2014 438i lease - no select option?

[bin0101]

[EDIT 435i] mybad

Hey guys, Im about to get a new bimmer so hit the dealership yesterday to test drive a 438i fully loaded - loved the car and worked out a lease.

My dealer said the select option is going away here in Georgia because the laws are changing and you wont need to pay taxes again if you buy the car after the lease.
Plus my monthly payments would be alot higher than what he was doing for me on the lease deal.

this sound accurate to everyone?

Im planning to buy the car after 3 years if its not a lemon and the main reason im leasing is to reduce the chances of being stuck with a problem car.. with the added benefit of getting more car for my buck up front.
I just assumed that SELECT would give me a better deal than the lease so was surprised and am just checking how accurate this might be or if my sales man is trying to steer me away from it for some reason.


Thanks in advance

[rolltidef30]

I'm in GA also. He's. Not steering you wrong. Select sucks with the big ballon payment at the end; think mortgage crisis of the past decade.

Only way select is good, is if you plan to drop around $10K on the down payment, shrinking your ballon a bit; but this defeats the purpose.

A straight Lease is much smarter money. If you plan to buy at the end, the even smarter money move is to then extend the warranty, and only finance for 24 to 36 mo at most. Good luck with your purchase!

[bin0101]

I understand the mortgage crisis all too well. Even though I didn't have one of those mortgages, my property value went upside down as a result. Which led to me doing a 15 year re-fi, taking alot of extra money out of my pocket to close the gap faster so I can walk away sooner. The very reason I cant afford to do a 60 month finance today! :(

I do plan to put a lot down and buy the car at the end. A balloon payment would work fine for my situation. I can afford to finance the 62% residual in 3 years but not the full cost of the car now. (technically i can afford it, but Id rather not use my ENTIRE "quality of life" budget on a car) 50% - no problem. 100% - no car :nono

In my past experience (roommate along time ago) had worked out a lease in the mid six hundreds a mo but BMW select got him down to the low 5 hundreds. Im in pretty much the same situation now but with no SELECT option to drop me down which is disappointing.

But thank you for weighing in. Im still curious if this is really going away and no longer available for situations like mine.
Ill be hitting more dealerships after work this week so im sure ill find out.