So in summary, the lease end process really grants no benefit to me at all?
It ends your lease and you’re not stuck with $8k of negative equity in a car with an accident on record. I’m not sure what other benefit you’re looking for.
1 Like
I’m speaking in terms of lining up something to drive after the lease is over. I’ll need a car after I turn this one in, obviously. I was hoping there was some benefit at one car’s lease end that would help me roll into the next lease with money saved. It seems there isn’t any benefit in that sense.
Well, you get BMW loyalty now, which can be worth several thousands, along with generally waiving disposition fees and such if you get another bmw.
Also if you lease another Bmw you don’t have to pay the 350 fee, so that’s a good thing too.
Based on what I have read on this site, you also may get a small amount of money for the unused mileage if you go into another BMW.
That’s a trivial amount tho
1 Like
It would be MAX 300 bucks…
Unused Mileage Credit
BMW will offer a mileage credit in certain circumstances if you are under your contractual mileage. The credit should be added to your FS account upon leasing a new vehicle.
Percent of Contractual Miles not Utilized
10%-14.9%
15%-24.9%
25%-100%
Credit Offered for Unused Mileage
$200
$250
$300
You will probably have a better chance at hitting the lotto than negotiating a buyout.
I literally said “small amount of money.”
1 Like
That’s a bummer. I am somewhat partial to the car, it’ll be a shame to bring it in.
to be fair, “small amount of money” could mean 1500 bucks to someone. Peanuts would have been a better term to use.
Using your same argument, “trivial” or “peanuts” could also be $1,500 to someone. Everything is relative.
1 Like
Lol yeah I agree. Peanuts retail for 0.210 a pound currently. Would’ve made the most sense to give me the expected value in weight of peanuts I could acquire. In this case, I’d be walking out of the dealer with an effective 1,428.57 pounds of peanuts.
It sounds like you came on here to get someone to tell you it was ok to buy the car out. I believe everyone has pretty much indicated dropping the keys off was the better answer.
That said, it’s your money. If you’re happy with the car and willing to drive it for another 100,000 miles, buy it. Sure, it may cost you a little more than buying a similar used one on the lot somewhere, but at the end of the day, if you like this car, and know its history, who cares if it costs you a few more bucks in the long run.
Personally, I wouldn’t do it. But I, nor anyone else here, is spending your money. Ultimately, you have to decide what is best for you.
No, I started the inquiry so that I could find out if it would be financially irresponsible for me to buy out the car, which it seems is the case.
Ok, fair enough, and I misinterpreted all of the various angles you’re looking at to try and keep it, while mentioning a few times how much you like it.
2 Likes
To be fair, I secretly wish it wasn’t such a clear cut argument against keeping the car. It’s a total bummer that this thing lost so much value, it’s fun as hell to drive! I’m glad I won’t make the mistake of buying it out though, ya know.
I guess I’ll start doing some homework on an M4 lease 