“Should I buy out my lease?” super-thread

Ask the Hackrs Buy/Finance
82

So this isn’t for a BMW, but for a Mercedes. I didn’t want to spam the forums with another “should I buy out my lease” post if we have a lot of discussion here already.

2020 Mercedes E350

  • MSRP $59,990
  • Residual $34,794
  • Mileage 14.2k
  • Condition is Excellent, car was not driven much at all as you can tell by mileage
  • Lease Maturity Date 01/01/23

Carmax is the highest offer I’ve gotten when looking at offers, at $35,400. A few weeks ago it was at $37,600.

I’m likely not going to buy out the lease (just going back to my paid off Honda for a while), but I’m wondering if there is any other course of action besides just returning the lease and paying the disposition fee of $595. If I contact dealers, how likely are they to purchase this lease at or above residual value? This is mostly just to save some money on the disposition fee - is it worth going this route in my case?

83

Low mileage, 3 years old E350 under warranty for $35k? I’d buy it out and keep it.

84

I had thought about it, but am deciding to just stick with my old Honda until the market gets back to normal, however long that may be. Buying a car, even a used car, for $35,000 isn’t really in the plans.

85

Pretty certain with Mercedes-Benz that if a dealership buys out your lease you won’t owe the disposition fee (Someone still charges it even on a buyout - AFS?). Maybe calling around to your local dealers will save you that.

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86

Yep! That’s what I’ve read as well. My question was mostly a broad generic question if it’s likely a dealer would want to buy my car at residual value. But I’ll end up calling dealers around my area regardless so I’ll probably figure it out myself hahah

87

I’d buy it also. The current gen E class is still a good looking car. Doesn’t look dated in my opinion

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88

Hi Hackrs, I’m not sure where I’m supposed to reply to these questions, but here goes:

  • The residual value and disposition date (when are you supposed to turn it in?)
    Residual amount is $27,018.90. Disposition date is February 17,2023

  • Current payoff — NOT the same as the residual unless you have made the last payment
    Payoff is $28786.05 (by 1/15/23)

If you have extended your lease, where are you on that timeline? N/A

  • Do you have equity? What would the third parties would pay you to buy your lease today?

Driveway quote: $33,125

[quote]

2020 BMW M240i
Car is in excellent condition. Only 4500 miles. I would like to keep it

89

Sounds like a keeper. What state are you in?

90

Oregon. No Sales tax.

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91

I would probably buy it, curious what true the BimmerVolk :de: think

Suggested reading

I would check the bmw message boards for best pricing on extended warranty, get a quote, and think about how long you plan to keep it.

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92

It’s on your lease agreement.

On mine from BMWFS it’s at the bottom of page 1 (Section 12 “Purchase Option at End of Lease Term”).

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93

Found it. Residual is $27,018.90

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94

Hey Lease Hakr’s I have two BMW’s that I’m buying out soon.

What are the must have packages that I should purchase with BMW being that I am responsible here on forward because of owning and not leasing.

If anyone bought out their BMW recently and have a thought or two to share on what to do, that would be appreciated.

All the best,
Noah

95

So an update on the Merc lease.

Agreed to sell the lease for $500 over residual to a MB dealer. The disposition and last service B fee was waived so I’m “saving” $1,500~.

I’m waiting at the dealership for the paperwork. Anything I need to be aware of regarding selling a lease to the dealer? I also have MSDs that I will need to collect from MBFS.

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96

My 2019 330i lease is coming to an end. Buy out is around $30k. Debating between buying it out or getting a new Subaru or Bolt for also around $30k. What’s the better move here?

97

Quotes from the third parties offering to buy it? Will you owe sales tax on the buyout?

98

Buy/finance the Subaru.

99

Hello there, I have a current X6 M50i 2020 which is coming up due for return. Residual is $59000 with a current $1045 including tax. Should I just buy my lease? I would like to upgrade to X7 M…not sure what the payment would be. Please advise what’s the best option here?

100

Internet strangers can’t tell you what the best option is for you. You need to figure that out. Here are some things to consider:

  1. Have you shopped the X6 to see what dealers will offer you?
  2. If you buy it out, would you add an extended warranty?
  3. Have you looked into extending your existing lease?
  4. How many miles do you drive in a year?
  5. Do you need a new car? Why an X7?

I would strongly recommend checking out broker deals in the Marketplace to get an idea of what the payment would look like.

101

Never thought I’d do this, but I’m strongly considering buying out my 2020 m550 that is coming up in a few months. It has 8k miles on it (my work switched to remote right around when I got the car) and the residual is $51k. My current lease (36/10) is $786+tax and I don’t see anything interesting anywhere close to that range.