Rick Hill BMW: Ask a Finance Expert FAQ
Searching for an exceptional interest rate on a new BMW X3 or X5? Look no further than Rick Hill BMW. Dedicated to assisting customers in finding suitable car loans and credit options, our finance team ensures total satisfaction for everyone. At our Kingsport BMW dealership, we prioritize our customers' needs, regardless of their financial background.
For a clearer understanding of the auto financing process, we've sought the expertise of Zach Brewer, Finance Manager at Rick Hill Imports, along with our team of professionals. Explore their insights and visit our showroom to discuss your options with a BMW finance specialist.
How much deposit will I need to finance a car?
While deposits are typically not mandatory, any amount contributed upfront will help reduce the monthly payment.
What will my interest rate be?
Interest rates are determined by factors such as your credit score, the vehicle's year, make and mileage.
Can I reduce my monthly payments?
Yes, monthly payments can be adjusted based on the chosen down payment and the terms that are set during the finance process. Additionally, you may refinance your vehicle in the future.
Can I cancel my agreement?
Once all the paperwork is signed, cancellation is not possible, except in cases related to the lemon law.
Can I settle the agreement early?
In general, financial institutions require at least six months of payments, particularly when loyalty or rebate credits are involved. If paid off early, these credits will be applied to the total loan amount due.
Can I add a service and maintenance package?
If the loan-to-value permits, a service and maintenance package can be included in the finance plan. If not, the package can be paid for separately using cash, check or credit card.
Can I still finance a car if I have a low credit score?
Yes, financing a car with a low credit score is possible, depending on the loan-to-value and DTI (debt to income ratio per month).
I recently financed a vehicle. However, since then, I need a different car. What should I do?
Visit Rick Hill BMW to explore options for trading in your current vehicle.
Do you have any more questions about your BMW financing options? Contact Rick Hill BMW today to schedule a test-drive and speak with a specialist. We look forward to helping you drive home in a new BMW 3 Series or X3 for sale in Kingsport.