BMW Financing Deals

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About BMW

BMW is known around the world for the luxury and performance of its vehicles. It prides itself on providing the “ultimate driving experience.”

If you’re looking to buy or lease a BMW, you might be considering through its manufacturer financing. Like other manufacturers, BMW offers substantial deals for well-qualified drivers who can meet their credit requirements.

Here we’ll go over the qualifications you’ll need to get the best deals, along with the types of BMW financing programs, rebates, incentives, leasing options and alternative sources of financing you could use to negotiate a better deal.

About BMW financing

BMW Financial Services completes 1.5 million new contracts with retail customers each year. Like most lenders with such a large volume, BMW financing sorts loan applications into tiers. The higher the tier you’re on, the better loan offer you’ll receive. To be in one of the top three tiers (which get the best offers), you generally need a credit score of 675 or higher.

Your tier isn’t just based on your credit score, however. Your full credit history — particularly how well you paid on past auto loans — is also an important factor. Some other factors that may impact your credit tier are out of your control because BMW considers macroeconomic conditions, too.

Financing directly through BMW

  • Terms may go from 24 to 72 months, although the term may be more limited on low APR loan offers.
  • Apply in person at a dealership or online.

To apply for financing through BMW, you can go online or to a BMW dealership. Before you go to the dealership, we strongly suggest you apply to a few other lenders. This could help you in multiple ways; the main benefit is that it could help you negotiate.

If you’re at the dealership and the salesperson brings back a BMW loan offer that’s worse than an offer you have in your pocket, you have a strong negotiating point because you could easily go with another lender. You could show the salesperson the offer you have and ask them to beat it. You could also ask for a tier bump.

Reasons you might qualify for a tier bump include a positive credit history, a large down payment, high income, low debt and other assets you might have, such as stocks, bonds or a savings account.

Applying to multiple lenders for an auto loan will not hurt your credit any more than applying to one lender for an auto loan, as long as you do the applications within a 14-day window. When you do this, you’re essentially shopping for the best loan. This makes sense. If you’re getting a BMW, you’re getting one of the best cars out there, why not make sure you get one of the best loans out there?

BMW rebates and incentives

  • 0% or $0 down financing.  Based on your credit tier and the current programs available in your location, you might be able to receive a 0% APR financing offer either with no down payment required or up to three months of no payment.
  • Group Corporate Fleet Program. Fleet discounts are available for corporations such as those that provide BMWs as work cars or incentives for employees.
  • Military Salute Program. This offers discounts to U.S. military members serving domestically, abroad and returning from abroad within six months. It offers help with international tax paperwork, and an international warranty is available.
  • College Graduate Program. If you earned an associate, undergraduate or graduate degree within the last 24 months or you will within six months and you have an offer of employment, you could get $1,000 off a new or certified pre-owned BMW and the best available financing rate through BMW Financial Services.
  • BMW Mobility Program. Customers who require vehicle adaptive equipment may qualify for a reimbursement of up to $2,500 of the expenses for the modifications on a purchased or leased new or certified pre-owned BMW.

This list may not be exhaustive of all the rebates, incentives (and respective requirements) offered in your area. They may change often depending on time of year, location and vehicle model, so be sure to check with the BMW website or BMW dealership for more information.

Leasing from BMW

  • Lease up to 60 months
  • Standard mileage limits are 10,000, 12,000 and 15,000 annually
  • Choose a special lease option to use your leased car to produce income
  • Sign up for a subscription lease to change out your car model when you want

If you like to get in a new car every few years or you have your heart set on a BMW that’s more expensive than you could afford to buy, leasing might be the way for you to go. There are usually limits on the amount of miles you can drive and the wear and tear you can put on the vehicle, depending on the lease you choose. In some leases, you could buy miles during the lease, at a discounted rate before you turn it in. The rate for mileage overage depends on the vehicle model. BMW Financial Services offers a few leasing programs from the traditional to the extravagant.

Traditional Lease

With this type of program, you sign to use one car for a set amount of time and miles, with the option of returning it or buying it at the end of lease. There are a couple options within this program you may be able to take advantage of:

  • You may have the option to buy more miles at a discounted rate before turning the vehicle in and being charged a mileage overage fee.
  • You may have the option to select the BMW Car & Ride Sharing Lease, which allows you to rent out your leased car and/or use your leased car to make money transporting people for a service such as Uber or Lyft.

Owner’s Choice

This is a balloon loan program, which is very similar to a lease. There are two phases in this. With the first phase, the customer has very low monthly payments for a period of time up to 60 months. The second phase lets customers decide whether to sell the car back to BMW, pay off the remaining value of the car in one large payment or finance the remaining value in a car loan.

Access by BMW

This is a special leasing program that is more of a subscription service. Like most subscription services, this is a monthly program. If you want to stop after one month or five, then you cancel your subscription and return the car. But the main feature of Access by BMW is that you’re not committed to leasing a particular vehicle. You can change which BMW vehicle you’re leasing.

So if you have a BMW M5 sedan, for example, and you want a BMW X5M SAV (sport activity vehicle) to go on a road trip, just call BMW. They’ll bring a maintained, gassed up, freshly-detailed SAV to you and take the sedan. Once you’re done with your road trip, you might not want a sedan back, but a coupe convertible instead. Call them, and they’ll bring it to you and take the SAV.

If you end up using the same BMW for a few months in a row, they’ll call you to ask about switching it out for the same model so they can do maintenance on it. Miles are unlimited and there is no convenience charge for switching vehicles.

Of course, this subscription doesn’t come cheap; availability and pricing depends on your location. The  lower-level membership subscription price for the Nashville area is $2,000 per month.

Alternative options for BMW financing

Many lenders offer auto loans, including banks, credit unions and online lenders. There are pros and cons for going with each type of lender, but you won’t know what they’ll offer you unless you apply. It doesn’t hurt your credit to apply to multiple lenders for the same type of loan within a 14-day window any more than it does to apply to one lender. You could consider a few lenders on and potentially compare five offers to see which is the best for you.

More about BMW

BMW (Bavarian Motor Works or Bayerische Motoren Werke) based in Bavaria, Germany, was established in 1916 as an engine maker.

A 1920s TV ad showing “BMW” coming from rotating airplane propeller led many to believe that the circular blue and white logo represents a propeller spinning against a blue sky. However, BMW itself says the logo is a combination of the Bavarian state flag and the original logo for Rapp Motors, one of the three founding companies.

It made its first vehicle in 1923, the BMW R32 motorcycle, although World War II saw BMW focus back completely on airplane engine production. The famous fighter pilot, the Red Baron, said the four-cylinder engine was the best in the world.

In 1945, much of BMW’s factories were dismantled and the Geneva Conventions pushed the company into making consumer automobiles. Today, it makes over two million vehicles a year and owns the brands Rolls Royce and Mini Cooper.

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