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      07-26-2019, 12:29 PM   #1
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Paying for your BMW on ED

I'm doing ED in just over a week, and I've been told by my dealer that I need to pay in full before I head to Munich. A colleague of mine did ED a few years back and said that he didn't think he had to pay for all of it up front, but wasn't sure.

What experience did you have? Did you have to start the lease, or financing before picking up your your car at the Welt? If you paid cash like me, did you have to pay it all up-front before doing ED?
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      07-26-2019, 12:45 PM   #2
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I did ED in early June. I financed thru BMW FS. I signed finance papers and paid down payment a couple days before I left for Munich so yes you pay for the car BEFORE you leave for Munich and take possession of the car.

This is no different from buying a car from dealer lot. You pay for the car before you drive off with the car.

I am curious....when do you think you should pay for the car?

Last edited by somberlaine; 07-26-2019 at 12:51 PM..
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      07-26-2019, 01:06 PM   #3
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Quote:
Originally Posted by somberlaine View Post
I did ED in early June. I financed thru BMW FS. I signed finance papers and paid down payment a couple days before I left for Munich so yes you pay for the car BEFORE you leave for Munich and take possession of the car.

This is no different from buying a car from dealer lot. You pay for the car before you drive off with the car.

I am curious....when do you think you should pay for the car?
I think his issue is probably paying in full with cash for the car before seeing it.
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      07-26-2019, 01:22 PM   #4
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Quote:
Originally Posted by somberlaine View Post
I am curious....when do you think you should pay for the car?
I guess I'm just not used to paying for a car before I can drive it off the lot. I thought maybe a big deposit or something like that. It would be tougher if I was leasing and had to make payments while not having the car in the weeks after returning. I suppose that is the price one pays for the joy of ED.

On the upside my SA is willing to evaluate my trade in at the time I leave, and then let me continue using it until I take possession of the new car.
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      07-26-2019, 02:46 PM   #5
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frosty, paid for my M2 in full before leaving Hawaii.

My prior car to the M2 was special ordered as well. My SA at the other dealer let me keep my trade in until the new car came in. They gave me a price on the trade, and if the trade came back in the same condition, when the new car arrived, we were good to go. Really awesome when you find a good SA.

Enjoy your ED!
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      07-26-2019, 09:08 PM   #6
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Yes, gotta pay up front for ED - should be confirmed in the documentation. The lame part is you have to pay in full 7-10 days ahead of the ED date - this is the contract date and your 4-year warranty starts on that date. Not a big deal in the long run (and worth it for the ED experience) but it's pretty lame to have the warranty clock start ticking before delivery.
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      07-26-2019, 11:14 PM   #7
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I've been struggling with the idea of paying cash up front for 1) a car I won't see for another month, and 2) a car I won't see for 6-8 weeks while its out of my hands during transport/prep/etc.

As a result, I was hatching a plan to put the cash in a certificate of deposit earning 2.74% while borrow against the car at a rate of 2.99%, all through my local credit union. This puts me essentially PnL neutral while I retain control of the cash. I couldn't convince my credit union's underwriter to open the loan....they were stuck on timing of the title/possession as well as the fact that their collateral would be outside the US somewhere.

It appears you can get 2.99% via BMWFS through July 31 so think I'll go that route while still putting cash in a certificate via local credit union.

I would think the warranty starts on the vehicle's in-service date which is when you take possession, not when your loan starts. This is something I have not looked in to in any detail.
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      07-27-2019, 03:13 PM   #8
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Quote:
Originally Posted by bobert View Post
Yes, gotta pay up front for ED - should be confirmed in the documentation. The lame part is you have to pay in full 7-10 days ahead of the ED date - this is the contract date and your 4-year warranty starts on that date. Not a big deal in the long run (and worth it for the ED experience) but it's pretty lame to have the warranty clock start ticking before delivery.
The warranty starts on delivery date. In my case, I signed the contract on 5/31/19 and picked up the car in Munich on 6/6. Connected drive subscriptions also started on delivery date
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      07-28-2019, 04:40 AM   #9
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Originally Posted by somberlaine View Post
The warranty starts on delivery date. In my case, I signed the contract on 5/31/19 and picked up the car in Munich on 6/6. Connected drive subscriptions also started on delivery date
I hope that's the case (for the warranty to start on delivery date), as it doesn't seem right otherwise, but that's the clear answer I got when I explicitly asked my SA this question two years ago; however, it's certainly not infeasible that he was wrong. I'll see what the local service dept says.
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      07-29-2019, 01:15 PM   #10
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when is your ED ? mine is Aug 1. I had to sign BMW FS papers last week and put downpayment
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      07-29-2019, 03:24 PM   #11
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when is your ED ? mine is Aug 1. I had to sign BMW FS papers last week and put downpayment
I'm doing pickup at the Welt on August 6th, but I'm flying out on the 2nd to spend a few days in and around Munich. Insanely excited. I have to pay and sign all the papers on the 31st.

