hirev

Anyone have recent experience with a lease buyout at END of term? BMW lease? Can you negotiate or do you just take what the company offers? what happens to the deposit?

vader1

Never leased a car, but everyone always recommends swap-a-lease to find someone to assume your lease terms and let you walk if you wish to do that.

https://www.swapalease.com/exit-leas...08c608fc141a54

ealand0001

mosesbotbol

I have been in this situation several times and going through it right now on my Jag. Generally the lease buyout price is much higher than the trade in value. Most leasing companies like Chase will not negotiate on the price the of the buy out. If you are really hot for the car, you'll need to work with the dealership you bought it from. Many times they'll get a shot at the car before it's picked up. If it's picked up, the dealer may have another shot at buying it or it will go right to auction where you still have another shot at buying it.

All that being said, don't go after a car you leased IMO. The whole point of leasing a car is wash your hands of it and go on to something new. The leases that work on buy out are crafted as such are generally for accounting/taxes when the buyer had planned to buy it out right from day one.

With my Jag, the buy out price was so high, that when we went to trade it in on the next car, the dealer just paid off our lease instead of buying out the car. I have a "free" car until June, but plan to turn it in early in April.

hirev

i talked to bmw, they gave me a good price, will apply 100% of deposit, waive any fees and give an incentive to purchase. if i wait till next month, make my last payment the amount is less and the incentive is more, so i will wait. i am under the impression that my car's value is about what wholesale book would be, so i am ok with that.
i have enjoyed the tax advantages of this lease for three years and now i am rewarding myself at retirement with a gift, the car. it's exactly what i want, i ordered it, and it's in perfect shape, will cared for i know, not abused, with the options and color i wish, so it is a good deal for me. your mileage may vary.

what i want is an unmolested 2016 bmw m3, yas marina blue with black full leather, options of choice, 6 speed manual, 25,000 miles, well cared for and not abused and 100% stock...that's what i am getting. i also get another year of free service, and warranty to 48,000 or one year. i also know what the car needs and how to take care of it, luckily i have a good dealer as well who gives me a bmw every time i bring it in. all i have bought in three years is a set of rear tires. nothing has gone wrong with the car and it has a carbon fiber driveshaft which they no longer put in these cars, there has been no recall....

JonBoy

Nice! Always good to hear when it works out to your satisfaction.

That's a great color for the car and like you said, you know it's been carefully maintained and driven.

sam_spider

It's been a while, but I bought out the lease on my S2000 when the lease was up. The residual on the lease paperwork was what I paid, I didn't bother trying to negotiate. It was painless.

The deposit is the deposit, just like when you buy a car, it's why the lease payment is what it is when you initially sign for the car. Security deposit is different, you'd have to check your lease documents to see if that is applied if you buy at term end.
If you leased through BMW financial they should have the info on their site, otherwise call the bank or dealer you bought it from.

sam_spider

That's because Jag residuals are shit. Not all cars are Jags, and don't depreciate like them. BMW's don't hold their values well, and BMW offers very aggressive lease deals, check the figures on your lease paperwork and see if the numbers make sense, it's fairly straightforward.

mosesbotbol

A friend had a similar story on his 750 that was custom BMW Personal ordered. Every option even if the salesperson said it was waste of money... He leased and got a higher price on buying it out. He bought it with 3 additional years warranty and had a Dinan upgrade done to the car. I can see where he's coming from since the car lacks nothing that one could want. Fast beautiful car the he optioned with an open check book... Price is sinking everyday on a 4 year old 7 series and he's logged over 18K and growing on warranty work since he bought the lease out. He plans to move on within 6 months of the warranty expire.

Even if the buy out was to my favor on the Jag; the need for where this car fits into our lives is a new car only.

hirev

i will bet your friend with the 750 paid extra due to the extended warranty. my buyout is pretty good, not that I care, cause the car is worth more to me and to the marketplace right now. In future, when the new m3 comes out I fully expect the car's value with nose dive some, again no worry to me as I am in love with it...my choice is heart, whereas all car choices i believe are head and heart.

And my jag is all heart, I have a 99 xk8 which needs allot of tlc cause it is 20 years old and was neglected and well the jag design is pretty flawed, not like my 15 year old s2000 with twice the miles on it...but the jag is also a heart choice. I would buy another jag now that I get why folks buy them, and pay to own them. My surprise was to fall for it, it's nothing like my s2000 or my m3 and it has the wrong type of trans, but it's great to drive, look at, and own.

My s2000 is head and heart, do all my own maintenance, and it's perhaps the best car i will ever own..have to sell it to get the m3, no matter.