Year, Make, Model, and Trim: 2020, BMW, 330i, Sedan M Sport Package (Previously a demo car)
MSRP: $ 51915
Selling Price: 44514.12
Monthly Payment: $426 (with 9.5% sales tax = $466)
Drive-Off Amount: $1500 (I put this down to cover the first months bill and other fees).
Incentives (at the time): $2750
Months: 36
Annual Mileage: 10000
MF: 0.00082
Residual: 57%
Region: Northern California, SF
I got this lease in Jan of 2021 (right before the madness really took hold). Due to other life events, I am going to sell the vehicle. BMW has since tightened the sale of its leases so I am documenting my process here (for others and me too). Perhaps others would chime in and I could learn what I could have done better in leasing, and/or offloading it. I will edit/update as the process moves on.
So far:
I have enjoyed this car. It is a BMW 330i with the M Sport Package, Harmon Kardon Sound, Ambient Light, Connected Package Pro, Live Cockpit Pro with Navi, Convenience Package and some other goodies. The mileage (including the original demo miles) is currently at 18K. I have 18 months left to go on the lease and the buyout is $36K. I have an offer from 3 online sites that allow me to break even if I do a quick turnaround and resell after buying out the lease.
July 4th: Obtained offer from third parties.
July 6th: Certified Cheque for purchase sent to BMW FS today overnight.
I am hoping for a quick turn around so that favourable offers are not pulled.
EDIT:
July 8th: Payment noted in BMW’s system.
July 11th: BMW says that the Title has been released. A phone call to them suggests that the CA DMV will send a title to me when the spirit moves them.
July 17th: I filled out a KBB online appraisal form. I was contacted by several dealers. One of them bought the car and will wait for me to deliver the title.
You probably could have sold it to autonation without the hassle
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did you consider transferring the lease to avoid the hassle? considering you aren’t going to make money buy doing the buyout, etc.
Did you try to sell it back any BMW dealer?
I did with two dealerships. They had a lower offer than the payoff. One was at $32K. The payoff is at $36K.
Do they have something worked out with BMW FS? I was expressly told that any third party offers would be rejected. I could still try with them. My main goal now is to avoid paying sales tax on the purchase (since I am selling it).
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Autonation can buy out BMW because it is part of their network.
https://www.autonation.com/dealers/bmw-buena-park
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I have never done a lease swap. I am new to leases and was not too sure of the Swap process. I was also afraid that the deal on this car was just okay and might not be attractive to someone else.
Okay. I will contact them still, maybe they can help in case the title does not get to me on time. Thank you for this info. Could have avoided the hassle if I knew.
Since you already bought it out, you might as well run the other guys. Carvana, Carmax, etc. @Clutch too.
Also if he sells it the day he gets it he can possibly get the taxes back
Edit: is there any equity in this thing
No equity. As is, I would break even (minus $30 for overnight courier 
)
I would’ve taken over it at that price lol definitely listen to what they’re saying up above. I believe you’ll have 10 days from when you receive the title to sell the car so that you can get your sale taxes back. look for the CA sale tax thread on here.
I also would have taken it over if i was in CA. But i’m on the east cost
Thank you to those who suggested Autonation. I contacted Autonation and they indeed said that if I had not paid off the car they would have taken it. They offered to buy it upon receipt of title.
I also received competitive offers from Carvana and Shift. In the end, a KBB associated dealership bought the car after matching the offer from Autonation and agreeing to wait for the title.
