[TrecNY]

Unsure if this is an option, but was wondering if anyone has had luck getting equity for your lease if you turn it into a BMW dealership, without purchasing a new car from them?

I've found that Carvana, Vroom and other dealers will not buy out leases from BMWFS however since inventory is low at BMW dealerships (at least in my area) was curious if I could call around and see if a dealer will give me money if I turn the car into them. Trying to get around purchasing it and then selling it because of NY's lovely high tax rate

Thanks!

[shellbmb]

Originally Posted by TrecNY

Unsure if this is an option, but was wondering if anyone has had luck getting equity for your lease if you turn it into a BMW dealership, without purchasing a new car from them?

I've found that Carvana, Vroom and other dealers will not buy out leases from BMWFS however since inventory is low at BMW dealerships (at least in my area) was curious if I could call around and see if a dealer will give me money if I turn the car into them. Trying to get around purchasing it and then selling it because of NY's lovely high tax rate

Thanks!

Back in July when my lease had 5-6 months left, my local BMW dealership offered me 3k to sell it to them without buying anything else and walking away. I ended up ordering a new one and using the trade-in value towards tax savings on my new car. And still got about 2-3k in equity as well from the lease. They still ended up selling my 2018 for about 8-10k more.

[TrecNY]

Originally Posted by shellbmb

Back in July when my lease had 5-6 months left, my local BMW dealership offered me 3k to sell it to them without buying anything else and walking away. I ended up ordering a new one and using the trade-in value towards tax savings on my new car. And still got about 2-3k in equity as well from the lease. They still ended up selling my 2018 for about 8-10k more.

Thanks! So it's worth calling around then. Figure it won't be much but better then just handing it off to them. Appreciate it.

[phoenixbmwlife]

Originally Posted by TrecNY

Unsure if this is an option, but was wondering if anyone has had luck getting equity for your lease if you turn it into a BMW dealership, without purchasing a new car from them?

I've found that Carvana, Vroom and other dealers will not buy out leases from BMWFS however since inventory is low at BMW dealerships (at least in my area) was curious if I could call around and see if a dealer will give me money if I turn the car into them. Trying to get around purchasing it and then selling it because of NY's lovely high tax rate

Thanks!

You could use www.swapalease.com

[AGS]

My CA said he would process the sale to a 3rd party for a $1,000 fee. Better than paying almost $4k in sales tax, and I can sell to the highest bidder. I would ask your local dealership if they'll do the same. If not, I can ask my CA if he'd be willing to do it. You may need to bring the car to the dealership though (in NJ).

[trev230]

Just went though this. Had 30 days left on my lease. They gave me $9500 and treated it as a regular trade it in..

[TrecNY]

Originally Posted by AGS

My CA said he would process the sale to a 3rd party for a $1,000 fee. Better than paying almost $4k in sales tax, and I can sell to the highest bidder. I would ask your local dealership if they'll do the same. If not, I can ask my CA if he'd be willing to do it. You may need to bring the car to the dealership though (in NJ).

This sounds like a great idea too.
I am meeting with two dealers tomorrow. If they don't give me something decent, I'll look into going this route instead. If they won't facilitate it, then I will definitely reach out to you for your CA's info.

Thanks for this!

[Hoonigan]

I'm in the process of doing this with my X3M, but I am trading into a new M5 lease (with a year left on my X3M).

In this case they are offering $10k positive equity and treating it like a typical trade in

[TrevorM3]

bmw stopped 3rd party buyouts (from what i heard, recently)


my dad and brother were both lucky and dumped their m5 and m4 before that happened.. came out nice..

[NORTHSHOREM5]

Sold my cayenne hybrid back to Porsche 11 months early left a deposit for a 911 Turbo S -5k fully refundable , 24 month wait,Porsche has a program after 24 months if you purchase another Porsche they will take it back early with no penalty.
My pay off was 67,000 the vehicle sticker price was 96,000-6700 tax rebate (hybrid) and it sat on the boat for so long because of VW emission scandals that someone canceled their order for it and when it came in they gave it to me for another 7600 off the price so the. Car was technically 84,000 brand new 2019 .not to mention the MPG was wrong and the EPA made Porsche send every customer 1,000 dollars.
I was able to get 9,000 from them for it.
They put it on the lot CPO for 83,000 . The car was the same price before I put 28,000 miles on it.

They were ready to say thank you and let me just hand them the keys for them to pay it off at 67 and sell it for 83,000 .

So it is very possible to sell your car back to the dealer for a premium .

I took over a 2021 m5 lease , 1435 a month 24 months left car had 8000 miles on it .
Pay off will be 68,000 and the market now looks like a 3 year old M5 sells for more then 80,000 all day in the current market .

How that plays out when it's over maybe a different story but take advantage while the dealers are , likely won't experience a mass produced used car value increase like they have .

[NORTHSHOREM5]

They sold the car in 3-4 days btw. It's off their site within a week or two of listing it. I don't think they even put up the photos before it sold .
And that thing sucked Z, feel bad for the person who dropped 84,000 on a hybrid that contradicts itself

It's way heavier then the non hybrid
The hybrid battery lasted 5 miles tops in the winter
The power was not great despite gaveling 520 pounds feet torque prior to the VF engineering tune I had it flashed .
Handled like it was an over weight German Slob sad excuse for a Porsche , compared with a base cayenne.

Great investment though.

[pbonsalb]

It’s luck in the timing of the market. No one planned for COVID 2-3 years ago. Sometimes you get lucky on leasing but the car companies have finance teams trying to make sure you don’t. I’d guess there is another year of COVID shortages. But people leasing now aren’t getting big discounts off MSRP and great lease terms.