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The used BMW 530i David purchased already has 289,000 miles on it, ... Many people cannot afford the traditional financing for a car in 60 months or less. Longer loan periods allow for those with ...
But even after spreading the financial load over several years — the most common auto loan terms are 60, 72 and 84 months — many car owners still struggle to make their monthly payments.
The BMW Bank GmbH is a finance service and a company of the BMW Group. The company known under BMW Group Financial Services was founded in 1971 in Munich, Germany. [2] In 1973, the BMW Leasing GmbH was added – also situated in Munich. The fabricated products are BMW, MINI and Rolls-Royce Motor Cars. Worldwide BMW Group Financial Services are ...
The plaintiff, Dr. Ira Gore, bought a new BMW, and later discovered that the vehicle had been repainted before he bought it. Defendant BMW of North America revealed that their policy was to sell damaged cars as new if the damage could be fixed for less than 3% of the cost of the car. Dr. Gore sued, and an Alabama jury awarded $4,000 in compensatory damages (lost value of the car) and $4 ...
He sought financing through the car dealership for the $60,517.86 purchase price, but what came back from the credit union was an auto loan totaling $60,517.26 — 60 cents shy of the agreed price.
Studies have shown that the average per-unit finance cost can be higher when financing through a dealership than independent lenders. For example, one study found that the price increased by $674 when dealer financing was used, potentially due to additional products or services (an average of 4.63 add-ons per deal) in the financing package. [7]
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