Hi there, I am currently leasing a 2021 BMW X3M. I owe about 51k on it, but have seen them selling locally in the 58s. I’ve gotten a few offers from Autonation type shops in the 52-53k range. Is there another option for selling at this point? It seems like the Shift/Vrooms of the world are no longer buying out BMW leases so the market is a bit limited.
Anyone have any suggestions for the best route for selling and getting some equity out of the car here? Any help would be much appreciated!
You’ll need to go directly to a BMW dealer - figure out what they’ll give ya. If autonation is giving you 52-53k, they are an option to sell to, but if your payment is good and you have a bit longer on your lease I’d ride it out short term at least.
Would the offers change much from dealer to dealer?
They can.
101010
They can vary significantly. I’m not sure what the goal is but at one point I had offers on one car ranging from 25,000-55,000 and everywhere in between. Did the 25,000 offer just not want the car? Where they looking for an easy pay day? Idk. But it is worth shopping around.
Are you planning to get into another vehicle or just want to cash out any equity?
I doubt they’re gonna give you that much more if the offer is competitive compared to retail but offers can vary wildly in general - I’m not sure what your car is worth in term of equity, but it might be worth riding out to term to wait for fairer seas.
Thanks all. I ended up getting a great offer from Autonation and just took it. Thanks!
Be patient and shop around. Be prepared to take the car for an in person inspection. My lowest offer was $52,xxx and highest offer was $61,xxx, matching $60,xxx. Dealers claimed no one is going to pay $61,xxx and how it’s only to get me into the dealership.
Also when you go to appraise your car, don’t give them your car keys to waste your time! Tell them it’s a digital keg on your phone! And you must come with them to the car.
Check Mercedes dealers and other brands that are in the same auto group that allows them to buyout BMWs.
Why is it bad to give them keys ?
I guess it lets them see the inside more in depth and possibly turn the car on
Some dealers, based on experience took the keys to waste time. They call it taking you off the market.
I’ve left the car open for them to see in depth & also used my phone to start it. When they wished to start it, i placed my phone in the tray to start it.