Refinance BMW balloon payment

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Lord Anubis

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I bought a BMW in 2006 and the balloon payment is due in a couple of months. Any advice on the best way or bank to use to refinance the balloon?
 
Is the balloon amount over R100k? Best to speak to your current financier and negotiate a better rate. Next time you opt for residual make sure it's a guaranteed buy-back from the dealer so you can drive off with a new BMW every 4.5 years.
 
Dude, you should have saved that amount by now. Next time don't go for a residual if you can't pay it in one lump sum.
 
this is what you get if you wanna drive a car you cant really afford ;-)

Speak to the guys at 0861 BMWFIN they give great rates for BMW owners.
 
I don't see the OP asking for advice on whether he did the right thing or not.

He specifically asks for: "Any advice on the best way or bank to use to refinance the balloon?"
 
The thing about the balloon payment is you take it because that is what you can afford, so actually he can afford the payments just not the payments with no balloon involved.

Make sure you go to a couple banks or else you may end up paying a higher interest rate.
 
dotnerd said:
this is what you get if you wanna drive a car you cant really afford ;-)
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+1 unfortunately.

dotnerd said:
Speak to the guys at 0861 BMWFIN they give great rates for BMW owners.
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Yes. BMW does seem to treat current BMW owners better. When my dad was looking at buying a new car BMW offered 40k more trade-in than the others (merc, audi etc).
 
I have a guarenteed buy back and the issue for the balloon was not payment plan lol. It was a company car allowance structure issue. I owe around R130k. I was planning on getting the new car as this is the 3rd BMW I have driven like this but am thinking of giving this one as a gift to someone (its still in mint condition with only 20000kms) and therefore want to keep it. As I have never had to deal with paying baloons before as I always exchanged the car or had one on lease, I thought I may actually get some tips here. Unfortunately it seems I was wrong. I was going to speak to BMW anyway. Just thought someone here knew something. Oh well..seems the tactic lately on this forum is to just frustrate any request for advice with bullcrap!
 
Lord Anubis said:
Oh well..seems the tactic lately on this forum is to just frustrate any request for advice with bullcrap!
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You got judged on the info you provided. Had you provided the reasoning behind what looked like a dodgy decision straight away you would perhaps gotten less flak. Besides, first person to respond answered the question. Hell, you even got the phone num to call.
 
HavocXphere said:
You got judged on the info you provided. Had you provided the reasoning behind what looked like a dodgy decision straight away you would perhaps gotten less flak. Besides, first person to respond answered the question. Hell, you even got the phone num to call.
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and what bullcrap is that? Judging someone they don't even know coz of a balloon payment and treat him like an idiot? how moronic, low class, retarded and ****ing narrow minded is that? if they don't like someone coz of a balloon payment then they should better stay away and not give stupid answers. damnit, how much I hate those moralizing hypocrites.
 
Lord Anubis said:
I have a guarenteed buy back and the issue for the balloon was not payment plan lol. It was a company car allowance structure issue. I owe around R130k. I was planning on getting the new car as this is the 3rd BMW I have driven like this but am thinking of giving this one as a gift to someone (its still in mint condition with only 20000kms) and therefore want to keep it. As I have never had to deal with paying baloons before as I always exchanged the car or had one on lease, I thought I may actually get some tips here. Unfortunately it seems I was wrong. I was going to speak to BMW anyway. Just thought someone here knew something. Oh well..seems the tactic lately on this forum is to just frustrate any request for advice with bullcrap!
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This forum consists of 90% idiots and losers who will criticize any and everything that is posted. Best ignore them bud.
 
Anony-mousse said:
and what bullcrap is that? Judging someone they don't even know coz of a balloon payment and treat him like an idiot?
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Everyone is being judged at all times whether they like it or not.

Anony-mousse said:
how moronic, low class, retarded and ****ing narrow minded is that?
if they don't like someone coz of a balloon payment then they should better stay away and not give stupid answers. damnit, how much I hate those moralizing hypocrites.
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:erm:
 
I am an idiot.
I am a loser.
The balloon payment option rocks! Check the low interest rate available now compared to when the car was purchased! Win! Win! Win! You were damn lucky with your financing there, I am envious.

Anyways, do you have a bond that you have overpaid? You should consider converting it into an access bond and using some of that money to cover the missing capital.
 
Lord Anubis said:
Oh well..seems the tactic lately on this forum is to just frustrate any request for advice with bullcrap!
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This does need to be nipped in the bud! There are far too many forum members who have been given the false impression that they are comedians and hence come into every thread and fsuk around. I blame threads like TK for creating this mentality!

There should be strict rules that all responses need to clearly be on topic unless it is posted in off topic (and even then only if the subject is such that it is clearly meant in humour).

The usefulness of this forum is definitely diminishing by the day. Serious advice threads are not responded to or bumped down the list by other crap...

And I am fully aware that I have not provided assistance but if it were not for the direction this thread has taken I would have had the decency to stay out of it.
 
I'm all for a few laughs now and then and probably guilty for stirring a bit here and there, now and then, but its just getting irritating if you ask a normal question and come back an hour later to wade through all the tripe..that's why we have OT and CA for :). But seriously, it is annoying, but considering my age and the years I've been on this forum, my patience is wearing thin lately. A couple of years ago people were kind of more restrained in the more serious parts of the forum. Now its all OT'ish :(
 
Agreed.

In the motoring section (motoring enthusiasts), I posted a summary of acceleration times of performance cars. First two pages are how irresponsible I am, why would anyone care, how XYZs brother was killed by speed etc

Anyway - I also don't see why he needs to post all information as to not be judged? Makes no difference as the question is the same and that's only what he wants to know
 
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