BMW Select financing

JTmarlin · 07-26-2015, 08:36 PM

Does anyone know if you have the option of paying down the balloon at any time with no penalty?

If payment is $7xx maybe sending $9xx etc creates the same solution?

Maybe someone has already looked into this and has some information to share with me.

Thank you in advance.

Duder · 07-26-2015, 08:36 PM

yes you can pay it off at any time. no penalty

M3Teg · 07-27-2015, 12:41 AM

You can, but you can't just pay 9XX instead of 7XX. If you want to pay towards the balloon amount, I believe you have to make a sperate payment and tell them its towards the balloon amount. I have never done this before, but I'm pretty sure this is how it works. I might be wrong.

JTmarlin · 07-27-2015, 07:48 AM

Thanks, much appreciated.

z335is · 07-27-2015, 06:01 PM

Quote:

Originally Posted by JTmarlin

Thanks, much appreciated.

I've been looking into the select financing as an alternative to a lease too. Does the interest rate / balloon payment fluctuate month to month like leases or is it fixed?

MRCUR · 07-27-2015, 07:19 PM

Quote:

Originally Posted by z335is

I've been looking into the select financing as an alternative to a lease too. Does the interest rate / balloon payment fluctuate month to month like leases or is it fixed?

Lease payments do not fluctuate.

z335is · 07-27-2015, 09:23 PM

Quote:

Originally Posted by MRCUR

Quote:

Originally Posted by z335is

I've been looking into the select financing as an alternative to a lease too. Does the interest rate / balloon payment fluctuate month to month like leases or is it fixed?

Lease payments do not fluctuate.

Bad choice of words on my part. What I meant was, do the select rates fluctuate month to month or are they static?

JTmarlin · 07-27-2015, 09:25 PM

Fixed interest rate....1.9% for high credit, on 5yr balloon for me.

Quote:

Originally Posted by z335is

Bad choice of words on my part. What I meant was, do the select rates fluctuate month to month or are they static?

AnujS2K · 07-27-2015, 09:36 PM

Quote:

Originally Posted by JTmarlin

Fixed interest rate....1.9% for high credit, on 5yr balloon for me.

your dealer offered you 1.9% on a 60 month select for a MY16? I wonder if rates are different for the M3 and the M4. Or if I was quoted higher.

buddster · 07-28-2015, 12:59 AM

1.9? I was told it was 2.79% for 2016 M4's right now if credit is over 700. Can anyone confirm that 1.9 is available?

Shizzel720 · 07-28-2015, 01:19 AM

I was told 2.79% as well for Select

ibrennan · 07-28-2015, 08:34 AM

I went with PenFed payment saver, 2.49% for 60 months

https://www.penfed.org/Payment-Saver-Auto-Loan/

07-26-2015, 08:36 PM	#1
JTmarlin First Lieutenant 92 Rep 390 Posts Drives: 2016 M4 Join Date: Jun 2015 Location: San Diego iTrader: (0)	BMW Select financing Does anyone know if you have the option of paying down the balloon at any time with no penalty? If payment is $7xx maybe sending $9xx etc creates the same solution? Maybe someone has already looked into this and has some information to share with me. Thank you in advance. __________________ '16 M4 Mineral White on Full Sakhir Orange \| 7 Speed DCT \| M-Performance front aero kit \| M-Performance Carbon Fiber Rear spoiler and diffuser
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07-26-2015, 08:36 PM	#2
Duder Second Lieutenant 180 Rep 255 Posts Drives: 2015 M4 Join Date: May 2015 Location: Irvine, CA iTrader: (0)	yes you can pay it off at any time. no penalty __________________ 2015 M4 Sakhir Orange, Executive Package, Adaptive M, 19" Wheels, Black Merino Leather
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07-27-2015, 12:41 AM	#3
M3Teg Second Lieutenant 76 Rep 250 Posts Drives: 2020 X3MC Join Date: Jul 2013 Location: Longisland, NY iTrader: (0) Garage List 2015 BMW M3 [0.00] 2015 BMW X5 [0.00]	You can, but you can't just pay 9XX instead of 7XX. If you want to pay towards the balloon amount, I believe you have to make a sperate payment and tell them its towards the balloon amount. I have never done this before, but I'm pretty sure this is how it works. I might be wrong.
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07-27-2015, 07:48 AM	#4
JTmarlin First Lieutenant 92 Rep 390 Posts Drives: 2016 M4 Join Date: Jun 2015 Location: San Diego iTrader: (0)	Thanks, much appreciated.
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07-28-2015, 12:59 AM	#10
buddster Second Lieutenant 64 Rep 269 Posts Drives: 2022 M8 Gran Coupe Join Date: Jan 2009 Location: Austin, TX iTrader: (0)	1.9? I was told it was 2.79% for 2016 M4's right now if credit is over 700. Can anyone confirm that 1.9 is available?
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07-28-2015, 01:19 AM	#11
Shizzel720 Captain 490 Rep 661 Posts Drives: 2024 G87 M2 Join Date: Nov 2005 Location: Hayward, CA...Bay Area iTrader: (2)	I was told 2.79% as well for Select
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07-28-2015, 08:34 AM	#12
ibrennan Private First Class 78 Rep 180 Posts Drives: Frozen Gray M3 Join Date: Apr 2008 Location: Bucks County, PA iTrader: (1) Garage List 2020 BMW M2 CS [0.00] 2018 BMW M3 CS [0.00] 2011 BMW M3 Coupe [0.00]	I went with PenFed payment saver, 2.49% for 60 months https://www.penfed.org/Payment-Saver-Auto-Loan/
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