BMW of Fairfax
8427 Lee Highway Fairfax, VA 22031Sales: 800-591-2541
- Service: 800-591-6503
- Parts: 800-517-5479
BMW Finance Center
Financing Navigation
Contact Information
- BMW of Fairfax
-
8427 Lee Highway
Fairfax, VA 22031 -
- sales Sales:
- 800-591-2541
- service Service:
- 800-591-6503
- parts Parts:
- 800-517-5479
Finance FAQ
BMW Credit Card Application - Apply Now
pause
Tip!
Loan payments contribute to the eventual ownership of a vehicle, while lease payments apply only to the short-term use of a car.
Tip!
Owning a lease vehicle is possible if purchased outright after the lease period ends.
A typical lease period runs between 24 and 48 months.
Tip!
Three important factors - adjusted capitalized cost, residual value and the money factor - determine the monthly rate of a lease.
Tip!
Closed-end leases set a fixed residual buy price at the beginning of the term, while open-end deals base the final buy price on a vehicle's actual market value at the end of a lease.
Tip!
Pay more money down initially to reduce monthly loan payments. Otherwise, a typical down payment ranges between 10 to 20 percent of the total cost.
Tip!
Many used vehicles require down payments of at least 20 percent and include interest rates between 9 to 10 percent.
Tip!
Lease agreements usually limit mileage from 12,000 to 15,000 miles annually. Beyond these figures, fees in the range of $0.10 to $0.25 per mile begin to accumulate.
If you plan on customizing your vehicle, you need to finance with a loan. Leased vehicles must be returned under factory specification.
WARNING: If you have recently been contacted by someone claiming to be from "the dealership" and offering you an extended warranty or Extended service contract, please be advised that this has not come from BMW of Fairfax. BMW of Fairfax respects your privacy and would not condone these calls or give your information to an outside vendor. If you receive one of these calls and are displeased, please call our General Manager, Robert Ogust.
Should you actually be interested in purchasing either an extended service contract, or a maintenance plan upgrade, please call 703-560-2300, and speak with one of our Professional Financial Representatives.