BMW Financial Services Expands E-Contracting to Texas and Michigan
BMW Group Financial Services announced Sunday that BMW dealers in Michigan and Texas have implemented its proprietary e-contracting system, a point-of-sale solution for retail, lease and pre-owned vehicles, in their dealerships.
WOODCLIFF LAKES, N.J. — BMW Group Financial Services announced Sunday that BMW dealers in Michigan and Texas have implemented its proprietary e-contracting system, a point-of-sale solution for retail, lease and pre-owned vehicles, in their dealerships.
The captive lender's e-contracting solution is already being used at BMW dealerships in Illinois, Maryland, New Jersey, New York and Pennsylvania, and it will be introduced to California and Florida dealers in September. The e-contracting solution will be in a total of 17 states by the close of 2011.
The e-contracting solution can save dealers and customers as much as 30 percent in time during the credit application and contracting process, as well as provide cost savings from overnight shipping fees per transaction, according to Shaun Bugbee, vice president of sales and marketing for BMW Group Financial Services.
“This has been a multimillion dollar infrastructure investment on our part completely, at no charge to our dealers. It saves them even further by legally expediting the process for the consumer, while providing the dealers with the ability to submit the fully calculated contract for funding on the very same day,” Bugbee said.
In addition, BMW Group Financial Services partnered with Open Dealer Exchange LLC for contract data integration services, including credit application data. All interaction will allow BMW dealers to fully complete an accurate and electronic contract by interfacing directly through their own dealer management system rather than going through a third-party portal.
Overall benefits of BMW’s e-Contracting program include:
Reduces F/I time for customer and dealer, increasing dealer satisfaction scores
Helping dealers head toward a paperless environment
Provides a “checks and balance” so any errors can be corrected before customer signs
No more shipping/overnight charges with funding packages
No more ordering of contracts
More Auto Finance

First-Quarter Sees Long Auto Loan Growth
Experian data show more consumers are tapping the method, along with refinancings, to afford buying. Meanwhile, subprime borrowers are getting more access.
Read More →
Mastering Credit Friction
In this video, Josh Krach explains how to turn credit friction into an advantage.
Read More →
April Less Affordable
Based on prices, reduced incentives and slower household income growth, consumers found it more challenging to buy new last month, Cox Automotive reported.
Read More →
Auto Lenders, Consumers on a Tightrope
April borrowing data shows that more consumers are bending over backward to buy vehicles, though subprime lending cooled off for the month.
Read More →
Toyota Financial Services President Replaced
Scott Cooke has served in various roles with Toyota Financial Services for over 20 years, including president and CEO, which he retires from on June 30.
Read More →
Permission or Approval: When to Notify Finance Sources
Credit card down payments, multiple vehicle purchases and even straw purchases can be completed without committing bank fraud, as long as you tell the bank first.
Read More →
At-Risk Auto Borrowers Drive Looser Credit Access
Cox Automotive’s index shows the subprime segment, long loan terms, negative-equity borrowers and down payment amounts all grew in February despite ever-higher vehicle prices.
Read More →
Auto Loan Forecast Bucks Market Trend
Auto loan originations rose over 6% year-over-year in the third quarter of 2025, but TransUnion predicts a slight decline in auto loan growth this year, making it an outlier in the company's overall lending forecast.
Read More →
Auto Credit More Plentiful
Growing access shows greater lender appetite for risk as consumers take on heavier debt burden in an inflated market.
Read More →
Auto Loans Long as Stretch Limos
More consumers, faced with ever-rising car prices, are adapting by agreeing to longer loan terms despite the cost of added interest payments.
Read More →