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What is unique about the current Select program on the M3/4, both have a 38% balloon factor (elite credit tier).
That means, your final payment on a 60 month Select, would be 38% of the MSRP. That means you will be able to have a payment less than a lease on the M3/4.
Select base interest rate is 1.9%. Dealership can mark up, so be on your game.
You can get GAP insurance on a Select program. The cost can be from 65 to 525, depending on car and term..
Downside on the Select loan, is the high likelihood ( basically guaranteed) negative equity. If you plan on keeping it 7 years, the select will give you a much lower payment. You can pay extra to the loan when you can and at the end of 5 years, refi the balance.
Best of luck!
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