For many people, the process of getting a loan for a new or used motorcycle purchase can be an intimidating, frustrating and (often unnecessarily) expensive proposition. Here at BMW Motorcycles of San Francisco we try to remove some of the typical 'smoke and mirrors' by helping you secure a loan with BMW Financial Services (BMWFS) or one of the local credit unions we work with via a system called 'CUDL'. We'll help you every step of the way so you can stop worrying about credit scores, down payments and monthly payment and start focusing on where to go on your next ride.
If you are interested in financing a motorcycle the first step is always to submit a credit application to lenders to see how much money they are willing to lend to you and at what interest rate. We almost always recommend submitting a credit application to BMWFS first for a few reasons:
Of course, we understand some people have a pre-existing relationship with a local credit union and would prefer to finance their next motorcycle with a familiar lender. If you'd like to explore financing through a credit union please visit our CUDL information page to learn how we can make credit union financing as smooth as possible. Otherwise, below is more information about financing a BMW motorcycle using BMWFS.
BMW FINANCIAL SERVICES OPTIONS:
CREDIT UNION FINANCING:
BMWFS CREDIT APPLICATION:
There are two ways to submit a credit application to BMW Financial Services.
1) You can view the BMWFS credit application by opening the pdf version here. Please be sure to complete as much of the application as possible and then send us a copy via fax (415-625-2898) or e-mail ( firstname.lastname@example.org ). When you send a completed credit application to us we will submit it to BMWFS on your behalf at which point BMWFS will run a credit inquiry through one of the credit bureaus. After BMWFS has made a decision regarding your application, one of our sales staff will contact you with the results.
Unfortunately, BMW's website can be a little bit confusing because you have to go through the 'Payment Estimator' system before you can actually submit a credit application. Here are detailed instructions:
- Access the BMW Payment Estimator to compare financing options and determine a payment (links above take you to the 'Payment Estimator')
- Apply for credit using your preferred payment option
Once you proceed to the application, here's how it works:
- Confirm that the motorcycle you are interested in buying is correctly shown in step one after hitting the 'Continue' button.
- Confirm the BMW Center where you would like BMWFS to send the application (hopefully this will be BMW Motorcycles of San Francisco but we understand if you're out of the area)
- Enter information about you and your co-applicant (if you have one)
- Enter information about your employment and finances
- Your application will be encrypted for security, transmitted to BMW Financial Services and processed through us (or your selected BMW Center). On the business day after submitting your application we (or your selected BMW Center) will automatically receive your credit decision and information from your consumer credit report.
- If you submit your application during normal business hours (Monday - Friday, 8am - 5pm EST), you will receive an e-mail decision from BMW Financial Services within 24 hours of your submission.
- If approved, your approval will remain valid so long as you complete the financing transaction and take delivery of your vehicle withing 60 days from date of application.
The BMWFS On-line Credit Application is for U.S. residents only (applying as individuals, not as a business). This is an official credit application and, as such, a credit bureau inquiry under your name will be processed each time you submit an application. Any credit approval is valid at the selected BMW Center only and is subject to finalization of vehicle selection and financing structure by your chosen BMW Center. If a higher credit line is required, additional information may be requested by your BMW Center.
If you prefer to fill out the BMWFS credit application at our dealership please be aware that approvals and/or denials from BMWFS usually take 15-60 minutes to process. So you might have to enjoy our customer lounge and a free cup of coffee while you wait... Hopefully, that's okay.
If you have questions PLEASE call our sales department at 415-503-9954 or e-mail us at email@example.com so we can assist you with the BMWFS Credit Application.