[Bimmr7]

I just made my first payment and I don’t have the car lol.

[snareman]

Originally Posted by Bimmr7

I just made my first payment and I don’t have the car lol.

When do you get the car? Hopefully you actually ordered one because that would extra suck to make a payment on a car you never ordered.

[Bimmr7]

Originally Posted by snareman

When do you get the car? Hopefully you actually ordered one because that would extra suck to make a payment on a car you never ordered.

Yeah, lol I get it between March 8th and 14th

[Salespunk]

Why would you pay for it before receiving it? I assume you don't have title since you haven't received it yet.

[GOLFFRR]

? im confused. They are not even out yet or able to be released. can you expand a little? are you paying a loan you took from a bank?

side note, March is soooo close and these cars getting released is so close, you and everyone else just hang in there it will be here before you know it!!

[mkoesel]

Originally Posted by Salespunk

Why would you pay for it before receiving it?

Hey, it works for Amazon and Uber Eats, why not a car too?

[Bimmr7]

Originally Posted by GOLFFRR

? im confused. They are not even out yet or able to be released. can you expand a little? are you paying a loan you took from a bank?

side note, March is soooo close and these cars getting released is so close, you and everyone else just hang in there it will be here before you know it!!

Yes I financed it through my Credit Union. I thought about buying it out right but that didn’t seem like a good financial decision. I’ll use the banks money.

[GOLFFRR]

Originally Posted by Bimmr7

Yes I financed it through my Credit Union. I thought about buying it out right but that didn’t seem like a good financial decision. I’ll use the banks money.

you are paying a loan you took out, gotcha, ok thats what I thought, just wanted to clarify and make sure you weren't getting screwed somehow!

[mkoesel]

Originally Posted by Bimmr7

Yes I financed it through my Credit Union. I thought about buying it out right but that didn’t seem like a good financial decision. I’ll use the banks money.

In the US, or at least in my state, you typically don't close on the loan until you are ready to take possession of the vehicle.

It's not that big a deal since any money you put into the loan is going to decrease your balance and increase your equity in the vehicle. Although, should something go awry with vehicle or the deal, you are stuck paying on nothing indefinitely. And if you had to call the whole thing off for some reason, you'd probably lose the interest paid at a minimum.

[Bimmr7]

Originally Posted by GOLFFRR

you are paying a loan you took out, gotcha, ok thats what I thought, just wanted to clarify and make sure you weren't getting screwed somehow!

Lol thanks

[Bimmr7]

Originally Posted by mkoesel

In the US, or at least in my state, you typically don't close on the loan until you are ready to take possession of the vehicle.

It's not that big a deal since any money you put into the loan is going to decrease your balance and increase your equity in the vehicle. Although, should something go awry with vehicle or the deal, you are stuck paying on nothing indefinitely. And if you had to call the whole thing off for some reason, you'd probably lose the interest paid at a minimum.

This post was meant to be tongue in cheek. I ordered directly from BMW AG here in Germany as a U.S. resident stationed overseas. The car will not fall under BMWNA until I return to the states.

[mkoesel]

Originally Posted by Bimmr7

This post was meant to be tongue in cheek. I ordered directly from BMW AG here in Germany as a U.S. resident stationed overseas. The car will not fall under BMWNA until I return to the states.

Got it, ok.

Even given that information, it's still not obvious to me why payments would start before delivery. But it sounds like you've got it all under control and that's what matters. Good luck with the new car.

[Vectors2final]

It's not all that outlandish.

When I bought my first F80, I was in Korea and was using Penfed. Since the BMW Military sales program requires payment right away, so I made like five payments before I even saw the damn thing.

Different circumstances, but yeah.


EDIT: Just saw the other post.. lol

[Bimmr7]

Originally Posted by Vectors2final

It's not all that outlandish.

When I bought my first F80, I was in Korea and was using Penfed. Since the BMW Military sales program requires payment right away, so I made like five payments before I even saw the damn thing.

Different circumstances, but yeah.


EDIT: Just saw the other post.. lol

Exact scenario lol. They tried to get me to do the loan as soon as it was ordered back in November and I politely declined.

[snareman]

Originally Posted by Bimmr7

Exact scenario lol. They tried to get me to do the loan as soon as it was ordered back in November and I politely declined.

I mean, I guess you are still paying down your loan just the same but it does seem crazy to be making payments on a car months before you get it.

[Bimmr7]

Originally Posted by snareman

I mean, I guess you are still paying down your loan just the same but it does seem crazy to be making payments on a car months before you get it.

Car will be delivered March 14th. Payment was due March 25th. I just paid it early.

[snareman]

Originally Posted by Bimmr7

Car will be delivered March 14th. Payment was due March 25th. I just paid it early.

Oh, ok. That's not too bad then.