Your buyout price today is not the residual. It should be higher than your RV.
It actually does list out the MSDs on the payoff screen, FYI. This is from a trade-in eval. I sent to a dealership, and they send the screen back to me so I can see the payoff.
Got it i checked my bmwfs account and got the info below. I also have a random $200 credit on my account which is why the outstanding balance is $999.32, i unfortunately did not have autopay setup to take that into account.
Thanks! Thats helpful, so i need to make sure i donât sign a SDA.
Yeah thats what iâm worried about, but with all the advice given on this forum so far hopefully i donât miss anything.
At worst its just been a waste of my time. Saving some money is always nice but in my head that money was already spent. The older i get, the less cars i want in my life lol. I just sold my first car which Iâve held onto for 23 yrs. Paid more for insurance over the years then i got for it.
This is the customer payoff or RV-based payoff whatever we want to call it.
The store has the option to pay RV or wholesale, whichever is lower, correct?
Not necessarily. It depends on the timing of the lease. This lease is close to maturity based on what OP said, so itâs really just residual plus remaining payments.
So the outcome is i still have the car.
Salesperson playing middle man with the used car department, and didnât actually understand the process.
So time wasted for something i wasnât even looking for. Appreciate everyoneâs help though
Youâll get hit w dispo even if you âsellâ it
Only waived if you get another BMW
What ended being what the deal really was?
OP got new BMW in November.
There was no real deal. Iâm not sure if the salesperson was ignoring the remaining payments or thought they went away for some reason. I had originally told him i thought someone would still owe bmwfs but he said it wouldnt me. Essentially all that was happening is the used car dept was offering $322 less then the residual price of the car, and thats it. My guess when the salesperson was getting the paperwork ready with the lease manager, is when he discovered how to interpret the numbers on the sheet he had.