FINANCE CENTER
Why Finance with BMW of Peabody? Benefits Include:
- 84 Loaner vehicles
- Professional sales staff that take the time to review your options
- Convenient location from major highways and cities
- 2 award winning service locations
- Special customer appreciation events
- Monthly discounted finance specials
- BMWFS loyalty rewards programs
- E-VIP news: Specials and coupons delivered to your email
Financing Navigation
Contact Information
- BMW of Peabody
-
221 Andover Street
Peabody, MA 01960 -
- sales Sales:
- (877) 530-0807
- service Service:
- (888) 352-7651
- parts Parts:
- (888) 464-5451
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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.