[paradoxical3]

Originally Posted by vegasevo9

Makes more sense to lease an M3 at this point

I don't want a car that is heavier, bigger, uglier, sounds worse, and is slower around many US race tracks.

[HawaiiG80Green]

Originally Posted by paradoxical3

I don't want a car that is heavier, bigger, uglier, sounds worse, and is slower around many US race tracks.

If thats the case, dont get the M2! ???. Just teasing.

On a more serious note, I am waiting on my M2 order as well and hope lease rates get better. Just stating that makes more sense in leasing an M3 due to the lease payments. Didnt mean to offend you. Peace.

I sold my 2016 M3. Its not that much heavier and bigger. Sounds almost similar but just deeper on the M2. Slower by not that much too. You get the S55 engine, merino leather bucket seats, mirrors, carbon roof etc. I might be boiling your blood again with my comment. Heehehehehehe

[paradoxical3]

Originally Posted by vegasevo9

If thats the case, dont get the M2! ???. Just teasing.

On a more serious note, I am waiting on my M2 order as well and hope lease rates get better. Just stating that makes more sense in leasing an M3 due to the lease payments. Didnt mean to offend you. Peace.

I sold my 2016 M3. Its not that much heavier and bigger. Sounds almost similar but just deeper on the M2. Slower by not that much too. You get the S55 engine, merino leather bucket seats, mirrors, carbon roof etc. I might be boiling your blood again with my comment. Heehehehehehe

Was just kidding around because I saw you had a M3 and were posting in the M2 forum. Don't care much about the carbon stuff but I am pissed the M2 has seats that aren't track ready, that would have been nice!

M3 lease is definitely way better than the M2.

[HawaiiG80Green]

Originally Posted by paradoxical3

Was just kidding around because I saw you had a M3 and were posting in the M2 forum. Don't care much about the carbon stuff but I am pissed the M2 has seats that aren't track ready, that would have been nice!

M3 lease is definitely way better than the M2.

Thanks buddy!! Whew dont want to upset anyone. Hope they freakin increase the m2 production. I also had another M3 Competition package on order but ended up canceling. Wanna try out the M2 as all reviews are positive. Also was looking into saving a few hundreds as well monthly. I mainly care of driving dynamics. So M2 for me. Overall MSRP is amazing.

More allocation + great lease rates = WIN.

[M3 Adjuster]

Originally Posted by dammitcubs

wow alot of people are leasing this car huh...

No. They are " talking about leasing " an M2.

Most will F off off and Lease an M4/M3.

[M3 Adjuster]

Originally Posted by paradoxical3

Was just kidding around because I saw you had a M3 and were posting in the M2 forum. Don't care much about the carbon stuff but I am pissed the M2 has seats that aren't track ready, that would have been nice!

M3 lease is definitely way better than the M2.

" seats that aren't track ready" ??

Stock seats sure seem to be fine on track at Laguna seca....?

[paradoxical3]

Originally Posted by M3 Adjuster

" seats that aren't track ready" ??

Stock seats sure seem to be fine on track at Laguna seca....?

They will be decent but they aren't super high bolstered and don't have harness pass throughs. I have driven a M235i and they are basically the same seats, which are very similar to the sport seats in the previous gen X1 that I have many track days in. Definitely could use some more lateral bolstering. Found myself hanging on to and bracing against the steering wheel far more than I prefer.

[M3 Adjuster]

Originally Posted by paradoxical3

They will be decent but they aren't super high bolstered and don't have harness pass throughs. I have driven a M235i and they are basically the same seats, which are very similar to the sport seats in the previous gen X1 that I have many track days in. Definitely could use some more lateral bolstering. Found myself hanging on to and bracing against the steering wheel far more than I prefer.

To me it seems sorta ridiculous to expect " track worthy seats " in a car that many will not use on the track.

The seats in the X1 M sport are decent/above average for more than 85 percent of buyers.

The Same is true for the stock seats in the 135/ 1M/ M235i/M2.

You and I both know that Even the M4 seats in this car would have you still wishing for knee pads after a track weekend.

Seats that have better bolstering might happen but pass throughs? No way man.. Wait for the CS (CSL/GTS) or just go aftermarket and get some *seriously * track ready seats .

Maybe they will update the M4 GTS Seats with a proper design just like they updated the M2 Exhaust sounds over the M4.

Perhaps you should frame your request as such...

" Hey BMW... QUIT WITH THE FRILLY M PERFORMANCE CARBON FIBER BITS AND GIVE US SOME FREAKIN' M PERFORMANCE SEATS"

That way someone at BMW that reads these pages will understand your needs better and how they can make some more caish....

