[brokalee]

if using a lender other than bmw ...when applying for how much of a loan you need ... do you apply with the downpayment already deducted or do you apply for a loan on how much the car is going to cost?

[carbo]

You will only finance what you borrow but they usually want to know purchase price and how much your putting down, They will finance 70% of purchase price alot easier than 100%. They don't want to finance more than the car is worth and it's value drops when you drive it off the lot. Hope thats what you wanted.

[brokalee]

Originally Posted by carbo

You will only finance what you borrow but they usually want to know purchase price and how much your putting down, They will finance 70% of purchase price alot easier than 100%. They don't want to finance more than the car is worth and it's value drops when you drive it off the lot. Hope thats what you wanted.

thanks for the help!

[Asiann]

Originally Posted by brokalee

if using a lender other than bmw ...when applying for how much of a loan you need ... do you apply with the downpayment already deducted or do you apply for a loan on how much the car is going to cost?

No need to put a downpayment down unless you are putting down more than atleast $3k. 100% finance otherwise. Exactly as Carbo mentioned already. Rates are better with shorter length of loan!