BMW Easy Ride Payments

Hey guys, was just wondering if anyone here has done the Easy ride payment thing and if you have, what kind of experience did you have? If I understand it correctly it's sort of like a lease? I searched the forum and didn't see anything in the top pages, so I apologize if this has been asked and answered.

I found a few things:

http://forums.bmwmoa.org/showthread...r-2014-R1200RT&p=943509&viewfull=1#post943509

http://forums.bmwmoa.org/showthread.php?62590-3asy-Financing-from-BMW

It's not a lease. A lease you have the option to return the vehicle and walk away with no further financial obligation other than excess wear and tear. The BMW plan is a balloon payment financing. The idea, like a lease, is low payments for a period of time and then a balloon payment that you can pay, refinance or what I suspect bmw hopes, trade the bike in on new. Originally I had thought the remaining amount would be your guaranteed trade in value but two dealers told me that wasn't the case.

Interest rate from BMW = 4.99 percent.

Interest rate from a local credit union = 0.99 percent.

Do your homework.

Harry

Just my opinion, but if you need a program like 3asy ride to buy a bike, you probably can't afford that bike. There are plenty of well cared for bikes with documented maintenance histories, low mileage, and farkles galore to choose from out there. I would've loved to have gone down to the local dealership and signed for a new dream bike, but it was way more affordable for me to pick up my used low mileage GS already setup with Corbins and Jesse's. If the snow ever melts here I may even get to ride it someday.

It's a way to get on a BMW if one has limited resources when servicing the initial monthly debt. However, it isn't the most fiscally efficient way to obtain a bike in the long run. If you have marginal finances when it comes to recreational debt, I'd steer clear.

AKsuited said:

Interest rate from BMW = 4.99 percent.

Interest rate from a local credit union = 0.99 percent.

Do your homework.

Harry

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My credit union is charging 3.42%. Who is your credit union? I want to join it.

txtinman said:

My credit union is charging 3.42%. Who is your credit union? I want to join it.

Click to expand...

https://www.servucu.com/

Harry

3asy Ride is a Balloon Payment. At whatever rate you qualify for through BMW FS.

At the end of your term (selected prior to signing up) you can either re-finance the balance, or pay it in full, or you can potentially trade it. The experience I've had is that if the bike is in nice shape and not ridden to severe depreciation, the balloon balance is less than the value of the bike. It's not guaranteed, but in most situations that has proven to be the case. Customers can use the equity from their bike towards their next one. This I am sure is BMW's intent with the program.


Webb Benninghoven
Sales & Marketing Manager
Gulf Coast Motorcycles
Ft. Myers, FL
239-481-8100
webb@gcmotorcycles.com

With the finance rates as low as they were when I bought mine (3.99%) EasyRide made no sense.

BMWEB said:

3asy Ride is a Balloon Payment. At whatever rate you qualify for through BMW FS.

At the end of your term (selected prior to signing up) you can either re-finance the balance, or pay it in full, or you can potentially trade it. The experience I've had is that if the bike is in nice shape and not ridden to severe depreciation, the balloon balance is less than the value of the bike. It's not guaranteed, but in most situations that has proven to be the case. Customers can use the equity from their bike towards their next one. This I am sure is BMW's intent with the program.


Webb Benninghoven
Sales & Marketing Manager
Gulf Coast Motorcycles
Ft. Myers, FL
239-481-8100
webb@gcmotorcycles.com

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Thank you for the information

BMWEB said:

3asy Ride is a Balloon Payment. At whatever rate you qualify for through BMW FS.

At the end of your term (selected prior to signing up) you can either re-finance the balance, or pay it in full, or you can potentially trade it. The experience I've had is that if the bike is in nice shape and not ridden to severe depreciation, the balloon balance is less than the value of the bike. It's not guaranteed, but in most situations that has proven to be the case. Customers can use the equity from their bike towards their next one. This I am sure is BMW's intent with the program.


Webb Benninghoven
Sales & Marketing Manager
Gulf Coast Motorcycles
Ft. Myers, FL
239-481-8100
webb@gcmotorcycles.com

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I really think BMW's intent is to sell more units. I doubt management was sitting in the boardroom contemplating how they could get more equity for their customers. If they wanted to do that, they should quit discounting prior MY every Fall/Winter. Those manufacture rebate/discounts take equity away by diluting the market with cheaper like products.

BMW 3asy Ride option?

I've asked my local dealers about this option, but nobody seems to be knowledgeable to give me the exact details on this subject.

So... does anyone here have any firsthand experience with "BMW 3asy Ride" option in 2018?

Whereabouts is your local dealer? Perhaps he's not participating. " BMW 3asy Ride is not available in NC, ND, NH, PA, and WV."

https://www.bmwmotorcycles.com/en/financial-services/3asy-ride.html

When you get more details be sure to do a comparison between this program and traditional financing. The amount of interest you pay to participate in lower payments, with a balloon final payment, is striking. Deferring principle pay down for sake of smaller payments can be a real eye opener, especially when one might need to (re)finance the balloon payment portion at end of BMW's plan.

Here’s some interesting food for thought. Bikes, as have cars, are getting more complicated with technologically in just about every system. I have friend who has stopped buying cars and now leases. His thought is that with all the technology being put in cars, an expensive repair is more of a when not an if. Under a lease, his cars are covered with the manufacturer’s warranty throughout his “ownership” of the cars. Taking that philosophy and applying it here, I wonder if going the “Easyride Financing” through BMW would be a reasonable option by getting a new bike every few years and your bike will be covered under warranty.

Some pluses appear to be

No worries about an onboard computer, screen or other expensive item needing to be replaced. They would be covered under warranty.

Dealers will always be willing to work on the bike.


Some negatives appear to be

Monthly payment would include initial deprecation that is typically the greatest in the initial years. The amount of interest paid would be greater, since the principal is not getting paid down as quick.

It’s impossible to know if you kept a late model bike long-term that it would require an expensive repair (e.g. computer, etc.).


What are other people’s thoughts here?

Leasing- financially, is a loser in my opinion. $299.00 a month for three years with only $3,600.00 down is $399.00 per month. If you want a new vehicle every three years and don't mind paying, it may be good.
OM

Omega Man said:

Leasing- financially, is a loser in my opinion. $299.00 a month for three years with only $3,600.00 down is $399.00 per month. If you want a new vehicle every three years and don't mind paying, it may be good.
OM

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Agree, leasing vs buying is generally predicated on how long you plan to keep a vehicle. We tend to longer-term ownership, so typically buy with financing (with USAA’s car buying service, i.e., TrueCar). Haven’t bought a new bike in this millenium, so will have some learning to get up to speed if/when I do.

We are buy and hold vehicle owners as well. Currently our primary vehicles range from 2007 to 2019 models. All are owned outright, no loans or leases. As for the concern of expensive repairs, well that is always a possibility. In fact our car, a 2014 BMW 435xi had to have some computer issues resolved recently at the dealership. The bill ended up being around $1200 including a new battery install. While that seems like a big expense, it would only represent two to three months of lease payments.