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      01-26-2010, 02:16 PM   #1
Xaero
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Some BMW Select calculations.. input please

Can someone help make sure my calculations are correct? I am looking at the BMW Select program from a slightly different angle than what some people here have in the past. I want to assume I keep the car for 3 years and then sell it. For the calculations I am assuming I will sell the car for exactly what I owe in the BMW Select scenario. I am comparing this to outright financing in order to see the breakdown.

I have a new M3 Sedan configured at $71,175.

At 3yrs I will have spent $35,748 using the BMW Select program. Outright financing the car I will have spent $43,776, but I would be selling the car for more than I owed and would pocket some cash. The total cost difference is $6,141 in favor of financing. However on a monthly basis the BMW Select is $223 cheaper.

Is what I came up with a valid comparison? I did not factor in taxes since I donít know how they impact the BMW Select program.

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      01-26-2010, 02:36 PM   #2
comebackid
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I believe the balloon amount is 37% (With teir one credit) x MSRP. You do not factor in what your final cost for the car or down payment. That's what the dealer told me when I was going to order a 335i coupe in December.

Now with the 335IS coming out, I'm on the fence if I should go after a 6,000 - 12,000 mile fully loaded 2009 M3 instead. It will be close in price.

Now I'm curious to know if BMW Select is offered on CPO.
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      01-26-2010, 05:51 PM   #3
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Not sure if you can do BMW select w a CPO. I guess you could, but I don't know if it would be a good idea for the same reason leasing a used car is a bad idea. But if you are looking to drive for 3 years and sell it (with a low monthly payment) I'd say just lease it. You can sell a lease for more than its worth if thats what you're trying to do.
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      01-26-2010, 07:43 PM   #4
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I was under the assumption that the rate for BMW Select for Tier 1 credit was 66% and 34% balloon.

Quote:
Originally Posted by Beau View Post
Not sure if you can do BMW select w a CPO. I guess you could, but I don't know if it would be a good idea for the same reason leasing a used car is a bad idea. But if you are looking to drive for 3 years and sell it (with a low monthly payment) I'd say just lease it. You can sell a lease for more than its worth if thats what you're trying to do.
I believe if it's within a year or two you can do BMW Select on a CPO, however, the max. number of months to finance is reduced from 60 months to 48.
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      01-26-2010, 07:45 PM   #5
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Xaero, what if you factored in saving that $223 on monthly basis, like a savings account or something?
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