NorCalZman, thanks for pointing that out. I revised my comment slightly. For us we wanted heated seats and fold down rear seats. That combination required the cold weather package.
t.
I added bmwusa.com, carmax, cargurus.com, carsdirect.com, and autotempest.com to the OP. I used all those also but overlooked them writing this up.
t.
Last edited by tkundhi; 02-22-2014 at 10:32 AM.
NorCalZman, thanks for pointing that out. I revised my comment slightly. For us we wanted heated seats and fold down rear seats. That combination required the cold weather package.
t.
I recommend do it where you live. That way you have it done and in place and you can search for cars anywhere. If buying from a dealer, you can always consider financing through them. One other comment on financing. You may have challenges getting financing for the full purchase price if that is what you're seeking. Most lenders don't care the car is a ZHP. They are simply looking at NADA values for a 330. So if you paying more than regular 330 prices you need to consider this. What the lender will ultimately finance will depending on many factors. That is why you should get this lined up before you find your car.
Credit Unions
One tactic I used when I was looking at mine was that I called the shop it was serviced at to see what input they have about the overall condition of the car, and the retentiveness of the owner.
-Dimitri; 19
98 Dakar Yellow M3Recaro - Ground Control - Macht Schnell - AP - Mashaw - UUC - Schroth - Apex - TMS
Probably wherever you have a banking relationship. While many people don't have relationships with their banker, I find it quite valuable.
Credit Unions are great. As are local banks. But you can also have a strong relationship with the local branch of large bank. I've used all three depending on where I was living at the time. The constant, relationships matter. Build them. Personally, I'm not going shop around, get funded through an online bank or go across town for a .25 rate difference. The additional cost for the time and amount being financed is really pretty small. In my OP I used the term bridge loan. That is when you want a loan for just a short period of time while you sell another car. In this case paying even a full point or two more may be worthwhile. After all you will only be financing the amount over a couple months. Plus using that approach may not require you to turn over title.
Many lenders will only finance a car based upon the NADA value plus 10% or so. They typically charge higher rates on used vehicles, particularly if they are more than 3 years old. Some lenders won't event consider financing a 10 year old car or will charge a significantly higher rate. They will also limit the term and add other fees to boost their profit. So that low advertised rate isn't what you get.
If your banker knows you, your habits, finances and your interest in cars, you may get more flexibility than the average buyer. This may mean they are willing to finance more, give you a longer term, etc... If you've discussed your objectives with the bank beforehand, when you find your car, you should be able to call your bank, sign some docs and have the funds within 24 hours or less.
t.
Talk to people too. I found my ZHP for sale before it even hit the market because I told my good friend and mechanic that I was looking for one. He directed me to a small privately owned dealer who usually had 1-2 per year. Then that owner's best friend from high school had one that I ended up buying. So put it out there, talk to anyone who may have an idea where one is. You never know what you'll find!
-Chris-
2003 ZHP Sedan - Jet Black on Sand - SOLD