[motronicm3]

Which is better in the long run? Trying to finalize deal before the end of the month for an x28. Have usually just financed but trying something different .. Thanks

[azhar]

If you want to keep your car for long time, just pick financing, which is better than lease and balloon. Otherwise, choose lease, which give you much better convenience to use new car and not consider the maintenance.

[mole7374]

Originally Posted by motronicm3

Which is better in the long run? Trying to finalize deal before the end of the month for an x28. Have usually just financed but trying something different .. Thanks

Yo... just some advice here, to azahr's point, if you are keeping the vehicle go with the balloon...do NOT lease! Even if you have a slight chance of keeping it do NOT lease...and I say this from the position that I just got a BMW select loan so I know first hand. Two of my buddies work at the dealership I go to (one is body shop manager and one is service manager..so they are high up). They intro'd me to the finance manager and the finance guy treated me normal etc b/c of my friends...anyway, I had intended on going BMW select anyway but I asked him how the X3's were leasing...he said "ok but not great..most people are buying". I asked why, and he said that right now the deals on the leases really suck b/c of the residual values on both loans being so close...which is odd b/c the lease is 3 year and the select is 5 year (on mine anyway)..., and if you actually compare the BMW select loan to the lease load the BMW select will cost you less. He said this won't last forever but right now if you are looking at that go with the select loan. The select loan rate isn't even that good compared to straight up finance but the loan is still better on the select side than the lease side.

[gerem]

Originally Posted by motronicm3

Which is better in the long run? Trying to finalize deal before the end of the month for an x28. Have usually just financed but trying something different .. Thanks

I was wondering the same thing, the lease on my Nissan ends in September 2012 and I want to buy or lease an X3...

I see that a lot of people here are experienced with BMW, what do you usualy do???

Thanks in advance.

[motronicm3]

thanks, we ended up going with bmw select. picked it today. got i think 4.9% rate after bmw loyalty (credit issue) so happy about that!!

[Want the thrill]

I bought mine and got a 2.49% loan rate through PenFed. Highly recommend them!

[mole7374]

Originally Posted by motronicm3

thanks, we ended up going with bmw select. picked it today. got i think 4.9% rate after bmw loyalty (credit issue) so happy about that!!

Wait you are a loyalty customer and got 4.9? That isn't right.... I got 4.9 without loyalty and the loyalty rate is 1 point lower...3.9. I'm sure of this b/c I was trying to bargain to get 3.9 but they would not give it to me. You better go and check your paperwork. If you have good credit (like above 700) you should have recieved the best rate which if you were a loyalty customer is 3.9

[Sabian]

They definately will go lower if your credit is good. They asked me if I wanted to finance when I picked up my X3, and I asked the rate and they said 4.9 ( I think 4.9, can't remember but 4.something ), then I said no thanks. A few minutes later they came back and said they checked my credit and it was good and could magically get me 3.12 from a different bank.

[mole7374]

Originally Posted by Sabian

They definately will go lower if your credit is good. They asked me if I wanted to finance when I picked up my X3, and I asked the rate and they said 4.9 ( I think 4.9, can't remember but 4.something ), then I said no thanks. A few minutes later they came back and said they checked my credit and it was good and could magically get me 3.12 from a different bank.

Yes but it depends on what kind of loan you are getting... I got approved through BMW F for 2.9% if I wanted a traditional finance over 60 months. My credit is over 800 so they would do whatever I wanted....

However... on the BMW select program it is NOT flexible... you either get 4.9 or 3.9 if you qualify for the loyalty program.

The reason behind thsi is b/c with straight up financing they go through many banks depending on your credit...with top tier credit they use Bank of America who has great rates. However with BMW Select it's a single bank (can't remember which one) and the rates are what they are... trust me I delayed delivery of my vehicle for 3 weeks trying to get a better rate and I could not unless I wanted traditional finance.

Pen Fed has great rate at 2.49 and Paragon Federan CU has great rate at 2.9...however these are also traditional finance and BMW will match them. ...not the case with select.

[NYC_340i]

I chose the select finance and I think it's a good deal. Our car came out to be around $50,000. He said if we financed for 5 years, we will have to pay $816 a month. If we did the select finance, we will pay $560 for 5 years then have a balloon of $18,000 at the end of the 5 years. Then we can refinance the $18,000 ( not recommended because they value will drop) or sell it. We thought that if we can sell it for $20,000+ we will get $2,000 in our pockets.

[XB101]

$816 a month x 60 payments would mean you are paying no interest?!

[motronicm3]

vehicle was for wifey, didn't get 3.9 because of recent foreclosure on her credit so thats why not complaining. its funny because the sales people rarely brought up BMW select, just usual regular finance or lease. thought that was strange