What is BMW Select program?
What is the BMW Select Program? BMW Select Financing is basically a financing option with a balloon payment at the end of the term. In other words, the final payment is often a percentage of the estimated MSRP of the vehicle based on the what the value of the car will be at the end of the loan.
What is BMW balloon amount?
You are purchasing the vehicle, but part of the purchase balance is added to the end of the contract as a final balloon payment amount. This is a way to reduce monthly payments during the contract’s set term, which brings the short-term cost benefits of a lease to the security of ownership.
Can I refinance through BMW?
You can refinance the final payment amount with BMW Financial Services. You can complete your purchase with the one final cash payment. You can TRADE or SELL the vehicle and if your vehicle is worth MORE than the final payment, you KEEP THE DIFFERENCE!
Is BMW select good?
BMW Select Financing is a good choice for the driver who is still developing their financial portfolio. It gives you time to save to make that final balloon payment, so you can get into a new BMW today. Worried about making the final payment? BMW Select Financing gives you flexible options.
Does BMW Select Finance include insurance?
Is BMW Select available with insurance? Comprehensive Insurance Cover is not included in the monthly payment but BMW Financial Services does offer a variety of insurance products through BMW Insurance.
What happens if I can’t pay my balloon payment?
The balloon payment is equal to unpaid principal and interest due when a balloon mortgage becomes due and payable. If the balloon payment isn’t paid when due, the mortgage lender notifies the borrower of the default and may start foreclosure.
What is BMW select?
BMW is the ULTIMATE driving machine and you are free to DRIVE at will with no mileage restrictions – in a BMW SELECT agreement YOU are the owner of the vehicle. The bond of ownership: Payoff your final balloon.
What are the financing options for a BMW?
Get all the benefits and security of ownership with low monthly payments. BMW Financial Services offers two balloon financing options – BMW Select and BMW Owner’s Choice – to get you behind the wheel. BMW i financing. If your dream is to drive electric, custom financing options for BMW i vehicles can make your dream come true.
What are the benefits of a BMW select agreement?
No mileage restrictions. BMW is the ULTIMATE driving machine and you are free to DRIVE at will with no mileage restrictions – in a BMW SELECT agreement YOU are the owner of the vehicle. The bond of ownership: Payoff your final balloon.
What is a balloon payment under BMW select balloon financing?
The final scheduled payment due under a BMW Select Balloon Financing retail installment contract is a balloon payment and is substantially larger than each of the other prior scheduled payments. BMW Select balloon financing is a retail installment sales contract with a balloon payment.