07 328i lease buyback price offered by dealer, is this good?

faz · 07-23-2010, 04:30 PM

Hi everyone,

I have one more month left off of our 3 yr/ 36k mile lease on 07 328i.

The car is base 328i sedan, sparkling graphite, 32k miles, auto, navigation, xenon, comfort access. It does NOT have sport or premium.

The car is in great condition (always garaged, etc.) and I generally like the car very much.

Buyback was set at $24.4k, but after talking with my contact at my dealer, he is telling me that they can sell the car to me for $22k (including the last payment that I still need to make, so basically 21.5k buyback price.) This is basically the trade in price that Edmunds gives me for my car for 'Excellent' condition.

I can get 3.75% financing from my credit union so I don't need to CPO the car to finance it at a lower rate.

The deal *kinda* looks good to me, especially since I know the history of the car and have babied it since new... so I don't mind spending $1k or so more than buying a comparable one that I don't know anything about.

I have another 5-6 weeks left but I am not sure if things may get worse or better by then.

What do you guys think? Any feedback is appreciated.

If it doesn't look like a good deal, do you have any hook ups in any BMW dealerships in SF bay area that you think can help me get a better deal?

Thanks.

David 12 · 07-23-2010, 07:55 PM

Fairly low miles, well taken care of and you like the car - The price looks good too. If it was a 335i I would say no due to expense of repairs. Are you getting CPO status?

I like to always have a car under warranty. My .02? If you can't get a smokin' hot deal on a new BMW, I would say to keep your car.

Dave

Former car: 2007 335i coupe JB3

faz · 07-24-2010, 02:27 AM

thanks for the feedback Dave, I appreciate it.

I think it is a good deal too, given the turn around the market seems to have had in the last few months. I remember in Oct time, I was seeing many cars with more options advertised at lower than my payoff amount. Now, checking local listings, it seems like this would be a good deal, given I know (I am) the history of the car.

I just want to see what other thinks too, you know, two heads better than one, etc.

thanks again for your feedback.

faz · 07-28-2010, 05:50 PM

Just an update, for others that might be in the same scenario. I worked out a deal with a local dealer and bought my car back yesterday for $21.5k (including one last payment that I still owed), so basically paid $21k instead of my contract buyback price of $24.4k.

Hope this helps others here.

1bonna · 08-05-2010, 12:02 PM

Faz, did you purchase and sell the car at the same dealership? I am in the same bind right now thinking as to what my options are. Can I go to a different dealership? Or can I negotiate with BMWFS?

faz · 08-06-2010, 03:42 PM

BMWFS does not negotiate anymore, to the best of my knowledge. A friend of mine got a call directly from BMWFS a year or two ago, when his 5 series lease was up, and was given a $3k discount to buy it back and he went for it. I wish this was the case now with me, as it would have saved me some hassle, but BMWFS was not at all interested in talking and simply told me to go to the dealer and discuss the terms there.

I called my contact in the original dealership that leased me the car, and he came back with $22k purchase price. I simply called another dealer closer by, the one that I take my car to for maintenance, etc., and they called me back with $21k. No ands/ifs/buts.

They basically terminated my lease (as if I have returned the car), did the smog/safety check, and sold me the car back at $21.5k.

Just go to a couple of dealerships and ask what they can do for you. Actually, don't even go to them. Just call and have a sales guy call you back. Also, do not make my mistake of telling one what the other one has offered to do for you. You are simply giving them the option to play with the numbers since they know the other dealer's price. (they may not give you their lowest price... just something lower than the other one gave you.)

Hope this helps.

