BMW Select Question

325_bucks · 03-08-2013, 05:30 AM

Does anyone have any experience with using BMW Select and specifically with overpaying on the agreement? I have a select agreement and they said I could overpay without penalty when i wanted, but i want to know if any overpayments will go towards the capital or will it first go towards the interest? Ideally I want to overpay to reduce capital and therefore pay the agreement off quicker.

Thanks

dotmit · 03-08-2013, 09:57 AM

It says in the small print, but it goes against the capital first I think. There was some change in FSA regulations a while back that forced it if I'm not imagining things...

325_bucks · 03-08-2013, 09:58 AM

Thanks for your reply, thats good to know, ill have to dig out the paperwork and have a look then, if anyone else knows for sure then please say. My paperwork is more than buried right now

03-08-2013, 05:30 AM	#1
325_bucks Captain 115 Rep 835 Posts Drives: F90 M5 Competition Join Date: Jan 2013 Location: High Wycombe iTrader: (1)	BMW Select Question Does anyone have any experience with using BMW Select and specifically with overpaying on the agreement? I have a select agreement and they said I could overpay without penalty when i wanted, but i want to know if any overpayments will go towards the capital or will it first go towards the interest? Ideally I want to overpay to reduce capital and therefore pay the agreement off quicker. Thanks
	Appreciate 0 Tweet Quote

03-08-2013, 09:57 AM	#2
dotmit Private First Class 3 Rep 143 Posts Drives: E93 325i \| K46 S1000RR Join Date: Nov 2012 Location: EC3 iTrader: (0)	It says in the small print, but it goes against the capital first I think. There was some change in FSA regulations a while back that forced it if I'm not imagining things... __________________ I'm new. Go easy on me
	Appreciate 0 Quote

03-08-2013, 09:58 AM	#3
325_bucks Captain 115 Rep 835 Posts Drives: F90 M5 Competition Join Date: Jan 2013 Location: High Wycombe iTrader: (1)	Thanks for your reply, thats good to know, ill have to dig out the paperwork and have a look then, if anyone else knows for sure then please say. My paperwork is more than buried right now
	Appreciate 0 Quote