Financing
Welcome to BMW of Bel Air's Finance Center.
What rates do you offer?
Our dealership works with many financing institutions to bring the most competitive rates and terms on vehicle financing. We offer flexible rates, terms, and payments so that you can obtain the loan or lease payment that fits your needs. The rate is understandably influenced by a number of factors including your credit history, the term of your loan or lease, the amount financed on leases. The monthly rent is determined by the residual value of the vehicle you select. Financing through our dealership lets you enjoy a quick, competitive and straightforward way of getting your new vehicle.
How do I make my down payment?
A down payment may be in the form of cash, trade or check. If there is a balance due on your trade we'll pay it off!
Can I finance taxes, registration, and other transaction expenses?
Taxes, registration fees, and other transaction fees can be normally financed with lender's approval.
Can I include the cost of other Protection Plans and accessories in the lease or financing?
Yes, you typically can. BMW offers many accessories to personalize your vehicle or for your individual life-style. In addition to a number of protection plans that protect or extend coverage to fit your driving habits are available.
What is the difference between a loan and a lease?
When you obtain a loan, your down payment and monthly payments go toward the total purchase price of the vehicle. When the term of the loan is complete and the loan is paid in full, you own the vehicle. With a lease, you make monthly payments for the term of that lease. Once the term of the lease is complete, the vehicle is returned to the lessor.
For more information on Lease vs. Purchase refer to the "Vehicle Leasing" located under the Finance section of this website.
The correct financing option largely depends on three factors: what you want to drive, how much you plan to drive it, and how long you want to keep it. It might be preferable to lease rather than obtain a loan if:
- You prefer to trade in your car every three years or less.
If these considerations do not apply to you, it might be better for you to get a loan if:
- You plan to enjoy your vehicle for a long time.
- You want the maximum flexibility regarding the number of miles you drive.
- You want control of the length of time the vehicle is in your possession.
Typically, monthly payments on a lease are significantly lower than if you obtain a loan while borrowers enjoy greater flexibility in terms of ownership.
Financing Navigation
Contact Information
- BMW of Bel Air
-
1705 Conowingo Road
Bel Air, MD 21014 -
- sales Sales:
- (877) 663-3046
- parts Parts:
- (877) 663-3046
Finance FAQ
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Tip!
Loan payments contribute to the eventual ownership of a vehicle, while lease payments apply only to the short-term use of a car.
Tip!
Owning a lease vehicle is possible if purchased outright after the lease period ends.
A typical lease period runs between 24 and 48 months.
Tip!
Three important factors - adjusted capitalized cost, residual value and the money factor - determine the monthly rate of a lease.
Tip!
Closed-end leases set a fixed residual buy price at the beginning of the term, while open-end deals base the final buy price on a vehicle's actual market value at the end of a lease.
Tip!
Pay more money down initially to reduce monthly loan payments. Otherwise, a typical down payment ranges between 10 to 20 percent of the total cost.
Tip!
Many used vehicles require down payments of at least 20 percent and include interest rates between 9 to 10 percent.
Tip!
Lease agreements usually limit mileage from 12,000 to 15,000 miles annually. Beyond these figures, fees in the range of $0.10 to $0.25 per mile begin to accumulate.
If you plan on customizing your vehicle, you need to finance with a loan. Leased vehicles must be returned under factory specification.