07-30-2019, 02:39 PM | #1145 |
Lieutenant Colonel
2228
Rep 1,897
Posts |
|
Appreciate
0
|
07-30-2019, 03:01 PM | #1146 | |
Second Lieutenant
68
Rep 238
Posts |
Quote:
Jokes aside, people should be interested if the deal is better than they can get elsewhere, all things considered. Nothing wrong with that - that's how markets work. There're people trying to make a profit on swapalease as well, being they negotiated a great deal. Again, nothing wrong with that: as a buyer, if that's still better than alternatives, it might be worthwhile. |
|
Appreciate
0
|
07-30-2019, 06:14 PM | #1147 |
Major
852
Rep 1,215
Posts |
I agree with you. People on here are looking for too much.
|
Appreciate
0
|
07-30-2019, 07:17 PM | #1148 | |
fuck this field
2192
Rep 2,605
Posts |
Quote:
I was just wondering because he was interested in buying. I have a TTS for the weekends that I'd just start dailying if I'd have transferred the CS.
__________________
BMW family... for now.
|
|
Appreciate
0
|
07-31-2019, 06:42 PM | #1149 | |
Lieutenant General
18704
Rep 14,115
Posts
Drives: G82 M4C X-Drive
Join Date: Mar 2013
Location: Orange County, CA
|
Quote:
__________________
2022 G82///M4 Competition X-Drive - KW-HAS, EBC Bluestuff, Millway Race Camber Plates, Cup2 Connect*, PSI High Flow Midpipe, Lightweight Front Lip, M Perf Flow Through Wing Previous • 2018 F80 ///M3 CS • 2016 F80 ///M3 IG: Raging_G82 |
|
Appreciate
0
|
07-31-2019, 07:13 PM | #1150 | |
Lieutenant Colonel
2228
Rep 1,897
Posts |
Quote:
|
|
07-31-2019, 08:26 PM | #1151 | ||
Major
852
Rep 1,215
Posts |
Quote:
|
||
Appreciate
0
|
07-31-2019, 08:38 PM | #1152 | |
fuck this field
2192
Rep 2,605
Posts |
Quote:
I was just wondering because he was interested in buying. I have a TTS for the weekends that I'd just start dailying if I'd have transferred the CS.
__________________
BMW family... for now.
|
|
Appreciate
0
|
07-31-2019, 10:57 PM | #1153 | ||
fuck this field
2192
Rep 2,605
Posts |
Quote:
Lol I remember the good old days where forum members killed for base stripper M3s in the 700s
__________________
BMW family... for now.
|
||
08-01-2019, 05:31 AM | #1154 | |
Major General
4437
Rep 5,730
Posts
Drives: '24 iX50; '23 i4 M50
Join Date: Dec 2009
Location: Vereinigte Staaten von Amerika
|
Quote:
__________________
__________________
'24-I20 iX 50; '23-G26 i4 M50; '22-G82 M4Cx*;20-G05 M50i*; '20-F82 M4CS*; '18-F80 M3CS*; '18-F80 M3CS*; '18-F85 X5M*; '18-G01 X3M40i*; '18-F80 M3ZCP*; '17-F80 M3ZCP*; '15-F15 X5*; '15-F82 M4*; '12-E92 335is*; '11-E70 X5d; '11-E89 Z435is*;'09-E89 Z435i*; '08-E92 335i*; '06-E90 330i*; '05-E83 X3*; '04-E83 X3*; '03-E46 325Ci* *retired |
|
Appreciate
0
|
08-05-2019, 06:31 PM | #1155 |
Private First Class
51
Rep 173
Posts |
Anybody familiar with "BMW Select Loan" ? Salesperson said it was kind of a lease and purchase mixed in the same transaction.
