ED Timeline, Flexibility etc. explained

Thought there are a bunch of threads talking about the ED process, I have not found a definitive one which covers all the bases, especially with regards to the time flexibility between different steps and the rate lock with BMWFS. I am hoping that this thread can be used to collect all the information in one place and work as a reference for the future. (I will edit this post based on the corrections posted)

Based on what I have learnt, the ED process can be broken down into the following 10 steps. I have added some estimates on the time between different steps.

Step I: Decide the options, negotiate the price, and the terms; get approval from BMWFS if needed
Step II: Dealer orders the car (1-2 days after Step I)
Step III: The car is manufactured (up to 2 months after Step II)
Step IV: You pay for the car, 15 days before scheduled pick up day; your lease starts on this day
Step V: You pick up the car in Munich (about 1 month after Step III)
Step VI: You drop the car in Europe (30 days for BMWFS lease, 90 days for BMWFS finance, 6 months for non-BMWFS deals; free insurance for 14 days)
Step VII: Your car gets put on a ship (up to 2 weeks after Step VI)
Step VIII: Your car reaches USA (upto 4 weeks on the East Coast, 6 weeks on the West Coast)
Step IX: Car is processed at the VPC and shipped to the dealer (up to 2 weeks after Step VIII)
Step X: Pick up the car at the dealer

QUESTIONS:
A.
Flexibility on the pick up date:
1. How much time do you have from the order date (Step II) to pick up the car?

2. Does the pickup deadline-clock start ticking from the build date (Step III) or the order date (Step II)?

3. Within the time window, do you have the flexibility to pick and chose your pickup date?

4. How long before your chosen date, do you have to inform BMW of your intended pick up date?

5. Can you make last minute adjustments (plus minus a few days if there is a change of plans?)

B.
Flexibility in locking the rate with BMWFS
What is the flexibility when it comes to deciding the terms with BMWFS between order (Step I) and payment (Step IV, 15 days before pickup). In general, BMWFS rate locks are good for 60 days.

1. If the rate improves during the 60 days, do you get to relock and get a new 60 day period? In principle, this gives you three different rate sheets to play with.

2. Suppose payment (Step IV) is more than 60 days after order (Step I). Do I need to relock with the new rates, or will BMWFS extend the original lock rate. This is important if the rates worsen, though typically it is the opposite which happens.

Any other tips on how to use the extended period to get the best lease deal, assuming you have a friendly dealer who is willing to adjust the terms?

Reply » ED Timeline, Flexibility etc. explained

Overall Good Review of Process.
However
Step II There is a form submitted to BMWNA ED Dept that you MR or MS. Customer signs
with your passport information and Customer desired PICKUP date in Munich. This date is set by you and will be accepted or not by BMWNA. BMWNA will notify selling dealer and customer of acceptance of this date in writing. This date becomes set in stone so to speak and only be changed in rare cases by notifiing BMWNA ED dept. of your personal situation.This is the date that sets everything in motion IE Production date On this form you can also designate a COURTESY redelivery to a Different dealer other than the selling dealer. Must Have Written authorization from COURTESY dealer to BMWNA ED Dept. Customary charge by COURTESY dealer is $500 Customer will need to set this up on HIs/Her own by contacting COURTESY dealer and negotiating this fee. (Tip contact title clerk in dealership not SELLS Dept.)
The answer Question A1 Depends on model and ED allocation at BMWNA Typically soonest pickup is 5weeks on Ordered cars and Three weeks that come out of ED pool in Munich.(ie cars ordered and not picked up for whatever reason already produced.)

The answer Questions B1 Your BMWFS approval is locked in for only 60 days and can be extended by BMWFS (usually they run additional credit check ) and will send selling dealer new approval, therefore you can only use rates from new approval date up to time of contract. You the customer gets to pick the better terms Ie MR or Residual during this 60 day period. TIP Thats why I get approval date from BMWFS the last day of a particular month so you have three months of Terms to pick from. Ie Oct.31 you will be approved until Dec 30th. So You can pick from OCT., NOV., Dec rate sheets. But you must keep the dealer honest and do your homework as they may (will) try and pull a fast one on you.

Hopes this helps

Reply » ED Timeline, Flexibility etc. explained

Here's a situation that I tried hard to fix but unfortunately seem unable to rectify. Maybe someone can help me now as my dealer representative has thrown up his hands. I signed the paperwork on 9/28/05 for an ED on 10/28/05. I just got my first bill in the mail and it has the lease starting on 9/28/05. I told the dealer about the 14 day rule and he told me to contact BMWFS to request changing the first lease payment to 10/14. They directed me back to the dealer and the dealer in turn said that because my lease was financed already that there's nothing that can be done to change the start date of my lease to 14 days before ED.

Does anybody know if I can push up my lease start date?

Reply » ED Timeline, Flexibility etc. explained

Quote:

A few things.
1.) Your dealer certainly owes you 1/2 a payment which they caused you unnecessarily to incur. I would push this with the dealer. My dealer accidentally dated the lease a few days early and I requested they redo this to be 14 days out (we probably ended up 15 days out but who's counting).
2.) Your lease will end 14 days earlier than planned. Keep in mind that there is a 10 day grace period so it's not the end of the world but you'll need a NEW car earlier because of this.

If your salesperson isn't forthcoming about making good for the unnecessary half month payment, I'd escalate locally.

If that doesn't work, and you're not used to the escalation process in large corporations, send me a PM.

Reply » ED Timeline, Flexibility etc. explained

By the way, I PM'd you on another thread that I live on LI. I'd like to commend you on your vast knowledge on nearly everything you've responded to on all these threads.

Anyway, I got no where with the dealer today. I had to inform him of the 14 day rule. He told me about the 10 day grace period but that really doesn't help me here. Tell me what to do, and I'll take it to the next level. I hope I don't have to deal with NJ on this. I had one of those '02 7 series lemons that nearly drove me to Audi.

Reply » ED Timeline, Flexibility etc. explained

Quote:

please don't commend me, my mother says it'll give me a swelled head

Seriously, you're welcome.

I'll PM you.

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