Mini Select Financing - MINI Cooper Forum

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post #1 of 3 (permalink) Old Apr 9th, 2018, 12:23 AM Thread Starter
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Mini Select Financing

Is it worth it? How does it work?

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post #2 of 3 (permalink) Old Apr 10th, 2018, 10:38 AM
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I've used it a couple of times. It's BMW's way of lending you money. The rates are not as good as your local bank (probably) but you do get the option to defer payback of a portion of the loan for 3-4 years, thus reducing your monthly payments. This is known as a balloon payment at the end of the term. You either pay them the balloon amount and keep the car, or else trade in the car to pay off the balloon. They usually structure the agreement such that the car is worth more than the balloon.


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post #3 of 3 (permalink) Old Apr 11th, 2018, 03:48 PM
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If the car is worth more than the balloon payment at the end of the contract you can also use this difference as a deposit for the next car

Say if its 8k and the car is valued at 11k you can hand it back and get a 3000 deposit

In the UK you can do this between manufacturers too, not sure about in US

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