Returning BMW lease to different dealer

Ask the Hackrs
1

I leased my 330i up in NorCal (San Jose), but now we’ve moved down to SoCal (San Diego). I have a few questions about returning the lease and getting a new one. Really appreciate any insights and responses!!

  1. Has anyone had experience returning your lease to a different dealer? If so, is there anything we need to keep top of mind?

  2. Let’s say we return the car to a San Diego, but we find a new lease deal at a different dealership, would that affect any deal terms like loyalty credits?

  3. Anything else that you think might be important to know?

2

  1. Yes and no issues. Different dealer and also worked a deal with that same dealer.

  2. Beware that if you return it to a dealer and lease a new one through a different dealer, you’ve essentially left any equity on the table. I’d negotiate two separate deals; one for the dealer buying your car and one for the new lease.

2 Likes
3

Thank you for your response!

Could you clarify what you mean by leaving equity on the table? Is that assuming I buy out the car, and resell it back to the dealer at a higher value?

How early do you start negotiating deals before your lease ends?

4

Some cars are worth more than RV, and dealers can ‘buy out’ the lease and give you a check instead of just turning it in and walking away. That’s equity.

Note : Not all BMWs have equity, gotta check.

5

Can return to any dealer but sometimes better to return to same dealer in order to get a “better” deal on new car

6

I am under similar dilemma. Bought car in Fremont, CA. Currently leasing which ends within 4 months. DGDG giving 5k more than payoff. Carmax/Carvana giving 2k more than payoff

DGDG says they cannot buy a leased car.

I don’t mind paying off the car and then selling to DGDG. IS there any catch here that I am unaware of?

Also, are there any additional taxes on the payoff amount? Payoff amount right now is 28k. Thanks.

What are my options? TIA.

7

It takes approx 30 days to payoff , get title, and sell. The price of the car can drop over $1000 if you do this. Used car pricing is going down

8

@forbs - Thanks. Are you aware of additional taxes on the payoff amount? BMWFS says payoff is 28k. Is that full and final amount?

9

Assume 10% in taxes and fees when you hit DMV, they want their money too. (In CA you can get it back after some paperwork) but expect 10%

10

Got it thanks. It sucks that BMWFS doesn’t allow 3rd party lease buyout (eg: DGDG). But they allow their own dealers to buy it :confused: (eg: AutoNation, Sonic etc.)

11

That’s true for about 50% or more of the lenders. It’s normal.
Look at Volvo, their dealers can’t even buy a volvo lease…period…

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