What is BMW Select Financing?

A 2020 BMW X5 driving at night

For Chicago and Park Ridge drivers looking for BMW financing options,

BMW Select is a different way to approach vehicle ownership. It combines the benefits of traditional financing and leasing a vehicle, so have a new BMW with a plan that makes sense for you. Learn more at Perillo BMW, then contact us with any questions!

How Does BMW Select Work?

BMW describes the BMW Select Program as “a retail installment sales contract with a balloon payment.” How do you know if it’s the right option for you? Find out how it works and what the benefits of the Select balloon financing program include below:

  • 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.

Please note that BMW Select is not available in the following states: IL, NC, ND, NH, NV, PA, TX and WV.

What is BMW OwnersChoice Balloon Financing?

BMW OwnersChoice Balloon Financing is now available in Georgia, Illinois, and Texas. It is a retail installment sales contract with a balloon payment that is much larger than the previously scheduled monthly payment–combining the low monthly payments of leases and the security of vehicle ownership. As is the case with BMW Select Financing, the final balloon payment amount is determined by several factors:

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

BMW Financing Options in Chicago

Want to learn more about your options for financing a new or used BMW near Oak Park? Rely on the experts at the Perillo BMW Finance Center. Once you’ve found the BMW that you want to take home, apply for financing online before visiting Perillo BMW to get a head start on the financing process!

Perillo BMW 41.9015111, -87.6310353.