MF/Resid.. Lease? Here's my build!

[corrado79]

Originally Posted by AGS

Multiple Security Deposits.

BMW FS offers the opportunity to put down more than one security deposit (up to 7), with each one reducing the money factor on your lease by .00007. If you do all 7 it reduces the MF by .00049 which is the approximately the equivalent of 1.2%. It's a great program - for me it equated to a guaranteed, after-tax return of 9.4% on the "investment".

When do you get the deposit back, at turn in?

What happens under the totaled car example given earlier? Does the deposit get returned or is it kept by BMWFS?

[AGS]

Originally Posted by corrado79

When do you get the deposit back, at turn in?

What happens under the totaled car example given earlier? Does the deposit get returned or is it kept by BMWFS?

Yes, when you return the car BMW FS returns the MSDs.

If your car is totaled you should still get the money back. Your insurance plus any GAP insurance should cover the cost of the car.

[corrado79]

Originally Posted by AGS

Yes, when you return the car BMW FS returns the MSDs.

If your car is totaled you should still get the money back. Your insurance plus any GAP insurance should cover the cost of the car.

The "should" get your money back makes me nervous. Sounds like BMWFS has some discretion to keep my deposit if the insurance company does not handle their business.

[AGS]

Originally Posted by corrado79

The "should" get your money back makes me nervous. Sounds like BMWFS has some discretion to keep my deposit if the insurance company does not handle their business.

I do not think BMF FS has discretion. I used the word "should" because I've (obviously) not researched the laws of every state to see how individual auto insurance and GAP insurance work in all situations, both where the driver is and is not at fault. It would be misleading for me to definitively state that in all cases BMW FS would have no right to withold a portion of the MSDs. Generally speaking, if you make all of your monthly payments at the end of the lease you would get all of the MSDs back unless you asked them to net an end-of-lease charges or the disposition fee (if applicable) against it. I would call BMW FS customer service and ask them how it works in your state.

[corrado79]

Originally Posted by AGS

I do not think BMF FS has discretion. I used the word "should" because I've (obviously) not researched the laws of every state to see how individual auto insurance and GAP insurance work in all situations, both where the driver is and is not at fault. It would be misleading for me to definitively state that in all cases BMW FS would have no right to withold a portion of the MSDs. Generally speaking, if you make all of your monthly payments at the end of the lease you would get all of the MSDs back unless you asked them to net an end-of-lease charges or the disposition fee (if applicable) against it. I would call BMW FS customer service and ask them how it works in your state.

Fair enough. I should call BMW FS.

Last dumb question: Can I expect GAP insurance to be automatically included in my BMW FS lease, or do I need to request that?

[AGS]

Originally Posted by corrado79

Last dumb question: Can I expect GAP insurance to be automatically included in my BMW FS lease, or do I need to request that?

Yes, BMW FS leases include GAP insurance in the event of a total loss.

[gavinlibra1974]

Where can I get current residuals and MF for 2013 M5?

Also, what are BMW Apps and BMW FS loyalty rebates and how do you get them?

Thanks!

[dmn8]

You get your money back on the msd because it is nothing more than a security deposit on the lease contract. Gap insurance would come into play if you did a cap cost reduction and had an upside down vehicle loss.

[cmhsam]

Originally Posted by gavinlibra1974

Where can I get current residuals and MF for 2013 M5?

Also, what are BMW Apps and BMW FS loyalty rebates and how do you get them?

Thanks!

http://www.ridewithg.com/index.php/2...december-2012/

[gavinlibra1974]

Am I blind or are there no residuals for 2013 M5 on ridewithg website?

[gavinlibra1974]

Originally Posted by cmhsam

http://www.ridewithg.com/index.php/2...december-2012/

There are no residuals for 2013 M5 on this website?

[Rohardi]

Originally Posted by gavinlibra1974

Where can I get current residuals and MF for 2013 M5?

15,000 miles = 48%
12,000 miles = 50%
10,000 miles = 51%

[TheStig]

Can Someone Explain to me how this MSD / MF Thing works?

[AGS]

You can put down up to 7 security deposits, and for each one you "buy-down" the money factor by .00007. So the current money factor is .00125, if you put down the maximum MSDs you would reduce the MF to .00076 [.00125 - (.00007 * 7)]

[gavinlibra1974]

Can anybody tell me what the BMW apps and FS Loyalty rebates are and how to get them?

Also, are there any other rebates that I can get?

This will be my third lease in a row with BMW Financial.

Thanks in advance

[lllwlf]

If you're a returning BMWFS customer, you're eligible for the rebate. You get the apps from the apps store.

[gavinlibra1974]

How much of a rebate are the FS loyalty and BMW apps rebates?

[greentrbo95gst]

How much does each of the 7 security deposits have to be to get a MF discount?

[AGS]

Originally Posted by greentrbo95gst

How much does each of the 7 security deposits have to be to get a MF discount?

Each security deposit equals one month's payment.