BMW Financial Services handles promotional financing of both their cars and motorcycles. Over the years, I've financed several cars through them, including CPO vehicles, but never a bike.
I've just put a deposit down on a 2021 BMW R18 Classic First Edition, which is not just a motorcycle but a rolling work of art. Does anyone know whether the credit tiers are different for auto and motorcycle financing? BMW Motorrad has an offer of 0.9% financing on 2021 BMW R18 motorcycles, but I'm not sure what scores are needed to qualify for that rate.
At the moment, my best FICO 8 score is EX672 and FICO 9 is EQ676. These scores are likely to go up shortly because I've been aggressively paying down credit card balances. And since I have a previous relationship with BMW FS, I'm hoping they or the dealer can bump me up far enough to qualify for the 0.9% promotional rate.
Hey- how did this work out for you? Thinking of getting the new 2023 1000RR...
Starting Score: 529
@Doodles wrote:Hey- how did this work out for you? Thinking of getting the new 2023 1000RR...
@Doodles Thanks for asking. At the time, my scores didn't qualify me for the best promotional rates on the BMW bike. I ended up waiting until my scores were higher and purchasing the 2021 BMW R18 Classic then.
It's a great bike and BMW Financial Services offers some terrific rebates and incentives. As I recall, I got a promotional interest rate (not as good as originally offered earlier this year, of course) and BMW is making my first six loan payments. So all turned out well!
Thanks for the detail and congrats on the new scoot! Did you buy off of the dealership floor or did you order?
I wonder if I can negotiate the 6 payments like you did? The s1krr is in super high demand and with it being an order I'm not sure to what extent I am really in a position to negotiate.
My EX is just a touch under 700, 698 or so. You think that will get me best rate?
alternative is NFCU at like a billion percent. 