How do you find pre-owned service loaner BMWs?

Ask the Hackrs
1

Hey all, I see all these deals for former service loaner BMWs and I’m wondering how you folks go about finding these? Do you specifically ask the dealer or is there some way to find them online?

Thanks!

2

I’ve found that typically service loaners will have an “L” in their stock number.

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3

i used cargurus and autotrader and simply searched for used bmws with less than 5000 miles. Almost all cars which match this filter are loaners.

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5

Go to the dealer websites, they usually have a tab saying loaners/demos/executive cars, it could be under new or preowned. It’s different on each dealers site so you might have to poke around a bit. Sometimes you just have to call/email around too because they might not be listed or they have something they are about to pull out that could work for you.

6

Thanks all, think the L in stock and searching Cars.com for low mileage cars at BMW dealerships seems like a winning formula. Is it a given that all former loaners can be leased? Also, what does LA in the stock number mean?

7

I search CarGurus for current MY BMWs with less than 5000 miles. Then I look at the CarFax reports to see if they have been registered as corporate or fleet vehicles. Usually a good indicator that those are loaners. YMMV depending on state.

8

Keep in mind, not all dealers practice this. If you’re just looking for stock # with Ls, you could be overlooking some

9

That’s probably true, but I know how to differentiate the for sure models now also which I couldn’t do before. Do you know what LA stands for because I’ve seen that in some stocks as well. Also, do you know if all previous loaners are eligible for lease?

10

Loaners under 5k are eligible for lease with all incentives. $.25/mile mileage adjustment less 500 miles (car has 4500 miles - 500 = 4000 miles * .25 = 1,000 mileage adjustment)

Loaners between 5,000 - 7499 can be leased, however, you lose incentive cash, there is a 4% residual penalty, + mileage penalty

Loaners 7500 - 9999 can be leased, however, you lose incentive cash, there is a 6% residual penalty + mileage penalty.

Loaner would have had to have been punched as a loaner by BMW dealership, or a corporate vehicle. A previous lease that turned in/trade in early/was unwound would not qualify.

No clue what LA would mean/Dealer’s stock # logic.

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11

Thank you for all this! Definitely gives me something to think about! Just a quick question about your first mileage scenario (< 5k miles). Per your example, if a loaner has 4500 miles on it, does that 1000 mileage adjustment mean on a 3yr/36k mileage lease, at lease end I’d be allotted up to 41500 ((36000 lease + 1,000 adjustment) + 4500 original miles)) miles? I suppose I’m just a bit confused on what the adjustment means?

12

no, you make the adjustment at inception. If the car has a residual value of 30,000, you’d deduct the mileage from that (4500 - 500 *.25 = 1,000) so, the adjusted residual value would be 29,000.

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13

Ah I see what you mean now, thanks!

14

One last question, do you know if maintenance is still covered for loaner cars for duration of the lease?

15

The maintenance coverage would transfer to you, yes.

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16

I noticed a lot of loaners (specifically 330es) at BMW of Alexandria and San Antonio. Has anyone worked with these before? Playing around with a calc and incentives, it seems some of these can get to sub-$400 payments on 50-55K MSRP cars with $0 driveoff?