[marcw]

I signed paperwork last week for my new 2016 wagon and made the first payment. I'll be leaving for Munich next week to pick her up. I received a bill from BMW Financial today for my next payment with a due date of 11/13/15. I thought BMW picks up the second payment and jacks up the money factor for that reason. Is this no longer true? I assumed my next payment wouldn't be due til December.

[phantom701]

Originally Posted by marcw

I signed paperwork last week for my new 2016 wagon and made the first payment. I'll be leaving for Munich next week to pick her up. I received a bill from BMW Financial today for my next payment with a due date of 11/13/15. I thought BMW picks up the second payment and jacks up the money factor for that reason. Is this no longer true? I assumed my next payment wouldn't be due til December.

BMW does pick up the 2nd payment for ED. You might check to see if they show a "credit" from BMW FS. They'd still send you a bill but it should be taken cared of.

[marcw]

I contacted BMW Financial and was informed that they have made an error and didn't as they put it "add the ED discount" to my account. Not exactly a discount when you charge more MF and make the second payment up and then some. But at least I know what happened now

Originally Posted by phantom701

BMW does pick up the 2nd payment for ED. You might check to see if they show a "credit" from BMW FS. They'd still send you a bill but it should be taken cared of.

[phantom701]

Originally Posted by marcw

I contacted BMW Financial and was informed that they have made an error and didn't as they put it "add the ED discount" to my account. Not exactly a discount when you charge more MF and make the second payment up and then some. But at least I know what happened now

Good to hear that you caught the mistake and they quick to fix it!

[Ninong]

Originally Posted by marcw

I signed paperwork last week for my new 2016 wagon and made the first payment. I'll be leaving for Munich next week to pick her up. I received a bill from BMW Financial today for my next payment with a due date of 11/13/15. I thought BMW picks up the second payment and jacks up the money factor for that reason. Is this no longer true? I assumed my next payment wouldn't be due til December.

Your second payment is due exactly 30 days after the date of your lease agreement. Therefore, if your second payment is due Nov. 13, 2015, that means your lease agreement was dated Oct. 14, 2015. Your third payment and all subsequent payments will be due on the 13th of the month.

BMWFS should not have sent you a bill for the second payment because they have to pay that one. The 3rd payment (due Dec. 13, 2015) will be your responsibility.