[floating.spirit]

If I decided to keep the car, can BMW or a dealer say thanks but no thanks, we'll take it?

[Ex_Stig]

Pretty sure you have first right of refusal. Plus, you don't even have to go through a your dealer to do a end of lease buyout.

[jko2001]

Not sure how it is in Washington, but I can't imagine it's all that different than up here. I'm pretty sure the lease is provided via BMW Financial and it should come with a buyout option equal to your residual (possibly with a nominal fee attached and however taxes are treated there). You should be able to contact them directly (as GNALUZU stated, no need to go to the dealer on this). I doubt there's any room for negotiation, but it never hurts to try, especially with everything that is going on at the moment. Good luck!

[Ex_Stig]

I just saw this on another thread. Looks like BMW FS is offering discounts on the residual.

[floating.spirit]

Originally Posted by GNALUZU

I just saw this on another thread. Looks like BMW FS is offering discounts on the residual.

Hmmm...nice share! In my case, I'm in the lease-or-buy decision phase though. Most advise lease but I'm not a Car switcher. My cuz who sells Merck's says lease or go used with 1-3k miles on to dodge the depreciation hit, but I dunno how hard previous owner may have beaten on it...

[somer]

Usually have to pay a large fee (was $4k unegotiable when I bought my F10 at the end of the lease)

[Ex_Stig]

Originally Posted by somer

Usually have to pay a large fee (was $4k unegotiable when I bought my F10 at the end of the lease)

Was that just taxes? All the residual costs are usually outlined in the lease agreement at inception.

[somer]

Originally Posted by GNALUZU

Was that just taxes? All the residual costs are usually outlined in the lease agreement at inception.

The problem is the original dealer cant sell you back the car for just the residual value. BMW tries to recoup the losses they incur on the lease when selling it back to the original owner in what's called a customer loyalty quote adder fee. Between CPO and that, it was like $7k plus a negotiated price on the car to buyout my F10. It was a bad decision of course but the timing of when the lease ended was terrible, the F90 was about 6 months out and I hate the ZF transmission. I hate the sound of the F80, and I don't like Mercedes. I was in a pickle and made an emotional decision, but hey thats the way it goes. This was all back in 2017, so maybe stuff has changed now, which wouldn't surprise me.

[Ex_Stig]

Originally Posted by somer

The problem is the original dealer cant sell you back the car for just the residual value. BMW tries to recoup the losses they incur on the lease when selling it back to the original owner in what's called a customer loyalty quote adder fee. Between CPO and that, it was like $7k plus a negotiated price on the car to buyout my F10. It was a bad decision of course but the timing of when the lease ended was terrible, the F90 was about 6 months out and I hate the ZF transmission. I hate the sound of the F80, and I don't like Mercedes. I was in a pickle and made an emotional decision, but hey thats the way it goes. This was all back in 2017, so maybe stuff has changed now, which wouldn't surprise me.

Not to twist the knife, but the dealer doesn't have to CPO a lease return. They absolutely can sell the car for the residual amount.

If time were on your side, you could have taken the car to a different dealer to do the turn in and buyout.

[somer]

Originally Posted by GNALUZU

Not to twist the knife, but the dealer doesn't have to CPO a lease return. They absolutely can sell the car for the residual amount.

If time were on your side, you could have taken the car to a different dealer to do the turn in and buyout.

I know, I wanted the CPO and it sure helped me out in the end as the motor blew in February of 2019 and they covered the entire cost at $38k. Also both dealers around here are connected so I couldn't turn the car in at either place and avoid the fee. In addition, the deal on the car was actually pretty fair, it was just the idiotic 4k fee that was tacked on. They threw me a bone with the CPO as the tires technically needed replacing and they moved that through as if they were fine, so that's -1300 or so off the 4k fee is how I looked at it.

I still just love the car, has 93k miles and I had the front bumper resprayed recently and the car looks perfect for its age and drives like it's near brand new. Just makes me sick the dealer would probably give me 25k for it