- The customer service number for BMW Financial Services is 1-800-578-5000. From 9:00 a.m. to 9:00 p.m. ET, live BMW Financial Services customer care representatives are available. Monday through Thursday, 9 a.m. to 6 p.m. ET Closed on Friday, Saturday, and Sunday.
- Dial 1-614-718-6350 to get customer support for international customers. From 9:00 a.m. to 9:00 p.m. ET, live customer support representatives are available. Monday through Thursday, 9 a.m. to 6 p.m. ET Closed on Friday, Saturday, and Sunday.
- Call 1-800-831-1117 if you have any inquiries about vehicles. From 9:00 a.m. to 9:00 p.m. ET, live customer support representatives are available. Monday through Thursday, 9 a.m. to 6 p.m. ET Closed on Friday, Saturday, and Sunday.
- Contact BMW Credit Card by calling 1-866-845-3079. Live customer care agents are on duty twenty-four hours a day, seven days a week.
In This Article...
How can I email BMW?
- Dial 1.844.4GENIUS to reach the BMW Genius Hotline (443-6487)
- Available Monday through Thursday from 8:00 a.m. to 9:00 p.m. (EST), on Friday from 8:00 a.m. to 6:00 p.m. (EST), and on Saturday from 10:00 a.m. to (EST)
- Contact bmwgenius@bmwusa.com if you’d prefer to send us an email.
How can I settle my BMW loan?
Yes, there is no penalty for paying off early. For best results, please coordinate your payoff directly with BMW Financial Services or your bank. There will be a period without payments until your total amount is repaid if you finish making your monthly installments ahead of schedule.
How can I contact BMW?
- Dial 1-844-4GENIUS to reach the BMW Genius Hotline (New Product Customer Care) (443-6487)
- Send an email to bmwgenius@bmwusa.com for the BMW Genius Hotline (New Product Customer Care).
- To reach customer service, dial (800) 831-1117.
Where is BMW’s corporate headquarters?
The BMW Headquarters, commonly known as the BMW Tower (German: BMW-Turm or BMW-Hochhaus), is a tall structure in Munich, Germany’s Am Riesenfeld neighborhood. Its name translates to “BMW four-cylinder.” Since 1973, the structure has been home to BMW’s global corporate headquarters. It was designated a protected historic structure in 1999, and many people point to it as one of Munich’s most remarkable instances of modern design. In-depth repairs started in 2004 and were finished in 2006.
What happens when my BMW credit contract expires?
BMW Hire Purchase is a straightforward and easy way to buy a BMW. We’ll send you a letter to remind you that your contract is about to expire. If all other payments have been made, just make the final payment, which includes the Option to Purchase Fee, and you will own your BMW*.
With BMW, can I refinance?
How it functions
For a period of time that you decide up advance, you will make small monthly installments each month.
An additional payment is required at the conclusion of the term and is fully revealed in writing up front so you may make plans in advance.
- You can select from OPTIONS made to simplify and ease your experience:
- With BMW Financial Services, you can refinance the remaining balance.
- With the one remaining cash payment, your purchase can be finished.
- If your car is worth MORE than the last payment, you can sell it or trade it in and keep the difference.
Benefits of BMW Select
Reduced payments.
With BMW Select, you may enjoy even more automobile for your money and keep your money in the bank working for you in states where tax regulations make leasing less advantageous.
Similar to a lease, you benefit from lower monthly payments for a predetermined length of time and flexible end-of-term alternatives.
Because it is your BMW, you may customize it to meet your specific wants and preferences without having to worry about an end-of-term inspection or a “extra wear” penalty.
In a BMW SELECT agreement, YOU are the owner of the vehicle, and BMW is THE ULTIMATE driving machine with NO mileage limitations.
What credit score is required for financing through BMW?
You need a credit score of at least 680 to have the highest chance of being accepted by BMW Financial Services. With a lower credit score, it is still feasible to be authorized for leasing or purchasing, but the rates won’t be as good.
