How’s it going fellas question My BMW is coming to an end on lease June 2024. should I sell to BMW or wait for inspection and just return it.First time leasing so could be a dumb question. Thanks
You will be contacted by BMW with a lease end guide. It will show you all the allowable wear and tear and in what condition the vehicle will need to be returned to avoid charges. You can then schedule a lease end inspection at your home or wherever is convenient. I highly suggest you don’t skip this step.
If you think you have equity, you can try to sell to a service that does lease buyouts, but BMW does not allow third-party buyouts, so you’d have to essentially purchase it yourself and then sell to one of those entities.
Your lease end value (residual) is already set, so you can request the payoff amount at any time. It will include any payments you have not made on the lease, plus any taxes or other fees.
If you decide to return the vehicle, you can usually return it to any BMW dealer. Just make sure to give them a call ahead of time to make sure it’s ok to drop off your car. They will do a quick walkaround, check the mileage, and have you sign an odometer statement. Then you will take the plates and any personal effects.
They will contact you shortly after to let you know if anything is owed. If there is no excessive wear, you will just be responsible for the lease end fee you agreed to in your contract.
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Well, it’s kinda hard to say without knowing more details like how much equity you have (or don’t have).
If you have equity, then it would be stupid to just turn it in. If you don’t have any equity, then turning it in is probably a good bet, although that can depend on what you want to get next.
Another option is to sell it to a non bmw dealer that may have a bmw dealer in their group (ie AutoNation)
Look to see what your model is selling for locally versus what your buyout (including other remaining lease payments is minus sales tax) . This should give you an idea of they’re is any equity in your vehicle
You can view this from BMWFS’s website
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That’s like 7 months away
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Are you going to switch to public transportation? What’s the future plan here?
Figure out which option costs you the least. Do that one.
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BMW x4m or x6. Maybe x6m if I can get a sweet deal
I turned in a X3M and M3 early and got substantial equity out of both from the BMW dealer.
Was this recent?
The X3M was October 22 and the M3 was Sept 23. Friend of mine just turned in his M4 a year early last week and they cut him a large check.
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I haven’t seen any sweet BMW deals for years now but you can check Autonation, Driveway and other BMW dealer owners to find out if you have any equity with your current car.
Hello new user here. I have a '22 530 that the lease will be ending December of this year. Is there a way at this time to determine if at lease’s end I will have any residual value? I want to look at leasing again a new 530 or 440. I’m in Wesley Chapel, FL. I’m trying to navigate here if there will be any deals outside what the local BMW dealership would offer. Thank you.
It’s a 5 series, aside from the shortages they’ve almost always came back negative equity so I would plan on just turning it in and picking up another.
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Way too early to discuss what’s best in December
If you get another BMW at the time of turn in the disposition fee is waived usually right?
Thanks for the input. Perhaps I’ll start looking closer to October. I think BMW should give me some sort of incentive to lease another car with them.
I’m also looking at a mustang or supra too.
If you like your current vehicle and lease; you can extend lease with BMFS for 2 more months. You can get an additional 6 months if you get into another BMW.
BMW has loyalty incentive
