19 530e Extend Lease - Buyoff - Sell it or Alternative

[SLR]

Need your advice on what might be the best option
I have a 19 BMW 530e that will mature on April 22 with a current payment of $580/month after tax. I got a couple of offers from a used car place…from 38500 - 36794 and my payoff is $35100. So regardless I am making $ from the car. Sure enough, there are insufficient cars on the market so if I take over a new lease the monthly payment will be significantly higher than my current monthly payment plus expensive drive-off. I am open to monthly payments between $680-$750 after tax.

What are some of my best options now?
Will it be a smarter financial decision just to ask BMW to extend my current lease or should I sell it to capture the great used car rate for a new lease?
For lease a new vehicle, I am only considering Audi/BMW/Mercedes/Volvo that have a similar size of a 5 or SUV size that is larger than X3/Q3

P.S - no Tesla or full EV due to current house panel design…

Thank you for all your recommendation

[RayMo1]

Best option is likely to extend your current lease. Even after netting 3k, a new car in this market will cost you more over the term of a lease.

[buster11xx]

BMW no longer allows 3rd party buyouts. You cannot sell to the typical 3rd party dealers. Only a BMW dealer or group associated with BMW.

[joelk01]

I’m in the same boat with a 2019 530e with a lease expiration in April. I got an exec demo with 2k miles with almost every option. I am 10K miles under my lease allotment. My payment is $533, so there is no way I can get a similar car close to that price now. The resid/buyout is higher than the market value so a buyout doesnt make sense. I think I should extend my lease as much as I can (as long as the car remains under warranty). What are the parameters around extending BMW leases? How long can a BMW lease be extended? Thanks

[SLR]

that sucks…not sure why they are still able to offer the lease. might be they have some BMW dealership with connection but i guess extending the lease will be the best choice.

[jeisensc]

@SLR

I got a couple of offers from a used car place…from 38500 - 36794 and my payoff is $35100

Only if you buy it and resell it

California 10 day tax exempt For lease buyout

Hi I have looked thoroughly here and this topic has not been discussed. In CA, you are allowed to payoff your leased car in order to resell it without paying taxes on the payoff IF you can sell it back and to a third party which would need to register the car within ten days of the original leasee recieving the title form the lessor company. BUT YOU HAVE TO MAKE SURE THE CAR IS TRANSFERED TO THE NEW ONWER WITHIN 10 days. Now is the tricky part. What if I payoff the car and sell it to s deal…

Do you have quotes from the car buying services that accept Lessor Released Titles? That tells you your hypothetical equity to negotiate with a BMW dealer.

You can extend your current lease up to 2 months without placing a factory order with BMW, I believe if you are waiting in an order you can extend up to 6 months.

Search the forums here: this question and every variation has been asked/answered in the past few months, you need to determine what is replacing the 530e first, and fast.

[SLR]

haha…I feel like there is no option after all…but yes, I guess I will sell to mycarauction and go with something that have deal instead of what I like