I keep seeing some clean F10s rolling around the city, and I keep wondering if any of them are members here on Bimmerfest. If you live any where in or near the Dallas-Fort Worth metroplex, introduce yourself with whatever info you are comfortable with.
My name is Pradeep, and I live in the Valley Ranch/Las Colinas area (North Irving). I drive a Titanium Silver 2011 535i sport.
Glad the sun is coming out. Looking forward to seeing everyone this evening! Who ever gets there first (probably Binh - CyclePimps), can you post here where you are sitting.
It was good seeing everyone last night! Miami, it was good to see your tagless F10 . I am beginning to wonder if it was an ED or a CD (Cuba delivery). Lol - just messing with ya bro. Congrats on finally getting her. She is really sharp!!
Tim, it was great meeting you (and your wife) last night. That matte blue is very sexy. Funny - Tim was saying how at the last B-meet he went to, his car got more attention that an F10-M that was there. Skillz!
CyclePimps was mentioning how we should try and organize a caravan to Houston for some coding from ShawnSheridan. I know EIAlfonso has also started coding; however, I have not followed up to see how many tricks he can pull out of his hat (errr...I mean USB).
Feb 2nd will be the next Cars and Coffee. I know Feb can be tricky with the cold weather. I am off and am willing to go if anyone else is interested. We can wait until we get the weather forecast before we discuss it further.
RambleJ, I think one of the bartenders might have been related to you! He looked like a white gorrilla in suspenders, with a tatoo right under his throat. He may kill people on the part-time, but in the meanwhile he kept the cold brews coming to the F10 crew (and Miami's vodka pinkies - they were Vodka cranberries, even though they looked like Shirley Temples).
Perhaps my most enlightening moment last night was when the bar tender recommended this bad boy:
It was good seeing everyone last night! Miami, it was good to see your tagless F10 . I am beginning to wonder if it was an ED or a CD (Cuba delivery). Lol - just messing with ya bro. Congrats on finally getting her. She is really sharp!!
Tim, it was great meeting you (and your wife) last night. That matte blue is very sexy. Funny - Tim was saying how at the last B-meet he went to, his car got more attention that an F10-M that was there. Skillz!
CyclePimps was mentioning how we should try and organize a caravan to Houston for some coding from ShawnSheridan. I know EIAlfonso has also started coding; however, I have not followed up to see how many tricks he can pull out of his hat (errr...I mean USB).
Wow, wow - now you are giving Cycle credit for my big salad??? Seinfeld reference for those of you who don't know it. Let me know as I have pinged him about doing this in the past. With my new schedule - it will be tough to do for me.
Feb 2nd will be the next Cars and Coffee. I know Feb can be tricky with the cold weather. I am off and am willing to go if anyone else is interested. We can wait until we get the weather forecast before we discuss it further.
RambleJ, I think one of the bartenders might have been related to you! He looked like a white gorrilla in suspenders, with a tatoo right under his throat. He may kill people on the part-time, but in the meanwhile he kept the cold brews coming to the F10 crew (and Miami's vodka pinkies - they were Vodka cranberries, even though they looked like Shirley Temples).
Perhaps my most enlightening moment last night was when the bar tender recommended this bad boy:
George: oh, . . .because she handed you the bag. I could have handed you the bag. She happened to pick it up at the restaurant even though, . . .
Elaine: Even though what?
George: . . . naw, it's just you thanked HER, and and oh, . . . what's the difference?
Elaine: What? What are you trying to say, George?
George: It's just that I was the one who actually paid for the big salad. She just happened to hand it to you. But it's no big deal.
Elaine: You want the money for the big salad, George?
George: No, no,
Elaine: What is the problem?
George: There is no problem. . . just a small miscommunication. Whereby you thanked her instead of the person actually responsible for purchasing the big salad.
This is so classic! Just replace Elaine with Deep, George with Miami and HER with Cycle. :lmao:
Not sure what the general consensus will agree on, but arriving around 730 is ideal. This will improve our chances for getting a parking spot in the show. The official C&C is 8-10am; however, cars start leaving around 9 or 930. Other people I know usually arrive by 630 to park.
I'm in.
How about us FW/Las Colinas guys meet at 7am at the Starbucks off 114 & MacArthur? Then head out at about 7:15 so we'll get to C&C at about 7:40 or so?
Anyone have a recommendation for a good local German/BMW shop. I am needing a 4 wheel alignment. I don't feel like driving out to Classic and paying $200 for an alignment.
