Lease & ED Question ...

[frisky]

Appologies for noobie question but here goes:

If you lease and are doing ED, the lease term starts when you pick up the car at the Welt, correct? Which means you are essentially paying a lease payment even during the time the car is in transit to the US, which can be up to 6 weeks? SO basically you pay for about a month of the lease term without actually having the car with you? Trying to decide whether to lease or purchase...

Wondering what the breakdown of users here that did ED are leasing vs purchasing. Might be an interesting poll.

Thanks in advance!
f.

[PhilT3]

You sign the financial paperwork about 10-14 days before you leave for Germany. That's when you make the first payment. BMW makes the second payment. BUT...they increase the MF (Money Factor) by .0003. So that pretty much nulifies that 2nd payment they pick up.

[frisky]

Originally Posted by PhilT3

You sign the financial paperwork about 10-14 days before you leave for Germany. That's when you make the first payment. BMW makes the second payment. BUT...they increase the MF (Money Factor) by .0003. So that pretty much nulifies that 2nd payment they pick up.

Ah, thanks for that info. So its not as bad as I thought. Although technically you still get to lease it for one less month of your term (eg: 35 months instead of 36) if you do an ED. But its still worth it - definitely gonna do ED.

Thanks!

[infamousq]

Originally Posted by PhilT3

You sign the financial paperwork about 10-14 days before you leave for Germany. That's when you make the first payment. BMW makes the second payment. BUT...they increase the MF (Money Factor) by .0003. So that pretty much nulifies that 2nd payment they pick up.

Aww ok does that .0003 applies to the whole term or just the month? P.S. I have never leased a car before and this will be my first with the ED

[frisky]

Originally Posted by infamousq

Aww ok does that .0003 applies to the whole term or just the month? P.S. I have never leased a car before and this will be my first with the ED

I think its just for that one payment that BMWFS makes for you whilst the car is in transit.

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[PhilT3]

Whole term. The MF is used to calculate the monthly payment for the life of the lease.
If you've never leased, def do your research. BMW's lease very well...IF you know what you're doing.

[frisky]

Originally Posted by PhilT3

Whole term. The MF is used to calculate the monthly payment for the life of the lease.
If you've never leased, def do your research. BMW's lease very well...IF you know what you're doing.

Thanks! Yes Been researching a lot thanks to this forum. A lot of great insights and info here! You guys rock! I wont be ordering my car until December (need ED in spring) so there's still time to really know my stuff before ordering.

Thanks!

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[GOLFFRR]

here is a ton of info on ED for you to browse through

http://www.bmwusa.com/Standard/Conte...liveryFAQ.aspx

You can also shoot David (ED king) and the team a message at the link in my signature. In the link you will also find a ton of useful info.

Hope that helps!

[frisky]

Originally Posted by GOLFFRR

here is a ton of info on ED for you to browse through

http://www.bmwusa.com/Standard/Conte...liveryFAQ.aspx

You can also shoot David (ED king) and the team a message at the link in my signature. In the link you will also find a ton of useful info.

Hope that helps!

Cheers! I have been in touch with David and he's been really helpful! Looking forward to working with him as I sort out my Individual build etc...


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[GOLFFRR]

^^Fantastic! Thank you for giving us the opportunity

[infamousq]

Originally Posted by PhilT3

Whole term. The MF is used to calculate the monthly payment for the life of the lease.
If you've never leased, def do your research. BMW's lease very well...IF you know what you're doing.

So BMW doesn't really make the payment they just spread it over the whole lease then correct?

Originally Posted by GOLFFRR

here is a ton of info on ED for you to browse through

http://www.bmwusa.com/Standard/Conte...liveryFAQ.aspx

You can also shoot David (ED king) and the team a message at the link in my signature. In the link you will also find a ton of useful info.

Hope that helps!

You can't build the cars on Davids website like the old website?

[M5KRZI]

looks like you're in good hands and will be doing exactly what I just did with David and the Steve Thomas team - i just got back from taking re-delivery at NorthWest BMW (Baltimore) on Saturday!!!

i did ED mid April, car was paid for (lease) a week or so before. dropped off at Munich Airport end of April (4/29). as others have mentioned the MF on ED is calculated differently and BMW pays the second payment as part of the program. i just made my third payment. its kind of a no brainer esp. with solid residuals...IMHO

BMW estimates 8-10 weeks for redelivery - so be patient if it works out to be in that time frame. its all trackable (except for the details at US customs which can be a drag) so you can manage your expectations. i didn't.

david is seriously awesome - so you're in really good hands. good luck!

a

[frisky]

Originally Posted by M5KRZI

looks like you're in good hands and will be doing exactly what I just did with David and the Steve Thomas team - i just got back from taking re-delivery at NorthWest BMW (Baltimore) on Saturday!!!

i did ED mid April, car was paid for (lease) a week or so before. dropped off at Munich Airport end of April (4/29). as others have mentioned the MF on ED is calculated differently and BMW pays the second payment as part of the program. i just made my third payment. its kind of a no brainer esp. with solid residuals...IHMO

BMW estimates 8-10 weeks for redelivery - so be patient if it works out to be in that time frame. its all trackable (except for the details at US customs which can be a drag) so you can manage your expectations. i didn't.

david is seriously awesome - so you're in really good hands. good luck!

a

Thanks for the tips! I just took a look at your ED report thread and even more excited! You had a great itinerary. Looks like we're very similar in that we both went from an E46M3 to an F10M5. Ive had my M3 since I took delivery of it in 2003 and it still drives and runs like new. I guess it helps that I hardly ever drive it, being that I live in NYC and all... hah. Will be quite a nice leap going from that to the M5!

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[2045]

just FYI take ur time to sign the contract. i signed it the day before left to Germany. as long as u're approved u can even sign it the day u're leaving.