10-15-2018, 04:08 AM | #1 |
Private
37
Rep 97
Posts |
BMW Financial Services
This is the first BMW I am purchasing and I’d love some feedback on BMWFS. My credit is between 745-780 for both myself and my wife.
Are there any benefits for financing with BMW and how is their customer service? The reviews I find online are pretty bad but people usually only complain in reviews so it’s not an accurate representation. |
10-15-2018, 09:18 AM | #2 |
BMW Client Advisor
3459
Rep 2,504
Posts
Drives: 2020 M340i
Join Date: May 2017
Location: Tulley BMW Nashua, NH
|
BMW FS often gives you an incentive to use them to finance the vehicle. I do all of my stuff online and so far have had no complaints about them.
__________________
Contact me for all your BMW needs in the New England area.
jpichardo@tulley.com Top M Client Advisor in New England. |
Appreciate
0
|
10-15-2018, 01:19 PM | #5 |
Private First Class
82
Rep 120
Posts |
I also had good luck with PenFed Credit Union for my last two cars. They offer very competitive rates and you'll have a check in hand when you're ready to negotiate.
|
Appreciate
1
Resjudicata1607.00 |
10-15-2018, 03:37 PM | #6 |
Private First Class
60
Rep 120
Posts |
|
Appreciate
0
|
10-15-2018, 03:39 PM | #7 | ||
Private
37
Rep 97
Posts |
Quote:
Quote:
|
||
Appreciate
0
|
10-15-2018, 04:03 PM | #8 | |
Lieutenant
159
Rep 492
Posts |
Quote:
__________________
|
|
Appreciate
0
|
02-19-2020, 08:18 AM | #9 |
Registered
0
Rep 1
Posts |
Approved! BMW Financial
I have had BMW most of my life, I have used BMW Financial the past two vehicles with regular financing which I recommend for everyone. But I have had some credit problems in the past 3 years from a bad relationship/legal issues. My 4 series was almost paid off this year and I really wanted a new BMW but was worried about my credit as that will eventually be cleared up thanks to a great lawyer!! I applied online at BMW online and Capital One and got approved at capital one for a new car loan. The next morning, my local BMW center called me, it was the sales manager and he was like “hey, I see your looking for a new BMW and you applied online at BMW. He said I think we can work with you. I told him I was approved with capital one regardless and that I would like to get into the new X5. When I got to my local BMW I was a little nervous as my credit isn’t that good right now. I was immediately welcomed and treated like royalty. The Sales Manager yelled “hey Paul” across the room, I asked the dealer who that was, he said “Oh that’s the Sales Manager that you spoke with earlier this morning.” I was impressed that he knew who I was. They immediately had a new X5 parked out front for me to check out. I was in love.... and the dealer said if you want this my sales manager says he thinks we can make this work because I have been with BMW Financial for several years with no late payments. Sure enough! Not only did they pay off my 4 series and gave me equity toward the X5 but I was able to get the rebates as well. They had me out of there in 3 hours with a new X5 with my payments less that what I was paying on 4 series. I couldn’t believe it! I suggest using BMW Financial moving forward as your payment history matters with them and took into consideration when buying a new BMW even if you credit is low. Thank you BMW, I will be BMW for life.
|
Appreciate
0
|
02-19-2020, 09:06 AM | #10 |
Private First Class
75
Rep 178
Posts |
I lease, so I've used BMW Financial for the last decade or so, solid. They're good. Responsive, helpful, etc... The website is just ok, not the best, not the worst. I use EasyPay for automatic payment, and it all pretty much just works. The one time there was a hiccup they resolved it on the phone.
I don't have any experience with just financing with them though. I tend to prefer my Credit Union, but it's really about the best rate at the end of the day. |
Appreciate
0
|
02-19-2020, 09:40 AM | #11 |
First Lieutenant
114
Rep 325
Posts |
I've financed and leased through them. Biggest reason is there's usually a rebate, discount, or something for going through them. Usually around $2k. Plus have gotten 0.9%-2% financing.
No idea on customer service. I send them money, they let me keep the car. Never needed any other "services" or support from them.
