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ED, Boston area, Timeline
I want to go the ED route and am trading in my car, say I go to my dealer today and agree on a price of the car that I am purchasing to be $35,000. Also say the trade-in value of my current car is $10,000. Here are my questions:
1. Will the dealer be able to work around my schedule and give me an exact date that I will be picking up my car at Munich? Lets call that Pickup-Date. I understand that the dealer might take the next 4 or 5 days to provide me the exact Pickup-Date and that's fine
2. For a Boston, MA resident like myself, the Pickup-Date is going to be around 8 weeks from today, is that correct? If so, say it is March-1-2006
3. Assuming I pick-up my car and drop it off the same day i.e.. March-1-2006 in Munich, the car will arrive at my home around April-15-2006, is that correct?
4. Having said the above, I owe the dealer two things: my current car and a check for $25,000(either obtained through financing from credit union/bank or my own cash). Here are the combinations that exist:
(4.1) Provide both these to the dealer 2 weeks prior to Pickup-Date
(4.2) Submit just the check 2 weeks prior to Pickup-Date and hold on to the car till April-15-2006
(4.3) Submit just the check 2 weeks prior to Pickup-Date and surrender the car sometime between Feb-15-2006 and April-15-2006
All these i.e.. (4.1) through (4.3) really depends on your dealer is what the guy tells me
Please let me know if my above timeline estimation is correct. This will help me determine if ED works for me or not
| | Reply » ED, Boston area, Timeline |
This is what I did for my ED in Boston. (Actually Tulley in NH- who were really good in the whole process).
I went car shopping in August. I decided I wanted the 325I and also wanted to do ED delivery. The dealer told me 2-3 months, but the only vacation I had was during Thanksgiving week- so I booked my pickup date on Nov 23.
The ED facility, if you book well in advance, like I did- should not have any problems in delivering the car to you on your exact date.
I placed a $1K deposit in August and then waited till October, which was when I had to sign all the financial paperwork, etc... basically a month before pick-up- you need to get all your finances in order for the car.
Since I leased the car, I had to begin my monthly payments in October- however, BMW pays for the second month of the lease (in my case, November).
I picked up the car on November 23, drove around for a couple of days and dropped off in Zurich on November 25.
The car was then shipped on December 8th- and arrived on Port on December 22.
I'm expecting to pick up my car from the dealer next week!!! 
hope that helps in setting your timelines
| | Reply » ED, Boston area, Timeline |
Quote: The car was then shipped on December 8th- and arrived on Port on December 22.
I'm expecting to pick up my car from the dealer next week!!!
| If your car arrive in port on Dec. 22, as mine did, then I'm assuming yours was on the Elektra.
How do you know that you'll be picking up your car next week? Is there someone that told you that? My dealer (BMW of West Springfield) doesn't know how long it will take, and I don't know of any tracking sites that cover this portion of its journey.
Thanks,
Brian
| | Reply » ED, Boston area, Timeline |
That all sounds about correct. The only "issue" is #4.
When I did mine, my dealer (FM West) only allowed these options:
1) Trade in + BMWFS financing for difference both 2 weeks in advance.
2) Trade in + certified check from personal funds both 2 weeks in advance. Pretty much no bank or credit union will finance a ED car.
I didn't like those options as I needed the car for the 8-10 weeks it was going to take to get here. Thus, the dealer also offerred:
3) BMWFS financing for the ENTIRE purchase price (minus down payment) no tradein. Then, when car is delivered to the US, they would give me a check for the value of the trade in. I could then do what I wanted with the check (apply to the loan, pay off something else, etc...)
Basically, the ENTIRE purchase price needs to be covered 2 weeks in advance one way or another.
What I actually ended up doing was #3, but before my car was delivered stateside, I managed to sell the car privately for more than the dealer was going to buy it for. The buyer agreed to buy it/take delivery from me when my car came in. It worked out great. If I hadn't managed to sell it, no big deal, the dealer would have bought it. Very low stress.
After the car came to the US, I refinanced it with my bank to lower the rate (BMWFS sucks). It's kind of a hasle, but ED is definitely worth it.
Enjoy!
Dan
| | Reply » ED, Boston area, Timeline |
Quote: I want to go the ED route and am trading in my car, say I go to my dealer today and agree on a price of the car that I am purchasing to be $35,000. Also say the trade-in value of my current car is $10,000. Here are my questions:
1. Will the dealer be able to work around my schedule and give me an exact date that I will be picking up my car at Munich? Lets call that Pickup-Date. I understand that the dealer might take the next 4 or 5 days to provide me the exact Pickup-Date and that's fine
2. For a Boston, MA resident like myself, the Pickup-Date is going to be around 8 weeks from today, is that correct? If so, say it is March-1-2006
3. Assuming I pick-up my car and drop it off the same day i.e.. March-1-2006 in Munich, the car will arrive at my home around April-15-2006, is that correct?
4. Having said the above, I owe the dealer two things: my current car and a check for $25,000(either obtained through financing from credit union/bank or my own cash). Here are the combinations that exist:
(4.1) Provide both these to the dealer 2 weeks prior to Pickup-Date
(4.2) Submit just the check 2 weeks prior to Pickup-Date and hold on to the car till April-15-2006
(4.3) Submit just the check 2 weeks prior to Pickup-Date and surrender the car sometime between Feb-15-2006 and April-15-2006
All these i.e.. (4.1) through (4.3) really depends on your dealer is what the guy tells me
Please let me know if my above timeline estimation is correct. This will help me determine if ED works for me or not | Not sure what the fact that you are a Boston resident has to do with 8 weeks so please clarify.
Otherwise, to answer your question, the car needs to be fully funded 30 days prior to delivery in Freimann. If you are paying for the car in part with a trade-in, that would mean that the trade-in is turned over 30 days prior to delivery.
The above is based on your indication that you are either paying cash or using your own bank. Of course, whether your bank will finance the car is another story but I digress.
| | Reply » ED, Boston area, Timeline |
Quote: That all sounds about correct. The only "issue" is #4.
When I did mine, my dealer (FM West) only allowed these options:
1) Trade in + BMWFS financing for difference both 2 weeks in advance.
2) Trade in + certified check from personal funds both 2 weeks in advance. Pretty much no bank or credit union will finance a ED car.
I didn't like those options as I needed the car for the 8-10 weeks it was going to take to get here. Thus, the dealer also offerred:
3) BMWFS financing for the ENTIRE purchase price (minus down payment) no tradein. Then, when car is delivered to the US, they would give me a check for the value of the trade in. I could then do what I wanted with the check (apply to the loan, pay off something else, etc...)
Basically, the ENTIRE purchase price needs to be covered 2 weeks in advance one way or another.
What I actually ended up doing was #3, but before my car was delivered stateside, I managed to sell the car privately for more than the dealer was going to buy it for. The buyer agreed to buy it/take delivery from me when my car came in. It worked out great. If I hadn't managed to sell it, no big deal, the dealer would have bought it. Very low stress.
After the car came to the US, I refinanced it with my bank to lower the rate (BMWFS sucks). It's kind of a hasle, but ED is definitely worth it.
Enjoy!
Dan | I think it's only two weeks using BMW FS. The OP indicated he is using his bank or paying cash so that would be 30 days as far as I know.
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ED, Boston area, Timeline