[Craigito]

I'm going to be making monthly payments on a car I can't even drive while it's being delivered...or will the banks (or bmwfs) delay the start of payments a few months until you get the car. Sorry for my ignorance.

[Backattack]

YUP! That's huge!

[radgator1]

If you lease it then they cover one payment so you only have like one payment while you dont have the car, but you still get the same total mileage anyway so theoretically will get the same total use out of the car over the term of the lease. If you purchase it you will have to make the payments while you are waiting for redelivery unless you pay cash. Obviously waiting for re-delivery is one of the downsides of ED, even more so if you are on the west coast where re-delivery is a good 2-3 weeks longer than on the east coast.

[liquid]

Here is my time line.

I put a deposite down in October flew to Germany on October 31st. I dropped the car off on November 3rd. My first car payment was due on November 28th, the car was ready to be pikced up at my delaer on Decmeber 13th. I would od it all over agian in a heart beat.

james

[JSpira]

Originally Posted by liquid

Here is my time line.

I put a deposite down in October flew to Germany on October 31st. I dropped the car off on November 3rd. My first car payment was due on November 28th, the car was ready to be pikced up at my delaer on Decmeber 13th. I would od it all over agian in a heart beat.

james

Did you lease or finance? If you leased, your first payment was 14 days or more before you picked up the car in Freimann. If you financed, the start of payments is delayed by a period of time, possibly 60 days but I am not 100% sure on the timing.

[JSpira]

Originally Posted by Craigito

I'm going to be making monthly payments on a car I can't even drive while it's being delivered...or will the banks (or bmwfs) delay the start of payments a few months until you get the car. Sorry for my ignorance.

You get the car the day you get the car. That is the date of delivery. Depending on whether you lease or finance, the timing of when payments would start varies - see post immediately above. You are in either case not paying very much if anything before delivery but again, as I mentioned above in a lease you are starting your lease 14 days before delivery and making your first payment then. You only wait ca. 14 days.

[CALIF65GM]

Originally Posted by JSpira

If you financed, the start of payments is delayed by a period of time, possibly 60 days but I am not 100% sure on the timing.

Correct if the OP financed with BMWFS then the 1st payment is now due until 60-days after signing the paperwork. I just realized that this is also and advantage of financing with BMWFS. Going through other banks or credit unions probably means an extra payment too.

To the OP: Yes making the payment while not having the car is one of the disadvantages of doing ED especially for those of us on the West Coast.

FYI: I made 2-payments total while my car was in transit to CA. However, if I wanted to push it, I could have gotten away with one because the car arrived like 3-days before the 2nd payment was due.