Hey Deep! Sorry for the late reply. I've got a recommendation for a BMW shop, Bavarian Motor Sports (BMS) in north Haltom City. We had the E39 serviced there when we had it a few years ago. John's a good guy, been there for years. Unfortunately, he doesn't have an alignment rack so he sends customers to the shop next door, Jeffrey's Automotive. I think he said they charge around $80 for an alignment. Even though he doesn't perform the alignment, you could probably ask him to check it out. Jeffrey is his landlord, he works out of the same building so they know each other well. Check them out.
DFW friends - I have been extremely busy as of late and am sorry that I haven't had the chance to meet anyone yet. My temp tags are about to expire on Monday and I realized I haven't even had the chance to pick up my real tags from Classic. Hopefully there will be a chance in the coming weeks.
Until then, does anyone have any local exhaust shop recommendations? Before I drop money on the M performance exhaust or one of the other options, I would like to consult with a shop that does custom work - I suspect I could spend less money and get something competitive with the Megan offerings (they are reasonably priced but the reality is an axle-back system is just two mufflers).
Until then, does anyone have any local exhaust shop recommendations? Before I drop money on the M performance exhaust or one of the other options, I would like to consult with a shop that does custom work - I suspect I could spend less money and get something competitive with the Megan offerings (they are reasonably priced but the reality is an axle-back system is just two mufflers).
I'm getting some exhaust work done today at Kinney's Muffler Shop in Watauga/N. Fort Worth (that might not be local to you though). That's right, the M5 exhaust is going in. :thumbup:
I've never used them before but they were highly recommended from folks on different forums during my search. I'll let you know how it turns out.
Great information CycleP! I am excited to hear about (pun intended) the sound and fitment of the M5 exhaust. Watuga ain't local to anyone here - Lol. Also, thanks for the rec on the Bimmer shop. I actually used the Christian brothers in Valley Ranch. They did a great job. The funny part is that you and I thought the rear was way out with the obvious angle when you look at my car from the back. The fronts were much more out of spec. Glad I got it done as I would have burned through my tires quickly. Tip for anyone getting an alignment outside the dealership. Keep a full tank of gas in the car as to help emulate when the car has a load in the rear. The dealership supposedly uses weights positioned on the interior and trunk when doing an alignment.
You guys are from Dallas,TX,so let me ask you a question. Did any one of you purchase the car using "Owner's Choice". I am in Houston and I purchased my vehicle using "Owner's choice" because of goofy lease laws in TX. Have you ever, bought a NEW car after selling the car to BMW at end of "Owner's choice". My so called "Owner's Choice" is ending on 12/22/2013 .
Owners Choice financing combines the lower monthly payments of leasing and the security of ownership. You make low monthly payments for your selected term then reach a three-way option point:
1. You can get a new BMW and sell your BMW back to us at a predetermined price. - Has anybody done this and what was your experience.
2. You can refinance the balloon payment amount.
3. You can complete your purchase by making the balloon payment.
Owners Choice is a good alternative if you reside in a state where leasing is less advantageous due to state tax laws.
I did purchase with Owner's Choice but am just months in so can't say much about the end of the term except that you're not alone. I did ask a lot of questions about it and read over the contract quite carefully - is there anything in particular that you are looking to learn?
With Owner's Choice the predetermined price is equivalent to the value of the balloon so you should basically just be able to turn the car in. If the trade value is greater or equivalent to the balloon payment you should actually trade the car in so that you get the tax savings on the new vehicle. I am uncertain about whether the tax shield will still exist if you just "turn in" the vehicle to BMW (it should if you are purchasing another BMW).
nirvana19 - You wrote "With Owner's Choice the predetermined price is equivalent to the value of the balloon so you should basically just be able to turn the car in."
I spoke with BMWFS "lease return" department and they told me the dealer will determine the price when you want to sell the car and buy a new BMW and that is what the predetermined price is . BMWFS will not come into picture when you want to sell and buy a new BMW - though the wording is misleading and implies that. Balloon price and residual value are same thing. Balloon is what you MUST pay (by check) BMWFS to remove the lien and become 100% owner.The other option is to refinance the balloon amount or pay-off $ either thru bank or BMWFS.
Looks like the BEST way is to refinance the pay-off $ thru one of the FCU with 1.49 or 1.70 % instead thru BMW FS where the rate is 5.5 %. I paid close to $6000 in taxes so unless the dealer offers me substantial amount I will be at loss.
