09-17-2016, 08:39 PM | #1 |
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End of lease buyout? 428
Has anyone come to end of lease for a 4 series? Has anyone been able to get any discount off the residual? I'm having trouble getting any dealership to knock off anything off the residual.
I've only got one payment left and am at half allotted miles.
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09-17-2016, 10:11 PM | #2 |
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They generally don't budge when buying out a lease in my experience. Your better off getting a CPO car which would carry a warranty to 100k.
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09-17-2016, 11:25 PM | #3 |
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At the dealership we work at, when we have customers wanting to buy their lease we normally let them turn the car in, we buy it and CPO it, and then sell it back to them. This almost always ends up being the most efficient route for both ends.
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09-18-2016, 05:57 AM | #4 | |
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OP - you need a better dealer
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09-18-2016, 08:49 AM | #5 | ||
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When you turned the car back in, how long did it take for your dealership to buy the car and you get back into your car? Was it something that was the same day or did it take a couple of weeks. Also, were you concerned that they would buy it and then sell it to someone else at a higher price?
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'14 428XI, Alpine White, Coral, MSport, Auto, Premium, Tech, Heated Seats/Steering, Drivers Ass, Drivers+ - On Order for ED |
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09-18-2016, 09:10 AM | #6 | |
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'06 325Xi - Jet Black - SOLD, '08 328Xi - Jet Black, Coral, 6spd - SOLD, '07 328Xi - Jet Black, SOLD, '11 328Xi, Deep Sea Blue, Oyster/Black - SOLD
'14 428XI, Alpine White, Coral, MSport, Auto, Premium, Tech, Heated Seats/Steering, Drivers Ass, Drivers+ - On Order for ED |
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09-18-2016, 10:34 AM | #7 |
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Recently (one month) ago I elected to turn in my 328i rather than buy it. The residual was $27,800 which was more than it was really worth. They offered to sell it to me for $24,625 so that's $3,175 below residual or 11.4% less.
I passed on the offer because that price was WAY too close to the trade in value. I have no regrets about walking away from the deal. Bottom line is they can sell it for less than the residual it if they want to. |
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09-18-2016, 12:10 PM | #8 | |||
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09-18-2016, 12:14 PM | #9 | ||||
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'06 325Xi - Jet Black - SOLD, '08 328Xi - Jet Black, Coral, 6spd - SOLD, '07 328Xi - Jet Black, SOLD, '11 328Xi, Deep Sea Blue, Oyster/Black - SOLD
'14 428XI, Alpine White, Coral, MSport, Auto, Premium, Tech, Heated Seats/Steering, Drivers Ass, Drivers+ - On Order for ED |
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09-18-2016, 02:55 PM | #10 |
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Explorer, I pm'd you. If my dealership is doing anything BMWFS wouldn't like, I don't want to get them in trouble. We have a long history and they've always been good to me.
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09-18-2016, 06:51 PM | #11 |
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09-20-2016, 02:07 AM | #12 | |
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But yes, working with a cooperative dealer will save you a ton. I have posted several lengthy posts giving my example. BMWFS will not negotiate with Customer. Period. |
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09-20-2016, 02:11 AM | #13 |
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CPO adds on roughly $1600 to the price you are paying and generally covers crap. Note there is also a deductible on every repair after 4 year warrant expires.
Better to work with Dealer to purchase a better extended warranty at a discount while purchasing the car through them. |
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09-20-2016, 05:24 AM | #14 | |
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So far no one has been able to give me a better price than residual. Does the msd have anything to do with it? Every place will deduct the msd and say "hey, you transfer your security deposit and we will sell you the car for 33k!!" Meanwhile, if you add the security deposit back in, that's residual.
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'06 325Xi - Jet Black - SOLD, '08 328Xi - Jet Black, Coral, 6spd - SOLD, '07 328Xi - Jet Black, SOLD, '11 328Xi, Deep Sea Blue, Oyster/Black - SOLD
'14 428XI, Alpine White, Coral, MSport, Auto, Premium, Tech, Heated Seats/Steering, Drivers Ass, Drivers+ - On Order for ED |
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09-20-2016, 11:33 AM | #15 |
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How do you know BMW looks at the sticker price? My real life experience says they don't.
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Current- '21 430 , '19 911, 07 M6 ,'17 Jeep Wrangler, "23 Bronco OBXluxsquatch Last edited by wrickem; 09-20-2016 at 01:37 PM.. |
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09-20-2016, 12:38 PM | #16 | |
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For certification from my dealership "The cost to certify your car is $1860, plus anything it might need to meet the Certified BMW qualifications. This assumes it needs no tires or brakes...if it needs those items in order to be sold as a "Certified Pre-Owned BMW" then those items would have to be added to the cost of the car" Since some tolerances are different than what BMW will pay for under their warranty/maintenance, if your brakes are below the specs for Certification but above what maintenance pays for, you pay out of pocket for the new brakes. This was actually the deal breaker when I thought about buying my '04 X3 off lease in '07, it needed brakes all around and it was not a good deal after taking that into consideration. I just went with platinum extended warranty, it covered way more stuff, and I'll let BMW pay for my brakes. I still think you need to find a reputable dealership and build a good relationship with them.
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09-21-2016, 02:30 AM | #17 | |
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The sticker price shows how loaded the car is. Again, I've put in very exact details of figures in 2 other threads but will not waste that much time again as OP never came back and posted what he did or what the best offer he ended up with. You can search for similar threads within the last several months. Last edited by Kabrich; 09-21-2016 at 02:40 AM.. |
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09-21-2016, 02:35 AM | #18 | |
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The dealer isn't going to do it for free. has to make money somewhere in deal. Would probably be smart to get it done by end of month as we go into last few Days. Extra money for their month end....and Quarter end. |
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09-21-2016, 09:35 AM | #20 |
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Would the same be true for Owner's Choice? You have OC in Texas, right?
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09-21-2016, 07:24 PM | #21 |
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When you think about the buying/leasing process so much funny money is tossed around between parties. The residual is based on MSRP, but no one pays that so I guess why would you expect anyone to pay the residual either.
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09-21-2016, 08:02 PM | #22 | ||
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Took me a while to reply since most dealerships I contacted were playing too many games or not being responsive. Thanks everyone for their input. Your answers pushed me to keep on trying to contact other dealerships since clearly there was some wiggle room involved. Of course after I drop the vehicle off to get cpo'ed, a friend mentions his brother owns a dealership.
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'06 325Xi - Jet Black - SOLD, '08 328Xi - Jet Black, Coral, 6spd - SOLD, '07 328Xi - Jet Black, SOLD, '11 328Xi, Deep Sea Blue, Oyster/Black - SOLD
'14 428XI, Alpine White, Coral, MSport, Auto, Premium, Tech, Heated Seats/Steering, Drivers Ass, Drivers+ - On Order for ED |
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