Seems like you’ve answered your own question
And yes this is purely a discussion area. Not sure what else you were expecting?
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This is the wrong place for this question, (I’ll answer anyway and let mods move if they want) but generally speaking, no. You might have an offer from BMWFS for money off to buyout the car, but dealers will get in a lot of trouble if they buy a car off lease for market, and then sell it back to the original lease-holder for less than their buyout. You signed a contract that stated what you agreed you would buy it for at the end if you wanted it. Like i said, sometimes BMWFS will offer you a discount, but no, you can’t “shop around” dealers trying to get more money off. I would bet that $1,500 they’re offering you is listed in your payoff quote from BMWFS.
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Thanks for the answer and yes, I’m not sure if this is the right section…
Maybe the dealer is giving me a $1500 ‘discount’, before adding it right back to CPO the car, making it $40500 again. I hate to immediately think the worst and dont understand how else they could offer a discount if its illegal and not available (unless its a small clueless dealership? - when did this (new?) rule come into play?
Original paperwork stated ~$42000 residual, but I think its gone down in my account each month that I have extended the lease past 36 months?
The residual won’t be going down. Your total payoff will as you make the remaining payments.
There is an option in there to get a payoff quote that will have a little grid outlining all of the costs. Get than and post a screenshot from that PDF.
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Looks like you did your math and love your car soo…
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@ch0rl3y - If you plan to buy it out, you might want to consider budgeting for an extended warranty plan.
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yes, I think it has 4y/50k from factory, I would have a year to extend that I believe? haven’t got into that cost yet but its on the list…
(if a model 3 performance in the spec I want becomes available this is all moot, but keeping options open, have had a deposit down since beginning of Dec and nothing in the pipeline that isn’t red or blue lol)
I didn’t see this before but if you’re now paying past the original 36 month lease then yes I believe it would go down further.
As far as that $1,500 goes, idk how they’re offering you that.
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Could it be a BMW loyalty finance incentive?
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Maybe I’m looking in the wrong section, but I’m only seeing a possible $500, unless they stack? or use OL codes from driving events etc? do you know where that would be listed?
$500 off on Certified 3 series and an additional $500 off for loyalty.
It is my understanding that OL codes can only be used on new in-stock models. There is a thread on here that talks about it.
EDIT: You could always ask the dealer offering you the $1500 off for a breakdown or show them the info about the offers you posted here.
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and an ‘on lease’ vehicle would be ‘certified’ or is there a cost to certification I wonder?
You usually have to pay for a car to be CPO’ed. But again, I would direct all your questions to the dealer and/or BMWFS.
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That’s a good point, didn’t think about that.
Regardless @ch0rl3y what I said earlier about them not being allowed to discount past your residual is accurate.
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@ch0rl3y - What did you end up doing?
I got a 2nd lease extension through Feb 4th and still have a Tesla Model 3 performance on order (since Dec 12thish, they just can’t seem to find a color/spec combo that works, I dont really want white interior n the ‘bad’ wheels)
I have a backup offer from a dealer to buy the car (at ‘discount’ from the residual, but then its all added back in to CPO)
*"Here is the buyout with a 2 year CPO warranty added on top. *
Selling: $39,000
Smog + Safety - $490
Profit- $500
2 YR CPO - $2275
$42,265 (including 2yr extra warranty)+ tax,title,license and we take care of all the DMV paperwork rather than you having to do it.
The only unknown cost is reconditioning. Certification is very strict in order to pass. If tires are needed or windsheild has to be replaced etc… that is the only unknown cost as those would need to be done in order to certify."
So in answer to your question, I’m just sitting on my hands. If a nicely spec’d 4 door bmw comes in for under 1000 locally, I’ll get it, most I see dont have the equipment I would have wanted/am used to. I’ve been lucky with finding/building unicorns in the past, so I guess I’m spoilt.
If you’re going this route, get the longest extension which I think is 7yr/100k from in-service (i.e. 3 additional years).
Helps with resale and/or keeping the car for longer if you want to.
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What do you mean by find? I thought they build them to your spec?
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