Ridiculous Lease Question

beenthere1 · 11-05-2014, 08:04 AM

So, I have never leased a car before and I took delivery about 3 weeks ago

My question is, since the residuals changed slightly this month, will my payment change as well? I presume that the contract I signed locks in the payment over the life of the lease, but I wanted to make sure...

bimmerbuff · 11-05-2014, 08:24 AM

Nope. Locked.

mfourn20 · 11-05-2014, 08:42 AM

If you took delivery you are locked in already.

What does change your payment is if the incentives change at the time of delivery, but once you take delivery it's like a loan, locked in as per terms.

beenthere1 · 11-05-2014, 08:55 AM

Thank you much! I assumed as much, but I wanted to make sure.

chaswyck1 · 11-05-2014, 10:41 AM

One thing that can change after you take delivery is the sales tax. If you move to a place with a different sales tax rate than you had when you got the car BMW Finance will adjust your sales tax on future payments, up or down, to reflect the tax rate where you currently live.

lbahoshy · 11-05-2014, 11:58 AM

The payment is related to the residual value. You negotiate the price of the vehicle, not the payment! If the residual changed, so should your payment assuming the same interest rate, etc.

beenthere1 · 11-05-2014, 01:16 PM

Quote:

Originally Posted by lbahoshy

The payment is related to the residual value. You negotiate the price of the vehicle, not the payment! If the residual changed, so should your payment assuming the same interest rate, etc.

Well, residuals can change from month-to-month. If BMW suddenly decides the M235i should have a 58% residual rather than the 62% in my contract, does my payment go up?

hyperzulu · 11-05-2014, 01:26 PM

Quote:

Originally Posted by beenthere1

Well, residuals can change from month-to-month. If BMW suddenly decides the M235i should have a 58% residual rather than the 62% in my contract, does my payment go up?

No, all contractual terms are locked. The post you quoted is misleading...

rhinothatflies · 11-07-2014, 01:48 PM

I made the mistake of negotiating the monthly payment. My sale price was $41,725 on a $43,825 MSRP. Terms are 12k miles/year and 36 months. With tax my payments are $585 =/. Take delivery in a few weeks, hoping to get holiday credit.

11-05-2014, 08:04 AM	#1
beenthere1 Private 27 Rep 98 Posts Drives: m340i xdrive, x3 m40i Join Date: Oct 2014 Location: Phila iTrader: (0)	Ridiculous Lease Question So, I have never leased a car before and I took delivery about 3 weeks ago My question is, since the residuals changed slightly this month, will my payment change as well? I presume that the contract I signed locks in the payment over the life of the lease, but I wanted to make sure...
	Appreciate 0 Tweet Quote

11-05-2014, 08:24 AM	#2
bimmerbuff Slightly Less Obsessed 26 Rep 317 Posts Drives: Between BMWs Join Date: Apr 2014 Location: New York iTrader: (0)	Nope. Locked.
	Appreciate 0 Quote

11-05-2014, 08:42 AM	#3
mfourn20 First Lieutenant 52 Rep 321 Posts Drives: 228i M Sport Join Date: Jun 2014 Location: Warwick, RI USA iTrader: (0)	If you took delivery you are locked in already. What does change your payment is if the incentives change at the time of delivery, but once you take delivery it's like a loan, locked in as per terms.
	Appreciate 0 Quote

11-05-2014, 08:55 AM	#4
beenthere1 Private 27 Rep 98 Posts Drives: m340i xdrive, x3 m40i Join Date: Oct 2014 Location: Phila iTrader: (0)	Thank you much! I assumed as much, but I wanted to make sure.
	Appreciate 0 Quote

11-05-2014, 10:41 AM	#5
chaswyck1 Lieutenant 76 Rep 506 Posts Drives: 2015 228i Valencia Orange Join Date: Oct 2014 Location: Southern CA iTrader: (0)	One thing that can change after you take delivery is the sales tax. If you move to a place with a different sales tax rate than you had when you got the car BMW Finance will adjust your sales tax on future payments, up or down, to reflect the tax rate where you currently live.
	Appreciate 0 Quote

11-05-2014, 11:58 AM	#6
lbahoshy Enthusiast 80 Rep 281 Posts Drives: 2014 Carrera S, 2023 BMW M2 Join Date: Jan 2012 Location: Oakville, Ontario iTrader: (0)	The payment is related to the residual value. You negotiate the price of the vehicle, not the payment! If the residual changed, so should your payment assuming the same interest rate, etc. __________________ 2023 G87 M2, Brooklyn grey, HEA spec, 6 spd manual 2014 911 Carrera S, Agate grey, black int, 7spd manual 2019 M2C, HKS, 6 spd Manual. (Sold)
	Appreciate 0 Quote

11-07-2014, 01:48 PM	#9
rhinothatflies Private 6 Rep 94 Posts Drives: 228i X-Drive M-Sport w/THP Join Date: Oct 2014 Location: Ann Arbor, MI iTrader: (0)	I made the mistake of negotiating the monthly payment. My sale price was $41,725 on a $43,825 MSRP. Terms are 12k miles/year and 36 months. With tax my payments are $585 =/. Take delivery in a few weeks, hoping to get holiday credit.
	Appreciate 0 Quote

Thread Tools	Search this Thread
Show Printable Version Email this Page	Search this Thread: Advanced Search