BMW Financing Tips
Are you a first-time car buyer planning to finance your purchase of a new or used BMW vehicle? The process of buying a new (or new-to-you) car for the first time can be exciting, but also a little overwhelming, that is why the friendly and professional team at BMW of Northwest Arkansas is here to assist you with all of your BMW finance needs. We are here to help you navigate the entire process and can give you some helpful financing tips along the way, including the following.
Questions to Ask Before Financing
Before you choose a BMW model to finance, you’ll want to determine what your budget is, what your credit score is, and how much of a down payment you can afford. Your credit score also plays a big part in deciding what type of auto loan you qualify for, and what your monthly payment and loan terms will be.
While a down payment is not required, the amount of money you put towards the initial purchase of a vehicle can have a positive impact on your future monthly payments. The higher your down payment is, the more money you have already paid off for the vehicle, decreasing the amount remaining on what you owe for the vehicle. A good rule of thumb is to make a down payment of 20% or more, and take out a car loan with a term of four years or less.
Car-Buying Research
Finding the right vehicle that fulfills your driving needs and desires is critical when buying a car for the first time. First, you should research what type of car you want (like a sedan or an SUV), and narrow down some key attributes or qualities you would prefer for a new BMW vehicle. By determining a specific make or model, key features, and a budget, you can pinpoint exactly what vehicle will fit your needs.
Our new BMW inventory page on our website is a great resource to utilize when exploring your options. If you require any assistance or guidance, our BMW sales department is happy to help aid you in your new car buying research.
Test-Drive Before You Buy
Test-driving a vehicle before you buy is a great way of finding out how the vehicle handles and maneuvers, and whether you will feel comfortable behind the wheel of the vehicle. We have many vehicles you can test out, such as the new 2024 BMW 8 Series, 2023 BMW XM, 2023 BMW X1, as well as countless other exceptional luxury models that could be yours, here at BMW of Northwest Arkansas.
Discuss Your BMW Finance Options Here
At BMW of Northwest Arkansas, we offer trusted and reliable financing, as well as flexible and reasonable financing terms and agreements. Our Northwest Arkansas BMW dealership is available to assist you with all of your financing questions and concerns, and help find the best deal for you and your budget. The first step in the process is to apply for auto financing in Bentonville, AR through our website, and once you’ve been approved, we will reach out to finalize all of the details of your agreement.