How Do I Work Out The 'Balloon' Payment ?
11-08-2010, 06:36 AM
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Hi Guys:
While waiting for delivery of my F10, I thought I would compare financing option on bmwusa.com
For the 'BMW Select' option, it is telling me what my monthly payment will be but is not showing me what the 'balloon' payment will be at the end of the finance period. Is there an easy way for me to work this out?
I called BMW finance but they just referred me to my dealer, who I don't want to ask at this stage.
Thanks in advance.
Roger
While waiting for delivery of my F10, I thought I would compare financing option on bmwusa.com
For the 'BMW Select' option, it is telling me what my monthly payment will be but is not showing me what the 'balloon' payment will be at the end of the finance period. Is there an easy way for me to work this out?
I called BMW finance but they just referred me to my dealer, who I don't want to ask at this stage.
Thanks in advance.
Roger
11-08-2010, 06:50 AM
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My Ride: 2008 535i:
(8/07 Build) Metallic Bronze, Beige NASCA Leather, Ventilated Seats, Sport Pkg, Cold Wxr Pkg, Logic-7 Sound, HUD, Night Vision, PDC, Split Rear Seats, NAV, Premium Pkg, Comfort Access, HD Radio, Sport Auto Trans
Current mods: M-Aero Kit, JB4, Motorcepts 6000k HID Foglamps
Umnitza ICE-Lite 10w LED 6000k AE's
1992 Camaro RS:
Fully Restored w/Custom Interior, 5.0L V8, T-tops, OEM Z28 Foglamps, Inst Cluster, & Spoiler, Custom Sound, Too many engine mods to list
Are you leasing? If so, why would you be interested in the balloon payment if you already have the other financial variables. You are giving the car back to BMW at the end of the contract.
You could probably find an online financial calculator that will show you the balloon payment if you input all the other info.
You could probably find an online financial calculator that will show you the balloon payment if you input all the other info.
11-08-2010, 06:58 AM
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Are you leasing? If so, why would you be interested in the balloon payment if you already have the other financial variables. You are giving the car back to BMW at the end of the contract.
You could probably find an online financial calculator that will show you the balloon payment if you input all the other info.
You could probably find an online financial calculator that will show you the balloon payment if you input all the other info.
No, not leasing. BMW Select is where you own the car, pay reduced payments for your chosen term and then pay a single 'balloon' payment at the end.
Roger
11-08-2010, 07:24 AM
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My Ride: 2008 535i:
(8/07 Build) Metallic Bronze, Beige NASCA Leather, Ventilated Seats, Sport Pkg, Cold Wxr Pkg, Logic-7 Sound, HUD, Night Vision, PDC, Split Rear Seats, NAV, Premium Pkg, Comfort Access, HD Radio, Sport Auto Trans
Current mods: M-Aero Kit, JB4, Motorcepts 6000k HID Foglamps
Umnitza ICE-Lite 10w LED 6000k AE's
1992 Camaro RS:
Fully Restored w/Custom Interior, 5.0L V8, T-tops, OEM Z28 Foglamps, Inst Cluster, & Spoiler, Custom Sound, Too many engine mods to list
Although I'm not a fan of leasing - IMO I think its better than what you are considering since you might be stuck with an undesirable balloon payment due to upredictable circumstances(ie - payment ends up higher than future market reslae value, rising interest rates)
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