[allanak]

Do the ED. Did my first one this year and cannot recommend it enough. I met a gentlemen at the Welt who was on his fourth ED if that gives you any indication Yes, you can do it on a lease - I did. Had a blast and plan on going back in 2014 if they can pry the keys from my 1er out of my hands.

As far as your costs, you can use the BMWConfig site to figure out ED invoice and negotiate a profit for the dealer. You avoid the MACO/training fees, but everything else is the same. You should be able to negotiate about $500 over. Insurance and pretty much everything else is covered while you're in the EU with the exception of vignettes for visiting Switzerland or Austria. You literally drive out of the Welt and off to your next destination...which should probably be a gas station If you happen to have any damage to your car, BMW will repair it free of charge at the port of entry so long as you report it at drop-off time. On a lease, BMW picks up one your 2nd month payment while you're waiting for your car.

There are several drop-off points around Europe. It doesn't cost you anything to drop off at the places aside from cab ride back to wherever you're going. I think Italy is the exception here.

Best part of the trip? The Nürburgring.
The worst part? Waiting 8 weeks from dropoff to get my car back on the west coast.

There's a lot more info on ED on the Bimmerfest wiki.