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Compared to getting behind the wheel for the first time or taking a thrilling test drive, applying for BMW financing isn’t quite as exciting. However, with a little preparation, you can make finding the right loan plan with our team at Fields BMW Orlando and Winter Park a breeze. Keep these factors in mind when budgeting for your new drive.
The 20-4-10 Rule
If you get overwhelmed by the number of variables involved in financing a new car, just keep the 20-4-10 Rule in mind. By this rule of thumb, you should put at least 20 percent down on your new car, choose a loan that lasts for no more than four years, and dedicate no more than 10 percent of your income to transportation costs. Keep in mind that that 10 percent will also include costs like gasoline and service.
Additional Costs
When budgeting at home, don’t forget about additional fees and taxes involved in buying a car. You’ll need to pay our 6% sales tax here in Florida, along with registration fees, title fees, and other additional costs. If this is your first car, don’t forget to include the cost of adding car insurance when you’re calculating your monthly budget.
Special Offers
In addition to our new BMW leases and other discounts, you may qualify for special financing offers from BMW. If you’ve just graduated, take a look at the BMW College Graduate Program, which may make you eligible for lower rates and up to $1,000 off the sticker price. Military members and their families are also eligible for discounts on the entire BMW lineup — talk to our team to learn more.
Apply for BMW Financing in Orlando and Winter Park, FL
From finding the right car for you to supporting you through your application, we can help you through the entire car buying process at Fields BMW Orlando. Visit our Orlando and Winter Park, FL BMW dealerships and explore our wide selection, then talk to our team to learn more about BMW financing. Find out if you qualify for our specials, then drive off the lot in a new car today!