03-18-2019, 03:39 PM | #1 |
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Lease Return - 9 Months Early
I hate to start another lease thread, but here it goes.
I have 9 months left on my 340i lease and BMW already hit me up for a pre-inspection. Seems a bit premature, but maybe they want my car since I can't find any others spec'd out like mine in their network. This is Chapman BMW in Phoenix. I thought about taking them up on the pre-inspection to see what I could be potentially dinged on. I can tell you that two wheels have minor curb rash, the windshield was replaced with a non BMW branded windshield (long story) and I have some minor scratches on the front bumper due to a damn shredded tire on the freeway. Not too noticeable unless you really look for them. My question is this, do I even waste my time getting the inspection done at this point in time? I'd like to know what they're going to ding me on, but I know they just want me to come in to get me into another lease. At least that's my thoughts. Even if I was to get into another lease, which is a slim chance, it would be the M340i which won't be available until November. I also wouldn't mind buying my current car outright at lease end, but judging from some threads I've read here, that probably won't work in my favor. Doesn't seem BMW likes to budge on the RV. What to do, what to do... |
03-18-2019, 04:34 PM | #2 | |
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03-18-2019, 04:44 PM | #3 |
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I wouldn't bother. There is absolutely no incentive financially for you to even consider. At best they could do a pull-ahead but that would be only 4 payments so you would still need to cover 5 payments and if you're interested in the M340i, the initial rates and residual are going to be terrible. You mix in terrible rates/residual with your remaining payments, that's going to be one very expensive lease for a M340i.
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03-18-2019, 04:56 PM | #5 |
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Thanks guys and totally agree with you. I'm going to hold off until December and stop worrying for now.
And yes, the initial rates and lack of incentives on the M340i is going to be terrible. Makes me wonder if I should extend my lease for a bit. |
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03-18-2019, 05:15 PM | #6 |
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Once you have 3 payments remaining they'll start giving you incentives to buy. I just bought my F31 and got $4k rebate from BMW.
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03-18-2019, 05:21 PM | #7 | |
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I keep reading stories about BMW not budging at all on lease buyouts. |
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03-18-2019, 05:27 PM | #8 | |
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Additionally, yes, they will try and get you to do a pull ahead and lease a new car. You can do a lease extension, which I have done, if you want to wait on the M340i. You can get 2 months no questions asked. You will get some additional miles and your payment will be the same as it is now. However, you will have to pay for the registration, but iirc part of that is refundable upon completion of the lease extension, my memory is fuzzy, call to check. To get an additional 3 months, you will have to have a new BMW on order and a PO#.
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03-18-2019, 05:38 PM | #9 | ||
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My F31 yes the buyout was residual less the $4k free money. My F23 for example is due in June and the rebate is only $900 now. Will see what happens once I'm closer to end, seems it varies quite a bit car to car and month to month.
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03-18-2019, 11:42 PM | #10 | |
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However, unlike other responses, I see no downside to finding out lease turn in issues in advance. |
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03-19-2019, 10:10 AM | #11 | |
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The SA sure tried a few months ago. UGH |
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03-19-2019, 10:19 AM | #12 |
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A lease is a lease, nobody is forcing you to do anything, if you don't want too, you don't have too. Why is this even a discussion.
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03-19-2019, 11:30 AM | #13 | ||
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03-19-2019, 01:43 PM | #14 |
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03-19-2019, 09:11 PM | #15 | |
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03-19-2019, 09:28 PM | #16 | |
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03-20-2019, 09:29 AM | #17 |
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Must be a work around on that though if you get your wife etc. to buy it and register to a business address or if you moved it would be a new address. Either way seems petty by BMW as what reasonable person would expect someone to buy out the car at a RV that far exceeds current market... It would be fair as in the example above that they would offer you an incentive to buy the car out to discount it to reflect market.
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03-20-2019, 09:46 AM | #18 |
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Agree with others that it’s not worth a trip to the dealer at this point. When you’re a month or two out, then maybe it’ll be worthwhile but only if there’s stuff you’re on the fence about fixing. When we turned in my daughter’s Mini the dealer let a couple minor scratches and a little curb rash go since we were leasing a 230i as a replacement, so you have some leeway if you plan to get another BMW.
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03-20-2019, 12:16 PM | #19 |
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If you do end up turning the car in BE SURE to have your dealer do an inspection and get a written copy of the report. If you don't do that, it will get inspected at auction and you'll get slammed for every little thing.
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03-21-2019, 10:41 AM | #20 | |
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03-21-2019, 11:09 AM | #21 | |
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03-21-2019, 12:48 PM | #22 |
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I'll never forget my one and only lease experience. It was with Toyota on a minivan for my first wife. The BS they tried on the residual value was laughable. The van had been superseded by a new model, but they were still after over 60% of the purchase cost after four years. I flat out laughed at the person on the phone.
As the lease drew to a close the weirdness really kicked up. First, Toyota told me NOT to return the vehicle to the dealership it came from. Turns out some of the dealerships in that chain had been "losing" lease return vehicles. I thought the term was stealing, but I'm not in the motor trade and they often describe things oddly. Just before the last payment, the RV plummeted by 33%. I was fit to be tied because I'd already had to go out and buy my wife a replacement vehicle at MSRP. Sis-in-law ended up taking it at the new price, but the short version is that Toyota cost me $14k. I would burst my bladder rather than take a whizz on a Toyota lease person on fire. TL;DR version: If I was the OP I'd ignore the letters from the dealer and wait for the RV to drop. If it doesn't try reminding BMW that his vehicle is now a superseded model. |
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