Good point. I am approaching lease end and want to buy my vehicle but it’s worth less than residual because of some carfax blemishes.
What I find interesting is that BMWFS is obstructing me from returning my vehicle and buying it back later for less than residual value. Dealers won’t even talk to me. Dealers are depriving former lessees the right to fair marketplace negotiation. It’s not discrimination but it seems like a borderline consumer rights violation.
Why would you buy a car with a dirty Carfax? And pay more than its worth on top of that?
Bmwfs does not allow any dealer to sell a lease to the original lessee for under rv to keep dealers from cutting them out. You have a contractually preset purchase price.
I assume you’d have no problem with bmwfs getting to the end of the lease and raising your rv to market value for their right to fair marketplace negotiation?
Simple. I would buy it because I know the vehicle history and the quality of the repair where a third party with no familiarity would expect a large discount for the carfax taint. BMWFS would be better off selling the car to me at a modest discount to residual versus selling it at action for a significant discount.
Doubt there’s a team at FS tasked with running carfaxes and valuing cars individually. When the entire market needed an adjustment, that’s a different story.
Same thing will happen when you eventually go to resell or trade it.
Running into a similar situation with my M3 lease return- the inflated MSRP means a really inflated RV.
Interestingly, last month there was a minimal (2-$300) discount in my payoff quote and this month there is nothing. The used car market is absolutely INSANE right now.
If you take a look at bimmerfest posts, BMW FS was giving people 3 to 7.5k off of their RV last year during pandemic up until ~ Sept/Oct. Unfortunately for us who are at lease end nowadays, the market favors the seller and so they don’t have a good reason to discount off contracted RV 
I’d try to see if I can extend the lease and maybe the market will get around.
If you think the market will soften as i do then consider asking FS for a lease extension. I hear they will extend 3 months as of right on the same terms eith prorated miles. Perhaps their buyout offers will improve by then. Fwiw, I am also in an m3 comp. But for my unfortunate carfax blemishes, there would be equity in my lease…the residual is 55k but its a unicorn spec - 6mt, carbon slicktop, m performance exhaust, extended leather, exec, carbon exterior and only 15k miles. This is why I am tempted to keep it. I just need a little feel good incentive from FS.
Blockquote You have a contractually preset purchase price.
The present contractual price is not applicable. Once the lease expires, neither me nor BMWFS have any further obligation to one another with respect to the lease agreement. BMWFS’ work around is to penalize dealers from selling me back the car below RV (below). Just pointing out that BMWFS could make more money by selling me the car vs. selling it at auction. The business of leasing is really fascinating to me, especially the calculus of setting of RV’s.
You don’t, but the dealer does have contractual obligations with the bank.
Any Joe Schmo can walk in off the street to purchase my off-lease vehicle below RV whereas I cannot do that despite having fulfilled the terms of my lease agreement. I am at an unfair disadvantage because of the policy. This bothers me more than it should.
Thought I chime in with a follow up. It’s been about 2 years since I bought out the lease for $31K out the door and the car is at 50K on the odometer. It’s obvious my car is a unicorn and like my GME stock, I aint selling it. 
The $1600 CPO cost paid for itself in warranty work, which I’m very eagle-eyed about through monthly inspections. I had the car appraised at CarMax a few times and here’s how it went:
Nov 2020 (34K miles): $28K
July 2021 (42K miles): $30K
Nov 2021 (49K miles): $31K
Never thought I would own a car that would also be a appreciating asset. Corresponds to about $15K in equity, perhaps maybe more if I shopped it around.
I totally get why this feels unfair. Unfortunately it’s a matter of FS feeling like they’ve gotten burned in the past (consumer and dealer circumventing RV process to sell out for for less to original lessee), and it’s their car so their rules. I’m sure in instituting this rule, they did the math and on the whole, for every person like yourself that would buy it at less of a discount vs a sale to Joe Schmo, there’s more dollars lost in people purchasing at a discount vs RV that may have paid the RV.
Lots of circumstances out there right now that right or wrong, feel quite a bit unfair (ie disallowing 3rd party buy out, charging market value for 3rd party buy out, etc).
