Hi,
I leased 2019 BMW 330I in Feb 2020. I have done till now only 11000 miles on my car, as I was not able to drive the car much due to Covid. Now my lease is ending on Feb 22. It was a two year lease term.
As there are low miles on car, I am thinking of buying out the car. My buying out value is approx $31000. Should I go ahead with it? Is it a good deal? Can I negotiate on the same?
Also, I have a chip on my windshield. Will it create any problem? As dealership will buy the car from BMW and sell back to me, will they replace windshield before selling back to me?
I am new here, don’t know much about the processes, so I will really appreciate everyone’s help.
The dealer isn’t selling it to you… you are exercising your option to purchase the car from BMW financial. Up to you if you want to get it fixed but likely can be addressed without getting a new windshield if it’s as small as you are saying.
Dont get a dealer involved as they will make it complex or try to get some money out of you when you only have to work with BMWF.
Go to your online portal, and get a payoff statement from BMWFS. It will have clear directions and you can fund the purchase however you choose. Do not need to involve any dealer. This will be between you and BMWFS. You are basically exercising your right to purchase the car as-is, and no one is fixing anything.
Singh: Hi BMW I would like to Negotiate the buyout.
BMW : Ok well we will give you market rate , how about that.
Singh: Great
BMW : We will send you a new payoff letter.
Payoff letter arrives and the buyout price goes UP 30%.
In your payoff letter and in your online portal, BMWFS clearly states they will not negotiate the buyout amount.
In the last 2+ years, if anyone received a reduced buyout amount, it came unsolicited and typically 3+ months before lease end (probably for heavily underwater vehicles). Since then, no one has reported any success getting any reduction and as everyone knows, there’s no need to negotiate on their part.
If your glass is chipped call your insurance company. If you have glass coverage (which you should add if you don’t) you can get a free fill or replacement. I am waiting on OEM glass because I just replaced my X5 windshield and the safelite glass or installation didn’t fit correctly, so they need to do it again.