What has been your highest offer from 3rd party buyers?
I’m still a little confused - it’s a lease, right? So you can simply trade it in when the i4 arrives, and that’ll even waive your disposition fee. What’s the reasoning behind wanting to buy it out at all, unless you want to keep it? Do you even have positive equity? Even in this nutty market, many leased BMWs don’t due to their inflated residuals.
$ 45, 000 online
What is your current payoff after taxes? You might not have much equity in it.
I don’t follow your logic. Why would you pay sales tax now to save on sales tax when you trade your car towards an I4? If there is no equity in your 340i now it’s very unlikely that your car will gain value 6 months from today.
Is that $45000 an actual offer to buy (Carvana, Vroom, etc) or just a KBB value? Are you able to sell the car today if you got the right price or do you need it until your new car comes in? If you still need the car - why not wait until you’re ~30 days out and then see what car is worth then? In this market a lot could change in 5-6 months.
$45k real cash offer,. But bmw won’t allow me to sell to anyone except dealer.
I won’t just drop it off at dealer when lease ends, I want to get some cash, if I wanted to buy a M340 similar to mine in options and mileage, I’d have to pay over $50k.
There is equity now, but BMW dealers won’t pay it, others will.
the end goal is to obtain some benefit from cars equity, in order to do so I have to own it or trade it in at a BMW dealer. BMW dealer won’t pay anything over BMW financial pay off, they realize 100% of the equity, I want some of it.
Are you trying to sell your car now or not until your new car arrives in Oct?
If you’re trying to sell now, then shop it with other BMW dealers.
But if you’re not trying to sell until your new i4 comes in then it doesn’t make sense to do anything now.
Care to answer? It will help determine whether you have any equity.
$45,000 - current payoff with taxes = Equity.
I can do the math, but I want to keep the car until I4 arrives, is not looking good, may be end of year.
I will wait until I have a better idea when I4 May come in
I’m out. Good luck selling the M340i
Thank you all for your responses
Can you please mention your buyout today?
And also the residual at the end of lease.
People will be able to help/advice you better.
Buy out today (good until May 10) $ 42,073 w/o tax, and $ 44,597 w/tax
Residual in 4 months $ 39,235 w/o tax, $ 41,589 w/tax
BMW Dealer where I ordered I4 offered $ 43,500, another online place offered $45,000 without seeing the car.
KBB says Trade In value $ 48, 229, private party sale $ 54,353
How hard is it these days to sell it by owner, I could buy it, pay sales tax and be at $44,597, sell it for $49,900 ? are people buying used cars from private sellers?
Sell by owner has never changed really.
There are ups and downs and dealing with $50k in CASH can add a little bit of danger.
That’s why people like selling to the dealers, no danger in there.
And why would someone pay you $49k when Carvana is selling it for the same price?
I know selling by owner is a PITA, but it doesn’t have to be cash, a person can finance with their bank or credit union and get a check or direct deposit, etc. As to why would someone buy from a private seller vs carvana? why not? I probably rather buy from the original owner that has kept the car in a garage than from a used car lot. The thing is I do not want to deal with placing ads and showing the car, etc etc.
Then selling to a dealer is about your only option.
So less than $500 in equity then.
I sold my m340 to an autonation dealership that wasn’t bmw. Since BMW is in their portfolio, you’re allowed to sell. Could be autonation Honda, Porsche, etc. used the link below to start the process then went to the closest autonation dealership.
Ended up making some $$$ at the end of last year, hope this helps!