If you’re looking for a fantastic luxury vehicle, any BMW vehicle will fit the bill. And once you know that this is the type of car you want, it’s time to think about the financial aspect. Our BMW finance center goes over your options.
New or Pre-Owned
The first thing to think about is whether you want a new or pre-owned model. You may also want to consider a BMW Certified vehicle. Once you have this pegged down, you will be able to get a good idea of how much money you will need to borrow.
The Trade-In Factor
Do you have an older car you’re looking to replace? If so, you should consider trading it in to use its value towards your purchase. Used cars can be worth a lot of money right now, and a trade-in could help you substantially cut your costs by letting you supply a bigger down payment.
Loan Term
Now you’ll need to think about the length of your loan. Generally, loan terms are between 24 and 84 months. You may be eager to pay back the money as quickly as you can with a shorter term, but you have to remember that this will raise your monthly payments. A very long loan term will cut those, but you will end up paying more in interest. Somewhere in the middle is probably your best option.
If you have questions about the financing process, feel free to contact BMW of Catonsville. Or if you’re ready to get things started, you can fill out our online application to get pre-approved for a loan. We will then be in touch to discuss the next steps.