Not sure if that answers your questions, but we are seeing a higher number of lease buyouts than usual by about 20%. Typically the only reasons to buy a lease out are 1) you absolutely LOVE your car and can’t get another one (we see a lot of 4er Gran Coupe buyouts lately), or 2) you don’t want to get the same model used car that you don’t know the history on, 3) your car has equity which can likely be the case right now with market conditions. However, because residuals are usually set high to keep lease payments competitive, they don’t want to make dealers buy cars at market loss. Dealers get a payoff that is not based on residual, but rather the market / Manheim auction value.īMW FS provides different values because when you lease a car, the residual is technically the value at the end of the lease. To clarify, since my first answer was kinda vague… At the end of a BMW lease, the customer payoff would be the residual and occasionally discounted “X” amount for market value. That would be referred to as the “total buyout.” A non-BMW dealer would get the same payoff as you would. Taxes and DMV items are not included in a payoff. This is the first time ive ever considered a buyout and i just wanna make sure it makes sense and im thinking about this the right way. Will BMW sell me my current X2 for $24,017 now or is that the price that is only valid 3 months from now?īy the time the lease ends i will probably have accumulated excess milage in the realm of 8k (thats a few thousand dollars in excess mileage, which i was originally fine eating, but turns out i may have found a solution… see below).Īm i right in think that that if i buyout the car now for $24,017 sell to Car Max for $24,600 i can avoid anything related to wear and tear/tires/mileage overage and call it a day? And with the excess 600 i can cover almost 2 months of payments. Availability of finance credit is subject to dealer participation and to eligible, qualified customers with excellent credit history who meet BMW Financial Services NA, LLC credit requirements.
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The lease buyout according to my contract is $24,017 once i factor in the 7% tax, but the lease doesnt expire till August 31. Up to 500 off all model year 2017 BMW Certified 5 Series models when financing through BMW Financial Services NA, LLC. Monthly payments for my current X2 are $380 a month.
I currently have an offer from Car Max for $24,600 based on my current mileage and trim. I found a decent deal on a new (non BMW) lease and am thinking of ending this X2 lease 3 payments early (still need to pay June, July and August). My current X2 lease is nearing its end (3 more payments left). Further information can be found in BMW’s Privacy Policy.Hello Everyone, i am looking for some advice from some folks on here who understand this stuff better than i do (i hope this is not a dumb question). This may include data you have provided to these companies, or which is generated by your use of BMW or MINI products, for example contact details, preferences, customer history, vehicle data, app usage and online behaviour.
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