Anyone familiar or have experience with BMW Select financing? I already own a Bimmer but I'm contemplating getting another one and I'm not sure on whether I should lease or buy new, or buy a CPO. I like the new body style on the 2012 5 series and that is also the only newer 5 series model with xdrive (live in New England). My old car payment on the CPO I bought a few years ago was $550 a month.I was able to pay it easily but this time around I really want to avoid such a high payment. i'm hoping that my 07 530I can give me a trade value of at least 15k so I'm really leaning toward a 2012 5 series. Just wasn't sure exactly how the Select program worked. I drive way too much for the mileage restriction on a lease, but then I figured I could always buy the car at the end of the lease anyway. And did I mention that I preferably only want to keep the car while its under the New Car Warranty (hoping to negotiate that for 100k in miles vs the standard 50k) Any advice would be appreciated. Thank you all, and thank you for helping me take my credit scores from the 550's to the 750's in a year! 
@andre181 wrote:I looked into this recently with Mini, as I want a Mini Countryman (BMW owns Mini)
BMW Select is basically a balloon payment type loan, and is structured very similary to a lease with the exception that you own the car and there are no milage restrictions.
You purchase the car and finance it over a 4-6 year term and at then end of that term, there is a "balloon payment" to be made as your last payment. The last payment is about 1/3 of the purchase price of the car (or at least with was with the Mini Countryman I looked at). You can either pay the balloon payment cash, or refinance with an outside lender. Of course, BMW hopes that instead of paying that balloon payment, you will trade your car in and finance a new one.
So to summarize, BMW Select allows you to have low monthy payments for 4-6 years, like a lease. It allows you to own the car vs. leasing. You can also drive as much as you want, without fear of milage restrictions.
Its a great way to finance IMO, if you can afford to pay that balloon payment.
Interesting.... I kind of like this financing idea.... never knew BMW did that. Course everything might change by the time I'm ready for a new car...
FICO 9: 
Filed Chapter 13 on 6/1/2017 after job loss. Discharged 6/1/2022.
Goal: Gardening!
Filed Chapter 13 on 6/1/2017 after job loss. Discharged 6/1/2022.
Goal: Gardening!