Last post on Mar 18, 2013 at 5:45 PM
You are in the BMW 3-Series
What is this discussion about?
BMW 3 Series, BMW, Sedan, Wagon
#13 of 23 Re: 07 328 end of lease [myamay73]
by kirstie_h HOST
Jun 01, 2010 (11:08 am)
Well, no... we can't confirm your decision with the info listed. But, by making some guesses and asking follow-up questions, people can help.
My first assumption is that you like the vehicle. This is very important, because if you do NOT like it, you're probably not going to be happy keeping it regardless of the financial details. I'm going forward assuming you do.
I'm also going to assume that you were allowed 36,000 miles on your lease, and that you're over by about 8K now. If that's true, I'll calculate an average of $0.15/mile overage fee, and say you'll owe $1200 for the excess mileage. Let's assume another $1,000 for the dings and other fees.
Your purchase price looks to be right between private party & dealer retail, so that's reasonable. If you have the $2,000 for the fees you'd pay to turn it in, why not use that as a downpayment on the balance, then finance the remaining $18,500? This would cut your monthly payment by a LOT, or alternatively, reduce the loan period by a lot.
The only way I see it making good sense to turn in is if you're looking to lease another BMW, and for whatever reason, you can get them to waive fees. But still, if you're happy with the vehicle, you can reduce payment amount or interest you're paying if you keep it. Just my thoughts.... don't take my opinion as gospel.
#14 of 23 Lease End Buyout Option
Nov 12, 2010 (5:28 pm)
Hi - My BMW 328Xi coupe lease is ending in 6 months. I am not interested to keep the car, instead I want to swap it to any used 4 door BMW car/SUV. I recently received an email and a follow up call from BMW offering to waive 3 months lease ($2100) and lease disposition fee ($500 - I think). I have told the dealer that I will accept the offer if 5-6 months lease is waived. I haven't heard back yet and my questions are: Is this a good deal? Are there anyone who had better experiences? Will there be any other hidden fees or charges I should be aware of?
As information, I am significantly under lease mileage, about 10K miles less than the contract. And the 3 months lease payment waiver is reflected in my pay off quote, so I think the dealer is not offering anything extra.
#15 of 23 328i end of lease buy out price
Jul 12, 2011 (6:07 pm)
My 328i is nearing end of lease and I've been offered a residual value of 21,000. Is that reasonable ? I'm hoping to knock off 2K from the residual but that seems to be difficult.
The car is well within the mileage limit and in good condition.
Also do I HAVE to go to the same dealer from whom I originally leased the car ?
#17 of 23 Re: 328i end of lease buy out price [bmwleaser]
Jul 17, 2011 (9:27 am)
In an attempt to move cars during slow times, BMW and other manufacturers have done some dumb things. In order to make the payments attractive, they place the residuals unrealistically high.
Then when the cars go to the auction, they end up losing thousands of dollars on them. Some car manufactures seemed to have learned and others not.
Cars with high depreciation rate such as BMW are generally not good cars to lease because of low residuals.
Then some people want to negioate. the residual at lease end when they KNEW what it was when they leased the car in the first place.
If the car companies allowed this to happen, it would create a can of worms and it would undermine everything they put in writing!
Turning this around, if BMW made a mistake and set the residuals too low, they wouldn't be able to tell a customer..." Well, we know the residual is 20,000 but the car is actually worth 23,000 so if you want to buy it, it'll be 3000.00 more than we told you when you leased it"
Setting residuals is a tricky thing and it's hard to predict the future market.
Set the residuals too low and the payments won't be attractive.
Set them too high and they will lose money at auction time and they will have customers asking to pay less.
Honda did the same thing to themselves a couple of times but not like BMW has. They don't seem to learn.
#18 of 23 Re: 2007 328xi end of lease [larryjordanjr]
Dec 27, 2012 (10:59 am)
Did they (your BMW Dealer) offer to certify your BMW for you first, and then go with the buy option?
#19 of 23 335I Lease end and also thinking of leasing again
Feb 17, 2013 (8:25 pm)
I found out the hard way that if they can take your money they will. I felt like they robbed me when I first leased 335I. Next month 03/2013 will be the end of that lease and I came back to the same dealer and I think they're trying to rob me again. I'm now looking 335Is which came to 66,845 MSRP.
First I asked them the buyout price. It's stated in my contract that it's $37,000. But when they calculated the buyout price it's actually $38K because they're adding $750 charge for the car run through their shop. That's total BS. It's my car and I want to buy it. I don't want to pay $750 for extra checkup...
Then I asked about the new lease for 335Is with 66,845 MSRP. I also owe them $2400 worth in miles overage and no run flat tire. They told me to leave my current car there go rent a car for a month while they order this new car. Put $5k down. Then pay them $862/month for 36 months.
I assume since I'm leaving the car with them I don't have to pay last month lease.
Is this a good deal? On their website the lease offer is only $529/month for 36 months for msrp of 63K car excluding tax, tags, title.
How much can the tax be? Do they tax on the entire MSRP or just the least amount? I feel like they're trying to rob me. Any pointers are greatly appreciated.
#20 of 23 Re: 335I Lease end and also thinking of leasing again [taken_4_a_ride]
by kirstie_h HOST
Feb 18, 2013 (7:34 am)
Your questions might be more suitable for our BMW 3-Series Lease Questions discussion. It's more active, and since you're asking questions about a new lease, you'll likely get more feedback there.
#21 of 23 2013 328i Lease
Mar 18, 2013 (3:04 pm)
My local dealership contacted me about ending my lease 3 months early on my 2011 328i. Here is the offer they proposed:
BMW pays the remaining payments on my current lease (2011 328i).
Alpine White Exterior
36 month lease
10K miles per year
$500 bonus cash
0.0017 money factor
$250 due at signing
Is this a good deal? I've looked at Edmunds.com and it lists invoice at $38,070. Any help would be greatly appreciated. Thanks
#22 of 23 Re: 2013 328i Lease [ballfan]
by Mr_Shiftright HOST
Mar 18, 2013 (3:39 pm)
you might check first if you have any equity in your car (actual market value vs. current payoff) and if so, who gets that equity on the trade-in?
And yes, you can negotiate the selling price as well. I suppose you could say that the 3 months they're paying on the lease + the rebate could be taken off the asking price, presuming there is no equity in the car.
Are you comfortable with a 10,000/yr limitation on miles?