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Residual Values
For those who have leased via the ED program, was your residual value based upon the US MSRP or the ED MSRP? My dealer claimes the residual (higher lease price) is based on the ED price. It makes no sence to me, so I'd like to hear what others have experienced. And better yet, how anyone help me "prove" to my Dealer that they are wrong.
If anyone is able to pull-off that request, I officially name you the "BMW King".
Thanks guys.
Wil
| | Reply » Residual Values |
It is my understanding that the residual value is based on the "regular" retail price of the car or the full retail price of the car when purchased. The residual value is set by BMW FS, I think you can confirm this by contacting BMW FS. Basing this price on the discounted ED price does not make sense, except for the dealer trying to rip you off.
| | Reply » Residual Values |
If you lease the car on the ED program the residual value is calculated on the FULL US MSRP. Period.
I leased a 545 with a US MSRP of 63,000 and paid $57,000 after the ED and dealer discount. The residual of 64% (set by BMWFS) made my payoff about 40K after 3 years and 12K miles/year. The nice thing about ED leases is the smaller principal payment you make compared with non ED cars. Believe me....you need some kind of $$ incentive to put up with the hassle/waiting/angst of doing ED leases. But I will do it all over again one day with total pleasure.
| | Reply » Residual Values |
Quote: If you lease the car on the ED program the residual value is calculated on the FULL US MSRP. Period.
I leased a 545 with a US MSRP of 63,000 and paid $57,000 after the ED and dealer discount. The residual of 64% (set by BMWFS) made my payoff about 40K after 3 years and 12K miles/year. The nice thing about ED leases is the smaller principal payment you make compared with non ED cars. Believe me....you need some kind of $$ incentive to put up with the hassle/waiting/angst of doing ED leases. But I will do it all over again one day with total pleasure. | What he said. And now, BMWFS makes one of your lease payments for you. When I signed my papers, I had to make 2 up front lease payments. Oh, and you don't have to sign the lease until 14 days prior to pickup; I had to sign 30 days out.
How's it going there, Mark? Have you followed the BT retrofit stuff? I had it done and it's awesome.
-MrB
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Residual Values