anyone have any input on Land Rover and their ease of financing?

 

I was recently approved by BMW Financial (online app), Mercedes/DaimlerChrysler (online app & dealer), GMAC (online app).

 

I know Land Rover is offering some "specials" locally on the LR3s.

 

I wasn't sure if anyone knows who they pull, and any tips on their financing and Tiers?

 

Thanks!

[MarvBear]

[MarvBear]

you're gonna kill yourself with inquiries.

[shonre]

Slightly off topic: But who did BMW Financial pull for you?

[Simpleisgreat]

Slightly off topic: But who did BMW Financial pull for you?

 

 

They pulled EQ and I got an online approval for an X5 and NO stipulations like DaimlerChrysler and GMAC put on me.. BMW is fine with me having 2 auto loans already open. This one is really for me. The one is being sold privately and the other is for my brother so he could have gotten a good interest rate so needless to say I was surprised they approved me without forcing me to turn in 1 of the 2 auto loans.

 

Though I have steered away from the SUVS and now looking at the BMW 3 Series or 5 Series and plan to pick one up tomorrow.

 

Mercedes wanted $875/month for a ML350 MSRP at $48k for a 48 month lease w/me trading in 1 of my loans with only $3k upside down and me paying 1/2 the negative equity off at signing... said money factor rated at 5.75%... I think I was getting ripped on that one.

[MarvBear]

What ever you decide, please don't do a 48 month lease.

[MarvBear]

If I remember correctly you did a 48 month lease against my advice when you got your current jeep, and that's part of the problem.

[Simpleisgreat]

Hi Marv,

 

You're absolutely right. I shouldn't have done a 48 month which rolled me worse into negative equity and my situation.

 

 

According to the Business/Finance Manager at BMW, they don't have Tiers. If you're approved , you're approved. That there are not Tiers like the larger Captive Finances use. I didn't know that either.

 

I applied "online" for the BMW that I liked, and BMW Financial sent me an approval on it and are not requiring me to trade in either of the 2 other auto loans I have open. I was really suprised by that.

 

 

With the lesson learned (no more 48 month leases), I'm going with a 36 month lease on a BMW 3 Series tomorrow.

 

I have a private buyer for the 2004 Jeep, so not trading that it, and only taking a $5,000 loss on it vs. a $9k loss on the trade in.

 

And the other loan I have open is actually for my brother who makes all the payments ontime, my credit got him a better interest rate with Ford.

 

 

FYI FOR EVERYONE ELSE -- Listen to Marv's advice.. If I had to do it over, I would have signed only a 36-40 month lease with a slightly higher payment, traded it in free & clear.. and been able to walk into another vehicle without dealing with all these negative equity issues.

Edited March 17, 2007 by dg0474

[Guest ernestb48104]

Dont go a MONTH over 36 months, stick to 24 or 30......