07-13-2020, 09:58 AM | #1 |
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Best deal on lease buyout
My lease ends next month, and I've gotten several communications from the dealer trying to put me into a 2020. I'm not really interested. At this point I had expected to receive some offers to buy out the lease, but none are coming. Do I need to haggle with the dealer directly or is that not a common practice anymore? I saw that they no longer allow dealers to buy the lease and then flip it back to you at a reduced cost, but I thought there would be other deals being advertised.
This is my first time buying out a lease and I'm working with an out-of-state dealer so any tips are appreciated. |
07-22-2020, 06:59 AM | #3 | |
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I ended up calling BMWFS and they took $3k off the residual, so I'm satisfied. I recommend calling them if you're in my scenario to see what they offer. |
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07-23-2020, 07:55 PM | #4 |
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Glad it worked out for you. I was recalling off my Honda leasing experience. Purchased my car 30 miles away, serviced it locally and the local dealership and purchasing dealership kept sending me offers to get me out of my 2006 RSX type s. Like just turn it in now end payments No fees or over mileage , and buy a brand new car!
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10-20-2020, 11:07 AM | #5 |
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Any updates on this? I saw over the summer they were offering 5500-6000 on lease buyout incentive but now hearing that all incentives have temporarily been removed, not just the extra part, but the usual discount as well.
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10-21-2020, 10:08 AM | #6 |
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I'm not sure how quickly things may be changing, but a few weeks ago, I took advantage of a $5,500 discount off the residual of my 3GT and just received the clear title in the mail yesterday. Between all payments made over three years and buyout, it equated to a 19% discount from MSRP on a car now with 16k miles...seemed quite a good deal. Never spoke to a dealer, no inspection...100% online transaction with BMW. Also my first lease and the selling dealer 3 years ago was in another state.
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10-21-2020, 01:26 PM | #7 | |
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10-21-2020, 02:58 PM | #8 |
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Yes, in September.
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12-11-2020, 06:32 PM | #9 |
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Any updates on the current buyout situation? Our 340's lease is up in March and we want to keep the car. We'd definitely close the deal if there was an incentive.
The selling dealer and our local both have sent us stuff. We know its automated because every person that works at our dealership knows we won't buy anything that lacks a manual transmission. Plus the newer styling is not our cup of tea either.
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12-16-2020, 07:39 PM | #10 | |
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12-30-2020, 08:15 PM | #11 |
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We've tried calling three times now and have gotten the runaround. One representative said incentives have to be handled by a dealer (which used to be an option a few years ago per these threads), but is now contrary to all the data we've seen on the forums here. They said that we had to talk to "FinJet" which is a 3rd party servicer to buy the car, but they offered nothing aside an interest rate and the residual value. The BMWFS rep said she had worked there a year and this has been the policy since she started, that they don't and can't modify "the contract".
Does anyone have additional details as to how this process is supposed to work? I'm going to call our dealership tomorrow but my gut is telling me we'll be told about the policy that has been in place for a few years where they are forbidden from negotiating the sale.
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01-03-2021, 02:54 AM | #12 | |
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01-04-2021, 03:29 PM | #13 | |
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Otherwise most of the site has info on new cars.
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01-05-2021, 12:52 PM | #14 | |
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02-15-2021, 05:24 PM | #15 | |
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Curious if anyone else has gotten a deal in the interim or where to find it in BMW FS.
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E93 (2009 M3): 6MT Jerez Black - Ext Leather, CWP, Prem, Tech, Rear PDC, Premium Sound M3 Retrofits [Alarm (w/ door sensors), FLA Mirror (Auto High Beams), Dyn RVC, Front PDC] Past (6MT) 2007 E92 SG - 2007 E92 MB - 2014 F30 335xi EB II |
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02-17-2021, 01:44 AM | #16 | |
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02-18-2021, 02:14 PM | #17 | |
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I get that they want us to lease another car, but with the manual being a non-option and some of the styling decisions, we have zero interest. We can extend the lease by a month or two, which we were told would drop the residual, so maybe we'd get a better deal (if they are offering anything in future months). We're originally up in late March.
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F30 (2017 340xi): 6MT Mineral Grey - CWP, DAP+, Lighting, M Sport, Tech, Track, M Rockers, MPPSK CF
E93 (2009 M3): 6MT Jerez Black - Ext Leather, CWP, Prem, Tech, Rear PDC, Premium Sound M3 Retrofits [Alarm (w/ door sensors), FLA Mirror (Auto High Beams), Dyn RVC, Front PDC] Past (6MT) 2007 E92 SG - 2007 E92 MB - 2014 F30 335xi EB II |
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02-28-2021, 09:05 AM | #18 |
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I finished the process abt a month ago to buyout my lease. Usually abt 90 days prior to lease end incentives showing if they are offered. 90 days for me was mid October. In September they were still offering 5500 and in October that stopped. No offer popped up. I kept checking and calling and nothing. My car had 13k miles on a rare combo so it's value was still good as a buyout so I still went forward with it. If I was at full miles I would have given it back.
BMW adjusts the incentive to control the number of cars that are returned and they have to sell on the 2nd hand market. When they want more cars they cut the incentive, when they have too many to deal with they increase the incentive. Timing not on my side this time around. |
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04-07-2021, 11:53 AM | #19 |
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I posted an update in the other thread I was commenting on - it can be found here. I eventually managed to get a fair price and we bought the car.
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E93 (2009 M3): 6MT Jerez Black - Ext Leather, CWP, Prem, Tech, Rear PDC, Premium Sound M3 Retrofits [Alarm (w/ door sensors), FLA Mirror (Auto High Beams), Dyn RVC, Front PDC] Past (6MT) 2007 E92 SG - 2007 E92 MB - 2014 F30 335xi EB II |
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