[blk335i08]

So the time has flown by and it’s been almost 3 years since I leased my beautiful black on black 335i. Knock on wood I haven’t had any major problems with the car and am seriously considering buying out the lease.

I read a few threads and have got a little confused on the whole situation…

I had previously read that calling BMW FS you could negotiate the buyout price (in my case 30k). Except when I called, they told me that all negotiations have to done at a dealership. Is this true? Or were they misinformed?

Also since my buyout is 30k and I’ve already invested 30k into the car, obviously I’d like to get the price down as much as possible since the car was only 50k. I’ve read some people have knocked it down close to 26k but how likely is that?

Lastly If I CPO the car am I eligible for the 2.9% interest rates or does this vary by location? And are these rates available for a 72 month term?

Thanks for the help

[ChasVS]

Can't answer all questions specifically, But i do know that you don't have to go back to the Dealer who originated the lease. I've seen posts here by folks who shopped their Buy with various dealers and went with the one who offered the best deal. Check it out.

[username604]

i'd make sure its cpo.
its expensive to own w/o a warranty lol

[blk335i08]

Originally Posted by davidkneiber

i'd make sure its cpo.
its expensive to own w/o a warranty lol

Well wouldn't I still have my 4year/50k mile warranty even if I didn't CPO?

[galahad05]

Yes, you'd still have the original new-car warranty.

I bought mine out, and elected to keep the ~$2k for the CPO process in my bank account. Only time will tell if it was a bad decision on my part.

But I will say this: BMW charges about $2k (well, more like $1200) for the CPO warranty, and I have to assume they make money off of this....you do the math.

[blk335i08]

Originally Posted by galahad05

Yes, you'd still have the original new-car warranty.

I bought mine out, and elected to keep the ~$2k for the CPO process in my bank account. Only time will tell if it was a bad decision on my part.

But I will say this: BMW charges about $2k (well, more like $1200) for the CPO warranty, and I have to assume they make money off of this....you do the math.

I'll be financing the remaining amount. I heard if the car is CPO'd that the interest rates will be lower. Around 2.99%

Ever heard of that??

[J02 335i]

I know this is off topic but if you have to pay 30K, that would mean that you have payed 60K for a 335i and a possibly 6 years worth of payment and interest, no offense here, but I have never understood why anybody would want to lease?

[RockbendBill]

Will BMW FS even negotiate with you? I just turned in a MB lease, tried to buy it - they wouldn't budge a penny and were so rude about it I said 'you are dead to me'.

[JulieDriving]

Originally Posted by J02 335i

I know this is off topic but if you have to pay 30K, that would mean that you have payed 60K for a 335i and a possibly 6 years worth of payment and interest, no offense here, but I have never understood why anybody would want to lease?

I'm under the impression leases don't intrinsically cost more than financed purchases. As long as:

- you negotiate the price the same way (i.e. amount above invoice - rather than via monthly payments)
- at end of lease, you pay off the residual value of the car in cash (no further financing - which would be the most important thing)

(unless the lease rate was higher than the finance rate)

Not sure why the OP ended up paying as much? (lease cost + residual value, excluding the financing cost - unless he already included interest cost in his buyout amount or something??)

[galahad05]

Originally Posted by blk335i08

I'll be financing the remaining amount. I heard if the car is CPO'd that the interest rates will be lower. Around 2.99%

Ever heard of that??

Sure. But I didn't know you were financing. I paid cash; that makes the most sense (of a fairly insensible thing) when buying out a lease.

[Evil E90]

Originally Posted by blk335i08

So the time has flown by and it’s been almost 3 years since I leased my beautiful black on black 335i. Knock on wood I haven’t had any major problems with the car and am seriously considering buying out the lease.

I read a few threads and have got a little confused on the whole situation…

I had previously read that calling BMW FS you could negotiate the buyout price (in my case 30k). Except when I called, they told me that all negotiations have to done at a dealership. Is this true? Or were they misinformed?

Also since my buyout is 30k and I’ve already invested 30k into the car, obviously I’d like to get the price down as much as possible since the car was only 50k. I’ve read some people have knocked it down close to 26k but how likely is that?

Lastly If I CPO the car am I eligible for the 2.9% interest rates or does this vary by location? And are these rates available for a 72 month term?

Thanks for the help

I leased a 2003 Lexus IS300 and then i purchased the buy. I would never do that again. The reason some people lease is to get a great car with little to nothing down. The payments will pretty much be the same as financing with a hell of a lot more down. Also the amount of miles comes into play. I went 15k miles over my lease amount. Which would of been $2250 at 15 cents a mile. Buying a lease is not a good idea unless you are super hard up and in love with the car or have cash to buy it out. Financing a lease is terrible because you are going to pay another 6 years on top of the 3 years you leased it. You might get the same interest rate as your lease. I did with my IS300 and didn't have to give anything down. The payments were $20 more. I just felt dumb paying another 5 years after leasing for 3. You also have to consider the 30k of stuff you did to the car. In your case a lease buy might be your only choice. You have to take all your goodies off the car when you return it and pray they don't find any traces of the mods. They might make you pay extra for any kind of damage your mods may have caused. I would not try and ask for a 72 month loan. You will not get a lower interest rate. When I purchased my CPO BMW I asked about a 72 month term. If I went that route my interest rate would of been around 6%. At 60 months it was 3.9%.You will have to negotiate with a dealer for a lease buy. Keep in mind it might be difficult since a sales rep will not make any commission off it. They might avoid you like the plague. Someone on here mentioned you put 30k into the car and the buyout is 30k. So in the end you will pay 60k plus interest for 50k car. Keep the car if you truly like it but it will cost you. Good luck what ever you decide.

[lizard1990]

hard to say, you've already started.
my suggestion, get a low price and buy the car. then sale it with a higher price~however, do it fast.

[lizard1990]

Originally Posted by ChasVS

Can't answer all questions specifically, But i do know that you don't have to go back to the Dealer who originated the lease. I've seen posts here by folks who shopped their Buy with various dealers and went with the one who offered the best deal. Check it out.

they have a web you can post your car, but i forget it~
is like leasetrader or something.

[John 070]

Don't buy. Did I see something about 72 mos.? That would mean the cost of the 3 series was stretched out over 10 years, way too long. Better to walk away, and then purchase what you can reasonably afford over 36 mos. Then, 36 mos. from now you own a car. Forget about the notion of "I drove a xxxx car, I can't go back to a yyyy car." That's how leasing cos. nail the lessees into the never ending cycle.