[Thecanimal]

My lease ends next month. I want to buy my car. I have talked to a couple of dealers, trying to find one who will sell me my car at a price below my residual, but above their option 1 price( term used elsewhere in these forums). The cpo price is $1,100 over residual, plus a $500 processing fee.
My car is perfect with just 5,000 miles, had its two free oil changes, never been driven in rain/ snow. In fact its never been parked in the sun for more than 1/2 hour, or parked outdoors overnight... Took the dealer 2 minutes to inspect. In fact it was the cleanest car on their property, including showroom examples. Thats why I want to purchase my car.
Anyway, I remember tales of people purchasing their cars way below residual, or buying their cars CPO at about residual, but it seems my local dealers try and fair trade, and act like the CPO is residual + CPO cost = the CPO price.
My question is, are their any known dealers who are competative price wise, any recommended dealers/ salespersons. I will travel to do the deal if worthwhile.
The car is a 2008 335i sedan, Jet black, 5K miles, 3 year 36k mile lease,
options if matters: manual trans/leather/ H.D. radio/ sirious sat./ sport pack./ fold down rear seat back. Residual is $27,890...cpo is residual + $1,100+ $500 processing fee, then sales tax and title fees.
Has anybody in VA. closed a good CPO deal, recently? I would do the .9% finance offer thats currently offered. I do not need the 2 extra years warranty, but is does have some peace of mind value. Car is completely stock, except for coupe wheels, thanks Scottp999, . Any advice, suggested dealers appreciated!

[Thecanimal]

Two weeks and 150 visits...no responses. I guess the stories of buying out end of lease below residual are in fact just that, stories. The one time I could use info.... nothing. Oh, well I do enjoy keeping up with all the upgrades that are possible.

[tdang81]

You have only 5k miles on a car that was residualed for 36k. No wonder the dealer won't sell to you under your residual.

[kgb1637]

People are only able to manage to purchase them below residual when their car warrants it. Your car is worth more than the residual with 5k miles on it, therefore they will sell it to you at the contracted rate.

[wakeboarder109]

Originally Posted by tdang81

You have only 5k miles on a car that was residualed for 36k. No wonder the dealer won't sell to you under your residual.

Yea, unfortunately I think this is the problem. I was in the same situation but started putting miles on my car because it gave me more bargaining power when I bought it off lease. I got about $3k off my resiudal but that was back in march. A lot of the Md dealers were willing to deal. I ended up going with BMW of Annapolis. Ask for Dylan.

[Thecanimal]

I guess it is obvious that my car is worth residual, even at auction, and worth more than residual to the dealer who wants to cpo it and resell. I guess they could be hitting me with a higher cpo price, but then I would just buy it from BMW. I do like the .09% on 2 years. I'll probably just do 1/2 total at the .09%, then the other 1/2 at 2.5% home equity loan. I will call the Dylan at the Annapolis dealership, and see if there is any wiggle romm in the price. Thanks for the tip, thats what I was looking for.

[lopealle]

maybe i will have some room for haggling then. my car is the same year same options w/ 43k on it

[Fzara2000]

dont CPO, buy-out the car (shop some dealerships first for the best price..try not to tell them the mileage..all they really need is a check at lease-end) and extend the warranty to 100k miles at a later point in time.

As an FYI, the dealership also has the potential to waive the last month's lease payment as well. Take a look into that.

[David1]

Originally Posted by Fzara2000

dont CPO, buy-out the car (shop some dealerships first for the best price..try not to tell them the mileage..all they really need is a check at lease-end) and extend the warranty to 100k miles at a later point in time.

As an FYI, the dealership also has the potential to waive the last month's lease payment as well. Take a look into that.

You have to tell them the mileage so the dealer can input it into the system to get the price from BMW. This is not a game of cat and mouse.

[Thecanimal]

Update. Got a call from the dealer where I leased the car. Told them that I had already price shopped, but was still looking to cpo at residual, so I could take advantage of the .09% financing. Ten minutes later, I recieved an e.mail with pretty muchn tose exact numbers. I called back to verify whether the numbers included the last month payment, I was told we could split that, because it was assumed I would finish off the lease..then do the deal. Then I read Fzara 2000's post. Hey, I will split the last, cause I am still getting my mint, perfect 5,000 mile car at residual, with CPO, AND .09% financing. I feel pretty good aboubt the whole deal. Thanks for thye help guys, all well that ends well.

[Thecanimal]

Sorry about the typo's...heavy into happy hour, still should have proofed before sending..in a hurry. Thanks again contributors. All points of view help.