Good Morning Leasehackr forum! It’s been about 3 years since I’ve been on this site. I used this forum when I was in the market to lease a new car and everyone here was very helpful and knowledgeable. I think this forum is a great tool. As mentioned, 3 years ago in May 2020, I leased a 2020 m340i from a California dealership (I live in AZ). It was cheaper to pay they $300 shipping fee then to lease from one of the dealerships here in Arizona. Shoutout Leasehackr forum for that advice! Well the time has finally come to start thinking about what I will do at the end of the lease (May 2, 2023). This is my first lease so the process is brand new to me. I receive monthly emails from my local BMW dealership to trade in my car for a new lease but honestly they couldn’t compete with the CA dealerships in 2020 and I don’t think anything has changed. A while ago I read that a smart move is to sell the rights to purchase your car to a national reseller such as Caravan or CarMax. I also remember reading that BMWFS stopped allowing this option. I will return the car under the allotted mileage. I’m current at around 31k out of the allotted 36k. When I signed the lease, I was able to negotiate about 13% off MSRP. There is a small scratch on the rear driver’s side wheel well which I need to have painted prior to returning. I also have a second car lease that expires in August so I’m not forced to replace this car with another lease at the time this lease ends. I’m comfortable using my secondary vehicle until August. So in your expert opinions, what would be my best option? Thanks in advance. I know it’s kind of a long question but I wanted to make sure I included all relevant information.
I’d get a lease turn in inspection prior to repairing the damage. You may find the amount they charge you for the damage is a good bit less than what it actually costs to repair.
Otherwise, get some quotes from some BMW dealers to buy out the lease. There probably isn’t any equity in it, but it’s worth checking before tossing the keys back.
Talk to @Clutch I believe he has an AZ BMW dealership and maybe you can get a lease from him as well.
Damn, sometimes miss them paragraphs…
I would start by re-validating a lot of your assumptions. The first post in this thread has three links in it that are relevant:
How to do that?
Go to various dealers with the car and have them appraise it to let you know if there is positive equity for you or not ?
When dealer buys out car, do they care if your tires are almost worn out and they don’t meet the lease turn in 4/32 tire tread depth
Most BMW dealers will have a “we want to buy your car” link or something on their website. You can start there.
They’ll price it accordingly, and certainly will take into account the bald tires.
Thanks but I’m looking at my end of lease options. Not necessarily looking to get right into another lease or do so with an AZ dealership.
Clutch can do EOL options as well.
Thanks! This is very helpful. When you say get some quotes from BMW dealers to buy out the lease, do you mean prior to May 2nd (when the lease expires) or at the conclusion of the lease?
What is Clutch?
Thanks! I read the articles. Seems BWMFS doesn’t allow a third party purchase. Does this mean that my only options will be to return the vehicle or buy it myself?
Or sell it to a bmw dealer/someone affiliated with a bmw dealer.
Yes, prior. The sooner the better to get started getting quotes.
If you not interested in buying out this car then just turned it in or find a third party like Autonation who has a bmw affiliate in AZ to sell them. You said you have another car till August so you have till August to find a new lease. Work with brokers on this site. As other mentioned @Clutch is the first one I will start with. He can even help you in getting rid off your existing lease vehicle.
Lot has changed in 3 years as you have already noticed. But you can still find a good lease if you work hard…
the team @Clutch are awesome! I inquired about a new lease from them last night and they had all the numbers/ lease calculator etc back over within 20 minutes and super nice guys! fabulous service.
Ditch the BMW (I had 5 of them), lease a Tesla M3 RWD instead.
…you are welcome.
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