Hi Hackrs,
Would anybody know what are the loan origination fees for BMW Financing (not leasing) nowadays? I know the current interest rate is 4.59% and I’m also aware that there are more competitive rates out there, but there are BMW incentives I qualify for that would need the BMW financing. I’m in Southern California.
I tried Edmunds and they didn’t have this info.
Thanks in advance!
I’d suggest refinancing immediately when you can to get a better rate over the lifetime of the loan, certain institutions will still consider it a new car.
I was once told that origination fees on auto loans were only legal in two states.
And yes, I know it would be useful if I could list both of them, but unfortunately I can only remember the one that applied to me (Ohio).
In general, there are no origination fees. I’ve had a lot of customers choosing the balloon, because some of the balloon percentages are really high, and there hasn’t been an origination fee on any of them or on a traditional finance.
Also, @SSB-LA, the interest rate is 4.59% on any 1, 2, 3, or 4 series (X included). Anything 5 and higher is 4.29%, so make sure you’re getting the correct rate without any markup.
Thanks a lot @HersheySweet, @trism and @AP919 for your feedback! A quick follow-up question, do you know if there are early prepayment fees in BMW Financing? Cheers!
Nope, no prepayment fees. I’ve had people finance a small amount just to capture loyalty and/or military.
Much appreciated!!
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