ED / BMWFS Financing question

darksilkx1 · 10-05-2012, 04:09 PM

Question for those of you here who did an ED and had a vehicle previously financed with BMWFS, how does the whole trade in thing work?

I have a car currently financed with BMWFS, If I wanted to trade in the car, do I have to trade it in when the papers are signed? My concern is that I wont have a car for two months from PCD to stateside delivery. If I decided not to trade it but just sell it after I take delivery of my new car would BMWFS finance the second vehicle with me in effect paying for two vehicles for a couple of months or would I have to pay off my old car first. Dont have a huge payoff and could handle no problem - approx 9k, but wanted to know what others have experienced. Current vehicle was a buy, F30 will be lease. Thanks guys.

E36toF30 · 10-05-2012, 05:07 PM

Since you're leasing the F30 instead of buying (i.e. no reason to put a ton of money down), why not just sell your old car and pay it off once you get the F30 in the states? With minimal effort you could probably sell it for more than they offer you to trade it in, and that way there'd be no question about not having a car for a month or two.

E36toF30 · 10-05-2012, 05:08 PM

Since you're leasing the F30 instead of buying (i.e. no reason to put a ton of money down), why not just sell your old car and pay it off once you get the F30 in the states? With minimal effort you could probably sell it for more than they offer you to trade it in, and that way there'd be no question about not having a car for a month or two.

justinnum1 · 10-05-2012, 05:23 PM

you can just extend the lease by a few months.

webdither · 10-05-2012, 05:52 PM

You should definitely sell on your own, you will always get screwed on a trade! I sold my E92 in 2 weeks on Craig's List for $4,500 more than I was offered from CarMax (which is usually higher than a dealer will offer). My G37 I had before that I sold for nearly $10,000 more than CarMax offered!

So I would probably list the car for sale after doing the ED. Then if you sell it before the new car shows up in the US just do a rental for a week or so. If you rent at a non-airport location you'd be looking at only around $150/week as long as you don't mind rolling in a Ford Focus or similar LOL

10-05-2012, 04:09 PM	#1
darksilkx1 Lieutenant 159 Rep 492 Posts Drives: Monthly Payment Join Date: Jun 2011 Location: FL iTrader: (0)	ED / BMWFS Financing question Question for those of you here who did an ED and had a vehicle previously financed with BMWFS, how does the whole trade in thing work? I have a car currently financed with BMWFS, If I wanted to trade in the car, do I have to trade it in when the papers are signed? My concern is that I wont have a car for two months from PCD to stateside delivery. If I decided not to trade it but just sell it after I take delivery of my new car would BMWFS finance the second vehicle with me in effect paying for two vehicles for a couple of months or would I have to pay off my old car first. Dont have a huge payoff and could handle no problem - approx 9k, but wanted to know what others have experienced. Current vehicle was a buy, F30 will be lease. Thanks guys. __________________
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10-05-2012, 05:07 PM	#2
E36toF30 First Lieutenant 19 Rep 311 Posts Drives: 2011 E92 M3 DCT Join Date: Feb 2012 Location: CO iTrader: (0)	Since you're leasing the F30 instead of buying (i.e. no reason to put a ton of money down), why not just sell your old car and pay it off once you get the F30 in the states? With minimal effort you could probably sell it for more than they offer you to trade it in, and that way there'd be no question about not having a car for a month or two.
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10-05-2012, 05:08 PM	#3
E36toF30 First Lieutenant 19 Rep 311 Posts Drives: 2011 E92 M3 DCT Join Date: Feb 2012 Location: CO iTrader: (0)	Since you're leasing the F30 instead of buying (i.e. no reason to put a ton of money down), why not just sell your old car and pay it off once you get the F30 in the states? With minimal effort you could probably sell it for more than they offer you to trade it in, and that way there'd be no question about not having a car for a month or two.
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10-05-2012, 05:23 PM	#4
justinnum1 Major General 651 Rep 5,803 Posts Drives: 2018 330i Msport 6mt Join Date: Nov 2006 Location: South Florida iTrader: (0)	you can just extend the lease by a few months. __________________ F30 330i Alpine white/Coral red Msport 6MT
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10-05-2012, 05:52 PM	#5
webdither Lieutenant 59 Rep 595 Posts Drives: 2014 BMW M235i Join Date: Aug 2012 Location: Dallas/Ft. Worth, Texas iTrader: (0) Garage List 2014 BMW M235 (July ... [10.00]	You should definitely sell on your own, you will always get screwed on a trade! I sold my E92 in 2 weeks on Craig's List for $4,500 more than I was offered from CarMax (which is usually higher than a dealer will offer). My G37 I had before that I sold for nearly $10,000 more than CarMax offered! So I would probably list the car for sale after doing the ED. Then if you sell it before the new car shows up in the US just do a rental for a week or so. If you rent at a non-airport location you'd be looking at only around $150/week as long as you don't mind rolling in a Ford Focus or similar LOL __________________ 2014 M235i \| Manual \| Estoril Blue / Terra \| Tech, Premium, HK Audio, & Driver Assist \| M Performance Exhaust, Stainless Steel Pedals, Black Kidney Grilles Euro Delivery Trip Report
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