Navigating Your Financing Options

Navigating Your
Financing Options

Rallye BMW Helps You Explore Your Financing Options

Buying a new BMW doesn’t have to be challenging, especially when you shop at Rallye BMW, conveniently located in Westbury. Our experts will work with you and help you explore your financing options, regardless of your current circumstances. For all of your car-buying questions and concerns, you can count on Rallye BMW!

New Vehicle Financing Made Simple

When you see a new BMW in our inventory that you can’t wait to drive around Syosset, we’ll help you with the next steps. We’ll work together to create a custom finance plan that works for you. We take advantage of our network of lenders to help you get the best financing rates possible.

What’s the difference between financing and leasing?

Financing a vehicle means getting a loan to pay the entire vehicle amount. Leasing is essentially renting out the vehicle for a certain period of time. Leasing is usually cheaper because you’re only paying for the amount the vehicle will depreciate, but when you lease a vehicle, you don’t own it.

What's a good interest rate?

The kind of interest rate you’ll be able to get when financing a new vehicle will vary depending on your credit score. To see what kind of interest rate you might be able to get, apply for financing online!

How much should a down payment be?

The more you’re able to put down upfront, the lower your monthly payments will be overall. It’s recommended that you put down at least 10% to 20% of the car’s total price.

Why Consider Financing a Used Vehicle?

While we can help you secure fantastic interest rates on new BMW vehicles, we also have plenty of pre-owned options to choose from. Financing a used vehicle can help you secure a great vehicle to drive around Roslyn while also having lower monthly payments compared to financing a new vehicle. Financing a used vehicle also means lower service costs, lower insurance rates, and peace of mind knowing that our used vehicles are thoroughly inspected for quality and assurance.

Can you lease a used vehicle?

You can lease a used vehicle! Usually, you’ll be able to lease a certified pre-owned vehicle, and many certified pre-owned options are still under warranty coverage.

What’s the difference between pre-owned and certified pre-owned?

A certified pre-owned vehicle is a pre-owned vehicle that must meet a certain set of requirements by its manufacturer. Essentially, certified pre-owned vehicles have like-new quality without having the same kind of price tag as a brand-new model.

What are the requirements for a certified pre-owned BMW?

As we mentioned before, certified pre-owned vehicles must meet a certain set of requirements, which are different for every manufacturer. For BMW, here are the requirements a certified pre-owned vehicle must meet:

Must be at least five model years old
Must have less than 60,000 miles on the odometer
Must pass a full vehicle inspection
Must have an updated CARFAX® or AutoCheck® Report

Financing Solutions for Every Credit Score

We know that every driver in the Jericho area is different, and we understand that not everyone has the same circumstances, especially when it comes to credit scores. We work with every customer who walks through our doors to customize a financing solution that fits everyone, regardless of credit score! So if you’re ready to find a new or pre-owned BMW, even if you have less-than-ideal credit, visit our dealership today.

What is a good credit score?

A “good” credit score isn’t necessarily a set number, as it’s more of a range. If you have anywhere between a 670 and 740 credit score, then that’s a good start.

Why is it important to have a good credit score?

Lenders look at credit scores to see how likely you are to pay back a loan. The better your credit score, the more likely you can get approved for a loan with a good interest rate.

How can I raise my credit score?

If your credit score isn’t where you’d like it to be, there are some things you can do to improve it.

Pay off small debts.
Pay your bills on time.
Have a co-signer.
If you have a credit card, don’t exceed your credit limit.

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