[TrevorM3]

Originally Posted by GNALUZU

Call BMWFS directly. They are the only ones who can honestly answer the question.

and just to add one thing, BMWFS will NOT give you a payoff over the phone.. they will email you, along with other important leasepayoff info.

[LSM]

Originally Posted by GNALUZU

I already do!

This will be my first non-blue M car since my '03 M3.

What color you getting on your M5 CS?

[Ex_Stig]

Originally Posted by LSM

What color you getting on your M5 CS?

Brands Hatch Grey.

Not a fan of frozen colors, so not much of a choice. Lol

[LSM]

Originally Posted by GNALUZU

Brands Hatch Grey.

Not a fan of frozen colors, so not much of a choice. Lol

Yea odd they didn't offer more colors..

Congrats on the incoming missile! :-)

[Oswiff]

Audi is charging premiums to third party companies like Carvana and vroom. It basically negates the positive equity one has in the lease.
My friend was unloading an a4, and Carvana was offering $5k over his customer payoff, but the payoff Carvana received would just net him $85.

[MistaVauros]

We need regulation on this shit, ASAP! They should not be allowed to impose this on lessees.

[Damzz]

Originally Posted by MistaVauros

When did this change happen?

If your current lease doesn't say this and you never signed an addendum, you can most likely do whatever you want.

[Stealth7]

Couldn't you just avoid this issue by buying the car yourself at the buyout price and then immediately reselling it?

This is just one of the reasons why choose to own many of my cars when I don't know how long I will have the car.

[MistaVauros]

Originally Posted by Stealth7

Couldn't you just avoid this issue by buying the car yourself at the buyout price and then immediately reselling it?

This is just one of the reasons why choose to own many of my cars when I don't know how long I will have the car.

M5s depreciate way too fast for most to consider buying them. Also, most of us have a business through which we either write off the payments or the miles.

[MistaVauros]

Originally Posted by Stealth7

Couldn't you just avoid this issue by buying the car yourself at the buyout price and then immediately reselling it?

This is just one of the reasons why choose to own many of my cars when I don't know how long I will have the car.

And pay sales taxes and registration again?! No thanks! It fully negates the benefit if you do that.

[Ex_Stig]

Originally Posted by Stealth7

Couldn't you just avoid this issue by buying the car yourself at the buyout price and then immediately reselling it?

This is just one of the reasons why choose to own many of my cars when I don't know how long I will have the car.

Yes, you can, but… you will have to pay sales tax on the residual amount. That usually eats up any equity that might be on the lease.

As I said before, there is no truth to this rumor in regards to BMWFS. If people want the real answers they need to call BMWFS directly and stop listening to their dealership (who is only telling you these lies because they want to make more money).

Any dealership can buy out your lease. Also, you don't need your dealership to facilitate anything if you decide to sell to CarMax, Carvana, etc.

[CGM]

I need a little clarity. Carmax offered me 78k for my 2019. My buyout when I discussed with BMWFS is 70k. They never mentioned anything about a third party price.

If I sell to Carmax is there a tax event for me?

[Ex_Stig]

Originally Posted by CGM

I need a little clarity. Carmax offered me 78k for my 2019. My buyout when I discussed with BMWFS is 70k. They never mentioned anything about a third party price.

If I sell to Carmax is there a tax event for me?

100% no tax event to you.

Think of it this way, CarMax is buying the "option to buy the vehicle" from you. The Third Party Payoff documents have the pages to authorize them to receive the title.

[shellbmb]

Originally Posted by GNALUZU

100% no tax event to you.

Think of it this way, CarMax is buying the "option to buy the vehicle" from you. The Third Party Payoff documents have the pages to authorize them to receive the title.

Do you know if this is the same in every state? I know in Texas, you have to pay full sales tax on the buyout at least if you buy it out for personal use and title it in your name. I have never sold a leased car to a 3rd party.

For me, I'm looking at another M5 lease. So If I sell to BMW, they will use the sale of my vehicle as a trade-in towards the new lease. So it saves me sales tax on my new vehicle which is huge since in Texas, we pay full sales tax on the car even if we lease it. For me, that's potentially like 4-5k.

[Ex_Stig]

Originally Posted by shellbmb

Do you know if this is the same in every state? I know in Texas, you have to pay full sales tax on the buyout at least if you buy it out for personal use and title it in your name. I have never sold a leased car to a 3rd party.

For me, I'm looking at another M5 lease. So If I sell to BMW, they will use the sale of my vehicle as a trade-in towards the new lease. So it saves me sales tax on my new vehicle which is huge since in Texas, we pay full sales tax on the car even if we lease it. For me, that's potentially like 4-5k.

I don't know every state, but had I bought out the lease myself I would have been required to pay sales tax.

Dealers aren't subject to that tax when they do a lease buyout. At least, they aren't here in Arizona.

Luckily, we only pay tax on the monthly payment and not the entire car.

[MistaVauros]

Originally Posted by CGM

I need a little clarity. Carmax offered me 78k for my 2019. My buyout when I discussed with BMWFS is 70k. They never mentioned anything about a third party price.

If I sell to Carmax is there a tax event for me?

How do you have 8k equity on your lease? I assume you're at least 50% under miles…

[DocWeatherington]

Originally Posted by MistaVauros

And pay sales taxes and registration again?! No thanks! It fully negates the benefit if you do that.

That depends upon the state but in some cases it's not that much and others it's a lot so.. case by case..

[DocWeatherington]

Originally Posted by MistaVauros

How do you have 8k equity on your lease? I assume you're at least 50% under miles…

Current market values are inflated (inventory /chip shortage), and if he got a killer leasing deal initially, equity would have been their from the start. Or a large downpayment.

Lower mileage helps but not that much.

[CGM]

I have 20k miles on the car. I got a good deal on my initial lease but not killer. I think the used car market is driving it.

[NJBMWSpecial]

As others have stated, please call BMWFS for the most up to date status. Last week, my 2018 x3m40 was due to be returned off lease. I had a 3rd party dealership interested in buying it so I called BMWFS and inquired about the difference in my payoff amount vs residual due. The payoff amount was what I owed on the car if I wanted to buy(residual, +taxes, +fees) while the residual was the amount owed if 3rd party wanted to buy. I instructed BMWFS to email me the paperwork for 3rd party sale and then negotiated a price with the 3rd party to cover my residual. This worked out well for me as I was 11k miles over my lease amount plus I would have needed 4 tires. The entire process from call to final sale and leaving the vehicle took about 2 hours. Was very easy and straight forward.

[TrevorM3]

please refer back to post 12..

[Aronis]

I skipped to the end...

Is not the lease document between you and BMW? So how would you expect BMW to honor the buyout figure with a third party. You need to watch more Judge Judy.



Mike