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      03-24-2016, 01:14 AM   #1
paradoxical3
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BMW Select Excel Payment Calculator

Seeing as how it's pretty annoying to figure out what payments are via BMW Select financing, I went ahead and took a stab at making an excel calculator. This should make it much easier, but I would appreciate having someone double check my formulas. I believe they are correct though and I have worked it backwards to verify. This calculator really shows how much the 2.99% apr sucks compared to the .99%...it's a solid $65 monthly difference.

https://dl.dropboxusercontent.com/u/...alculator.xlsx
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      03-25-2016, 09:21 AM   #2
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Quote:
Originally Posted by paradoxical3
Seeing as how it's pretty annoying to figure out what payments are via BMW Select financing, I went ahead and took a stab at making an excel calculator. This should make it much easier, but I would appreciate having someone double check my formulas. I believe they are correct though and I have worked it backwards to verify. This calculator really shows how much the 2.99% apr sucks compared to the .99%...it's a solid $65 monthly difference.

https://dl.dropboxusercontent.com/u/...alculator.xlsx
2.99 is a horrible rate.

You could use 3.99 to make it even look worse.

I mean seriously.....

@1M Tex and I were just talking two days ago and he found a 1.49 rate for 60 months and I know I can get 1.99 for 84 months ...
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      03-28-2016, 07:40 PM   #3
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Quote:
Originally Posted by M3 Adjuster View Post
2.99 is a horrible rate.

You could use 3.99 to make it even look worse.

I mean seriously.....

@1M Tex and I were just talking two days ago and he found a 1.49 rate for 60 months and I know I can get 1.99 for 84 months ...
I think 2.99 is conservative and fairly middle-of-the-road. I think most with excellent credit can find 1.99.

84mo car loan?
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      03-28-2016, 08:00 PM   #4
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Quote:
Originally Posted by ACZakka325i
Quote:
Originally Posted by M3 Adjuster View Post
2.99 is a horrible rate.

You could use 3.99 to make it even look worse.

I mean seriously.....

@1M Tex and I were just talking two days ago and he found a 1.49 rate for 60 months and I know I can get 1.99 for 84 months ...
I think 2.99 is conservative and fairly middle-of-the-road. I think most with excellent credit can find 1.99.

84mo car loan?
Nothjng wrong with making the required minimum payment as low as possible.

One can always pay it off sooner by paying more than the minimum or by making additional payments.

And who cares if it's 108 months when the interest rate is 1.99 percent lol... Darn near free money.
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      03-29-2016, 11:24 AM   #5
paradoxical3
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84 month loan makes a ton of sense on the M2 if you get a good APR and put down a large down payment to ensure you are not upside down, since the lease rates are so terrible.
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      03-29-2016, 11:35 AM   #6
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Quote:
Originally Posted by paradoxical3 View Post
84 month loan makes a ton of sense on the M2 if you get a good APR and put down a large down payment to ensure you are not upside down, since the lease rates are so terrible.
Putting a large deposit down makes no sense when financing can be had for under 2%. Going upside down will largely depend on the resale value of the car while it is in limited supply. I would be willing to bet that the depreciation curve of the car will actually float above the loan balance for the duration of the loan even with an extended term like 84 months.
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      03-29-2016, 11:37 AM   #7
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Quote:
Originally Posted by confusion View Post
Putting a large deposit down makes no sense when financing can be had for under 2%. Going upside down will largely depend on the resale value of the car while it is in limited supply. I would be willing to bet that the depreciation curve of the car will actually float above the loan balance for the duration of the loan even with an extended term like 84 months.
Yeah not sure why you would put a large chunk of cash down on Select if you can get the .9 rate. Or is that only for M3/M4?
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      03-29-2016, 12:11 PM   #8
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Originally Posted by dmk08
Quote:
Originally Posted by confusion View Post
Putting a large deposit down makes no sense when financing can be had for under 2%. Going upside down will largely depend on the resale value of the car while it is in limited supply. I would be willing to bet that the depreciation curve of the car will actually float above the loan balance for the duration of the loan even with an extended term like 84 months.
Yeah not sure why you would put a large chunk of cash down on Select if you can get the .9 rate. Or is that only for M3/M4?
Rate is 2.99 or if you go to my dealer it's supposedly 3.99%.