Enjoy your pickup!
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      07-30-2019, 07:19 AM   #12
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Quote:
Originally Posted by frosty2k View Post
I'm doing pickup at the Welt on August 6th, but I'm flying out on the 2nd to spend a few days in and around Munich. Insanely excited. I have to pay and sign all the papers on the 31st.

Enjoy your pickup!
I did the same thing a few years ago with my F80. It was a great idea. We stayed in an Air B-n-B down in Marienplatz for a few days before we picked up the car. Did the BMW factory tour and museum the day before pick up so we could take our time and not rush the delivery events. Also, got to see a lot of Munich without having to worry about parking the M3. Once we did pick up the car, we drove out to Salzburg since we had been in Munich for a few days.
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      08-01-2019, 01:05 PM   #13
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So I went to the dealer yesterday to pay for the car, cash in hand, and I was told they made a mistake. I had two options, trade in the car in now, or pay for the car in full. They offered to let me finance the difference, which was frankly a slap in the face. I said I could wrangle up the cash, less about $1k, for my trouble which seemed reasonable to me for their screw up. They told me to put the rest on my credit card. To say that I'm upset with two days before I leave would be an understatement.

I asked them what they were willing to put on the table to make things right. They offered a $250 accessory credit. Another slap. They had originally provided what I estimated to be a very low trade in offer, and had said it was partly because the car wouldn’t be taken in for another 2 months. So when all this happened I asked what the revised trade-in would be if they take it today. I think you can guess by now they wouldn’t move the number at all. The only upshot is they have offered me a BMW loaner after I get back from Europe until the M2 is delivered, if I trade the car in today.

So here I sit, with a few hours to make a decision. Trade in my car and take the loaner, or pony up the cash, and try to sell my car after I get back from Europe. Lets assume the trade-in vs private sale difference is $2.5k. What do I do?

I suppose I could call it all off and get a rental in Munich…
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      08-01-2019, 01:15 PM   #14
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Quote:
Originally Posted by frosty2k View Post
So I went to the dealer yesterday to pay for the car, cash in hand, and I was told they made a mistake. I had two options, trade in the car in now, or pay for the car in full. They offered to let me finance the difference, which was frankly a slap in the face. I said I could wrangle up the cash, less about $1k, for my trouble which seemed reasonable to me for their screw up. They told me to put the rest on my credit card. To say that I'm upset with two days before I leave would be an understatement.

I asked them what they were willing to put on the table to make things right. They offered a $250 accessory credit. Another slap. They had originally provided what I estimated to be a very low trade in offer, and had said it was partly because the car wouldn’t be taken in for another 2 months. So when all this happened I asked what the revised trade-in would be if they take it today. I think you can guess by now they wouldn’t move the number at all. The only upshot is they have offered me a BMW loaner after I get back from Europe until the M2 is delivered, if I trade the car in today.

So here I sit, with a few hours to make a decision. Trade in my car and take the loaner, or pony up the cash, and try to sell my car after I get back from Europe. Lets assume the trade-in vs private sale difference is $2.5k. What do I do?

I suppose I could call it all off and get a rental in Munich…
What's your tax situation, do you get trade in tax credit? Personally if the private resale vs. trade in is only 2.5K I'd say you negotiated a very good trade in number and I would just let them take your trade. If the trade in is worth 40k and you save say 6% on taxes that's $2,400 and you don't have to mess with selling the car.

I don't know how you would expect them not to take your trade now if they are applying the equity from that plus the remainder of the cash to pay for the new car. I actually traded my 2017 M2 about 3 months before I went on ED to get my 2019 M2. It's very generous they are giving you a loaner for 6-8 weeks while you are waiting for your car to be re-delivered, they are not obligated to do that at all.
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      08-01-2019, 01:26 PM   #15
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Quote:
Originally Posted by CosmosMpower View Post
What's your tax situation, do you get trade in tax credit?
2.5k is after any tax considerations. The trade-in spread before tax is closer to 5k and I'm estimating a low ball private sell price.

Quote:
Originally Posted by CosmosMpower View Post
I don't know how you would expect them not to take your trade now if they are applying the equity from that plus the remainder of the cash to pay for the new car.
I would expect them to hold to the agreement they had made a month earlier, or told me it wasn't possible before I show up at the dealership to pay for it.
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      08-01-2019, 01:28 PM   #16
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Quote:
Originally Posted by frosty2k View Post
2.5k is after any tax considerations. The trade-in spread before tax is closer to 5k and I'm estimating a low ball private sell price.



I would expect them to hold to the agreement they had made a month earlier, or told me it wasn't possible before I show up at the dealership to pay for it.
In that case it's your call, it's a pain in the butt to sell a car. Only you can decide if the extra trouble is worth the 2.5K.

