Quote:
Originally Posted by lfcorrea
I just got my '16 F80 redelivered to me after an ED. Initially was thinking of just leasing and jumping into another lease in 3 years.
I had a change of heart, and by no means is the right way to do this...
Contacted PenFed and got their balloon payment financing (final payment due in 36 months). I will therefore pay off the lease and start paying PenFed.
Now, what was the benefit of doing it that way? My monthly payments went up $7, however my residual or final payment in the end will be almost 9k LESS than with the BMW lease. About 37k after 36 months.
I think the car will be worth more at that point. However I will likely keep it for another 1-2 years after that.
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This is very interesting. Can you please elaborate a little more on the details and how this works? Excuse my ignorance.