BMW lease buyout and new order

My dealer has offered to buy back my 2021 540xi (that’s also 8000 miles over mileage… ahh covid) for the full lease buyout figure and way above carvana and vroom etc. Crazy. So I’ve ordered the 2022 M550 with some options I didn’t get last year but let’s see if it actually gets built to spec given the parts shortages.

Question… after confirming the car is built (scheduled for second week of July) and before handing over my current car, can I sign the lease paperwork and get approved prior to delivery with everything locked in?

The reason is that last year since I’m on a visa I had issues and had to be put on the “international executive” program and my visa is due to be renewed at the end of this year giving even less runway for BMW FS. I don’t want to hand over my current car without BMW FS being contractually obligated to lease me the new car upon delivery…

I don’t know that you can sign paper work for the new lease. From my experience, the paper work was put together after the car arrived. They did run my credit and initially, then at pickup. My incentives were basically locked in via a an email but I had to send over all of the necessary documents.

How many months remain in your current lease? I wouldn’t want to hand over until approval is completed (Even that can change in the future).

I have 25 months left!! On 36k miles. Never thought I might get rid of the car so soon or that I’d be so over mileage (not too worried given it’s only 23 cents over mileage and I’m already starting to fly again so I’ll drive less over the next two years). It’d be nice to have a new car for ‘free’ but it would purely be a luxury.

You should apply for credit now to determined if you’re approved then hope it doesn’t change by the time of delivery. Another alternative is to try do one transaction, trade then leave with new car.

Sign a buyers order, have the dealer sign it! Your locked in!

That doesn’t guarantee that BMWFS will approve his credit app and finance the lease, and no lender will not provide anyone with guarantees to that effect.

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Doesn’t bmw hold rates for 60-90 days

Yeah you bring up a good point which is very different from a buyers order signed by a dealer. Approval from the lender is the key difference here.

It’s 60 days for most places (90 on west coast) after an approved credit app. Visa situation may make the approval problematic but it’s worth a shot.

Programs are worse so the delta between 540i and 550i payments will be much larger than it used to be.

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Hmmmmm is there a sharp 550 looking for a new home in the Commonwealth of Massachusetts right now?

This is very helpful

As Max said, handles price but not the lease approval.

If you have a relationship with this dealer and they are taking out of the lease through International Executive, have the finance manager talk to their buyer at BMW. They should be able to write-up a deal that says:

  • new build will cost X
  • trade will be worth Y
  • spoke with bmw finance and we will close-out this IE lease and do an IE lease for the new one

They want your car, I have no reason (yet) to doubt them: get it all in writing, on the same signed paper from them.

Got it. Thanks folks, really appreciate it. Will try and negotiate with dealer’s finance department (who did go to negotiate with BMW FS for me last year) once the car actually goes into production - then I know I have a real car to work with.

Some options like the parking assistance package aren’t even listed on the price sheet for MY2022 models due to apparent shortages but the dealer was able to find it in the system. Let’s see if it gets built as it makes no sense to go backwards in features I use all the time.

Btw do we have residuals and MF for 2022 models yet?

You may want to start here and catch up on the BMW specific

For the models that have programs, Edmunds has direct access to it from the captive banks. You’ll want to post in the model specific thread for the vehicle you’re interested in and request the most current numbers for your zip code. It is often easiest to find that thread by searching Google for “Edmunds lease” followed by the model of vehicle you’re interested in.

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