Hmm, here is a quote from by contract (Section 12 - Balloon Payment Options). Option 3 is the "Return (Sale) Option" and here is the text:
"I can satisfy the balloon payment by returning (selling) the Vehicle to you under the following agreement. To use this option, I must satisfy the following requirements by the due date of the balloon payment: (a) Let you know that I am returning the Vehicle to you; (b) Pay you any amounts owed under the Contract on the due date of the balloon payment except the balloon payment; (c) Deliver the Vehicle to you at a reasonable place you tell me; (d) Deliver all documents, properly signed, needed to transfer clean title to the Vehicle to you or to a person you tell me to transfer it to; (e) Pay you the Excess Mileage Charge, if any; and (f) Pay you the Excess Wear and Use Charge, if any. By Returning the Vehicle under the Return Option, I appoint you my attorney-in-fact under provisions in Section 17. You will release me from my obligation to pay the balloon payment when I meet these requirements.
By this definition, the predetermined price is the balloon. The downside is that I do not think that you get the usual trade-in tax shield when you use this option. I presume that your Owner's Choice contract is the same - I hope I am not misunderstanding your situation, just trying to be helpful!
nirvana19 - Thanks for showing me the excerpts from the contract (after I spoke to call desk I was planning to go over the contract myself this weekend) and indeed you have helped me immensely by doing so - I thank you for that. However, I beg to differ with you on "By this definition, the predetermined price is the balloon" - how can BMW buy a vehicle at a pre-deremined contract price when they do not know the condition of the vehicle. I (still) think, balloon = residual $ is the amount you pay to BMWFS if you want to be 100 % owner. I think whatever BMWFS told me makes MORE SENSE - again , I am not an expert. Let me dig more into it. Thank you for bringing in "trade-in tax shield" to my notice.
You are correct in that the balloon is what you need to pay to become the full owner. Typically this is a not a good deal since BMW always seems to inflate residuals to keep payments down on leases (and as a direct result Owner's Choice as well). If you love the car and can pay cash or finance at very appealing rates, it is a viable option and you don't get double taxed (the big advantage of the program vs. a traditional lease buyout in Texas).
When I wrote of the "predetermined price" I was just relating back to the language (misleading, as you pointed out) that BMW used on their website to explain the program. You are correct that BMW is not technically "buying" the car at this price - they are really just letting you turn it in the collateral on the loan (the vehicle) without any penalty - pretty much a lease turn in (in fact Section 17 is identical to the stipulations in the lease contract). If you want to sell the car back to the dealership as a trade (to get the tax advantage), then the dealership will have to evaluate the car and make an offer just as if you owned the car outright or had a typical note on the vehicle. In this case the dealership would pay the balloon to BMWFS in exchange for the vehicle that they would resell. Your BMW is worth more to a BMW dealership than to anyone else so they may see positive equity in your car where others may not (even if they see negative equity, they'll make money on selling you the new car so either way they will play ball).
Personally, I plan to turn my vehicle in at the end of term since I got a residual that is extremely favorable for having low payments but will undoubtedly be above the market value of the car at the end of term (esp. given my manual transmission - enthusiasts love them later on but they are hard to sell in the broader market during their first few years of life). I of course won't have to make that decision for quite some time - if you are looking into purchasing another BMW I would talk to your CA, the dealerships can do some interesting things with BMWFS and have a reasonable incentive to get you out of your current vehicle on terms favorable to both parties.
nirvana19 - I took my vehicle to a local BMW dealer,today, and they appraised at $39000 (I do not know if it is a good deal). I am looking to trade-in this 535i for 550 xi. I will negotiate both on the 550xi price (Invoice + $750 - $1000 from Edmunds.com) and the trade-in value and if the trade is favorable then I will do it. I am open to take European delivery around Apr- May next year. My owner's choice lease is ending on 12/22/2013 and I should be able to get 2014 550xi. Let us see how it goes.
Very exciting - I'm sure that N63TU and AWD traction will be a blast. Someone will cut you a good deal. I hope the F10 is still in production at the end of my term so that I can order one a bit more heavily optioned - I love this car and am sure that it will be even better after the LCI updates. European Delivery is also on my to-do list.
OK guys, I just found out RambleJ (Chris) will be moving back to Cali this Thursday. Let's do a happy hour this upcoming Tuesday, March 5th. Chris, feel free to call out your favorite drinking hole or restaurant.
Also, this Saturday is Cars and Coffee. I know it will be a very chilly morning. I can possibly go if anyone is interested.
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