CPO Leasing

verstft · 08-16-2018, 11:03 AM

First and foremost. New to the forum, so hello everybody. Happy to be here.

Does anybody know what I can expect in terms of money factor compared to a new car?

Any of you guys leasing a CPO?

Cheers.

s3ri3s1 · 08-16-2018, 12:07 PM

I bought a CPO car. So far so good but I am only 3 months into ownership

rayxi · 08-16-2018, 12:18 PM

Didn't even know that leasing CPO was a thing. Would be interested to know the difference.

In my mind, I would think that there should be zero difference to you as the consumer other than the fact that you won't be the first "owner" of the vehicle. All warranties and maintenance should be the same.

kern417 · 08-16-2018, 12:44 PM

it'll depend on who you lease from, and not enough people on here do it (or publicize the details) to get a ballpark idea. You'll just need to shop around. I don't think BMW Financial offers it but I might be wrong.

IK6SPEED · 08-16-2018, 02:57 PM

Quote:

Originally Posted by verstft

First and foremost. New to the forum, so hello everybody. Happy to be here.

Does anybody know what I can expect in terms of money factor compared to a new car?

Any of you guys leasing a CPO?

Cheers.

BMW does not lease used cars in USA.

There has been some speculation they might lease a used car owned by Dealership Employee, but nothing absolute posted....speculation.

smuttana · 08-16-2018, 03:47 PM

Quote:

Originally Posted by IK6SPEED

BMW does not lease used cars in USA.

There has been some speculation they might lease a used car owned by Dealership Employee, but nothing absolute posted....speculation.

There are dealerships that do offer CPO leasing.

Ex: https://www.bmwoffreeport.com/bmw-cp...g-program.html

IK6SPEED · 08-16-2018, 03:49 PM

Quote:

Originally Posted by smuttana

There are dealerships that do offer CPO leasing.

Ex: https://www.bmwoffreeport.com/bmw-cp...g-program.html

Not offered through BMWFS, so BMW does not lease in USA.

3rd Party Financing so rates are much higher as no incentives.

smuttana · 08-16-2018, 03:54 PM

Quote:

Originally Posted by IK6SPEED

Not offered through BMWFS, so BMW does not lease in USA.

3rd Party Financing so rates are much higher as no incentives.

Their website says you can apparently. Anyhow yes, not sure what offers/advantages there are as the OP didn't mention

"Good credit is essential for approval, but don't worry too much. If your credit is good enough to qualify for traditional BMW financing, it's likely good enough for a lease."

IK6SPEED · 08-16-2018, 04:00 PM

Quote:

Originally Posted by smuttana

Quote:

Originally Posted by IK6SPEED

Not offered through BMWFS, so BMW does not lease in USA.

3rd Party Financing so rates are much higher as no incentives.

Their website says you can apparently. Anyhow yes, not sure what offers/advantages there are as the OP didn't mention

"Good credit is essential for approval, but don't worry too much. If your credit is good enough to qualify for traditional BMW financing, it's likely good enough for a lease."

Again, It does not say it is through BMWFS.

Furthermore, if you click on "Check Inventory" right under the Lease a BMW CPO, every Vehicle listed is either a 2018 Loaner or a 2016 i3 loaner.

That is not leasing any used CPO BMW.

Any BMW Dealership can Lease you a BMW Dealership Loaner Car through BMWFS. In fact, I am not sure that loaner cars are ever titled to Dealer or not

That link is obviously false and misleading.

IK6SPEED · 08-16-2018, 04:08 PM

Quote:

Originally Posted by smuttana

Another dealership, explicitly says must be between 2014-16 and financed through BMWFS

https://www.bmwoffreehold.com/certif...ial-offers.htm

"This offer is available on all model year 2014 - 2016 CPO BMW models with 36-to-60 month retail contracts financed through BMW Financial Services NA, LLC excluding Select contracts. To be eligible, qualified customers must have excellent credit history and meet BMW Financial Services' credit requirements."

Dude. Really?

BMWFS will finance a used car. They will NOT LEASE a used car.

Title of thread is CPO LEASING

Please verify your sources before posting more #FAKENEWS

EDIT: And of course you've deleted your post now.

Korvo · 08-16-2018, 04:12 PM

U Got Str8 Rekt M8

smuttana · 08-16-2018, 04:12 PM

Quote:

Originally Posted by IK6SPEED

Dude. Really?

BMWFS will finance a used car. They will NOT LEASE a used car.

Title of thread is CPO LEASING

Please verify your sources before posting more #FAKENEWS

EDIT: And of course you've deleted your post now.

