No need to wait for the BMW you want. Make it yours with competitive financing or leasing
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Our online calculator can find the best option for your lifestyle. Begin now.
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Your credit score will shape your interest rate. Check your credit rating without impacting your score! Financing options for all credit situations are available at Bavaria BMW.
Advantages of Bavaria BMW financing
We’ll get you the right payments no matter what your lifestyle or budget. You can pay for your vehicle by borrowing, leasing, or with cash in the form of a certified cheque or bank draft.
Some car buyers such as young people haven't had the time to develop a credit history. Even if you don't have a down payment or vehicle to trade-in, we can assist. We work closely with Canada’s big banks and we’ll get you flexible financing or leasing options.
Bad or no credit
No matter your credit situation, whether you have a poor credit score, have been denied a bank loan, or even declared bankruptcy, we have solutions to help. Our team of financing specialists can work with you to find an affordable financing option that fits within your budget.
Just made Canada your new home?
Just moved to Canada? Don't forget that your credit score doesn't move with you. The good news is that you can still get qualified for a loan with us, and in no time, you'll be hitting the Canadian roads with your first car!
High rate on an existing loan
If you currently have a loan and feel like you're paying too much, we've got you covered. Our parent company, Go Auto, can take over your existing loan, provide you with a better finance rate and lower payments. So, let us help you save money and get a better deal!
BMW's options, tailored to your individual needs
Owning a BMW brings satisfaction and it gives the freedom of unlimited mileage and customization. Bavaria BMW can explore BMW's finance offers for you.
Standard Finance - a straightforward choice
BMW's Standard Finance option is easy and simple, with competitive interest rates and contract terms from 24 to 84 months. If you are approved, you can choose between weekly, bi-weekly, or monthly payment options. Contract terms: 24, 36, 48, 60, 72, or 84 months, depending on the vehicle model year.
OwnersChoice® - owner enjoyment with the flexibility of leasing
Make equal monthly payments for the term of a contract, with a final balloon payment for the end balance. OwnersChoice® monthly payments are usually lower than leasing. The length of the contract is flexible and so is the end amount, which you can pay off at any time without incurring a penalty. Keep your BMW at the end of the contract by paying off or refinancing the balance if you haven't done so already. Contract terms: 24, 36, 48, or 60 months, depending on the vehicle model year.
Added protection for you and your investment
BMW Canada has Protection Products to address common and expensive incidents that could impact the enjoyment of your BMW. All the products provide security and value. They help you protect yourself and your loved ones, and your BMW. Please contact Bavaria BMW for more information and the full details of each option.
Why BMW Protection Products?
Protection Products are excellent investments that can help you protect yourself and your BMW. Some of them, such as Appearance Protection, are backed with a manufacturer's warranty against peeling, cracking, and hazing. Tire and Rim Protection takes care of tire and rim repair or replacement costs. Work is completed by BMW Certified Technicians with authentic BMW parts. Both these products help keep your vehicle in amazing condition for years to come.
Select from these BMW Protection Products
- Loan Protection
- Excess Wear & Use Protection
- Tire and Rim Protection
- Appearance Protection
- Anti-theft protection
- Limited Debt Waiver
- Mechanical Breakdown Protection.
Finance vs. lease?
When deciding on financing versus leasing, what's right for one person can be totally wrong for another.
Here's what's needed to get approved for finance or a lease
Employment & income
Generally, to be eligible for our financing options, you need to have been employed at your current job for a minimum of three months and have a monthly income of at least $1,800. We also consider other forms of income, such as certain types of government assistance, so feel free to contact us to see if you qualify.
While a down payment may not always be necessary, having one can improve your chances of getting approved for a car loan. The less money you need to borrow, the more favorable your loan application looks to lenders. So, although it may not be required, having a down payment can be helpful in securing a car loan.
You need a valid driver’s license and be the age of majority in the province that you live in.
To finalize your loan application, please provide your current address details, including your monthly rent or mortgage payment. This allows a lender to assess your financial situation and determine your ability to make loan payments on time. So, make sure to have this information ready when applying for a loan.
Most lenders want to automatically withdraw monthly payments from your bank account. Automatic payments can be set up when you provide a void cheque or a stamped pre-authorized payment form.
Please give your full name, date of birth, phone number and email address to apply for a car loan.
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Paying off your Bavaria BMW car loan
Paying off your loan early
Most banks let you pay off what you owe after some time has passed, and for most banks, that time is six months. Ask your bank or us how if this is possible.
Changes to payments
Almost all lenders let customers make lump-sum payments or increase their regular payments. Contact us or your lender for details.
Extending a loan term
Once your loan is in place, most lenders won’t extend the financial agreement. Check with Bavaria BMW’s finance specialists or your lender to find out if an extension is possible.
Car loan insurance
We all know about car insurance, but did you know you can insure your car loan, too? How would you make your regular payments if you lost your job or became ill? Insurance can protect you. Ask Bavaria BMW about this kind of insurance.
If you have a low income, we have a solution for your auto needs! Earning $1,800 a month or more can mean you can borrow for a car.
Switching a loan to another vehicle
Want to change vehicles but have a car loan? We can help. We’ll help you select your next car, pay off what you owe, and add any outstanding amount to your new agreement.
BMW Canada FAQ
Can I pay off my BMW finance early?
Most banks and lenders in Canada allow you to pay off a loan after a period of time has passed from the start of the contract - usually six months. Contact your lender or us for more details.
What is the maximum deposit for BMW finance?
You can usually make a deposit of $1,000 or $2,000. For a down payment, most lenders like to see between 10% and 20% as a down payment.
How long does BMW finance approval take?
This will depend on your circumstances. If you have a high credit score and make a down payment, approval will likely happen quickly. On average, it can take a few minutes to a few days.
Can I finance my BMW with a personal loan?
Yes, you can, but most personal loans have higher interest rates and the long-term cost will be more than a loan from Bavaria BMW or BMW.
What is a balloon payment and does it really help?
A balloon payment is a larger lump sum due at the end of a loan. If you cannot afford or do not want higher monthly payments, a financial contract with a balloon payment at the end is usually a good option.
Is it possible to finance add-on services and products with BMW Finance?
Yes, some products and services can be paid for with a loan from Bavaria BMW or BMW Finance. For example, Protection Options can be financed through a loan. Please contact us to find out exactly what products and services can be included in your finance.
Is there a grace period for BMW Financial?
There are times when BMW will provide a grace period. You must BMW Financial at 1-800-300-0269 if you think your payment will be late.
Can I extend my BMW finance or lease agreement?
There are occasionally situations when BMW Financial will consider extending a loan.
How do I dispute a late payment with BMW Financial Services?
If you believe there is any kind of issue with your loan or lease payments, contact BMW Financial at 1-800-300-0269.
How do I make an extra payment to BMW Financial Services?
All BMW Financial Services loans are open loans, so you have the option to pay it off early after a minimum of six months finance. The payoff is to be arranged directly with BMW Financial Services or your banking institution. Contact BMW Financial at 1-800-300-0269.
Can I end my BMW finance or lease early?
You can end a vehicle loan early by paying it in full. If you want to end the loan because you cannot afford the payments, speak to us, BMW, or your lender immediately. Explain your situation and ask if there are any options. If you want to end your lease early, you will likely be subject to financial penalties.
Can I transfer my BMW finance or lease agreement to another individual?
Loans are not transferrable. You can sell the car to someone and pay off your loan. Under certain conditions, leases can be transferred.