Lease buyout ?

73Bavaria · 04-18-2023, 11:16 AM

Hello friends

Anyone care to share lease buyout experiences with BMWFinance/ and or dealer !

‘21 X1 coming due soon (Oct) for ~ $24.5K. <30K miles…

Seems like a no brainer with another year of coverage, or perhaps use the equity towards new ??

Appreciate any and all insights from fellow BMW drivers

Thank you

BMWCCA1 · 04-19-2023, 09:05 AM

Better check the market value of your '21 since the 2023 model will severely depress them once its supply catches up with demand.

DocL · 04-19-2023, 09:10 AM

Really easy. Get your own financing and then let your local dealer do the sale to you. I bought M3 at the end of the lease and the dealer paid my last month lease payment, and they only charged me the tax and titling fee. No other bullshit dealer fees. They actually came to my house for me to sign the papers and give me the new registration papers.

Westside Guy · 04-19-2023, 09:30 AM

Quote:

Originally Posted by DocL

Really easy. Get your own financing and then let your local dealer do the sale to you. I bought M3 at the end of the lease and the dealer paid my last month lease payment, and they only charged me the tax and titling fee. No other bullshit dealer fees. They actually came to my house for me to sign the papers and give me the new registration papers.

Out of curiosity, which dealer did this for you?

DocL · 04-19-2023, 10:48 AM

Quote:

Originally Posted by Westside Guy

Out of curiosity, which dealer did this for you?

Coggin. Carlos is the best sales person I have worked with. My friend referred me to him. He also leased my parents a car and he drove it to their house and did all the paperwork there.

sikotic · 04-19-2023, 03:27 PM

I bought out my lease end of January, it was a pretty smooth experience.

Took the car into the dealership, they CPO'd the car and then sold it back to me. I paid residual + tax + $200 for the CPO. Process took maybe 3-4 hours

If anyone tries to give you trouble just go somewhere else

BobsM3Coupe · 04-19-2023, 09:26 PM

Quote:

Originally Posted by sikotic

I bought out my lease end of January, it was a pretty smooth experience.

Took the car into the dealership, they CPO'd the car and then sold it back to me. I paid residual + tax + $200 for the CPO. Process took maybe 3-4 hours

If anyone tries to give you trouble just go somewhere else

Are you in Canada or California?

sikotic · 04-19-2023, 09:27 PM

Quote:

Originally Posted by BobsM3Coupe

Are you in Canada or California?

California

BobsM3Coupe · 04-20-2023, 01:24 AM

Sounds like a great transaction. With the CPO, how long is the warranty?

Germanauto · 04-20-2023, 02:12 AM

Any credit unions ya'll recommend given these shit rate times we're in.

I'm also in Cali

Prince Thundernight · 04-20-2023, 09:44 AM

Quote:

Originally Posted by Germanauto

Any credit unions ya'll recommend given these shit rate times we're in.

I'm also in Cali

Bought out my current lease with Consumers Credit Union. 4.94 APR

73Bavaria · 04-21-2023, 12:10 PM

Quote:

Originally Posted by sikotic

I bought out my lease end of January, it was a pretty smooth experience.

Took the car into the dealership, they CPO'd the car and then sold it back to me. I paid residual + tax + $200 for the CPO. Process took maybe 3-4 hours

If anyone tries to give you trouble just go somewhere else

That sounds fair to me , did they extend the factory warranty the additional year and unlimited miles ?

04-18-2023, 11:16 AM	#1
73Bavaria New Member 10 Rep 17 Posts Drives: 2018 “320xi”2021 X1 Join Date: Sep 2020 Location: MA iTrader: (0)	Lease buyout ? Hello friends Anyone care to share lease buyout experiences with BMWFinance/ and or dealer ! ‘21 X1 coming due soon (Oct) for ~ $24.5K. <30K miles… Seems like a no brainer with another year of coverage, or perhaps use the equity towards new ?? Appreciate any and all insights from fellow BMW drivers Thank you
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04-19-2023, 09:05 AM	#2
BMWCCA1 BMW Owner Since 1971 2532 Rep 1,525 Posts Drives: 1964 700 Sport Cabriolet Join Date: Apr 2014 Location: Central Virginia iTrader: (2) Garage List 2013 BMW 128i [10.00]	Better check the market value of your '21 since the 2023 model will severely depress them once its supply catches up with demand.
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04-19-2023, 09:10 AM	#3
DocL Captain 2115 Rep 951 Posts Drives: 2018 M3 Comp 6spd Join Date: Jan 2019 Location: Delray Beach iTrader: (2)	Really easy. Get your own financing and then let your local dealer do the sale to you. I bought M3 at the end of the lease and the dealer paid my last month lease payment, and they only charged me the tax and titling fee. No other bullshit dealer fees. They actually came to my house for me to sign the papers and give me the new registration papers. __________________ 2018 F80 M3. YMB/BLK. ZCP. Three Pedals. "Education will never be as expensive as ignorance."
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04-19-2023, 03:27 PM	#6
sikotic Captain 612 Rep 633 Posts Drives: 2020 M340I Join Date: Jul 2016 Location: Ca iTrader: (0)	I bought out my lease end of January, it was a pretty smooth experience. Took the car into the dealership, they CPO'd the car and then sold it back to me. I paid residual + tax + $200 for the CPO. Process took maybe 3-4 hours If anyone tries to give you trouble just go somewhere else
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04-20-2023, 01:24 AM	#9
BobsM3Coupe Brigadier General 1560 Rep 4,034 Posts Drives: X5MC Join Date: Nov 2009 Location: California iTrader: (4)	Sounds like a great transaction. With the CPO, how long is the warranty?
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04-20-2023, 02:12 AM	#10
Germanauto Major General 9847 Rep 6,146 Posts Drives: Alfa Romeo Giulia, Rosso Join Date: Jul 2016 Location: LA iTrader: (0)	Any credit unions ya'll recommend given these shit rate times we're in. I'm also in Cali __________________ Former -2008 E90 328 black/brown -2012 Lexus IS250 black/black
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