Have you tried searching? Lease extensions are up to six months but that may only be with a new BMW order.
I don’t believe third party buyouts are allowed for BMW, so either you have to buy and then sell the vehicle or a BMW dealer has to buy it. What are you trying to accomplish? Cash out equity from your current vehicle? If so, try Autonation since they may have a BMW dealer in their network who could facilitate the transaction.
Yes to see what my cash out equity would be. Also I’m 10k miles underdriven
I would need a car 9 months from now
Or I could take this equity and use towards something else (next car)
Yes I’m aware car market is very inflated.
Just wanted to be more educated on my options from now till end of lease.
Sure I will try that dealer you mentioned.
I believe I should call bmw financial services and ask them payoff for a bmw dealer ? As that wouldn’t include taxes or any buyout associated fees if there even are any to begin with.
I have previously sold a Honda lease prior to rules changing, so I’m somewhat familiar but not fully.
You don’t need to call anyone, except about extension options. You can get your payout from the BMWFS app or site. Get values from Autonation, CarMax, etc. if there’s equity see if you can get a BMW dealer or Autonation to buy it out otherwise you’ll have to buy it and then sell it. This may have additional tax implications depending on your state.
Nissan and their 18 month leases make great short term options.
You can sell the car to 3rd party even after the lease has ended provided you are in extension phase.
If 30 days have passed since end of the lease and you have not extended it, the dealer can’t pull the payout and will suggest you have to ground the lease but there is a way around that as well.
Let me know when you are ready to sell after taking few quotes and I can tell you right away if those offers can be beaten or not. Just take your equity check if you have any plus the MSD money (provided you put it) also from us we take care of paying the car off and get the title.
You don’t need to buy the car to resell it as the tax and other fees will eat up most of your equity.
We have been doing it all along. We just have to go through a BMW dealer who takes a cut from the equity which we have to pay and they process the title for us.
That sounds like some major risk if they can be deceitful and ground my lease and screw me out of potentially few thousand of equity (assuming it exists)
Depends on who you call 3rd party. To me any Non-BMW new car dealer or a used car dealer is a 3rd party and if they work with a BMW dealer to complete the transaction it can be done.
Can a customer go sell a BMW lease to carmax or online buyers, that would be a no but can the lease be sold to a 3rd party as mentioned above, the answer is Yes.
I believe original poster got ans to his original question.