BMW Financial Services

BMW Financial Services Review

BMW Financial Services is offered by BMW of North America, LLC, a financial services company founded in 1975 and based in Woodcliff Lake, NJ. BMW Financial Services are available in 50 states across the USA.

BMW financial FAQ

What APR does BMW financial offer on its car loans?

BMW financial offers a fixed apr car loan product that ranges from 0.9% APR.

Your APR can vary depending on several factors, such as your credit score. Find out what your credit score is and whether there is any false or inaccurate information in your credit history with these credit monitoring tools.

What is the maximum auto loan term you can get with BMW financial?

BMW financial has car loans with a maximum term of 72 months. Having the option of longer terms allows borrowers to take on larger auto loan amounts while keeping monthly payments more affordable. However, the longer the term of your car loan, the more interest you will pay.

Does BMW financial charge an origination fee?

Yes, BMW financial may charge a loan origination fee.

Does BMW financial charge a late fee?

Yes, BMW financial charges borrowers with a late payment penatly fee

Does BMW financial charge prepayment fees?

Yes, BMW financial does charge borrowers a fee if they pay their loans early. Consider prepayment fees when you choose a lender because prepayment can reduce or even cancel the interest savings of repaying a loan early.

Can I pay off early my BMW financial loan?

Yes, you can. However, BMW financial charges a prepayment fee if you pay your car loan early. This fee could reduce or eliminate the savings from paying the car loan early.

What do you need to qualify for BMW Financial Services?

Applicants with a credit score of at least 650 and up to 850 may be eligible for BMW Financial Services. The minimum age to be eligible is 18 or the state minimum, whichever is higher.

BMW Financial Services does not have or does not disclose a minimum annual income eligibility requirement. BMW Financial Services only considers borrowers who are employed. Note that borrowers can add a cosigner to either meet eligibility requirements or qualify for lower interest rates.

The Military Lending Act (32 C.F.R. § 232) prohibits lenders from charging service members more than 36% APR on credit extended to covered borrowers. Active duty service members are eligible to apply for a loan via BMW Financial Services. Their rates fall within the limits of The Military Lending Act.

To qualify, applicants may need to provide the following documentation:

• Driver's license
• Proof of citizenship or residence permit

What is the estimated funding time for a car loan via BMW financial?

BMW financial will typically fund the car loan within 7 business days of approval.

Does BMW Financial Services report your account activity to credit bureaus?

Yes, BMW Financial Services reports your account activity to the following credit reporting agencies:

• Equifax
• Experian
• Transunion

Making regular on-time payments to a creditor that reports to one or more credit bureaus will demonstrate your financial responsibility and may help improve your credit.

Is BMW of North America, LLC a legit company?

BMW of North America, LLC was founded in 1975, it is a well-established company that has been in business for 48 years. BMW Financial Services are strongly not recommended by SuperMoney community users.