Owners Choice

H

hosagod

2
#1
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TX
#1
Can someone explain what this really is? Especially the part about "getting a new BMW and selling your old one back at a predertermined price"...So is owners choice basically financing with really low payments? And could you use the value of your old car as down payment towards the new BMW? I just need to know what this Owners Choice option really means...

Owners Choice -
1.You can get a new Bmw and sell your bmw back to us at a predetermined price.-->?????
2.You can refinance the balloon payment amount.
3.You can complete your purchase by making the balloon payment.

-Thanks[8]
 
B

BAMA

New Member
#2
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Tampa Bay
#2
I'm guessing from what you're saying that you leased. If this is a regular lease, what you need to be concerned about is the amount of your balloon payment vs. the value of your car. IE, if your balloon payment is $10,000 and the car is worth $20,000 at the end of your lease (pretty avg. figures for a new or slightly used BMW), then it would be better to buy it outright and gain the $10k. But if you went for a "dealer's special", you may end up owing more than what it's worth and it might be better to turn in the keys. The bottom line is always how much you owe vs. how much the car is worth. American cars will typically screw you. BMWs keep over 50% of their value at 5 years, so you have few extra options. Hope this helps.
 
MyHarley

MyHarley

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#3
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Houston, Texas
#3
Its a type of lease............example......my list was $48 and change, the buy out (if I choose) in 3 1/2 years is $24 and change or just turn it in and get another one and start all over....
 
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