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      07-13-2020, 09:58 AM   #1
kern417
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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.
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      07-21-2020, 08:41 PM   #2
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Have you informed the local bmw dealer of your ownership. Usually takes something to get on a mailing list, a friendly visit, service ect
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      07-22-2020, 06:59 AM   #3
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Have you informed the local bmw dealer of your ownership. Usually takes something to get on a mailing list, a friendly visit, service ect
Yeah I've been there, but apparently everything is still supposed to be handled by the selling dealer.

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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Quote:
Originally Posted by kern417 View Post
Yeah I've been there, but apparently everything is still supposed to be handled by the selling dealer.

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.
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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Quote:
Originally Posted by Sportstick View Post
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.
Was this in September? I feel like their incentives and pricings are based on monthly offerings.
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      10-21-2020, 02:58 PM   #8
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Was this in September? I feel like their incentives and pricings are based on monthly offerings.
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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Quote:
Originally Posted by Zap View Post
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.
I'd be curious too.. my lease is up in May and I'd buy the car if there was a decent discount off my 36k residual.
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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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Quote:
Originally Posted by Zap View Post
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.
Mine was on my buyout offer. Wait for it to pop up in BMWFS and see what it says. They probably can't give an offer outside of what's automatically generated.
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As long as 3-pedals are an option, I will exercise my right to suffer the handicap and indignity of slower shifts and reaction times.
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      01-04-2021, 03:29 PM   #13
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Quote:
Originally Posted by kern417 View Post
Mine was on my buyout offer. Wait for it to pop up in BMWFS and see what it says. They probably can't give an offer outside of what's automatically generated.
We can't seem to find anything on the website at this time - we're about 2.5 months from the lease end date. How soon before the end did you see anything? It says to call them at that number which was useless for us the other day.

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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Quote:
Originally Posted by Zap View Post
We can't seem to find anything on the website at this time - we're about 2.5 months from the lease end date. How soon before the end did you see anything? It says to call them at that number which was useless for us the other day.

Otherwise most of the site has info on new cars.
Mine popped up in my BMWFS account around 45 days before my lease was up. I made this thread because I was nervous waiting that long too. Give it another 4 weeks.
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      02-15-2021, 05:24 PM   #15
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Quote:
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Mine popped up in my BMWFS account around 45 days before my lease was up. I made this thread because I was nervous waiting that long too. Give it another 4 weeks.
We've waited, but we are inside 45 days and still haven't seen anything. Got another call from the dealership who is more than happy to help broker a sale but can't do anything about the price. The phone people gave the exact same story.

Curious if anyone else has gotten a deal in the interim or where to find it in BMW FS.
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      02-17-2021, 01:44 AM   #16
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Quote:
Originally Posted by Zap View Post
We've waited, but we are inside 45 days and still haven't seen anything. Got another call from the dealership who is more than happy to help broker a sale but can't do anything about the price. The phone people gave the exact same story.

Curious if anyone else has gotten a deal in the interim or where to find it in BMW FS.
Very strange. Something should at least come up as an option to buy out the car. Are you saying that you don't see a discount, or they haven't even submitted a lease buyout offer/terms at all?
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      02-18-2021, 02:14 PM   #17
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Quote:
Originally Posted by kern417 View Post
Are you saying that you don't see a discount, or they haven't even submitted a lease buyout offer/terms at all?
There is no discount anywhere, which is really shoddy because the residual places the car above what dealers are selling similar cars for (thousands less). Same goes for the blue book price. It makes me wonder if the selling dealer may have padded the residual for whatever reason.

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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      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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