BMW Car Finance

BMW car finance

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If you want a quality car that looks good and also is a brand you can be proud of, you can’t go wrong with BMW. BMWs are very sought after cars that are considered to be in the luxury class. As luxury cars go, BMWs are on the lower end when it comes to price, and there are a few models that start at under $50,000. However, that’s still a lot of money for anyone but the very wealthy. If you are looking to buy a BMW, it’s likely that you are going to need a source of BMW car finance. Here are some of the common sources that you might want to use.

Dealer financing
One of the top sources of BMW car finance, is financing from the dealer from which you are buying the car. Dealer finance programs tend to offer you lower rates and better terms than you can get from other sources. This is often because the car manufacturer or the dealer itself is subsidizing the loan to artificially lower the rate. That’s how you can wind up with 0 percent financing and/or loan terms that extend beyond five years. To get the top dealer deals on BMW car finance, you have to have a very good credit. You also are more likely to get a top deal at certain times of the year when the dealer is looking to boost sales, such as at the end of the calendar year.

Another top source of BMW car finance is banks. Car loans and home loans are among the top consumer lending products that banks do, so they are always looking to do car loans. Bank finance rates usually are competitive, although, as with dealer financing, you need to have a good credit score to get a loan. Dealers usually do not require down payments on the car to get a loan, but a bank may. It’s a good idea to shop around at several banks when you are looking at Stratton BMW Car Finance.

Finance companies
There are companies that specialize in giving loans, including car loans, and they can be a source of BMW car finance. Finance companies are similar to banks except that all they do is lend money. If you are looking at this as your option for BMW car finance, keep in mind that the terms will not be as favorable. You are likely to get a loan with a higher interest rate, so this should only be a last resort.

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