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What is BMW Select Financing?

Man leaning against his BMW

If you are shopping for a new BMW in New Haven or Cheshire, BMW Select is a financing option available to you. It’s somewhere in between traditional financing and traditional leasing, drawing different benefits from each to offer another option to drivers. Learn more at BMW of North Haven, then contact your local authorized BMW finance center if you have any questions or want to get started on the financing process.

What Are the Benefits of the BMW Select Program?

How does BMW Select work? BMW describes it as “a retail installment sales contract with a balloon payment,” and it is also known in more general terms as Select balloon financing. Below are some things that set it apart from traditional car financing:

  • 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.
  • When the contract is up, you have flexible end of term options: you can either refinance the final payment, or you can choose to pay it off.
  • The final balloon payment amount depends on several factors, including the estimated future market value of a financed vehicle, creditworthiness, and contract terms.
  • BMW Select is not available in the following states: IL, NC, ND, NH, NV, PA, TX and WV

What is BMW OwnersChoice Balloon Financing?

This version of BMW financing is only available to residents of Illinois, Texas, and Georgia, and like BMW Select Financing, it combines the low monthly payments typical of leases, but with the added security of vehicle ownership. As with the BMW Select Financing, the final balloon payment amount depends on factors including:

  • Creditworthiness
  • Contract terms
  • Estimated future market value at the end of the contract term

Explore Your Financing Options at BMW of North Haven

If you want to see if BMW Select balloon financing is an option for you in Branford or Hamden, BMW of North Haven can help. Contact your local authorized BMW Finance Center when you’ve found the BMW that’s right for you, and we’ll help you get started!

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