07-23-2010, 04:30 PM	#1
faz Second Lieutenant 22 Rep 287 Posts Drives: 2023 X5 x40i, 2018 330i F30 Join Date: Sep 2007 Location: Bay area, CA iTrader: (0)	07 328i lease buyback price offered by dealer, is this good? Hi everyone, I have one more month left off of our 3 yr/ 36k mile lease on 07 328i. The car is base 328i sedan, sparkling graphite, 32k miles, auto, navigation, xenon, comfort access. It does NOT have sport or premium. The car is in great condition (always garaged, etc.) and I generally like the car very much. Buyback was set at $24.4k, but after talking with my contact at my dealer, he is telling me that they can sell the car to me for $22k (including the last payment that I still need to make, so basically 21.5k buyback price.) This is basically the trade in price that Edmunds gives me for my car for 'Excellent' condition. I can get 3.75% financing from my credit union so I don't need to CPO the car to finance it at a lower rate. The deal kinda looks good to me, especially since I know the history of the car and have babied it since new... so I don't mind spending $1k or so more than buying a comparable one that I don't know anything about. I have another 5-6 weeks left but I am not sure if things may get worse or better by then. What do you guys think? Any feedback is appreciated. If it doesn't look like a good deal, do you have any hook ups in any BMW dealerships in SF bay area that you think can help me get a better deal? Thanks.
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07-23-2010, 07:55 PM	#2
David 12 Major 115 Rep 1,048 Posts Drives: 2019 BMW X5 50i BSM, M Sport Join Date: Jan 2007 Location: Omaha iTrader: (0)	Fairly low miles, well taken care of and you like the car - The price looks good too. If it was a 335i I would say no due to expense of repairs. Are you getting CPO status? I like to always have a car under warranty. My .02? If you can't get a smokin' hot deal on a new BMW, I would say to keep your car. Dave Former car: 2007 335i coupe JB3
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07-24-2010, 02:27 AM	#3
faz Second Lieutenant 22 Rep 287 Posts Drives: 2023 X5 x40i, 2018 330i F30 Join Date: Sep 2007 Location: Bay area, CA iTrader: (0)	thanks for the feedback Dave, I appreciate it. I think it is a good deal too, given the turn around the market seems to have had in the last few months. I remember in Oct time, I was seeing many cars with more options advertised at lower than my payoff amount. Now, checking local listings, it seems like this would be a good deal, given I know (I am) the history of the car. I just want to see what other thinks too, you know, two heads better than one, etc. thanks again for your feedback.
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07-28-2010, 05:50 PM	#4
faz Second Lieutenant 22 Rep 287 Posts Drives: 2023 X5 x40i, 2018 330i F30 Join Date: Sep 2007 Location: Bay area, CA iTrader: (0)	Just an update, for others that might be in the same scenario. I worked out a deal with a local dealer and bought my car back yesterday for $21.5k (including one last payment that I still owed), so basically paid $21k instead of my contract buyback price of $24.4k. Hope this helps others here.
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08-05-2010, 12:02 PM	#5
1bonna First Lieutenant 9 Rep 333 Posts Drives: 135 Join Date: Sep 2008 Location: So Cal iTrader: (0)	Faz, did you purchase and sell the car at the same dealership? I am in the same bind right now thinking as to what my options are. Can I go to a different dealership? Or can I negotiate with BMWFS? __________________ "Never try to be the wind, learn how to ride the wind"
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08-06-2010, 03:42 PM	#6
faz Second Lieutenant 22 Rep 287 Posts Drives: 2023 X5 x40i, 2018 330i F30 Join Date: Sep 2007 Location: Bay area, CA iTrader: (0)	BMWFS does not negotiate anymore, to the best of my knowledge. A friend of mine got a call directly from BMWFS a year or two ago, when his 5 series lease was up, and was given a $3k discount to buy it back and he went for it. I wish this was the case now with me, as it would have saved me some hassle, but BMWFS was not at all interested in talking and simply told me to go to the dealer and discuss the terms there. I called my contact in the original dealership that leased me the car, and he came back with $22k purchase price. I simply called another dealer closer by, the one that I take my car to for maintenance, etc., and they called me back with $21k. No ands/ifs/buts. They basically terminated my lease (as if I have returned the car), did the smog/safety check, and sold me the car back at $21.5k. Just go to a couple of dealerships and ask what they can do for you. Actually, don't even go to them. Just call and have a sales guy call you back. Also, do not make my mistake of telling one what the other one has offered to do for you. You are simply giving them the option to play with the numbers since they know the other dealer's price. (they may not give you their lowest price... just something lower than the other one gave you.) Hope this helps.
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