Can you change loan term after the fact?
11-07-2009, 10:53 AM
#1
Members
Thread Starter
Join Date: Oct 2009
Location: SF Bay Area
Posts: 143
Likes: 0
Received 0 Likes
on
0 Posts
My Ride: 550i
Model Year: 2008
So BMW has the .9 deal going on still and I'm interested in taking advantage of it. I'd like to maximize the two monthly payments, but after the first two I'd rather not end up with a $1k month car payment. Is it possible to change the loan term to a longer term (thus lowering the monthly) after the fact, or is that not possible? Would this be a refinance thing?
11-07-2009, 11:12 AM
#2
Contributors
Join Date: Feb 2009
Location: Irvine, CA
Posts: 1,373
Likes: 0
Received 0 Likes
on
0 Posts
My Ride: Titanium Gray 550i, Cold Weather Package, Premium Sound Package, Sport Package, Shadowline trim, Parking Distance Conrol, Xenon, Adaptive Headlight Control, Navigation System, Satellite
I believe the 0.9% APR is offered on a 36 month term. If you need longer term, contact BMW Financial and explain your situation, with luck they may agree to modify. If they do, I don't think you will be getting the same APR. 
11-09-2009, 06:00 AM
#3
Senior Members
Join Date: Jun 2007
Location: Atlanta, GA
Posts: 1,845
Likes: 0
Received 1 Like
on
1 Post
My Ride: 2008 535i:
(8/07 Build) Metallic Bronze, Beige NASCA Leather, Ventilated Seats, Sport Pkg, Cold Wxr Pkg, Logic-7 Sound, HUD, Night Vision, PDC, Split Rear Seats, NAV, Premium Pkg, Comfort Access, HD Radio, Sport Auto Trans
Current mods: M-Aero Kit, JB4, Motorcepts 6000k HID Foglamps
Umnitza ICE-Lite 10w LED 6000k AE's
1992 Camaro RS:
Fully Restored w/Custom Interior, 5.0L V8, T-tops, OEM Z28 Foglamps, Inst Cluster, & Spoiler, Custom Sound, Too many engine mods to list
Originally Posted by Frank5er' post='1049627' date='Nov 7 2009, 03:12 PM
I believe the 0.9% APR is offered on a 36 month term. If you need longer term, contact BMW Financial and explain your situation, with luck they may agree to modify. If they do, I don't think you will be getting the same APR.
I can't vouch for BMWFS since I always use my credit union to finance car purchases. Usually terms like you are trying to get only apply to people with near perfect credit and specific cars. G/L
11-09-2009, 07:21 AM
#5
Contributors
U can change anything after the fact, as long as both parties agree 
11-09-2009, 08:04 AM
#6
Senior Members
Join Date: Jun 2007
Location: Atlanta, GA
Posts: 1,845
Likes: 0
Received 1 Like
on
1 Post
My Ride: 2008 535i:
(8/07 Build) Metallic Bronze, Beige NASCA Leather, Ventilated Seats, Sport Pkg, Cold Wxr Pkg, Logic-7 Sound, HUD, Night Vision, PDC, Split Rear Seats, NAV, Premium Pkg, Comfort Access, HD Radio, Sport Auto Trans
Current mods: M-Aero Kit, JB4, Motorcepts 6000k HID Foglamps
Umnitza ICE-Lite 10w LED 6000k AE's
1992 Camaro RS:
Fully Restored w/Custom Interior, 5.0L V8, T-tops, OEM Z28 Foglamps, Inst Cluster, & Spoiler, Custom Sound, Too many engine mods to list
Originally Posted by vikingshelmut' post='1050682' date='Nov 9 2009, 10:19 AM
I was just there on Saturday, and according to the sales rep they have 36 and 48 month terms for the .9 right now.
Oh and I forgot to add to my last post - there is usually a considerable down payment required (10-20%)
Keep negotiating - hope it works out!!
11-13-2009, 09:44 AM
#7
Contributors
Join Date: Sep 2008
Location: Massachusetts, USA
Posts: 2,718
Likes: 0
Received 1 Like
on
1 Post
My Ride: 2006 525XI, Jet black on Dakota beige. Premium and winter packages. I consider myself a purist and intend to keep my car absolutely stock and shiny.
2008 328I Convertible, Sapphire black on beige interior. Premium package, NAV, iPod adapter.
Retired: 2002 325I, Titanium silver on black leather. Premium package. Absolutely stock and proud of it.
Originally Posted by skelevirus' post='1050728' date='Nov 9 2009, 11:21 AM
U can change anything after the fact, as long as both parties agree
11-20-2009, 02:22 PM
#8
Members
Join Date: Nov 2009
Posts: 47
Likes: 0
Received 0 Likes
on
0 Posts
Originally Posted by porsche911targa' post='1054064' date='Nov 13 2009, 01:44 PM
Theoretically you can, but most financial institutions will not allow any changes after the fact, and since this is BMW we're talking about, it would have to be a pretty cold and snowy day in hell for them to allow you to do that. In Mass. you have three days to back out of any contract, after that, you are stuck with whatever it is you signed for. G/L
They may let you do it, but I think they will do it on a deal by deal basis...
Oh, BTW, I did not have to put anything down...but have excellent credit...
Good luck!
Thread
Thread Starter
Forum
Replies
Last Post