BMW Financial Services
in Auto Loans from BMW of North America, LLCUnaffiliated
BMW Financial ServicesUnaffiliated
in Auto Loans from BMW of North America, LLC
Strongly not recommended
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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 is available in 50 states across the USA.
What APR does BMW Financial Services offer on its auto loans?
BMW Financial Services offers an auto 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 loan term you can get with BMW Financial Services?
BMW Financial Services has auto loans with a maximum term of 72 months. Having the option of longer terms allows borrowers to take on larger loan amounts while keeping monthly payments more affordable. However, the longer the term of your auto loan, the more interest you will pay.
Does BMW Financial Services charge an origination fee?
Yes, BMW Financial Services may charge a loan origination fee.
Does BMW Financial Services charge a late fee?
Yes, BMW Financial Services charges borrowers with a late payment penatly fee
Does BMW Financial Services charge prepayment fees?
Yes, BMW Financial Services 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 Services loan?
Yes, you can. However, BMW of North America, LLC charges a prepayment fee if you pay your auto loan early. This fee could reduce or eliminate the savings from paying the auto 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 are 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.
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 and their covered dependents are eligible to apply for a loan via BMW Financial Services. Their rates fall within the limits of The Military Lending Act.
Permanent resident / green card holders are also eligible to apply.
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 an auto loan via BMW Financial Services?BMW Financial Services will typically fund the loan within 7 business days of approval.
- New Hampshire
- New Jersey
- New Mexico
- New York
- North Carolina
- North Dakota
- Rhode Island
- South Carolina
- South Dakota
- West Virginia
|Employment Statuses Considered||
|Immigration Status Considered||U.S. Permanent Resident|
|Joint Loan Applications Accepted||Cosigner|
|Maximum Vehicle Age||5|
|Verification Documents Required||
|Credit Score Range||
650 - 850
|APR||Starting at 0.9%|
|Loan Term||Up to 72 months|