3rd Party BMW Lease Buy Out Dilemma! Please help!

Ask the Hackrs
, , ,
1

Hi everyone,

Would greatly appreciate some help, since I don’t know what I’m doing.

I have my 2020 BMW X4 lease coming up on January 14, 2024, here in Los Angeles, with a payoff of $27,900.

I already got a Tesla so I want to avoid paying a disposition fee ($400) with BMW in a few weeks and the cost of a pretty bad dent in the car (around $1,500) so I’ve been talking to 3rd party company like AutoNation and CarStub.

They are basically offering me $28,000 for the car, and I believe it sounds like there is a 10 day period with BMW to clear the finances?

The used car manager at Autonation is telling me he can get the car paid off in just a few days and BMW also has a 10 day grace period from my January 14th deadline, so I’ll be OK.

I have read some yelp reviews where it takes time for the company to payoff the car.

Do you guys think it’s worth while I take a chance going through a 3rd party lease buyout with these companies?

Any major issues I should be aware of? I’m wondering what happens if they don’t payoff the car in time, because they’re telling me what I want to hear but who knows.

Any advice would be tremendously appreciated! Thank you so much!!

2

If you sell to Autonation it’s not a third party sale. Their BMW franchise will pay off BMWFS.

I wouldn’t sweat it. However, if it’s going to give you anxiety why not sell it a week before the 14th?

1 Like
3

Autonation has BMW dealers so you are fine. Just sell it to them tomorrow and remove the car from your insurance.

4

They will still charge you the dispo fee though - I sold my BMW lease to Autonation as well and was surprised when BMWFS still dinged me for the dispo fee.

5

I just sold one to an Autonation BMW dealer but to their credit they volunteered up that information and said BMWFS would be charging me the disposition fee.

1 Like
6

This topic was automatically closed 60 days after the last reply. New replies are no longer allowed.