According to…?
Hi, I’m considering to take advantage of OC here in IL as well.
dumb question:
Can the final balloon payment change, or is it an agreed upon value while signing the contract?
Are there any other additional costs while returning the vehicle?
Don’t forget there’s also no acq fee. So that’s $925 saved right off the bat.
really?! That almost makes up for the additional tax you’d have to pay for OC
Multiple dealers and BMW FS. Rules of OC is very different than traditional lease
Thank you for the heads up but I don’t seem to find it on the contract, need to read thru again.
Wonder if you can buy it out early, as my FS account does show my payoff information aad the tax is paid anyways. I assume BMW may prevent third party directly buying out the car but there’s really no obstacles to for me to do it and then sell to any dealers
Yes sir! But no gap coverage so there’s that…
But you pay much more in interest which again offset this saving… plus the extra in insurance policy since BMW is not providing a gap insurance for OC
Which dealer was this?
I’m pretty sure OC is still relevant if you live in Chicago proper. Gets you around the crazy taxes we have here.
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OC is not a lease at all. The buyer owns the car. All BMWFS should have is a lien that ensures they get paid back their balance when a sale occurs.
Curious to see what language exists in the contract to give control of an asset to someone it doesn’t belong to (ie BMWFS).
Agreed upon buyback, won’t change.
Have disposition fee ($300?) if you don’t get another BMW, same as if you leased.
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The residual is the same as a regular lease, it’s set and written on the contract. Over mileage fee is the same as lease too. $350 disposition fee if returning
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