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-   -   BMW Lease Program month to month locking (http://www.bimmerfest.com/forums/showthread.php?t=647016)

335Fanatic 09-20-2012 09:53 AM

BMW Lease Program month to month locking
 
Quick question. Let's say I lock September's BMW Lease Program by submitting (and getting approved) an online financing application. Do I have to do the same thing in October?
So when November comes, let's say I want to use October's program...

Thanks in advance.

Justin@NCBMW 09-20-2012 10:07 AM

Quote:

Originally Posted by 335Fanatic (Post 7085886)
Quick question. Let's say I lock September's BMW Lease Program by submitting (and getting approved) an online financing application. Do I have to do the same thing in October?
So when November comes, let's say I want to use October's program...

Thanks in advance.

No, once approved you are locked in for 60 days. You may use the Sept or Oct program as long as it's within the lock period.

335Fanatic 09-20-2012 10:32 AM

Quote:

Originally Posted by Justin@NCBMW (Post 7085931)
No, once approved you are locked in for 60 days. You may use the Sept or Oct program as long as it's within the lock period.

Makes perfect sense, thank you!!

dzaborn 09-20-2012 12:06 PM

Quote:

Originally Posted by Justin@NCBMW (Post 7085931)
No, once approved you are locked in for 60 days. You may use the Sept or Oct program as long as it's within the lock period.

Do you only have to place your order within the 60 days, or take delivery of the car within 60 days?

I am going to be ordering at the very end of October (which would be within 60 days) for a November build and would like to go ahead and get my rate locked in with the September rates assuming it will still be good for an estimated December delivery date.

Justin@NCBMW 09-20-2012 12:15 PM

Quote:

Originally Posted by dzaborn (Post 7086226)
Do you only have to place your order within the 60 days, or take delivery of the car within 60 days?

I am going to be ordering at the very end of October (which would be within 60 days) for a November build and would like to go ahead and get my rate locked in with the September rates assuming it will still be good for an estimated December delivery date.

Take delivery within 60 days of lock

Tiefseeblau F10 09-20-2012 02:36 PM

How about ED? Would I have to take delivery in Munich within the 60 days (90 days in the west coast), or when my car arrives in the states?

Sent from my LG-VM701 using Bimmer App

dzaborn 09-20-2012 02:49 PM

Quote:

Originally Posted by Justin@NCBMW (Post 7086242)
Take delivery within 60 days of lock

Thanks JustinW.

Does that mean that you have to place an order without being locked in at a rate, since order time to delivery within 8 weeks is cutting it close? I just assumed at order time that you were pre-approved at a rate and the terms of the lease/buy finalized.

So if your car takes 9 weeks to be delivered you have to go through the pre-approval process again and are subject to whatever the rate/terms are at time of delivery?

Justin@NCBMW 09-20-2012 03:12 PM

Quote:

Originally Posted by 02E46enroute (Post 7086538)
How about ED? Would I have to take delivery in Munich within the 60 days (90 days in the west coast), or when my car arrives in the states?

Sent from my LG-VM701 using Bimmer App

You have to contract within 60/(90 west region)days

Tiefseeblau F10 09-20-2012 04:16 PM

Quote:

Originally Posted by Justin@NCBMW (Post 7086607)
You have to contract within 60/(90 west region)days

So does that mean I can take delivery in Munich anytime after the 60 or 90 day period as long as I contract within that time frame?

SARAFIL 09-20-2012 04:21 PM

Quote:

Originally Posted by 02E46enroute (Post 7086724)
So does that mean I can take delivery in Munich anytime after the 60 or 90 day period as long as I contract within that time frame?

Not exactly. You can't contract until the car has a VIN, and there is no VIN until they build it which is within a certain time period of your pickup. Not sure what the exact time limit is, but there is a limit in how long you can wait driven by how far in advance they build ED cars.

Tiefseeblau F10 09-20-2012 05:47 PM

Quote:

Originally Posted by SARAFIL (Post 7086731)
Not exactly. You can't contract until the car has a VIN, and there is no VIN until they build it which is within a certain time period of your pickup. Not sure what the exact time limit is, but there is a limit in how long you can wait driven by how far in advance they build ED cars.