Upon acceptance, BMW Financial Services often provides borrowers with low- and no-interest choices based on their creditworthiness.
BMW provides $1,000 off a new or certified pre-owned vehicle to recent graduates. In order to take advantage of this offer, a degree must have been earned within the last 24 months or the student must graduate within the next six months and have a confirmed job offer. There are additional requirements that must be fulfilled, such as a debt-to-income ratio of no more than 20%.
Can I pay off my BMW loan before it’s due?
Prepayment penalties won’t apply to you, or their total cost will be less than what you would have otherwise paid in interest. Early car loan repayment won’t put too much strain on your cash.
Does BMW intend to reduce my interest rate?
Your only financing option for leasing comes from BMW FS, which doesn’t negotiate or match prices. If you plan to buy the vehicle, you are free to forgo BMW FS’s uncompetitive rates and negotiate a lower rate with virtually any other lending institution.
Can I offer Carmax my rented BMW?
Yes! You can often sell your leased vehicle in a manner similar to that of any other financed vehicle. We will assess the vehicle, then get in touch with the lease company to get a payment quote and handle any equity you may have.
Can I return the financed vehicle?
You can return the vehicle to the lender if you used a Personal Contract Purchase loan to finance it and have previously paid off at least 50% of the balance. Keep in mind that fees and interest are also included in the 50% number. Your PCP contract will include a clause referred to as voluntary termination that allows for this.
What will happen if the value of my car exceeds the balloon payment?
Even if you don’t intend to keep the automobile, paying the balloon payment at the conclusion of the contract if your car is worth more than that amount could make you better off in the long run.
- You may make a quick sale of the car and pocket the extra cash. Simply put, you are receiving some of what you have previously paid back; this is not profit.
- You can also trade in the car for a different one. The auto dealer will pay the balloon payment on your behalf, thus purchasing the automobile for themselves. The extra money can then be used to purchase another car. Typically, money goes toward the down payment to lower the monthly car payments.
- With the lender’s approval, it might be feasible to sell the automobile at the conclusion of a PCP contract. You get to keep any money left over after the balloon payment, with the majority of the revenues going to the lender to pay off the debt.
Because lenders typically set the balloon payment to be a little less than what they anticipate the automobile to be worth, cars are frequently worth more than the balloon payment. This lessens the possibility that an unanticipated decline in auto values may leave them with automobiles worth less than the outstanding credit sum.
If you do return the automobile with equity in it, that money will go into the lender’s pocket rather than your own because equity is effectively the sum of any payments you’ve made over the amount of value the car has actually lost.
What if the residual value of my car is higher?
Additionally, in the current market climate, if your car is worth more than its residual value, you have more negotiation power when it comes to lease-end fines for excess mileage or severe wear and tear.
Is it wise to pay off your automobile before it’s due?
If there are no additional costs and you have no other debt, paying off a car loan early can save you money. Even a few additional payments can significantly cut your expenses. Do your study to find the ideal approach for you while keeping in mind your financial circumstances, monthly goals, and the cost of the loan.
If you buy out a lease, do you lose money?
Reasons are straightforward: You won’t be fined for exceeding your allocated mileage or having a dent in your fender when you complete a lease buyout. When determining whether purchasing your lease is the best course of action, take those penalties into account.
Does voluntarily leaving have an impact on my credit score?
Your credit score will likely reflect the voluntary termination. However, it is unlikely to have a significant effect on your ability to secure car financing in the future as long as you pay your 50% repayment amount and any additional fees (for example, for wear and tear).
It can be tempting to put off paying off the remaining payments on your auto loan if you’re having financial difficulties, but you should absolutely avoid doing this. Arrears result from unpaid debts and can lower your credit score, make it more difficult for you to secure auto financing in the future, and raise your annual percentage rate (APR).
You must be certain that you can make your payments both now and in the future before accepting car financing. However, it may occasionally be necessary to terminate your vehicle credit deal early for a number of factors (many of which are unforeseen). Although voluntary termination is a drawn-out procedure, we hope our counsel will make it less difficult for you.