[d0scas]

Quote i got for select in NY $617 a month 7k down
2.9% interest
ballon at month 60 19,xxx
msrp at 53,945

[mbrito31]

Originally Posted by d0scas

Quote i got for select in NY $617 a month 7k down
2.9% interest
ballon at month 60 19,xxx
msrp at 53,945

Did you end up going the select route? I am weighing this as an option when it comes my time to purchase!

[ModestV8]

Originally Posted by paradoxical3

I am new to the idea of BMW Select, but if I am understanding this correctly the M2 may be the perfect car for BMW Select if you are looking to keep your monthly payment lower than the approx. $900-1000 a lease would be.

From what I understand, BMW Select will always cost more than a traditional finance in terms of total interest paid. So let's be clear about it - many people that lease or finance via BMW Select are looking to preserve liquidity in exchange for a bit of a higher cost down the road. Nothing wrong with that, I am looking to do that too.

What I think makes the M2 perfect for BMW Select is two things - BMWs lease residuals are insanely out of whack with their other cars, but the BMW Select residual is not. The second thing is that the M2 will likely enjoy a depreciation curve that is not nearly as bad as most cars, and for the first year or two of the loan if a decent down payment is placed, the owner may never even be under water.

The M2 residual for BMW Select is 37%. On a $57k car, that is about $20k. A 5 year old M2 is going to be worth significantly more than $20k. I did a search on 2011 M3s and the cheapest one in the country is $28k. A $28k remainder on a 37% residual would mean a MSRP of $78k, which we all know that generation of M3 couldn't get up to. So this means that the BMW Select residual is basically set too high, as opposed to the lease residual being set too low.

The way I calculate it:

MSRP of $57,395 after fees for a LBB with exec pack
Add in 5.75 sales tax for my state = $60695

$60695 - $5000 down payment = $55695 total cap cost

With 37% residual @ 2.99% that makes $35,088 regularly financed with a $20607 balloon

There are two components to the monthly payment - interest on the balloon and then the normal financed amount.

To figure out the balloon interest portion, I did $20607 x .029 x 5 / 60 =$49.8/mo

To figure out the financed portion I did $35,088 at 3.9% using a calculator....ends up $630 per month.

So using BMW select with $5k down, total monthly payment after fees and taxes is $679.8 per month.

Total cost of BMW select financing = 679.8 x 60 + 20607 which = $61395
Total cost of traditional financing $55695 @ 2.99 = 1003 x 12 = $60180

So I am basically paying BMW an additional $1215 in interest to preserve $330 per month in liquidity vs traditional financing. This is the upshot of BMW Select. Here is where it gets better: 37% residual seems very favorable as a 5 year old M2 will be worth well more than $20,000. Given a $5k down payment and limited supply for the next couple of years, I believe I will never at any point be upside down (at least not significantly), while preserving the ability to sell the car and walk at any time and having no mileage restrictions of a lease. If I decided to sell the car to make the balloon payment, I would likely have several thousand dollars of equity in the car at that point.

This seems too good to be true?

What residual are people getting? I was told 24% for 5 years...but this example is based on a 37% residual which is good for 5 years.

And the residual I'm referring to is only on BMW select not Lease.

[EstorilM]

Penfed was miles better for me

[M2 Blur]

Originally Posted by EstorilM

Penfed was miles better for me

+1 I went with PenFed auto saver loan for 3 years. Their residual is 2K higher than BMW select and I put enough down to keep the payment under $500 a month. So, sell at 3 years or refinance. This was perfect for me, better than leasing and little risk my residual will be less than what I can sell it for.

I also added new car replacement to my insurance (Allstate @ $7 p/mo), good for 3 years. If my car is totaled, I get a new M2 (MSRP) and any accidents, I get OEM parts (no aftermarket).

[///MIKE M]

Question....

I'm currently using BMW Select, is it possible to re-finance it with say Penfed if I can get a better rate??

I think I'm at 2.99. I have one of the first cars so I'm not sure what % residual I got. I wonder fi I can move over to Penfed or similar and get a better monthly.

[EstorilM]

Originally Posted by ///MIKE M

Question....

I'm currently using BMW Select, is it possible to re-finance it with say Penfed if I can get a better rate??

I think I'm at 2.99. I have one of the first cars so I'm not sure what % residual I got. I wonder fi I can move over to Penfed or similar and get a better monthly.

The used car penfed payment saver is a higher interest rate, so you may not be able to beat yours. Residual may be higher though