I guess some of these dealerships have misleading websites then, as you are mentioning.
Anyways, not to thread jack anymore, good luck to OP with whatever option/financing they go with

IK6SPEED · 08-16-2018, 04:19 PM

Quote:

Originally Posted by smuttana

Quote:

Originally Posted by IK6SPEED

Dude. Really?

BMWFS will finance a used car. They will NOT LEASE a used car.

Title of thread is CPO LEASING

Please verify your sources before posting more #FAKENEWS

EDIT: And of course you've deleted your post now.

I guess some of these dealerships have misleading websites then, as you are mentioning.
Anyways, not to thread jack anymore, good luck to OP with whatever option/financing they go with

Spoke with "Anthony" in Finance Department at BMW of Freeport (your first and not deleted linked).

Asked him who did the leasing on their used CPO BMWs....was it BMWFS or a 3rd Party?

He said their Dealership did NOT offer leasing on Used CPO BMWs.

Pointed out it was on his website.

He then stated exactly what I stated earlier. Those are on Dealer Loaners only.

smuttana · 08-16-2018, 04:23 PM

Quote:

Originally Posted by IK6SPEED

Spoke with "Anthony" in Finance Department at BMW of Freeport (your first and not deleted linked).

Asked him who did the leasing on their used CPO BMWs....was it BMWFS or a 3rd Party?

He said their Dealership did NOT offer leasing on Used CPO BMWs.

Pointed out it was on his website.

He then stated exactly what I stated earlier. Those are on Dealer Loaners only.

Oh ok thanks for the correction and clarification. Maybe the OP was also mislead on the dealership they were looking at too

MacklinUSOB · 08-16-2018, 04:33 PM

BMW did unveil a CPO leasing program in 2016 but it was aimed to assist in moving off-lease inventory and was only available on select cars at the time. I was contacted by my salesman about it soon after it was announced but they only had a few 528's and 320/28s elidgible.

https://www.bmwblog.com/2016/04/13/b...ease-vehicles/

verstft · 08-16-2018, 05:40 PM

BMW dealership told on me the phone that they offered leasing on CPO.
I will find out if it's through BMWFS, I'm guessing it isn't.

Doesn't seem like a great idea to be honest, but if it was a competitive Money factor, the residual should be really good since the car has already taken the depreciation hit when it drove off the lot new.

Kev519 · 08-16-2018, 06:17 PM

In Canada, bmw does offer leases on used vehicles. Its on the website in the small print somewhere. I got a few quotes from bmw dealers but it didn't make too much sense when comparing with leasing new. This was due to the residual and interest rate differences of used vs new. The buy in and monthly payment was only slightly less compared to new. Ultimately I ended up leasing a 2018 demo.

IK6SPEED · 08-16-2018, 07:24 PM

Quote:

Originally Posted by kev_1s

In Canada, bmw does offer leases on used vehicles. Its on the website in the small print somewhere. I got a few quotes from bmw dealers but it didn't make too much sense when comparing with leasing new. This was due to the residual and interest rate differences of used vs new. The buy in and monthly payment was only slightly less compared to new. Ultimately I ended up leasing a 2018 demo.

The only reference to CPO Leasing on the BMW.ca site is date 2016 (same as the above from USA) when a glut of lease returns forced BMWFS to briefly lease SOME pre-owned cars coming off lease.

https://www.bmw.ca/en/topics/details...al-Offers.html

Kev519 · 08-16-2018, 08:39 PM

https://www.bmw.ca/en/topics/details...s/landing.html

Offers have changed since I was looking a few months ago, but this page small print notes leasing options on select 2014-2015 models as well. I seem to remember leasing options listed for up to 2017 in the special offers page. Greater point is that BMWFS does offer leases on pre-owned, and that the numbers were not much different than leasing new. The residuals were not as favorable as expected. When I was searching, there was a variety of years with CPO and leasing options when I contacted dealers. Good luck with your search.

IK6SPEED · 08-17-2018, 11:52 AM

Quote:

Originally Posted by kev_1s

https://www.bmw.ca/en/topics/details...s/landing.html

Offers have changed since I was looking a few months ago, but this page small print notes leasing options on select 2014-2015 models as well. I seem to remember leasing options listed for up to 2017 in the special offers page. Greater point is that BMWFS does offer leases on pre-owned, and that the numbers were not much different than leasing new. The residuals were not as favorable as expected. When I was searching, there was a variety of years with CPO and leasing options when I contacted dealers. Good luck with your search.

They certainly do not want anyone to find it. Cannot be found via search on their site or Google.

