BMW M2 Forum - View Single Post

m20e3087 · 06-26-2018, 10:58 AM

Quote:

Originally Posted by dmk08

Quote:

Originally Posted by Poochie

Beside typical buying or leasing, BMW offers another option called "BMW Select" which is essentially a 'balloon loan' that allows you low payments up front and a large final payment (typically 35%) at the end of the 60 month contract..

Requires a higher credit standard to qualify (FICO Auto 720 and above) but it is an option for all BMW purchases, including Mini.

https://www.quora.com/What-are-the-p...onal-financing

https://www.investopedia.com/terms/b/balloonloan.asp

http://myfico.custhelp.com/app/answe...co-auto-scores

I typically wouldn't do Select but sometimes they run crazy deals. I did it on my M4 cause they had .9% APR for 5 years. It's just a Balloon loan.

On a side note I wanted to lease a M2C and the dealer told me yesterday it was a real bad idea. Not sure why but I love the protection of leases. We wrecked our X a few years back and leasing saved us.

Rates on lease are absolutely horrible. I on the fence my self for tax purposes but most likely buy and claim mileage deduction.