Money shifted from 3rd to 2nd

[f80er]

Originally Posted by jninja

I got more for my Accord there ($16k), than my own dealer offered me $14.5k... and no one in person paid up. So i went Carmax, no regrets.

I sold 3 cars to carmax.

2011 A4 Avant, dealer offered $23K carmax gave me $28K.
2014 Audi S4, carmax gave me $41K low but I was over it.
2013 Ford Raptor carmax gave me $45K, dealer offered me $35K hoping I didn't know what it was worth.

[dongerkim]

Originally Posted by f80er

I sold 3 cars to carmax.

2011 A4 Avant, dealer offered $23K carmax gave me $28K.
2014 Audi S4, carmax gave me $41K low but I was over it.
2013 Ford Raptor carmax gave me $45K, dealer offered me $35K hoping I didn't know what it was worth.

Now i feel like an idiot for not even considering carmax. I just sold my f80 to the dealership one day as i was waiting for my car in service. I was 14 months into my lease and had 20k miles and came to an agreement of they would buy the car outright and i could walk away. But i needed the car for another 2 weeks and told them i would sell it to them then, and they said the offer may be off the table. Walked in 2 weeks later and took a cab home lol.

[frankiebones]

Originally Posted by maniz

Exactly. As stated, I misjudged my speed. And didn't look at the speedo, and was low on caffeine early in the morning.

Top speed in 2nd gear is 71 (from what i have both read and experienced). I once shifted almost fully into 2nd at 69 when i meant to go into 4th (one of 2 mis shifts out of tens of thousands in my life).

The other was a similar situation where I went into 2nd after shifting at the redline in 3rd. i was going around a corner and let the clutch out MAYBE 10% when I immediately felt the car pitch and yaw in a weird way. close....but still here.

[bimmerfrk]

none of you know how to drive a manual. Hang it up and get yourselves DCTs, they are faster anyway.....

[Aaaaaaaaa]

Originally Posted by bimmerfrk

none of you know how to drive a manual. Hang it up and get yourselves DCTs, they are faster anyway.....

Y'all should get a N55 M2 while you're at it

[avantix]

Originally Posted by bimmerfrk

none of you know how to drive a manual. Hang it up and get yourselves DCTs, they are faster anyway.....

A quick shot of cheap Tequila isn't nearly as satisfying as a glass of premium scotch

[gunsmoker]

Originally Posted by bimmerfrk

none of you know how to drive a manual. Hang it up and get yourselves DCTs, they are faster anyway.....

Loved the reply. Maybe we like the torture of it.

[qba335i]

Originally Posted by f80er

I sold 3 cars to carmax.

2011 A4 Avant, dealer offered $23K carmax gave me $28K.
2014 Audi S4, carmax gave me $41K low but I was over it.
2013 Ford Raptor carmax gave me $45K, dealer offered me $35K hoping I didn't know what it was worth.

I never sold directly to carmax, but used their cash offer to negotiate. Dealers eventually match the price and I get the tax benefit.

[FlyS4]

OP, was this DME flashed or removed and drilled to unlock?

[moonshine89]

Originally Posted by dongerkim

Now i feel like an idiot for not even considering carmax. I just sold my f80 to the dealership one day as i was waiting for my car in service. I was 14 months into my lease and had 20k miles and came to an agreement of they would buy the car outright and i could walk away. But i needed the car for another 2 weeks and told them i would sell it to them then, and they said the offer may be off the table. Walked in 2 weeks later and took a cab home lol.

Uh...how did a dealership buy a car you were leasing? More importantly, how would you have sold a car to CarMax if you were leasing it? Am I missing something?

[1M4]

Originally Posted by dongerkim

Now i feel like an idiot for not even considering carmax. I just sold my f80 to the dealership one day as i was waiting for my car in service. I was 14 months into my lease and had 20k miles and came to an agreement of they would buy the car outright and i could walk away. But i needed the car for another 2 weeks and told them i would sell it to them then, and they said the offer may be off the table. Walked in 2 weeks later and took a cab home lol.

I never had a bmw lease where I wasn’t negative if I tried to sell it, even at car max .All of my lease returns were under 20k miles at the end of 36 month leases and the condition was excellent garage kept .

[gmorton995]

Originally Posted by 1M4

I never had a bmw lease where I wasn’t negative if I tried to sell it, even at car max .All of my lease returns were under 20k miles at the end of 36 month leases and the condition was excellent garage kept .

Same. Would love to know the dealer. I am looking for someone to take my lease over on my ‘18 M4 ZCP. Listed on Swapalease.

Stuck on a Porsche GT4 at the moment

[instarand]

Originally Posted by moonshine89

Uh...how did a dealership buy a car you were leasing? More importantly, how would you have sold a car to CarMax if you were leasing it? Am I missing something?

A lease is no different than a loan. You owe the bank money, or the car. You can sell privately, or trade, or pay the bank at any time.

The issue is that usually the balance remaining (residual + remaining payments) is a higher amount than the car is worth. Which often makes you upside down on the loan. But it's not uncommon to have equity when your lease is up if you drive low miles or the market for that car is high.