Sounds like a bad idea to me. Any insight would be appreciated. Was offered a BMW Select Loan from BMW San Luis Obispo on their Lime Rock Grey M3CS. |
Appreciate
0
|
08-05-2019, 06:38 PM | #1156 | |
Lieutenant General
18704
Rep 14,115
Posts
Drives: G82 M4C X-Drive
Join Date: Mar 2013
Location: Orange County, CA
|
Quote:
It's basically a open-ended lease. A balloon payment will be due at term. IMHO bad idea based on the depreciation we are already seeing because the CS was overpriced to begin with. I've never priced one out however, do they discount the residual as well or is it based on MSRP? If the balloon payment is less than the RV could be worth it. Of course they did. The lease programs are done for the M3CS and this is a way to entice customers who are baited by a low monthly payment but don't have the foresight so see how much they are going to owe at term.
__________________
2022 G82///M4 Competition X-Drive - KW-HAS, EBC Bluestuff, Millway Race Camber Plates, Cup2 Connect*, PSI High Flow Midpipe, Lightweight Front Lip, M Perf Flow Through Wing Previous • 2018 F80 ///M3 CS • 2016 F80 ///M3 IG: Raging_G82 Last edited by jmg; 08-21-2019 at 03:50 PM.. |
|
Appreciate
0
|
08-05-2019, 06:54 PM | #1157 |
Second Lieutenant
68
Rep 238
Posts |
I’ve never used Select Financing but it sounds like a lease except you carry the residual value risk, not the lender; you carry the upside as well but it’s unlikely you’ll be in the money on it (but I don’t know specifics to really say). But you carry the same upside on conventional lease.
It’d be a huge gamble on the CS. If you can negotiate a healthy discount off the car, you can at least minimize your exposure. But I’d work out the math and make sure you’re comfortable with the balloon at the end in case you need to exercise that. |
Appreciate
0
|
08-06-2019, 06:33 AM | #1158 |
Major General
4995
Rep 6,863
Posts |
As far as I know, the select thing is simply a loan with a longer amortization profile and a balloon payment partway through. Aside from perhaps the payments being similar, it's nothing like a lease. It's probably the worst way to finance a vehicle as you pay a ton of interest, will likely be upside down through the duration, and then have a large balloon payment which will need to be refinanced (and may even be more money than the car is worth at the time).
|
Appreciate
0
|
08-06-2019, 09:30 AM | #1159 | |
Major
908
Rep 1,211
Posts |
Quote:
|
|
Appreciate
0
|
08-06-2019, 09:41 AM | #1160 | |
Major
908
Rep 1,211
Posts |
Quote:
|
|
Appreciate
0
|
08-06-2019, 10:06 AM | #1161 | |
Lieutenant Colonel
2228
Rep 1,897
Posts |
Quote:
BMW Select is very similar to the PenFed Payment Saver auto loan product. I used it to finance my first M3 and when I traded it in on my second M3, the value of the car was in excess of the principal balance on the loan. It worked for me at the time because lease laws in the state of Georgia at the time were not favorable and I had no intention of paying off the loan. It's not a terrible product depending on your situation and the vehicle you're financing.
__________________
Retired: 2018 BMW M3 CS, 2018 BMW M3 ZCP, 2016 BMW M3
|
|
Appreciate
0
|
08-06-2019, 06:10 PM | #1162 | ||
Major General
4995
Rep 6,863
Posts |
Quote:
|
||
Appreciate
0
|
08-06-2019, 06:13 PM | #1163 | ||
Major General
4995
Rep 6,863
Posts |
Quote:
|
||
Appreciate
0
|
08-08-2019, 06:03 PM | #1164 | |
Private First Class
51
Rep 173
Posts |
Quote:
|
|
Appreciate
0
|
08-08-2019, 06:25 PM | #1165 | |
Captain
882
Rep 886
Posts |
Quote:
This select financing is just creating the illiusion of affordability with artificially low payments. Like someone said above its the equivalent of a 10 year loan. Thats a shit ton of interest and a bad financial decision.
__________________
23 Audi RS6
23 BMW X3 30e Msport 18 M3 CS 17 Porsche Macan GTS 14 Audi S4 |
|
Appreciate
0
|
08-09-2019, 01:52 PM | #1166 | |
Major
908
Rep 1,211
Posts |
Quote:
|
|
Appreciate
0
|
Post Reply |
Bookmarks |
|
|