I’m looking to buyout my first lease and was hoping I can get some input on this.
I requested the payoff documents from BMW FS and was given the total payoff amount at $41,426.90. However, when I contacted my dealership for the actual purchase, they quoted me for $43,134.07 since they’ve added $500 for stock fee, $499 for document prep fee. I understand the remaining payments for license/title, Tire fee but is it standard to charge $1,000 for document and stock fees?
BMWFS has been a bit finicky lately in requiring some to buyout their lease through a dealer even when not required by law. See the below thread for discussion and a potential workaround…
It varies from state to state. What we uncovered recently is that dealers are being compensated by BMWFS to complete the transaction. I would recommend you reach out to Jim and tell him Mike Iadanza referred you. Good Luck…
Jim Hodges
General Sales Manager
Crown BMW
3902 W. Wendover Ave.
Greensboro, NC 27407
Phone: 336 663 0442 JHODGES1@CROWNAUTO.COM