I tried to find answers for the questions that I am about to ask, but ended up more confused so bare with me please lol as this is my first lease end journey.
I have a 2021 3 series that is due this upcoming June , my residual amount is exactly $28,511 the dealership has sent a few emails trying to obviously get me back in ( I am at 23k miles /36K) the car is in immaculate condition ( except wear and tear on tires which I am thinking I would be on the hook for at lease end easily $1200 of course they are RF) there is a slight chance that there might be some positive equity I am seeing the same vehicle with similar specs CPO listed for 31-32 , this particular vehicle is loaded had an msrp of 50k.
How do I proceed here? I am under the impression that only bmw dealers can buy this lease out due to 3rd party restrictions, I am going to fire up a few emails to nearby dealers and get a quote ( I won’t give the car up until June) .
the local dealer where the car was purchased is offering 2k dealer incentive and 2k lease case from BMWF ( I am seeing brokers here offer pretty much 4k off msrp and I think that is in addition to loyalty and lease cash …
I have no issue just turning the lease in, but I do not want to be on the hook for $1200 , so even if another dealer offers the exact payoff amount I think its to my advantage, from those that have experience is there a chance the dealer can waive those fees? if I jump into another lease something I am willing to consider, I have heard stories of where some would get a bill from BMFS for such charges.
whats the best course of action here considering this situation? another important question, are there restrictions ex this cant be done within the last 60-30 days ? how long do I have? maturity is in June that would be the last payment
Yes, if they offer that. More likely the car is underwater. But can’t hurt to try and find the best offer.
Go to tirerack dot com and price out some tires. You will save money and actually get some utility out of that spend, as opposed to zero benefit from an invoice after returning the car.
If you choose to extend your lease you’ll get even more utility beyond June. Normally they allow two months, or up to 6 if you have a car on order.
Thanks for the reply, I was told by someone they do not offer extensions, I will call Monday and find out, could be another way out to wait 2 months/ might just go via broker here and order if the numbers are better to my advantage . Thanks for this
It’s definitely a max of two months that you can extend without placing an order as max_g stated. Just extended mine. You can do so on the BMWFS website by logging into your account. No phone call needed.
Literally in the same boat as op , same car and similar miles, and autonation is offering 23k. I wouldn’t get my hopes up with a 3rd party option. Equity hacker offered the same.
If you want to save, try going used tire route. I had to replace 3 RF tires for my last BMW return and got it done for about $330 from eBay and a local tire shop to mount.
Thats the route I am going to take, since you turned in a lease recently I am curious as I’ve heard conflicting answers? do all tires have to match or even be a specific brand or its fine as long as they are RF.
I was able to get a set of 3 tires from eBay that matched my OE tires. However, during my inspection, I was told that tires need to be of same load class and speed rating as the OE, but don’t need to match.
Appreciate the reply, so did they end up charging you? I just spoke with someone at bmw and he told me they do need to match , my best bet is to just schedule a pre inspection and go based on what is noted . I’ve also heard curb rash is considered regular wear and tear ( 1 wheel )
Mine did match, I just searched eBay for exact match of tire, found set of 3 for $250 including shipping.
When I was returning the car, I asked the guy doing inspection what he was looking for on tires. He said that besides the tread measurement, they needed to be RF and certain load class and speed rating. I asked if they needed to match, he said no. Obviously, this is just one inspection guy at one dealer, so who knows.
Also keep in mind that any inspection made by the dealer is not necessarily the final word on damages. I had an ‘inspection’ done by the dealer’s Used Car manager who grounded my vehicle. He said there was no excess wear and tear. A few weeks later I get a bill from BMWFS for about $2K in excess wear and tear items. Their inspector flagged the tires, which I had just replaced with used tires with high tread and no feathered edges. After a few minutes of discussion BMWFS agreed to drop the tire charges and I ended up paying for only the things I knew were wrong, like scratches on the bumper. Wheels were curb rashed thanks to my daughter, but I did not have to pay for that.
I have a few scratches that aren’t that visible unless inspected closely on the hood I’ll see if the inspection says anything I can get it buffed out ( I wonder what the charge is for such things) I am assuming the bulk of yours came from the tire cost, I am going to go the used tire route same exact brand, and if they do charge me , I am going to fight it just like you did
