2024 BMW Financing Deals
Chloe Della Costa is a freelance copy editor and writer with a degree from Bard College. She specializes in copy editing and fact-checking content related to personal finance, insurance, and business.
 | Starting APR 0.00% | Loan terms Up to 72 months |
If you’re in the market for a BMW, check out the offers and incentives from BMW Financial Services. These will vary by dealer and region, and sometimes the best offers will come in person rather than on the general BMW Financial website itself. But you may be able to score a deal that’s competitive with — or even better than — other banks or lenders when using BMW financing.
On this page
- BMW financing options
- BMW financing pros and cons
- A closer look at BMW financing
- How to apply for financing through BMW
- How BMW financing compares
- Frequently asked questions
BMW financing options
Buying a BMW
BMW offers traditional financing and leasing programs for both new and certified pre-owned vehicles. Like other manufacturers, BMW offers substantial deals for well-qualified buyers, but these deals vary by dealership and are usually available for a limited time.
In addition to standard auto loans, BMW financing offers balloon financing options that are a bit different than what you’ll find at most car dealers. A balloon auto loan has lower monthly payments than traditional financing but requires a large payment at the end of the term. However, if you can’t or don’t want to make that final large payment, you can refinance your balance or use your trade-in value to buy a new vehicle.
If you’re not quite ready to pull the trigger on a BMW, you can take advantage of the BMW Financial Credit Rate Lock program, which lets you lock in a rate for an extended period while you shop around.
Leasing a BMW
BMW Financial offers conventional leasing options on new vehicles, and it also provides options if you want to extend your lease, like most dealers. But it also has some innovative programs that allow you to tinker with your traditional lease terms.
For example, if you want to finish your lease payments in a single swoop, the Pre-Pay Lease Program allows you to pay for your entire lease up front.
If you simply want to keep your lease payments as low as possible, BMW Financial will allow you to make as many as seven security deposits on a new lease.
If you’ve been enjoying your leased BMW so much that you’re going over your mileage allotment, you can purchase additional miles through the Mileage Adjustment Program (MAP). On the other hand, if you end up driving less than expected, you can use the Unused Mileage Loyalty Benefit to snag a credit or refund to your original account.
BMW Financial will also waive your disposition fee at the end of your term if you decide to lease or finance a new BMW through BMW Financial within 12 months.
BMW financing pros and cons
BMW Financial provides some perks to borrowers, but it’s not the only option when it comes to financing your vehicle. Like any financial product, there are both pros and cons to a loan from BMW Financial.
| Pros | Cons |
|---|---|
Very convenient to handle car buying and financing all in one place Offers a number of interesting programs to make the buying or leasing process easier May offer promotional rates as low as 0% | Doesn’t offer many financing specifics on its website — you’ll have to visit a dealer to learn more The best deals may not be available where you live |
A closer look at BMW financing
Like many lenders, BMW Financial Services offers special deals to certain groups or individuals. Here are some of the discounts currently available through BMW financing:
- BMW Military Incentive: If you’re on active duty, a veteran, a military retiree or a family member of a qualifying service member, you can receive a $500 to $2,000 bonus toward the lease or purchase of a new BMW.
- BMW College Graduate Program: If you’re a recent graduate from an accredited college or university with at least six months of good credit history and a debt-to-income ratio of 45% or less, you may qualify for $1,000 off a new or certified pre-owned BMW.
- BMW Mobility Program: Customers who require mobility modifications when purchasing or leasing a new or certified pre-owned vehicle can receive a one-time adaptive equipment reimbursement of up to $2,500.
- Group Corporate Fleet: For company car purchases, BMW financing offers no-cost maintenance, roadside assistance, the BMW Assist safety program and the complimentary use of a BMW during service.
How to apply for financing through BMW
BMW Financial encourages those looking for financing to contact a dealer to initiate the process. This is likely because individual dealers are empowered to offer varying deals. You can start the process online, but you’ll still need to select a vehicle and dealer to progress beyond the first stage. From there, you’ll need to complete the following steps:
- Select financing type, term and down payment. If you’re leasing a BMW, you’ll also need to select an annual mileage option.
- Provide personal information, such as your name, address, Social Security number and date of birth.
- Provide financial information, including your employment status, occupation, income and employer address.
- Review and submit your information.
From there, your dealer will be in contact with you to continue the process.
How BMW financing compares
It’s hard to directly compare BMW financing with competitors when the company doesn’t publish key information on its website. You may have to go to a dealer to get the information you need to make a thorough comparison. When you’re shopping for a loan, you can fill out a single form with LendingTree and receive up to five auto loan offers from lenders.
| BMW | Lexus | LightStream | |
|---|---|---|---|
| Starting APR | 0.00% | 2.99% | 7.49% |
| Terms | Up to 72 months | 12- 72 months | 24- 84 months |
| Amount | Varies by dealer | Varies by dealer | $5,000- $100,000 |
| Min. credit score | Not disclosed | Not disclosed | Good credit |
Frequently asked questions
Yes, like most dealers, BMW occasionally offers 0% APR financing deals. But this rate is unlikely to be available at all times on all vehicles, and BMW’s best rates are reserved for “well-qualified buyers.”
BMW doesn’t specify what credit score is needed to get your financing approved. But you can be sure that the lower your credit score, the higher the interest rate you will pay if you do get approved. Most lenders look for borrowers with at least fair-to-good scores, so you’re more likely to be approved for financing if your score is at least 660.
Eligibility requirements for a BMW Financial Services offer aren’t outlined on the company’s website, but you’ll likely need at least good credit and/or a sizable down payment to be approved. Speak to your local BMW dealer for more information.