Leasing questions

[Solarium]

I'm interested in paying off the rest of the lease of my 24 months, is there any benefits in doing this? Also, is it possible to put down MSD's during the middle of the lease to decrease the MF for the rest of the payments?

Thanks

[BavarianFanatic]

You can pay it off whenever you want, but there's no benefit since it's a predetermined number of payments at a predetermined amount. It's not like paying off a loan. You can't add MSDs mid-contract.

[visi107]

What you can do though is ask for a pay off quote and outright buy the car. That would save some interest.

But the bigger question is why do you want to pay of the lease? do you want to keep the car? won't be able to make the monthly payments in the future? or some other reason?

[Solarium]

Originally Posted by BavarianFanatic

You can pay it off whenever you want, but there's no benefit since it's a predetermined number of payments at a predetermined amount. It's not like paying off a loan. You can't add MSDs mid-contract.

Yea I called them earlier and they told me the same thing

Originally Posted by visi107

What you can do though is ask for a pay off quote and outright buy the car. That would save some interest.

But the bigger question is why do you want to pay of the lease? do you want to keep the car? won't be able to make the monthly payments in the future? or some other reason?

I don't plan on keeping the car since it was a take over with 24 months left. By then I probably want to drive a different car or the new gen M4 would be out. The quote was also obscenely high, it was near $72000 with only exec package.

A off-topic question. The original owner has OEM front lip installed, and I keep scraping the bottom of it. Do I run the risk of having to pay for a replacement when I return the car or do they not check? Also, do dealers take that off for you for free?

[BimmerBahn]

Originally Posted by Solarium

Yea I called them earlier and they told me the same thing

I don't plan on keeping the car since it was a take over with 24 months left. By then I probably want to drive a different car or the new gen M4 would be out. The quote was also obscenely high, it was near $72000 with only exec package.

Sounds like you did a lease assumption... If you're planning to keep the car until the end of the lease contract, I'd put the $$ you'd write to BMWFS in an account and just have the monthly come out... No benefit to doing the one-pay thing, or paying 24 x monthly in one chunk. I don't think they give you any reduction in MF, etc. At least the $$ will be making interest , albeit a very small amount.

Originally Posted by Solarium

A off-topic question. The original owner has OEM front lip installed, and I keep scraping the bottom of it. Do I run the risk of having to pay for a replacement when I return the car or do they not check? Also, do dealers take that off for you for free?

If it was delivered as part of the car, technically you're on the hook for it, even though it really depends on if the dealer with notice or not. If they ding you and you don't have lease protection, you are charged at the end-of-lease settlement (after the car is turned in). Oh and if you don't lease another BMW, you get a $350 lease disposition fee.

In the meantime, enjoy the ride.

Cheers,