Selling My Leased BMW - Should I or Should I not?

I’m in California and I have a 2019 BMW 4 series with 14k miles of a 20k miles lease that expires in July 2021. I made a 2400 security deposit (MSD) and have a payoff of $31,800. I got an offer from one of the online used car dealers to buy at $32,400, should I take this? Will I have to pay BMW FS any additional fees by doing this?

If you get your security deposit back, yes. If not, no.

You can also get quotes from Carvana, Swift and Vroom.

There is going to me so many of these on the market soon lol. My 2019 4 series ends in May. 2019 was a great year

Not many BMW deals to be found these days unless you’re not picky. What can you replace it with? :thinking:

Been considering an EV due to tax credit but you’re right that’s the consideration

It’s also a clean wya for me to get out of BMW’s; last 3 cars where BMW leases 24 months

That’s the problem the everyone in the 2019 generation who did 24 month leases is facing now.
Suggestions?

Get out now while you can and pick up a cheap lease (of any type). Or extend your current lease as long as possible and hope for the best :slight_smile:

seriously though, the deals this year have not been anything to shout about. Decently spec’s loaners are still good choices. Otherwise, it’s pay to play

1 Like

How long does BMW typically allow to extend your lease by?

Two months.

:man_shrugging: Varying levels of success mentioned on LH. 2 months typically, but up to 6 months max. Search around LH

With being out 3 months from maturity, I’d def sell it and pocket $800 equity and have your MSDs returned. You don’t have to deal with the lease return inspection and have to worry if you incur any charges (you prob don’t have any) and you get out of the disposition fee ($350+tax).

Bad news is that you’ll likely have to say good bye to BMW for awhile since their deals are pretty bad right now.

Scout the forum/marketplace and see the few cars that are leasing decently as a replacement.

1 Like

I am currently at the 6th month of my extension. They said no more after that.

2 Likes

Youve apparently worn out your welcome :slight_smile:

1 Like

Last month’s e-tron deals would be the best replacement for you. This month’s are not that attractive. Other evs’ would be a downgrade if you want a “deal” or take your chances and wait.

Don’t make a move until you know for sure what’s next. I just made that mistake, because not only are current leases terrible, the used car market is ugly. Not just higher prices and low inventory, but dealers are tacking on all kinds of hidden fees to make back some profit.

At least here in MI, dealers never added VIN etching or reconditioning fees to the advertised price. Instead of trying to negotiate the sale price down by a few hundred dollars, it turns into fighting for list price plus tax, title, doc fees, etc.

Private sale market is still the best bet, and I was lucky enough to find a diamond in the rough. But make sure you do your homework. Good luck.

Theres a story here…and we need the scoop😁

I’ll put the details in another post, don’t want to hijack this thread.

@zman If you can’t find anything, buy out the car yourself and sit on it as a future trade in. Every dealer said they giving better deals with trade ins, as they need inventory.

I know a TH here who can landfill our tangent ASAP :slight_smile:

1 Like

Take over my 640GT with 14 months remaining.

1 Like