Sell you car to a BMW dealer it’s the easiest, BMWFS will cut you a check for the equity. But you might be in a little bit of a bind because of sDrive.
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do you know if these offers are before or after tax? I am leaning towards “after”.
There is no ‘after tax’
Their offers are a price.
YOU will have to pay tax to buy the car to sell to them.
So take your RV, Add Tax, Add whatever else it costs to buy (if not at the end of lease) and subtract that amount from the Carmax price and that’s your profit.
Edit2: You put CA in the title bar but it’s in NY. So no tax savings for you
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I don’t think a BMW dealer in upstate New York is going to be willing to pay any material $$ for a rear wheel drive X3 - they are probably going to lowball you.
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The dealer in Ohio where I have a BMW serviced declined to make me an offer on my car because it was RWD. They had virtually nothing on the lot.
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I am thinking of going to NASHVILLE dealerships as online it shows they are selling sDrives (new and used, both). Any advice?
Also, since this is my first time with the lease end, can anyone share their experience as to how the lease-end process generally plays out?
Do dealers try to make money out of the lease-end vehicles by pointing every tiny scratches or anything etc. If so, what’s the best approach?
The only dealer that is obligated to ground your lease is the one you leased it from, so you might have a hard time finding one that will let you return your car. You can also sell your car back to any dealer if you have equity but you might be running out of time for that. Sounds like you didn’t do a pre-inspection for lease end either.
No I haven’t done the pre-inspection yet. I’ll call the dealers on Tuesday to see if they will be accepting the return given the car is CALIFORNIA registered.
Have you factored in the cost of getting the car from Buffalo to Nashville, let alone your time? If you have a decent offer from Carvana, just sell it to them and be done with it.
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It’s gonna be $700+ to ship it to Nashville most likely. Get a quote, else it’s pointless if it takes more of ur time and money to do so.
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Can i sell it to CARVANA before purchasing the vehicle? No, right?
Nope, but I thought you said you would be okay buying it out first? Just remember - all of this is wasting time if you have to buy it out first. I would get an offer from a Buffalo-area dealership and see how it compares to paying tax and buying it out.
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I’ve uploaded some pics of the car. Here at:
Any thoughts, how much the car should be worth based on your views?
Contemplating between buying it out and selling it in the market. Getting lowball offers from BMW dealers.
This seems like a ton of chaos & unnecessary stress to make maybe $1000 or $2000 (huge maybe) but also risk of losing a few thousand if market turns or you can’t find a buyer. Just turn the car in and move on. By the time you factor in cost of your time plus flights, hotels, gas etc to get the car to another part of the country to maybe get a more favorable market for a RWD model- is this really worth it for you? This also seems like a fairly generic spec 30i model (no M sport or bigger wheels, etc) so it’s not something that will bring top dollar.
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I think you’re also running out of time. You might even have a hard time finding a dealer that will ground it in upstate NY. Good luck.
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I have an offer that I’m going to avail.
Could someone please caution me About things to keep in mind when dealing with the bmw dealership so they don’t take advantage of me. Basically I’m going to give them the keys in exchange of the equity. They say it shouldn’t take more than 30mins for the deal but I would like to know from experienced people here whether they would add on expenses to lower the agreed upon price. E.g you need to pay lease discharge fees of $x. So since we agreed on $y. We will write you a check for $y - residual value - $x.
Any advice will be greatly appreciated as I’ll be going to the dealership tomorrow.
Make sure they buy it instead of Ground it.
How would I confirm that? They should write me a check right there and then?
The paperwork they give you…READ IT WELL.
Has anyone experienced how they give the equity? As in write the check instantly or mail it?