Most people don't understand this about a lease. And most dealers don't tell you about it. People assume you owe the car to the dealer. The dealer is an irrelevant third party relative to your lease. It's between you and the bank.

Note about selling privately. While this may be the best way to get out of a lease since you can get retail dollars vs wholesale, most private buyers want title in hand. In order for the sale to work, you'd have to either pay off the car in full and get the title and then sell the car, or find a buyer that's willing to send a whole lot of cash to your bank and then hope it all goes smooth and then completes the sale once the title arrives. If the buyer is a Family member or close friend or somebody you know, option 2 is more realistic.

[FlyS4]

My question still stands was this a Drilled DME like they used to do it or was it just flashed?

[elias]

Before I turned in my M4 lease I went to Carmax to see if they would beat my
residual value to make a few bucks. Not a chance they offered my $44k my residual was $45k so I said no thanks.

[moonshine89]

Originally Posted by instarand

A lease is no different than a loan. You owe the bank money, or the car. You can sell privately, or trade, or pay the bank at any time.

The issue is that usually the balance remaining (residual + remaining payments) is a higher amount than the car is worth. Which often makes you upside down on the loan. But it's not uncommon to have equity when your lease is up if you drive low miles or the market for that car is high.

Most people don't understand this about a lease. And most dealers don't tell you about it. People assume you owe the car to the dealer. The dealer is an irrelevant third party relative to your lease. It's between you and the bank.

Note about selling privately. While this may be the best way to get out of a lease since you can get retail dollars vs wholesale, most private buyers want title in hand. In order for the sale to work, you'd have to either pay off the car in full and get the title and then sell the car, or find a buyer that's willing to send a whole lot of cash to your bank and then hope it all goes smooth and then completes the sale once the title arrives. If the buyer is a Family member or close friend or somebody you know, option 2 is more realistic.

Wow! You're right! I didn't know that at all. Thanks for the info!

[dongerkim]

Originally Posted by moonshine89

Wow! You're right! I didn't know that at all. Thanks for the info!

I cant seem to figure out how to quote a quote. The question seems answered but there is one little caveat I have ran into in the past when selling a lease. So basically if I lease a car and someone wants to buy it from me, the way that it works with some manufacturers is I have to buy the car from the bank THEN resell the car to the new owner. This is not necessarily the best route because now I am on the hook for the sales tax of the residual. I ran into this problem in the past with Honda financial.


BUT a dealer can help with the sale/paperwork. Now what happens here is, you sell the car to the dealership, the dealership sells the car to the arranged buyer. The dealership makes some paper work fee I believe (In the realm of $500). Not all dealerships will do this, and for the most part, this is even a BIGGER pain in the ass then trying to sell a car without a title like the previous user mentioned.

Hope this helps

[jwzimm]

Originally Posted by dongerkim

I cant seem to figure out how to quote a quote. The question seems answered but there is one little caveat I have ran into in the past when selling a lease. So basically if I lease a car and someone wants to buy it from me, the way that it works with some manufacturers is I have to buy the car from the bank THEN resell the car to the new owner. This is not necessarily the best route because now I am on the hook for the sales tax of the residual. I ran into this problem in the past with Honda financial.


BUT a dealer can help with the sale/paperwork. Now what happens here is, you sell the car to the dealership, the dealership sells the car to the arranged buyer. The dealership makes some paper work fee I believe (In the realm of $500). Not all dealerships will do this, and for the most part, this is even a BIGGER pain in the ass then trying to sell a car without a title like the previous user mentioned.

Hope this helps

Not to de-rail this thread further, but I will. If the car is sold to a licensed dealer (i.e. traded in) then the sales tax is not charged. This is because the car is not being re-registered in a private parties name and will be sold again very soon at which point sales tax will be collected. I am not certain if CarMax qualifies but I would expect they do.

[maniz]

Op, what's the latest update? Are you getting the engine rebuilt or replaced?

[dongerkim]

Originally Posted by jwzimm

Not to de-rail this thread further, but I will. If the car is sold to a licensed dealer (i.e. traded in) then the sales tax is not charged. This is because the car is not being re-registered in a private parties name and will be sold again very soon at which point sales tax will be collected. I am not certain if CarMax qualifies but I would expect they do.

yes this is correct. What I meant was my options of selling to a dealer/carmax (business) or private party. There may be some annoying sales tax that needs to be dealt with when paying for the buyout even though you want to sell it. State + manufactures may differ.

[AlpineWhiteF30]

Originally Posted by PapaSmurff82

I was driving my f82 and as I was about to shift from redline in 3rd to 4th i accidentally shifted into second. After I did that the car drove fine then I got a drive-train malfunction code. After this I drove about 20 miles to the dealership while the malfunction was still there. Do you think I'll be fine or should i be concerned? If it was serious I don't see how I would have been able to drive it all the way to the dealership without it breaking down completely.

Don't sound like its too bad. You'll be alright.. Dudes money shift everyday B..

[doug_999]

Originally Posted by AlpineWhiteF30

Don't sound like its too bad. You'll be alright.. Dudes money shift everyday B..

Oh it was bad.