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      03-27-2013, 02:03 AM   #1
AlmostPeace
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BMW Select.

Sorry I'm kind of new to the auto market. One quick question:
Can BMW Select act as a lease? Like can I not pay it off at the end of the BMW Select. Because I just want to drive the car for 2-3 years and since BMW Select do crazy low on monthly payment that's why I'm thinking if it can act as a lease.
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      03-27-2013, 06:30 AM   #2
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Quote:
Originally Posted by AlmostPeace
Sorry I'm kind of new to the auto market. One quick question:
Can BMW Select act as a lease? Like can I not pay it off at the end of the BMW Select. Because I just want to drive the car for 2-3 years and since BMW Select do crazy low on monthly payment that's why I'm thinking if it can act as a lease.
Select is basically financing for 5 years with a balloon payment at the end. It's not a lease. It's a loan to be paid over 5 yrs. The reason why you have a low monthly payment is because the balloon payment at the end takes the hit. So for example I had a 56k car that I used to pay $800 monthly and it was suppose to go on for 5 yrs then I had a balloon of 18k at the end. If you try to get out of it in 2-3 yrs then you loose money on the car because the car value by then will probably be way lower than what you owe. I'd go with a regular lease. I'm glad I got out of this thing. Good luck with your purchase.
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