Was just thinking, with how low used inventory is with BMW dealers, they probably want leases returned and the ability to sell them.
I have multiple BMW dealers in my area, do i have to return the car(if i dont buy it out) to a specific dealer or can i ask for a small($500 payment) for me to return my car at dealer B instead of A?
It sounds reasonable in theory if the current value is above the residual, but unless it’s an extremely desirable car I doubt it would go over well.
I would consider returning my BMW early if there was any incentive to, even if it’s just waiving lease-end costs, but I think checking into it would be a waste of time.
No.
The rest is the free market at work. See who offers the most, if anything at all.
Does the dealership really care about the residual? Don’t think so.
To OP - I would shoot my shot, worst case you sound a bit crazy and get turned down. IIRC @Samaudibh was doing something like this for a bit and even advertised it here, so I don’t think it’s completely outlandish.
Or whatever their payoff amount is. Dealers get a price that’s closer to auction if they decide to buy it.
Yep so if their lots are empty then they can and likely will be able to tack on $$$ over whatever their price is and still sell it. Again, I don’t think it’s completely outlandish. My local BMW dealership has maybe 50 cars on their lot, usually they have 500.
You’re overcomplicating this. Get some purchase quotes from a few places and sell it to whomever is highest. Doesn’t have to be a bmw dealer.
I don’t believe BMW has restricted 3rd party buyouts yet, but I’m not sure about any constraints they placed nearing lease end.
You can sell your lease off to anyone who will buy it. Find out your current lease buyout, then get quotes from Carvana, Vroom, ALGo, etc. and compare it to what your buyout it.
Didn’t they stop allowing third-party buyouts?
OP’s idea crossed my mind since I have curb rash on my current vehicle I’m slightly concerned about and wouldn’t mind turning the car in early if I could avoid potential charges. I just don’t think it sounds like a reasonable request. “Hi, can I turn my current BMW in to your dealership? I know the market is hot right now so I’d like to avoid paying for curb rash if I turn it in before I get my factory order.”
No, they didn’t. They’re not giving quotes to third parties but haven’t stopped buyouts at this time.
I think I would personally try OPs idea if I had gotten quotes from everywhere and still was offered below residual. In that case, you know you’re going to be turning the lease in, might as well try to make some $$.
No, they just stopped providing the payoff numbers to the 3rd party directly. Now the lessee is responsible for requesting it.
Isn’t the payoff amount just the residual? I don’t think they’re incentivizing for lessees. The email they sent me with the payoff amount after a lease extension is still within a few hundred of the original amount.
I wouldn’t mind turning my car in early if it meant that I could somehow avoid paying for potential lease-end charges. I’m under mileage and the curb rash may get overlooked anyway. Not looking to make a profit but peace of mind that I’m not about to get a bill would be nice.
Call me crazy but I also wouldn’t mind not having a car for a few weeks — I work from home and my main group of friends will be vacationing out of the country next month anyway. I just don’t see any benefit to this, I think my greatest likelihood of minor damage getting overlooked would be returning the car at the same time that I pick up my new BMW.
It could be or it could be not. Just call and ask them 3rd Party Dealer payoff. Then you have piece of mind.
I am currently extending my lease and the initial thought was if my dealer doesn’t give me a production number to continue extending, i could tell him i will return my lease to his competitor.
That lead me to ask my question i did…how bad do dealers want lease returns?
Have you checked for equity in the vehicle?
on the BMW website it shows a payoff amount of 30,XXX A few weeks back when i was talking to a sales person there they gave me a quote to keep the car of like 27 or 26k(bmwfs was going to give some money off for me to keep it) i was planing to order a new 2 series but am uncertain at the moment.
I think my car is worth 27-30k. its 330i msport manual with 24k miles.
How much will carvana/carmax/etc give for it?
Ask the dealers to give you a purchase offer on your car.
I ended up getting 1500 for returning my BMW lease
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