[Echan330]

Does this sound correct or has anyone had experience with a lease buyout?

I am told that I will be charged $999 + taxes which includes an inspection fee and buyout fee. I was under the impression that if I buy-out the vehicle, I buy it out as is and if I were to return the vehicle, an inspection would occur and they would then account for any damages etc.

[bobblehead]

999 is very excessive

Call up bmw financial to ask

Each dealer sets their own price, you dont have to buy it out from your orig dealer

[Echan330]

Just thought I'd provide an update as the information maybe useful to others.

I ended up calling another BMW dealer in the Lower Mainland and was told that they would charge $6xx for the inspection and buyout fee plus taxes. The staff member I spoke to at Brian Jessel also voluntarily informed me that I could buyout the vehicle directly through BMW Canada and avoid paying the fee altogether. I will be calling BMW Canada tomorrow to inquire and will update this thread.

[bobblehead]

Not anymore. Bmw financial used to do this directly for buyout.

In ontario, i have heard around $ 500 or so + taxes

That's why i said to call aound ... It does not even have to be in the same province

[Echan330]

Just got off the phone with BMW Canada Financial Services. There is an option to buy-out the vehicle directly from them and avoid any additional fees from the dealer. This is the option I ended up selecting.

[bobblehead]

Oh. must have changed their policy (direct buyout) once again. Nice to know you are not bound by the dealer's route

Can you disclose of how much it will cost to do this with BMW Financial ?

Originally Posted by Echan330

Just got off the phone with BMW Canada Financial Services. There is an option to buy-out the vehicle directly from them and avoid any additional fees from the dealer. This is the option I ended up selecting.

[Echan330]

Through Bmw Canada Financial Services, there are no additional fees to pay. You just pay the residual and taxes from what I can see and the vehicle is yours.

Essentially, I just called BMW Financial services and they e-mailed me the following document. As it can be observed, no additional fees were added.

[bobblehead]

thanks

Nice to know that they are back to charging no fees for buyout.

Originally Posted by Echan330

Through Bmw Canada Financial Services, there are no additional fees to pay. You just pay the residual and taxes from what I can see and the vehicle is yours.

Essentially, I just called BMW Financial services and they e-mailed me the following document. As it can be observed, no additional fees were added.

[aspiring335]

Seriously, this is why Tesla's model needs to prevail and new car dealers should just die already. Dealers just don't add any value to the car buying process at all. If you're a reasonably informed buyer, it's guaranteed that you'll know more about the vehicle than the sales associate these days, and all they'll do is fight with you to try and add as many bogus fees and worthless warranties as they can to prop up their margins.

Then, as representatives of the brand (forget they are an independent business -- they have the brand plastered all over their storefront) they want to charge $1,000 for a transaction that probably takes minutes and is performed by a low-paid staff member who is in the thankless position of having a job specifically to screw the customer.

[Tim@codemybimmer]

Originally Posted by aspiring335

Seriously, this is why Tesla's model needs to prevail and new car dealers should just die already.

Well most Mercedes-Benz dealers here are Corporate Stores, which are presumably owned and operated by Mercedes-Benz Canada. Not too sure if that's a good example but it's a start.

[fxie]

Originally Posted by Timbits93

Well most Mercedes-Benz dealers here are Corporate Stores, which are presumably owned and operated by Mercedes-Benz Canada. Not too sure if that's a good example but it's a start.

Ugh, I've had the worst experience with MB Corporate stores here in Toronto. After 4 MB vehicles and horrible buying experiences, I switched over to the only non-corporate MB store in the GTA and couldn't be happier.