01-07-2015, 01:58 PM | #1 |
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Timing of MSD Refund?
Any experience shared by the board on how long it took BMW Finance to refund your MSD's after lease end would be appreciated - and is it done immediately when you return the car, or by check to your home address or other?
Thanks in advance! Background: I put max MSD's down on my 2012 M3 three years ago - and max MSD's down again in November 2014 on the M5. BMW has become a small ticker symbol for my portfolio, and worth the "investment" It just occurred to me that I should be seeing a refund on the M3 MSD's - (bonus) - just unsure of the timing and how it gets distributed.
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01-08-2015, 06:22 PM | #3 |
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What is MSD?
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01-08-2015, 06:29 PM | #4 |
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MSD = Multiple Security Deposits
It helps buy down the money factor and they are fully refundable.
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01-08-2015, 11:12 PM | #5 |
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Sorry, I don't mean to hijack your thread. But, how does this work? I haven't heard of this. If you have a link/source rather than explaining here I understand. Thx.
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01-08-2015, 11:35 PM | #6 | |
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Quote:
http://bmwconfig.com/post/2011/04/14...nvestment.aspx BMW FS allows up to a maximum of seven MSD's. If leasing, I would recommend using MSD's versus putting any cash down on a leased vehicle. Unlike cash down, MSD's are risk free in that you are guaranteed to get them back... even if your vehicle is totaled for a loss during the lease period.
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01-09-2015, 12:17 AM | #7 | |
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Quote:
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01-09-2015, 12:26 AM | #8 |
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Good point if you believe you may do a lease swap. Something I've never done, but important to consider if/when leasing I suppose.
I still would never reduce cap cost with cash down on a lease. Just my $02.
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01-09-2015, 11:04 AM | #9 |
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In most instances, I've been able to have the existing MSD funds from my active lease transfer directly to the dealership for the next vehicle.
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01-10-2015, 11:31 PM | #10 |
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Anywhere from 2 weeks to a month; FS will send you a check in the mail. Count on a month - they seem to be slower to send the $$$ lately
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01-11-2015, 09:06 PM | #11 |
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Thanks - super helpful!
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01-11-2015, 09:07 PM | #12 |
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Thank you! I'll remember to ask for this next time.
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01-31-2015, 01:22 AM | #13 |
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Got mine in about 2-3 weeks
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