[SevenNine]

Hello,

I'm trying to figure out how is the payment calculated with BMW Select option. Can anyone with experience help me understand if I have it correctly?

Let's use the following example:

MSRP = $45,000

Residual value is $15,000

Sales tax is 10%

Interest rate is 4%

Sale price = MSRP

(msrp - residual) + sales tax = loan amount / 60 at 4%

(45,000 - 15,000) + 4,500 = 34,500 / 60 at 4% = 635.37 monthly payment

Do I have this correct? The residual of 15,000 is the ballon payment. That is paid at the end. Correct?

If I use 5,000 downpayment that brings the sale price and sales tax amount down thus makes the monthly payment lower.

45,000 - 5,000 = 40,000 with 4,000 sales tax.

45,000 - 5,000 = 40,000 - 15,000 = 25,000 + 4,000 = 29,000 / 60 at 4% = 534.08

Are my calculations correct or am I missing something?

Thanks in advance