Dealers make mistakes all the time, at least they were willing to work with you. I guarantee you won't find a dealer that would do the arrangement you asked for (keep your car and get the trade in equity for 8+ weeks), that was too good to be true to begin with. I've heard of dealers letting you hold the car until the paperwork was ready to be signed and the deal closed but never after.

I turned in my 17 M2 in months before I got my new car to get the max value out of it while I was waiting for my 19 M2C to be built.
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      08-01-2019, 10:00 PM   #17
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Quote:
Originally Posted by frosty2k View Post
Quote:
Originally Posted by CosmosMpower View Post
What's your tax situation, do you get trade in tax credit?
2.5k is after any tax considerations. The trade-in spread before tax is closer to 5k and I'm estimating a low ball private sell price.

Quote:
Originally Posted by CosmosMpower View Post
I don't know how you would expect them not to take your trade now if they are applying the equity from that plus the remainder of the cash to pay for the new car.
I would expect them to hold to the agreement they had made a month earlier, or told me it wasn't possible before I show up at the dealership to pay for it.
I would sell the car now and take advantage of the loaner offer once you are back from ED. As you probably know, it takes 6-8 weeks before your car gets back States side. Not having to worry about selling the car is a big plus.
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      08-02-2019, 04:33 PM   #18
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Quote:
Originally Posted by frosty2k View Post
So I went to the dealer yesterday to pay for the car, cash in hand, and I was told they made a mistake. I had two options, trade in the car in now, or pay for the car in full. They offered to let me finance the difference, which was frankly a slap in the face. I said I could wrangle up the cash, less about $1k, for my trouble which seemed reasonable to me for their screw up. They told me to put the rest on my credit card. To say that I'm upset with two days before I leave would be an understatement.

I asked them what they were willing to put on the table to make things right. They offered a $250 accessory credit. Another slap. They had originally provided what I estimated to be a very low trade in offer, and had said it was partly because the car wouldn't be taken in for another 2 months. So when all this happened I asked what the revised trade-in would be if they take it today. I think you can guess by now they wouldn't move the number at all. The only upshot is they have offered me a BMW loaner after I get back from Europe until the M2 is delivered, if I trade the car in today.

So here I sit, with a few hours to make a decision. Trade in my car and take the loaner, or pony up the cash, and try to sell my car after I get back from Europe. Lets assume the trade-in vs private sale difference is $2.5k. What do I do?

I suppose I could call it all off and get a rental in Munich…
private sale. Fuck those assholes. What dealership?
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      08-02-2019, 09:19 PM   #19
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All in all, I'd say the dealer has done an appalling job of communicating how this process works - there should have been no surprises. Hope it works out for you.
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      08-05-2019, 05:37 PM   #20
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Paying for your BMW on ED

Quote:
Originally Posted by bobert View Post
All in all, I'd say the dealer has done an appalling job of communicating how this process works - there should have been no surprises. Hope it works out for you.
I called today to setup the transport from the hotel to the Welt. They kept putting me on hold to 'check something with their colleague'. Didn't fill me with hope. Turns out their system was being upgraded. Just my luck.

I should have done this sooner but I checked all my correspondence and didn't see anything about who to call, other than 'BMW Canada will be in touch'.

Anyway, tomorrow is the day. 9:30 the car shows up then the rollercoaster tips off the edge.

I'm going to do a proper post about this, but it's been over a two year process for me. I put down a deposit when the OG M2 was the car, and was told the wait could be two years. Granted it wasn't, but I made other plans and pushed off my build order for a bit, discovered ED and dove full force into that. My timeframe became what my job could fit, and what worked for the roads I wanted to take.

I'm not rich, so to me the BMW M cars have been my ideal for attainable halo cars. They're all special. Whatever you think of a particular model.
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      08-06-2019, 12:59 PM   #21
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Quote:
Originally Posted by frosty2k View Post
I called today to setup the transport from the hotel to the Welt. They kept putting me on hold to 'check something with their colleague'. Didn't fill me with hope. Turns out their system was being upgraded. Just my luck.

I should have done this sooner but I checked all my correspondence and didn't see anything about who to call, other than 'BMW Canada will be in touch'.

Anyway, tomorrow is the day. 9:30 the car shows up then the rollercoaster tips off the edge.

I'm going to do a proper post about this, but it's been over a two year process for me. I put down a deposit when the OG M2 was the car, and was told the wait could be two years. Granted it wasn't, but I made other plans and pushed off my build order for a bit, discovered ED and dove full force into that. My timeframe became what my job could fit, and what worked for the roads I wanted to take.

I'm not rich, so to me the BMW M cars have been my ideal for attainable halo cars. They're all special. Whatever you think of a particular model.
I had issues with my airport pickup also they had just changed providers and the new one 'forgot' to pick me up so I had to pay for a taxi and go through the process of getting reimbursed. Hopefully your trip all goes smoothly, enjoy the car.
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