The reason im curious because I'm considering doing ED on a 2013 528i and I'm waiting to see if and what kind of incentives or holiday cash BMW will offer towrds the end of the year. I'm trying to plan a rough draft of my trip and I would prefer to travel out to Germany around April.

So lets say I put a deposit towards the end of any programs or incentives, wait for a VIN and pay for the car within the 90 day lock period (i'm in the west coast), can I fly out to Munich and take delivery of my car anytime after 90 day lock period as long a I contract and pay for the car within the 90 day period?

miamiboyca 09-20-2012 06:55 PM

Quote:

Originally Posted by 02E46enroute (Post 7086871)
...take delivery of my car anytime after 90 day lock period as long a I contract and pay for the car within the 90 day period?

Yes and no. You have to contract (sign the papers) within the lock in period. You can take delivery after the lock in is over. Keep in mind though, there is probably a limit on how much time after you sign the paperwork you can pick up the car. BMW is not going to build a car and let is sit for 4 months until you pick it. They base your production on when you plan to pick up the car. You actually pick a date and they confirm it. Production will be based on the delivery date. Also keep in mind that you have to make payments after you sign which is why my CA has me signing 10 days before pick up.

Here is an example
Lock in 9/2/2012 - you must sign within 90 days or 12/1/2012 (since you are from California)
Sign 12/1/2012 and schedule delivery for 1/1/2013 Drive it for 2 weeks and drop off on 1/15/2013

First payment is due 1/1/2013 (ED BMW makes first payment) for you.

It takes 6-10 weeks for the car to make it back to your dealer. (lets go with worse case scenario of 10 weeks since you are in California. So car in California dealership on 4/1/2013

This means you make the 2/1 and 3/1 payments while you are waiting on the car. Just something to keep in mind. Hope it helps.

Tiefseeblau F10 09-20-2012 10:31 PM

Quote:

Originally Posted by miamiboyca (Post 7086998)
Yes and no. You have to contract (sign the papers) within the lock in period. You can take delivery after the lock in is over. Keep in mind though, there is probably a limit on how much time after you sign the paperwork you can pick up the car. BMW is not going to build a car and let is sit for 4 months until you pick it. They base your production on when you plan to pick up the car. You actually pick a date and they confirm it. Production will be based on the delivery date. Also keep in mind that you have to make payments after you sign which is why my CA has me signing 10 days before pick up.

Here is an example
Lock in 9/2/2012 - you must sign within 90 days or 12/1/2012 (since you are from California)
Sign 12/1/2012 and schedule delivery for 1/1/2013 Drive it for 2 weeks and drop off on 1/15/2013

First payment is due 1/1/2013 (ED BMW makes first payment) for you.

It takes 6-10 weeks for the car to make it back to your dealer. (lets go with worse case scenario of 10 weeks since you are in California. So car in California dealership on 4/1/2013

This means you make the 2/1 and 3/1 payments while you are waiting on the car. Just something to keep in mind. Hope it helps.

Thanks for the help :). Its exactly how I plan on taking delivery of my car. Sign on the last day of the lock period and fly to Munich three to four weeks later. I also plan on doing PCD as well. I'm just waiting to see what kind of incentives, holiday cash, and finance rates BMW will offer towards the end of the year.

I plan on financing, but I assume the same lock rules apply regardless of anyone leasing or financing.

miamiboyca 09-21-2012 08:33 AM

Quote:

Originally Posted by 02E46enroute (Post 7087315)
Thanks for the help :). Its exactly how I plan on taking delivery of my car. Sign on the last day of the lock period and fly to Munich three to four weeks later. I also plan on doing PCD as well. I'm just waiting to see what kind of incentives, holiday cash, and finance rates BMW will offer towards the end of the year.

I plan on financing, but I assume the same lock rules apply regardless of anyone leasing or financing.

Check with your CA about how much time you can delay pick up.

I am doing the exact same thing, ED, followed by PDC delivery and Greg P at Pacific has made it a breeze. Check him out when its time. :thumbup:


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