I’m selling my 2019 BMW i3 that’s nearing the end of a lease. It has the Giga World trim and the Techology and Assistance package (auto cruise control, adaptive headlights, auto wipers, and more!). 15k miles, and is in extremely clean condition. It has great all electric range and is super fun to drive.
Year, Make, Model, and Trim: 2019 BMW i3 Giga World Trim
Location: SF Bay Area
Original MSRP: $51k
Asking price: $33k, but please make me an offer!
Current mileage: 15,400
Vehicle condition (accidents, tire wear, etc.), options, and other details:
Photos posted here: https://www.autotrader.com/cars-for-sale/vehicledetails.xhtml?listingId=654273561
5 years remain on the battery warranty (8 years total)!
1 year remains on the new car warranty (4 years total)
If you are leasing the car, I do not believe you can sell it to a third party. I believe you would have to buy it from BMW, pay sales tax, and get the title before you can sell it. You may then be able to recoup sales tax if you sell it within 10 days of receiving title.
That’s mostly correct, yes. My plan is to buy it from BMW and get the title in hand before selling it. In CA, if sold within 10 days of receiving title to a third party, the initial transfer from lessor to lessee is a non-taxable event, sales and use tax is only paid by the final third-party purchaser. (https://www.cdtfa.ca.gov/formspubs/pub34.pdf)
It’s the BEV with the 120Ah battery, so about 150-160 mi range.
Is it easier now to capture some equity on my i3 rex? I may have little equity but last I checked BMW did not allow same price for third party buyout.
OP explained how this can work for him in the second post, it’s one of the few times where California has a law that actually makes sense.
That means it is a headache to deal with. “Sell within 10 days of receiving title”
What about BMW dealers or other large dealers these days?
The biggest hurdle to the purchase–>sale is you need to front the cash to buyout the lease from BMW FS. The buyout price isn’t negotiable with BMWFS, but BMW dealers might be be willing to capture some of that equity if you’re rolling it into a new purchase or lease in a normal market, but in world of 5-15k MSRP markups, I don’t know where that stands.
anyone wanna lease trade there beamer??