2019 BMW X1 buyout

Ask the Hackrs Buy/Finance
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1

Hello! Last I was here was helping a friend lease an X1. She got one and is way below mileage - 8300 miles! Her lease is going to end in September. The dealership gave her a few financing options, but I’m not sure if they’re tacking on extra charges.

Her lease agreement’s buyout amount = 23,007

Dealership market value selling price = 23,779 (are they tacking on an extra $770?)
Tax = 1640
Non Tax Fees = 357
Balance = 25,777

Then they have various payment options, with an estimated interest rate of 5.99%, but I’m calculating those to be an effective rate of 6.32%. Not surprising those being off, but is that a good rate for great credit?

I really appreciate your thoughts on this!

2

Go to the bmwfs portal and see if this can be bought out directly. No need to involve a dealer if it isnt required.

3

Thanks! I’ll ask her to check out BMWFS. If she’s currently making payment through that portal, might be a quick process.

This thread mentioned NC resident to go through dealer.

4

Those interest rates are crazy , try a credit union.

5

All the dealers in NC are signing from the same prayer book. I found a dealer in the NE, where doc fees are capped. I am submitting the wires today, hopefully all goes as planned. Give me until Thursday to confirm the paperwork went through. I’ll ask the dealer if it’s okay to share their information.

Tony