[turnsignalslol]

I was planning on doing manual payments a couple days ahead of the due date just to be safe and let the payment process and everything to avoid any hiccups but that seems like a lot of unnecessary work since BMW has an "Easy Pay" system that automatically charges your payment amount on the due date.

I have two questions:

- If you manually make payments and choose to pay earlier than your due date, does that change your due date to the day the payment was processed or does it honor the original due date on the contract?

- Is there a risk of a payment being marked as "late" if you use Easy Pay? Since they charge you the day of, and charges usually take a couple days to stick, do they mark that you've paid as soon as the charge goes through and is pending or only when it is fully completed?

It seems you also can't make payments ahead of time (scheduling future payments), as I saw a thread where someone manually paid for a month and activated Easy Pay the same month and was double charged the payment, but the next month wasn't covered and it just acted like you paid extra in that month. Sorry if the wording is confusing, I can elaborate if anyone has any questions.

All help is appreciated, thanks!

[JMcLellan]

Originally Posted by turnsignalslol

I was planning on doing manual payments a couple days ahead of the due date just to be safe and let the payment process and everything to avoid any hiccups but that seems like a lot of unnecessary work since BMW has an "Easy Pay" system that automatically charges your payment amount on the due date.

I have two questions:

- If you manually make payments and choose to pay earlier than your due date, does that change your due date to the day the payment was processed or does it honor the original due date on the contract?

- Is there a risk of a payment being marked as "late" if you use Easy Pay? Since they charge you the day of, and charges usually take a couple days to stick, do they mark that you've paid as soon as the charge goes through and is pending or only when it is fully completed?

It seems you also can't make payments ahead of time (scheduling future payments), as I saw a thread where someone manually paid for a month and activated Easy Pay the same month and was double charged the payment, but the next month wasn't covered and it just acted like you paid extra in that month. Sorry if the wording is confusing, I can elaborate if anyone has any questions.

All help is appreciated, thanks!

I will try to help sharing my experience of previously having a loan with BMW FS. After I bought my car I setup autopay through BMW FS. It was set to make the payment on or around the due date and there was never a late payment, late fee or anything like that. When you setup autopay the system doesn't let you pick dates past the due date to ensure things are never late. Then through our bank we paid extra through the bill pay feature adding BMW FS as a payee. As I recall I couldn't set up autopay for anything different than the minimum payment, but I also didn't put much effort in trying to change it.

As time went by and the over paying started to stack up the due date always stayed the same, with the autopay continuing to come out; the only change was that the minimum payment due decreased and eventually said zero. But again the auto payments kept coming out.

Overall, I was very pleased with BMW FS and the functionality of their online pay tools. The only thing that was silly was when I went to pay off my car (with a a balance of about $20K left) I had to send a check to their office as there is a limit to how much you can pay online, which I think was $7500.

[JABCAT]

To add to the above. I'd recommend splitting your regular monthly payment into 2 payments 15 days apart. The interest accrual starts over whenever a payment is received so this method helps you really cut down on interest. Also making an extra principal-only payment, even $50/month will significantly cut down on the interest.

[J-RO]

Sorry if this is a stupid question but can the same principles apply to lease payment? Thanks.