I have a 2020 M340. Lease will conclude next year. I called BMW to get third party pay off (I sold my old toyota lease to carmax). They told me BMW does not allow third parties to purchase vehicles. Is this true? Are there ways around it? Any suggestions?
Try autonation they can buy it but YMMV if they offer as much as carmax
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Try and sell it to a BMW dealer, any of them, or as mentioned above a dealership group that has a BMW dealership in their group.
Most wholesale brokers will use a BMW dealer to buy it out on their behalf. Buyout price for dealer is the same as yours minus sales tax. BMWF may charge you the stated disposition fee too.
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The vast majority of the car companies “today” are not allowing 3rd party lease buyouts (the number has grown in the last year), so this is not surprising at all. Others have already suggested some options, besides the obvious one of you buying out the lease and then reselling the car. This of course requires you to have the cash to make the purchase and will likely lose the sales tax on the purchase, but that is another option. You also have to assume the risk that the process will take 3-4 weeks and the quote for the used car may change over that period of time. It is best if you can find a BMW dealer or a large “multi brand” dealer like AutoNation who is willing to pay a good price in which case you can avoid the hassle of purchase and resell.
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