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      05-20-2010, 11:54 PM   #1
Feroz DDS
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Transferring BMW Select Finance

Hey guys I was wondering if you can transfer a bmw select finance deal. Im paying $745 a month with a balloon of 21,000 in 2014. My car is getting up to the 45,000 mile mark and wanted to see if I can transfer this deal. Take my equity in the car and just pay the same monthly payments? I don't know if BMWNA would allow a transfer.
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      05-21-2010, 12:43 AM   #2
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seems like your upside down on a 09 with 45k?
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      05-21-2010, 08:33 AM   #3
chumpion
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Not sure what equity you have in the car at this point. Can you explain what you are trying to do in some more detail?
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      05-26-2010, 11:19 AM   #4
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If by transferring the car to another owner, no you cannot transfer a select loan.

If by transferring the car to a straight out finance, yes you can do that. Call BMW Financial Services and ask them to transfer you to the BMW Refinancing Department. They will take care of you over the phone.

As far as equity, you most certainly have none. Depending on how much you put down (if around the $5,000 range) and depending on your deal (within $1000) over invoice, right now you are probably 4-7k in negative equity.

Hope that helps.

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      05-26-2010, 05:13 PM   #5
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      05-26-2010, 10:13 PM   #6
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Quote:
Originally Posted by Malekreza11 View Post
If by transferring the car to another owner, no you cannot transfer a select loan.

If by transferring the car to a straight out finance, yes you can do that. Call BMW Financial Services and ask them to transfer you to the BMW Refinancing Department. They will take care of you over the phone.

As far as equity, you most certainly have none. Depending on how much you put down (if around the $5,000 range) and depending on your deal (within $1000) over invoice, right now you are probably 4-7k in negative equity.

Hope that helps.

-Malek
Is that right? how come I didn't get an offer from BMWFS when I was asking what other options do I have? Do you still have to pay for the balloon payment after it's transferred to a straight out finance?!
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