Penfed is using a 50% residual with a 2.49 apr.
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      03-29-2016, 12:19 PM   #9
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Quote:
Originally Posted by ZGirl07 View Post
Rate is 2.99 or if you go to my dealer it's supposedly 3.99%.

Penfed is using a 50% residual with a 2.49 apr.
Ahh that sucks. I got my new M4 ZCP locked in at .9 w/ BMWFS
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      03-29-2016, 12:36 PM   #10
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Quote:
Originally Posted by dmk08
Quote:
Originally Posted by ZGirl07 View Post
Rate is 2.99 or if you go to my dealer it's supposedly 3.99%.

Penfed is using a 50% residual with a 2.49 apr.
Ahh that sucks. I got my new M4 ZCP locked in at .9 w/ BMWFS
It definitely does suck. BMW is doing its very best at getting everyone to give up on the M2 and move up into an M3/4. . My dealer was shocked when I didn't accept 3.99%. Sorry guy, i wasn't born yesterday and I have elite credit- please.
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      03-29-2016, 01:06 PM   #11
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Yeah if the rate was .99 I would put zero down.
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      03-29-2016, 01:43 PM   #12
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Quote:
Originally Posted by ZGirl07 View Post
Rate is 2.99 or if you go to my dealer it's supposedly 3.99%.

Penfed is using a 50% residual with a 2.49 apr.

I have called Penfed numerous times to get a 'payment saver' rate. They say the car is too new. I get the 1.99 for 48/60 and 2.74 for longer.

April rates from BMWNA might be different/better. March rates were useless since there was no release.

Last edited by clubsport; 03-29-2016 at 01:44 PM.. Reason: added text
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      03-29-2016, 01:47 PM   #13
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Quote:
Originally Posted by clubsport
Quote:
Originally Posted by ZGirl07 View Post
Rate is 2.99 or if you go to my dealer it's supposedly 3.99%.

Penfed is using a 50% residual with a 2.49 apr.

I have called Penfed numerous times to get a 'payment saver' rate. They say the car is too new. I get the 1.99 for 48/60 and 2.74 for longer.

April rates from BMWNA might be different/better. March rates were useless since there was no release.
Do you have your VIN? Apply online, add the vin and add the car as an M3. Call them after its processed and tell them it's an M2. Not M235 or M3 (theyll ask you if it's either). The app will go to a senior loan officer and they'll determine the value. If you're not taking delivery 4/16 then just wait. I wanted everything done so whenever the dealer is allowed to give me the car, I can walk in and it's a done deal. If April really is better, I'll change my financing then but it's doubtful. As of now, penfed using a 50% residual and a 2.49% rate. Take my word for it.
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      03-29-2016, 03:04 PM   #14
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Quote:
Originally Posted by paradoxical3
Yeah if the rate was .99 I would put zero down.
With 1.49 or 1.99 loan rates out there , the best thing is to put down what you want to.


Those that are the type that don't want a payment and know they will love it can throw a chunk down.


Those that Want to " lease " an M2 or if you want to " lease to own " then use the owners choice or just. finance it with as long as terms as possible and then plan to sell it in 2-4 years.

If you are really smart you'll use a credit union and not a bank...

As an M car it's clearly going to have good resale value. As a highly Desired car , it will likely have excellent resale value.
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      07-05-2019, 10:50 AM   #15
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Quote:
Originally Posted by paradoxical3 View Post
Seeing as how it's pretty annoying to figure out what payments are via BMW Select financing, I went ahead and took a stab at making an excel calculator. This should make it much easier, but I would appreciate having someone double check my formulas. I believe they are correct though and I have worked it backwards to verify. This calculator really shows how much the 2.99% apr sucks compared to the .99%...it's a solid $65 monthly difference.

https://dl.dropboxusercontent.com/u/...alculator.xlsx
Anyway you can get this uploaded again? I'd really like to get this select excel calculator. The link is broken but yeah 3 years will do that.
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      07-05-2019, 02:18 PM   #16
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