M2C: buy or lease?

Poochie · 06-19-2018, 10:37 PM

Quote:

Originally Posted by pz619

Quote:

Originally Posted by Lucky1

Wow, please share how I can get such a deal. Maybe its a Canadian thing but they won't finance past 5 years and even if they did there is never a 0% option either at, before or after 48 months (longer you go the higher the rate

).

I have kept my 128i for almost ten years and couldn't foresee doing anything less with this M2C unless I suddenly needed something bigger (but used Accord as second car FTW?)

Well I can't speak intelligently about the Canadian financial system, but I can tell you credit unions down here have very competitive rates. I'm looking at 2.5% to 2.7% for a 72 month loan.

I think BMW will only finance for 5 years but someone else will need to chime in to verify. So in this case, bringing my own financing will be a huge help. As for leasing, I think we're sitting at 44% residual for 15k miles. Means in 3 years you'll need to pay for 56% of the cars value. This is for the current M2, but I have to assume the trend will continue for the competition car. Also worth noting that the MF on a lease is generally pretty close to the interest rate on a bmwfs loan, if not higher at times.

You could finance up to 72 months with BMW FS if you qualify but the interest is sometimes a point higher than the typical 60 months loan.

http://www.xbimmers.com/forums/showthread.php?t=518687

https://www.passportbmw.com/blogs/84...for-72-months/

pz619 · 06-19-2018, 10:50 PM

Quote:

Originally Posted by Poochie

You could finance up to 72 months with BMW FS if you qualify but the interest is sometimes a point higher than the typical 60 months loan.

http://www.xbimmers.com/forums/showthread.php?t=518687

https://www.passportbmw.com/blogs/84...for-72-months/

Awesome, thanks for confirming!

Grimlock85 · 06-25-2018, 01:53 PM

Any idea if insurance premiums are gonna be higher with the m2c? compared to the m2

m20e3087 · 06-25-2018, 07:59 PM

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

Can any CA give us a real examples? Let's say for 18 M2. This might be better options than leasing

dmk08 · 06-26-2018, 08:35 AM

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.

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.

dmk08 · 06-26-2018, 11:04 AM

Quote:

Originally Posted by m20e3087

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

I didnt think any programs on the 2019 M2C were actually out yet? Hoping it has better residuals than the OG one.

m20e3087 · 06-26-2018, 11:06 AM

Quote:

Originally Posted by dmk08

Quote:

Originally Posted by m20e3087

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

I didnt think any programs on the 2019 M2C were actually out yet? Hoping it has better residuals than the OG one.

I doubt it. Maybe towards end of the year. But those of us with July-August build don't think so. Did you find a allocation?

dmk08 · 06-26-2018, 11:08 AM

Quote:

Originally Posted by m20e3087

I doubt it. Maybe towards end of the year. But those of us with July-August build don't think so. Did you find a allocation?

I found 3. All at MSRP. Guess I'm not going to do better than that.

2 Local. One is a modifiable launch car one is a August allocation. 1 in TN but its not til October.

m20e3087 · 06-26-2018, 11:10 AM

Quote:

Originally Posted by dmk08

Quote:

Originally Posted by m20e3087

I doubt it. Maybe towards end of the year. But those of us with July-August build don't think so. Did you find a allocation?

I found 3. All at MSRP. Guess I'm not going to do better than that.

2 Local. One is a modifiable launch car one is a August allocation. 1 in TN but its not til October.

Cool. Yes MSRP at best unless your military or fleet.

ORIGIN M. · 06-27-2018, 07:32 PM

The BMWFS Lease rates sucked on the OG M2.

Unless you lease through a different company I'd steer clear.

doug_999 · 06-29-2018, 11:01 AM

Here we go again... there are whole threads on this.

Provided the residuals match the previous gen M2, there is simply no smart financial reason, EVEN IF YOU RUN IT THROUGH YOUR BUSINESS to lease the M2.

Period

If you want to play the "but I might get into an accident game" or the "I want to know what my car is worth in 3 years no matter how low", then go for it - but it is like an extended warranty on a toaster. You are wasting your money.

fryrice · 05-26-2021, 03:17 PM

just searching for "Select" program and found this old thread, sorry for the bump but with COIVD M2 prices have soared.

I am about to get M2 Comp with the Select Program but can't seem to find a lot info.

View Poll Results: buy or lease the M2C?
Cash	63	76.83%
Leasing	19	23.17%
Voters: 82. You may not vote on this poll

06-25-2018, 01:53 PM	#25
Grimlock85 Private First Class 38 Rep 168 Posts Drives: m3 / 135i Join Date: Jan 2014 Location: SoCal iTrader: (2)	Any idea if insurance premiums are gonna be higher with the m2c? compared to the m2
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06-27-2018, 07:32 PM	#33
ORIGIN M. Banned 3160 Rep 9,134 Posts Drives: ///M Join Date: Oct 2007 Location: Northern Hemisphere iTrader: (0)	The BMWFS Lease rates sucked on the OG M2. Unless you lease through a different company I'd steer clear.
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06-29-2018, 11:01 AM	#34
doug_999 Brigadier General 2542 Rep 3,968 Posts Drives: 2011 1M/2021 992/2023 X3 Join Date: Mar 2008 Location: Chicago, IL iTrader: (0)	Here we go again... there are whole threads on this. Provided the residuals match the previous gen M2, there is simply no smart financial reason, EVEN IF YOU RUN IT THROUGH YOUR BUSINESS to lease the M2. Period If you want to play the "but I might get into an accident game" or the "I want to know what my car is worth in 3 years no matter how low", then go for it - but it is like an extended warranty on a toaster. You are wasting your money. __________________ 2011 1M, Black loaded sans sat radio 2021 911 C4S Gentian Blue, manual 2023 X3 M40i - loaded sans Park Assist
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05-26-2021, 03:17 PM	#35
fryrice Enlisted Member 14 Rep 34 Posts Drives: M2c Join Date: Jul 2017 Location: Boston, MA iTrader: (0)	just searching for "Select" program and found this old thread, sorry for the bump but with COIVD M2 prices have soared. I am about to get M2 Comp with the Select Program but can't seem to find a lot info.
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