New guy question

delt31 · 08-22-2011, 04:51 PM

BIMMERPOST / Classifieds

Asking Price:

None

Item Interest

I see a number of you guys are selling these with leases which is clear however some are asking to sell straight out (no lease). In this type of situation, do these cars still have loans with the dealer (BMW) and if so, how would that work if I were to take over the loan. If there is no dealer loan involved, I'm assuming this would be straight cash for car and no financing available. If I wanted financing I would need to do it on my own (where the bank will prob crush me with a 10% IR) right?

Thanks for the clarification guys!

mmm def · 08-22-2011, 06:42 PM

I don't think you can just take over a loan. The current owner needs to pay the loan off either with a check from you or your lender and then you will have a loan for that car.

08-22-2011, 04:51 PM	#1
delt31 Private First Class 50 Rep 123 Posts Drives: TBD BMW Join Date: Aug 2011 Location: TBD iTrader: (0)	New guy question - looking to buy E90 BIMMERPOST / Classifieds Asking Price: None Item Interest I see a number of you guys are selling these with leases which is clear however some are asking to sell straight out (no lease). In this type of situation, do these cars still have loans with the dealer (BMW) and if so, how would that work if I were to take over the loan. If there is no dealer loan involved, I'm assuming this would be straight cash for car and no financing available. If I wanted financing I would need to do it on my own (where the bank will prob crush me with a 10% IR) right? Thanks for the clarification guys!
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08-22-2011, 06:42 PM	#2
mmm def Colonel 144 Rep 2,610 Posts Drives: 21 330, 19 ND2 RF, 11 RX350 Join Date: Dec 2006 Location: NJ iTrader: (0)	I don't think you can just take over a loan. The current owner needs to pay the loan off either with a check from you or your lender and then you will have a loan for that car.
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