__________________
____________________
Current: 2019 g05 X5 xDrive40i 2020 f30 440 xDrive Convertible 2004 e85 Z4 3.0 |
Appreciate
0
|
02-19-2020, 10:26 AM | #12 |
Private First Class
101
Rep 177
Posts
Drives: 2014 X5 5.0i
Join Date: Nov 2017
Location: MN
|
I have no issues with BMWFS. I've used it for five BMWs mainly because of the cash incentives. My other bank (USAA) can usually beat the APR by a little, but they don't provide the same APR credit and that makes a difference on a low rate car loan.
I don't like BMW's credit card though. I had a fraud issue (who buys $8000 worth of merchandise at the Atlanta Falcons stadium?) and getting it resolved with BMW credit card was more hassle than with other cards (Capital One is very good). |
Appreciate
0
|
02-19-2020, 10:34 AM | #13 |
LOVE BMW
54
Rep 117
Posts |
I've used BMWF for both my last BMW's. Excellent customer service! Also the dealer can give more incentives going through BMWF. Just remember the incentives are from the manufacturer not the dealer. Make sure to get an incentive from the dealer also. Then it's a win win for you.
|
Appreciate
0
|
02-19-2020, 01:07 PM | #14 | |
Private
70
Rep 53
Posts |
Quote:
If you're a big fan of "Mint", you're out of luck....there's no integration...
__________________
E92M3 - LimeRock Park Edition - DCT
E46M3 - 2006 Imola Red ZCP - 6MT X5G05 - Arctic Gray M Sport |
|
Appreciate
0
|
02-19-2020, 06:19 PM | #15 |
Captain
570
Rep 839
Posts |
BMWFS has been great for me. Love that when you pay ahead or over the due amount they credit the money for future payments. Allows you to build up an emergency fund of sorts. Also can see BMWFS stuff in the connected app.
|
Appreciate
0
|
02-20-2020, 06:53 AM | #16 |
Captain
359
Rep 682
Posts |
I'm getting a $3000.00 BMWFS "rebate" and 2.99% for 60 months for my 2020 X6 M50i. Why the rebate? I am hearing I will not be able to make payments with my 2% cash back credit card.
|
Appreciate
0
|
02-20-2020, 07:02 AM | #17 | |
Captain
570
Rep 839
Posts |
Quote:
I’m not aware of anyone that allows credit card payments on loans. Doesn’t make financial sense to allow it for the finance company. |
|
Appreciate
0
|
09-10-2020, 05:48 PM | #18 |
Enlisted Member
15
Rep 44
Posts |
About how long should it take to get my BMW Financial account number? Picked up my car 2 and a half weeks ago and still nothing when I try to register online or call. The error message says it should be 14 days at most...which has passed
|
Appreciate
0
|
09-10-2020, 10:36 PM | #19 | ||
Second Lieutenant
179
Rep 202
Posts
Drives: BMW X5
Join Date: Jan 2020
Location: Charlotte NC
|
Quote:
|
||
Appreciate
0
|
09-10-2020, 10:55 PM | #20 | |||
Private
29
Rep 50
Posts |
Quote:
Quote:
|
|||
Appreciate
0
|
09-11-2020, 01:46 AM | #21 |
The Dark Knight
422
Rep 1,262
Posts |
Does anyone know of a good bank/company to use at the moment for refinance of my X5? I would assume that the rates would be low at the moment due to covid, similar to mortgage interest rates, no?
|
Appreciate
0
|
09-11-2020, 03:56 PM | #22 |
Private
34
Rep 55
Posts |
I don't have anyone to recommend, but I have worked for a large bank for 30 years. Typically our automobile refinance rates are much higher than new purchase rates. Good luck and be sure to check credit unions and on-line only banks.
__________________
2021 X5 M50i
Other vehicles: 2019 Corvette Z06, 2019 RAM Longhorn, 2018 Acura RLX, 2002 Pontiac CE Trans Am, 1988 Pontiac Fiero GT |
Appreciate
0
|
Post Reply |
Bookmarks |
|
|