reli_3
August 12, 2023, 9:41pm
1
Year, Make, Model, and Trim: 2023 M3 Competition
MSRP: 100,995.00
Current mileage: 4,542
MSD due (if any): N/A
Financial institution: BMW Financial Services
Vehicle condition (accidents, tire wear, etc.), options, and other details:
Photos:
3 Likes
Car looks beautiful, if you have any pics of Dravit in direct sunlight, you should post them, because it pops like CRAZY!
3 Likes
What is your current buyout?
I had the same question and my guesstimate is:
56% RV on 36/10k leases done in Dec22/Jan23:
56,557
29 remaining payments:
47,009
Buyout ~103,566 + tax/reg/etc
Yikes. 8-9 months into the lease and your buyout is more than MSRP? I guess you rolled all the upfront costs into the payments?
Its not my car Im not the OP I was just my guesstimate bc I was also curious.
Btw this doesn’t necessarily mean OP rolled anything in. Lease programs on M cars have had very high MF for a while. Unless your paying cash for a car with todays rates, financing or lease to buyout will absolutely end significantly over msrp.
Edit:
Program back then was .00185 MF (base) and 56% residual fwiw.
Even with a high MF, you cannot have a buyout greater than MSRP unless you roll other costs into the lease.
I’ll wait for OP to provide the actual answers. Thanks.
1 Like
Of course you can. Its called interest.
Edit - I stand corrected.
You don’t pay unearned interest when you buy out a BMW lease early.
1 Like
reli_3
August 13, 2023, 10:35am
12
Current buyout is 95,836
1 Like
Learned something new, thats pretty cool. Is this specific to BMW FS or do any other lessors do the same?
1 Like
I honestly can’t speak to that, I’m only confident in what BMW does, pretty sure they’re all like this.
For educational purposes, here is a what a payoff looks like 2 months into a BMW lease:
The “Unearned Amount” is them deducting the rest of the interest.
1 Like
GOAT
August 13, 2023, 4:45pm
16
AFAIK no bank keeps unpaid interest, it would be like having to pay 30 years of mortgage interest even if you payoff after 5.
9 Likes
