hi,
a friend of mine located in Brooklyn has an x5 lease that’s ending in a week.
I want to buy our that vehicle.
I am located in NJ and my cosigner is based in Brooklyn. vehicle is to be registered in NJ.
what’s the best way to get about this to pay the least amount of fees and lower interest?
thank you in advance
About the only way to make this happen is for your friend to buy the car at the residual (probably pay sales tax), and then sell it to you (and you’ll pay sales tax).
Or, wait a couple of months and see where the VIN pops up when a dealer lists it for sale.
Youll have to find a bmw dealer to faciliate the buyout and resale for you if you want to avoid buying it out yourseld and paying tax. Expect them to charge for the service.
thank you for responses.
how much do they usually charge for such service?
As much as they can get away with. Seriously.
It will be a negotiation with them, just like if you were buying the car traditionally. If it is a car coming off lease that they wish to ground at their dealership for resale (aka it is desirable) , and they think they can make a nice profit on it, they would probably prefer that approach.
but it’s up to my friend which dealership he returns the lease to, right? this way I can play two dealerships against each other for the best deal? correct or I’m stuck with a specific dealer?
I was literally about to post the same thing.
You could work with your friend to pick a particular dealer and, if this car is desirable, tell them of your plan to buy it out and that he will return it to the dealer that will make the process the easiest.
noted. thank you for providing the clarification.
have a great weekend!
Buying a BMW at RV is usually not a good idea.
can you elaborate? they are more expensive on used market. what are my alternatives if I am dying to own an x5 lol
99.9% of the time 
i’m not sure of what the deal is on this particular one.
It is possible that buying that at RV is worthwhile right now, but generally on BMWs it never has been due to the way leases are structured.
If you have the VIN, you could do a quick sanity check by running that car out for independent third-party offers and comparing that to the RV.
I will get the quotes to get a better feel on the current market. thanks
That part right there may cloud your judgement🤪 If at all possible, it is best to remove emotion from these decisions as much as possible. Of course, one needs to get a car that they like and make the experience as fun as possible, without overspending.
I wish it was up to me. I’m just trying to help a family member with the purchase.
the x5 is for my father in law. I would never pay those amounts for a car.