As they roll everything together with finance AND leasing, it would be very interesting to see what on could actually lease at a Canadian Dealership...

08-16-2018, 11:03 AM	#1
verstft New Member 3 Rep 16 Posts Drives: 2015 328i xDrive Join Date: Aug 2018 Location: NYC iTrader: (0) Garage List 2018 BMW 330i [0.00]	CPO Leasing First and foremost. New to the forum, so hello everybody. Happy to be here. Does anybody know what I can expect in terms of money factor compared to a new car? Any of you guys leasing a CPO? Cheers. Last edited by verstft; 08-16-2018 at 11:26 AM..
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08-16-2018, 12:07 PM	#2
s3ri3s1 Second Lieutenant 188 Rep 253 Posts Drives: alpine white 328 Join Date: Jul 2018 Location: Nashville iTrader: (1)	I bought a CPO car. So far so good but I am only 3 months into ownership
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08-16-2018, 12:18 PM	#3
rayxi researcher 40 Rep 129 Posts Drives: '15 328i xDrive Join Date: Feb 2006 Location: NYC iTrader: (0)	Didn't even know that leasing CPO was a thing. Would be interested to know the difference. In my mind, I would think that there should be zero difference to you as the consumer other than the fact that you won't be the first "owner" of the vehicle. All warranties and maintenance should be the same. __________________
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08-16-2018, 04:12 PM	#11
Korvo Respect My Authoritah 368 Rep 873 Posts Drives: 2014 335i M-Sport Join Date: Jun 2018 Location: Minneapolis, MN iTrader: (2)	U Got Str8 Rekt M8 __________________ 2014 335xi M-Sport 6MT: Estoril Blue II, MHD Stage 2+ , Dinan Exhaust, Dinan CAI, ER Catted DP, ER Chargepipe, AA FMIC.
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08-16-2018, 04:33 PM	#15
MacklinUSOB Captain 518 Rep 891 Posts Drives: f30 328i 6MT Sport Join Date: Jan 2017 Location: Connecticut iTrader: (0)	BMW did unveil a CPO leasing program in 2016 but it was aimed to assist in moving off-lease inventory and was only available on select cars at the time. I was contacted by my salesman about it soon after it was announced but they only had a few 528's and 320/28s elidgible. https://www.bmwblog.com/2016/04/13/b...ease-vehicles/ __________________ 328i RWD \| MW on CRed Slick Top \| 6MT \| BM3 \| MPE \| GPlus FMIC \| CSF Radiator \| Millway Street Camber Plates & Monoballs \| KW V2 6k/18k Swift Springs \| F80 LCA/TS \| SPL Bump Steer Kit \| APEX SM-10 \| R-S4 \| DS2500 \| RBF600 \| SS Lines \| Past: E36 328is & E38 740i
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08-16-2018, 05:40 PM	#16
verstft New Member 3 Rep 16 Posts Drives: 2015 328i xDrive Join Date: Aug 2018 Location: NYC iTrader: (0) Garage List 2018 BMW 330i [0.00]	BMW dealership told on me the phone that they offered leasing on CPO. I will find out if it's through BMWFS, I'm guessing it isn't. Doesn't seem like a great idea to be honest, but if it was a competitive Money factor, the residual should be really good since the car has already taken the depreciation hit when it drove off the lot new.
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08-16-2018, 06:17 PM	#17
Kev519 New Member 14 Rep 22 Posts Drives: 2018 F31 330i Join Date: Jul 2018 Location: London Ontario iTrader: (0)	In Canada, bmw does offer leases on used vehicles. Its on the website in the small print somewhere. I got a few quotes from bmw dealers but it didn't make too much sense when comparing with leasing new. This was due to the residual and interest rate differences of used vs new. The buy in and monthly payment was only slightly less compared to new. Ultimately I ended up leasing a 2018 demo.
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08-16-2018, 08:39 PM	#19
Kev519 New Member 14 Rep 22 Posts Drives: 2018 F31 330i Join Date: Jul 2018 Location: London Ontario iTrader: (0)	https://www.bmw.ca/en/topics/details...s/landing.html Offers have changed since I was looking a few months ago, but this page small print notes leasing options on select 2014-2015 models as well. I seem to remember leasing options listed for up to 2017 in the special offers page. Greater point is that BMWFS does offer leases on pre-owned, and that the numbers were not much different than leasing new. The residuals were not as favorable as expected. When I was searching, there was a variety of years with CPO and leasing options when I contacted dealers. Good luck with your search.
	Appreciate 0 Quote