Bimmerfest BMW banner

1 - 7 of 7 Posts

·
Registered
Joined
·
40 Posts
Discussion Starter #1
Does anyone know if BMW allows a loan transfer? I have a 2006 E60 low miles around 25K, sport package great condition. I owe around 20K and seriously considering selling it. Would a loan transfer be ideal or even appealing?

-Jay
 

·
IntarWeb Stalker
Joined
·
10,068 Posts
That is interesting thought. I have no idea of BMW would allow this but am curious. I would imagine the recipients credit score, DTI, and income have to be as good or better then yours.

I'd imagine a no would be in order.
 

·
in HIS hands :)
Joined
·
1,730 Posts
jay,

go through swapalease. bmwfs is one of the most helpful and easy finance companies to deal with. they do it all the time. i transferred my mini lease in less than 2 weeks. all the best. as a hint, if you want your lease transfer to go quickly, you need to offer an incentive. even if it's 1 month's payment - most people search potential leases that have some sort of incentive.
 

·
Registered
Joined
·
40 Posts
Discussion Starter #4
Right, this isn't a lease. It's straight 60 months at 1.9%. I did call BMW Finance and they don't do a loan transfer, they however will do a 3rd Party Refinance, which seems ok. They also work with most banks to do any transfers. Having no experience with private sells I'm not entirely sure what I'm getting into. At the moment I have two BMW's and the wife asked I get rid of the 330i - her car. Not sure why, possibly I think she want's the extra money to save.

-Jay
 

·
IntarWeb Stalker
Joined
·
10,068 Posts
I recommend you tell your buyer to figure it out. They can go to their bank and get a loan. If BMW is willing to help, especially since you are going to buy a new BMW, then thati s great...other then that it is the buyers responsibility not yours.
 

·
in HIS hands :)
Joined
·
1,730 Posts
Right, this isn't a lease. It's straight 60 months at 1.9%. I did call BMW Finance and they don't do a loan transfer, they however will do a 3rd Party Refinance, which seems ok. They also work with most banks to do any transfers. Having no experience with private sells I'm not entirely sure what I'm getting into. At the moment I have two BMW's and the wife asked I get rid of the 330i - her car. Not sure why, possibly I think she want's the extra money to save.

-Jay

sorry, jay. i meant that swapalease *seemed* to also have cars for sale there, not just lease transfers, and added that it was a good experience for me. (getting old, you know. :rofl:)
regardless, wish you the best...
 

·
Registered
Joined
·
40 Posts
Discussion Starter #7
sorry, jay. i meant that swapalease *seemed* to also have cars for sale there, not just lease transfers, and added that it was a good experience for me. (getting old, you know. :rofl:)
regardless, wish you the best...
No worries... I'm old too :)
 
1 - 7 of 7 Posts
Top