The following are Vehicle Eligibility Conditions for a Used Vehicle Purchase from a Franchise Dealership:
- Loan-to-Value (LTV) not greater than 110% Kelley Blue Book (KBB) retail value. Multiply the KBB Retail Value by 1.10 (or 110%). The value of your vehicle cannot exceed this value.
- Mileage: cannot exceed 75,000 miles
- Vehicle Age: If the requested loan term is less than or equal to 60 months, vehicle must be no older than 6 years. If the requested refinance term is greater than 60 months, vehicle must be no older than 4 years
Other conditions that apply:
- May not be used at a BMW or MINI Dealership
- No Purchases from private sellers - FRANCHISED DEALERSHIPS ONLY!
- No purchases of auto leases.
- You may only purchase one vehicle with the Drive Check.
- No vehicles manufactured by Suzuki, recreational vehicles, ATV’s, jet skis, boats, mobile homes, motor homes, camper vans, trailers, conversion vans, commercial vehicles, business vehicles, leased vehicles, amphibious vehicles, armored vehicles, motorcycles, limousines, taxis, tow trucks, tractors, dump trucks, freight liners, farm equipment, kit cars, show cars, branded/junk/salvaged/rebuilt title vehicles, gray market vehicles, lemon law vehicles, converted engine vehicles, three-wheeled vehicles, vehicles that do not have a Vehicle Identification Number (VIN) or title issued, repossessed vehicles, vehicles sold through brokers/auction houses, vehicle sold through independent dealers (non-franchised), vehicles sold to members of the same family/same address and vehicles being sold by a business
- No powers-of-attorney on Used Franchised Dealership vehicle purchases.