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Discussion Starter · #1 ·
Hello. I am brand-new to the forum and applaud the involvement from the forum members to help folks like me. My wife and I both drive VW TDI's however our family is growing and we need to upgrade our Golf to a larger vehicle. As such, we were enticed by the X5 35d for many reasons and are looking to make the purchase soon.

We are planning to purchase/finance (not lease) and I'm interested in details on the BMW Select program. We will be putting about 30% down on the car and financing the rest, but would like the convenience of lower monthly payments for the time being while we sell our Golf TDI on our own. Thus, I have a couple questions:

1) I've read that the interest rates for Select match that of the traditional finance (e.g., 2.9% currently for the X5). Is that correct?

2) Does anyone know what the "residual %" or "balloon payment" would be on the X5 for 36, 48, and 60 month Select terms?

3) Is there a pre-payment penalty with Select? I saw one forum post which said no, but would like to confirm.

4) Finally, I'm guessing with the above information, I can calculate the monthly payments and compare vs. traditional financing. Is there anything else I'm missing?

Thanks and hope to be a 'participating' member of this forum soon while driving a new 35d! :)
 

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Until 6/1, the Select rate is 2.9%/48 month residual is 37% and the 60 month residual is 31% (why even consider a 36 month?).

No prepayment penalty.
 

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Discussion Starter · #4 ·
Thanks. Is the residual calculated off of the MSRP or the negotiated price? Also, how does the amortization work? Is interest charged on the residual value at the end of the term?

Until 6/1, the Select rate is 2.9%/48 month residual is 37% and the 60 month residual is 31% (why even consider a 36 month?).

No prepayment penalty.
 
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