ED Financing Options

IbanezGod · 04-27-2010, 05:14 PM

Anyone know banks that are willing to hand out loans for ED cars. Issue I find is that you have to start paying for the car 45 days after you sign your agreement of purchase. Thing is you don't have the car since it's in Germany! Also takes weeks to receive in the US. So from what I hear most financial services won't lend you $ since you don't have a cost of ownership and papers.

Seems the only option is to go through BMW FS.

Thoughts?

Crazy Bimmer · 04-27-2010, 05:27 PM

You typically do the financing couple days before you leave for your trip. They might of course run a credit check and all that jazz beforehand though. But the 45 day count down doesnt start till you completely fill out the paperwork right before you leave.

They wont let you pick up the car at the Welt unless its paid for.

My car made it to the U.S right when my first payment was due if that helps.

outie · 04-27-2010, 08:04 PM

You are correct that many banks will not do it, but Penfed (Pentagon CU) does it and with a great rate. BMWFS is definitely not your only option.

04-27-2010, 05:14 PM	#1
IbanezGod 997TT, X5M 95 Rep 975 Posts Drives: 997TT, X5M Join Date: Jul 2009 Location: Philly iTrader: (0)	ED Financing Options Anyone know banks that are willing to hand out loans for ED cars. Issue I find is that you have to start paying for the car 45 days after you sign your agreement of purchase. Thing is you don't have the car since it's in Germany! Also takes weeks to receive in the US. So from what I hear most financial services won't lend you $ since you don't have a cost of ownership and papers. Seems the only option is to go through BMW FS. Thoughts?
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04-27-2010, 05:27 PM	#2
Crazy Bimmer The Jesal 391 Rep 5,859 Posts Drives: E90 M3 Join Date: Nov 2005 Location: Chicago IL iTrader: (20) Garage List 2009 BMW M3 [0.00]	You typically do the financing couple days before you leave for your trip. They might of course run a credit check and all that jazz beforehand though. But the 45 day count down doesnt start till you completely fill out the paperwork right before you leave. They wont let you pick up the car at the Welt unless its paid for. My car made it to the U.S right when my first payment was due if that helps. __________________ 2009 E90 M3 - SOLD
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04-27-2010, 08:04 PM	#3
outie Lieutenant 92 Rep 566 Posts Drives: 2022 Porsche Taycan GTS Join Date: Feb 2009 Location: CA iTrader: (0) Garage List 2022 Tesla Model X [0.00] 2023 McLaren 720S S ... [0.00] 2022 Porsche Taycan ... [0.00]	You are correct that many banks will not do it, but Penfed (Pentagon CU) does it and with a great rate. BMWFS is definitely not your only option.
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