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      08-10-2019, 12:52 AM   #23
paliknight
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OP, if you trade it in, you'll actually get a tax break in most states and have positive equity.
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      08-11-2019, 10:13 AM   #24
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OP, if you trade it in, you'll actually get a tax break in most states and have positive equity.
Trade it in as in buy it out? Sorry didn't understand
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      08-11-2019, 07:48 PM   #25
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OP, if you trade it in, you'll actually get a tax break in most states and have positive equity.
Trade it in as in buy it out? Sorry didn't understand
If you trade it in for another vehicle, they take it as if it was financed. So they'd pay off whatever the buyout is then cut you a check for the rest. Depending on their appraisal.
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      08-18-2019, 08:00 PM   #26
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If you trade it in for another vehicle, they take it as if it was financed. So they'd pay off whatever the buyout is then cut you a check for the rest. Depending on their appraisal.
In most states, you're not paying tax on the residual so there really isn't a tax incentive to trade in vs simple lease turn in.

If your trade in value is above the residual/buyout then you can capture some equity, but this doesn't happen very often with BMW since they tend to lease rather aggressively.
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      08-19-2019, 01:06 PM   #27
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If you trade it in for another vehicle, they take it as if it was financed. So they'd pay off whatever the buyout is then cut you a check for the rest. Depending on their appraisal.
In most states, you're not paying tax on the residual so there really isn't a tax incentive to trade in vs simple lease turn in.

If your trade in value is above the residual/buyout then you can capture some equity, but this doesn't happen very often with BMW since they tend to lease rather aggressively.
That makes sense. I know in Texas it's the same for lease/finance/etc where the tax incentive is the difference in price basically.
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      08-20-2019, 11:38 AM   #28
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So here is where I am at with lease end now

Dealership has the car in for the drivershaft recall, so they also worked out the lease end buy out options for me.

The option they provided was to CPO the car , said it needs new tires (it's not below lease end spec but for CPO they want new tires), and would add $4500 above residual. The car is $42,000 in residual + $4500 to CPO + any nonsense dealer fees I may not know yet.

All similar 2017 CPO M4s I've seen on the market are around $54k. So I am assuming coming up to $49.5K to buy the car back (Res+CPO+ Tax).. is worth it? Am I missing anything?

I also asked for the current set of tires to be given back to me so I can use them someday for a track day/tire blowout, etc.

They said (which I don't believe) BMW is only selling the car back to them at residual due to it's market value.

With this dealership I wasn't expecting stellar pricing , and much negotiating at all. They are the type that says here is the price, and if you don't buy they rather loose out on the profit than negotiate. Weird I know... that's why I bought the car from Steve Thomas (David/Jimmy) to begin with.

Considering extended platinum warranty for 7 yrs / 75k miles is another $6250. Getting CPO (which is 6 years total with new tires ) for $4500 seems not too bad

Good / Bad deal?
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      08-20-2019, 12:28 PM   #29
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So after I posted only I realized CPO is only 1 year after factory warranty expiration. So that changes my interest in adding effectively 1yr for $4500 . CPO seems similar to gold extended warranty, not platinum.

More and more it just makes sense to buy the car at Residual $42k, and then buy the warranty separately. I got good prices for the warranty from Steve Thomas compared to the local dealership, so I can always add that separately.

The dealership was straight enough to say buying from BMW FS @4.3% interest will be better than buying from them with $1200 of fees added with slightly lower interest rate.
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      10-11-2020, 05:54 PM   #30
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Reading on old threads. What did you end up doing?
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      10-11-2020, 07:53 PM   #31
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Don't buy a set of tires from the dealership. Buy your own set off of Tirerack.com and just have the dealership install them for you. You'll save a good amount of money on that
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      10-18-2020, 11:50 PM   #32
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Reading on old threads. What did you end up doing?
Old thread, but thanks for asking.

I bought the car directly from BMW , and their BMWFS peoples handled the whole transfer from lease to loan. BMWFS rep actually asked me to hold off a few days because rates were 4.3 with them (my local CU wanted 4.5%) and they expected rates to dip a bit. In a few days it hit 3.7% or something ... I can't recall now, and they locked it in for me. I only had to send some signed paperwork, and the car was mine

Then I call Jimmy at Steve Thomas, and they hooked me up with platinum 75k / 7yr warranty for something like $6800 (BMWFS could only do $9800 for the same bmw warranty)

Overall, I got the car got $40,500 (bmw gave a credit for buying it), and with warranty came to about $47k. Still under $49k-51k book value.

Interestingly KBB still shows $52.5k value for my car a year later. Must be covid supply/demand issues

Love the fact I kept it, added a few minor cosmetics mods to celebrate ownership - spacers, CF exhaust tips, CF rear lip, tinted it (finally) 😀
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Last edited by MadBeamer; 10-18-2020 at 11:59 PM..
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