BMW Payments: What You Need to Know
You can make BMW payments online, by phone, by mail, and through the My BMW App. Credit card payments can only be made through third-party services.
Written by Tiffany Leung
Reviewed by Amy Bobinger
Table of Contents
BMW Financial Services allows customers to make payments online, by phone, by mail, and through the My BMW App. However, those who want to pay with a credit card will need to use an in-person third-party service like MoneyGram.
Need to make a BMW payment but not sure where to do so? We’ve created a handy guide with all the payment options. If you’re considering getting a BMW
car loan
or lease, we’ll also cover average monthly payments for the automaker’s 2022 best-selling models to help you manage your budget. How to pay your BMW car bill
If you need to make BMW payments, there’s a good selection of options that makes it convenient. You can pay online, by phone, by mail, or through the My BMW App. You can also pay in person through third-party services.
Online
You can make one-time monthly payments on the My BMW website once you create a BMW Financial Services account—get started by logging in
here
. If you don’t want the hassle of logging in monthly, you can also easily set up automatic recurring payments. The payment will then be deducted from your checking or savings account each month.By phone
Alternatively, you can make payments with your checking/savings account or debit card through BMW’s phone service by dialing (800) 578-5000. The payment can be scheduled for the same day or a future date.
By mail
If you rather send in your payments the old-fashioned way, your check can be mailed to BMW Financial Services at the address below:
BMW Financial Services
P.O. BOX 78103
Phoenix, AZ 85062-8103
You will need to tear off the return bottom portion from your account statement (or print it if you’ve signed up for paperless statements) and write a check made payable to BMW Financial Services. Don’t forget to include your 10-digit BMW Financial Services account number to ensure that your account is correctly credited.
In-person
BMW payments cannot be made in person at a dealership. However, you can use a third-party service such as MoneyGram if you want to pay your bill in person. To pay your bill through MoneyGram, be sure to match BMW’s MoneyGram receive code—you may have to request it from the automaker if it’s not on your bill.
If you choose to pay through MoneyGram, you will also be charged a small convenience fee—the amount will depend on the biller, industry, and face amount of the payment. However, this is the only way to make a payment with your credit card. To get directions to your nearest MoneyGram location, you can call (800) 666-3947.
By the My BMW App
If you’re looking for the easiest way to make your payments, try the app! Simply download the My BMW App and log in, then go to your profile and tap the financial services quick access button. From there, you can select the car you want to make the payment for and authorize your payment.
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Can I make my BMW payments with a credit card?
No—unless you use a third-party service (as mentioned above). The only way to make your BMW payments online is through your bank account.
Is there a grace period for BMW car payments?
BMW has a grace period for
late loan payments
, but the period is regulated by individual states. To determine if you are eligible, check the Account Summary section of your Account Statement. Payments made beyond the grace period will incur a penalty fee of up to $35. On the other hand, if you know in advance that you’re likely to have trouble making a payment, eligible customers can request to postpone one or more monthly payments. Dial (800) 578-5000 to discuss your options with an agent at BMW Financial Services.
How much are BMW payments?
Since BMW luxury vehicles come with a hefty price tag, higher-than-average monthly payments shouldn’t come as a surprise—whether you’re buying or leasing. Starting MSRPs for new BMW vehicles have a wide range, from $37,595 for the
BMW X2
to $159,995 for the all-electric BMW XM SUV. The table below shows the pricing information and average loan payments for BMW’s best-selling models in 2022. The averages are based on the base trim for that model with a 10% down payment, a 72-month loan term, and an estimated interest rate of 4.90%—the average rate for new car buyers with credit scores between 661 and 780. Your actual monthly payment will vary depending on your profile.
Model | MSRP range | Average monthly payment |
|---|---|---|
2022 BMW 2 Series | $37,345 – $49,545 | $570 |
2022 BMW 3 Series | $42,445 – $55,695 | $648 |
2022 BMW 4 Series | $46,795 – $65,195 | $714 |
2022 BMW 5 Series | $55,195 – $77,795 | $824 |
2022 BMW 7 Series | $87,795 – $158,795 | $1,339 |
2022 BMW X2 | $36,595 – $47,445 | $558 |
$44,695 – $58,795 | $682 | |
$52,795 – $63,395 | $805 | |
$61,595 – $83,795 | $940 | |
$68,345 – $87,245 | $1,043 | |
$75,895 – $142,295 | $1,158 | |
$50,895 – $64,695 | $776 |
The exact amount of your BMW payment will depend on a variety of factors. These include your vehicle price, down payment amount,
credit score
, trade-in value
, loan term, and special incentives. For example, a 72-month term
loan will have higher payments compared to an 84-month loan, and used vehicles will have a higher APR
than new-car loans. "WOW.Jerryhas been so easy to use. I called a representative when I wanted some clarification, and they walked me through the entire process of finding a new rate for full coverage on my luxury vehicle.” —Beth G.
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MORE: BMW buying guide
What is the lowest credit score BMW will finance?
You will typically need a minimum credit score of 680 to be approved for an auto loan through BMW Financial Services. In some cases, you could get approved with a lower score but your rates would be less favorable.
What is the best interest rate BMW offers?
Your interest rate will be greatly based on your credit score for any auto loan—the higher your score, the better rates you can get. BMW doesn’t advertise its interest rates but rates as low as 3.99% can be offered to eligible customers with high credit scores.
What is the best BMW car?
The best BMW car is a personal preference so test driving at the dealership is your best bet. However, the BMW Series 3 compact and
BMW X3
subcompact luxury crossover are some of the automaker’s best sellers in 2022.Reduce your monthly car payments in minutes?
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