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      04-13-2021, 09:51 AM   #89
RickFLM4
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Originally Posted by doug_999 View Post
WTH - why would you need an inspection to buy out the car. That's just cray cray!
My thoughts exactly. I sent a note in to BMWFS and here was their response (basically, we can't help it if some dealers are scumbags that want to use the opportunity to sell you more shit). I did call in to BMWFS previously and they told me if I wanted to finance through BMW it had to go through a dealer (some rule specific to FL). But I should be able to just send a check and avoid the dealer.

Thank you for contacting BMW Financial Services. We sincerely apologize for any confusion we may have caused regarding the purchase of your leased vehicle.

Please note, all automobile dealerships are independently owned and operated businesses, and that autonomy affords them the ability to sell third party protection policies, warranties, service plans, etc. As a captive finance company, BMW Financial Services cannot comment or speculate on the products or services sold by your independently owned and operated BMW Center.

If you wish to purchase the vehicle directly from BMW Financial Services, please contact us via telephone at (800) 959-4269. When you call, please be sure to have your current vehicle mileage with you. A representative would be delighted to provide you with a payoff quote or refinance quote and assist with submitting a credit application.

We hope this response has fully addressed your inquiry. If you have further questions, please respond to this message or contact us at (800) 959-4269, Monday through Thursday, 9:00 a.m. to 9:00 p.m. ET, and Friday from 9:00 a.m. to 6:00 p.m. ET.
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      04-13-2021, 01:25 PM   #90
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Quote:
Originally Posted by RickFLM4 View Post
My thoughts exactly. I sent a note in to BMWFS and here was their response (basically, we can't help it if some dealers are scumbags that want to use the opportunity to sell you more shit). I did call in to BMWFS previously and they told me if I wanted to finance through BMW it had to go through a dealer (some rule specific to FL). But I should be able to just send a check and avoid the dealer.
It might be that I'm getting older and crankier... but I'd devise a plan to make the dealer come to your house.

"Gosh, I would love to get an inspection, but with my leg messed up, I can't drive now. Could you come to my house please?"

Then don't answer the door.

buabhabhabhahbahbhahbha

sorry. I'm bad.
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      04-13-2021, 01:48 PM   #91
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Originally Posted by doug_999 View Post
It might be that I'm getting older and crankier... but I'd devise a plan to make the dealer come to your house.

"Gosh, I would love to get an inspection, but with my leg messed up, I can't drive now. Could you come to my house please?"

Then don't answer the door.

buabhabhabhahbahbhahbha

sorry. I'm bad.
Well, I guess I must be getting older too because that sounds like a great idea. When he calls back again, I may try it.
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      05-04-2021, 05:47 PM   #92
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I have a 2018 340i lease which is going to end in July, with a residual of ~$34.5k and I am considering buying it out.
Looking at the recent posts, I don't see much hope of getting any customer rebate from BMWFS.
I am thinking to finance the buyout with 20k down. Do I need to go via the dealer for this?
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      05-04-2021, 10:07 PM   #93
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Originally Posted by sushmit1990 View Post
I have a 2018 340i lease which is going to end in July, with a residual of ~$34.5k and I am considering buying it out.
Looking at the recent posts, I don't see much hope of getting any customer rebate from BMWFS.
I am thinking to finance the buyout with 20k down. Do I need to go via the dealer for this?
The dealer would be the easiest but they will make money off of you.
You can always find a lender on your own just let them know your intentions and see if they have a refinance loan for you Credit Unions usually have the best rates. Just get your total payoff including all fees work out a payment plan with the new lender and that’s what you finance from them. They issue you a check payed to bmwfs you send it to them and they will issue the title to the bank. Banks usually have a procedure on this types of transactions. good luck!
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      05-22-2021, 02:18 PM   #94
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Sent in check to BMWFS yesterday to buy my F83 as lease is ending in a few weeks.

Today I got Apple CarPlay and moved my phone to the center console, where I learned I could have been using wireless charging for the past 3 years. I knew car was equipped but had in my head I needed some special phone case for it to work and guess I never tried it before today lol.
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      Yesterday, 02:18 PM   #95
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Quote:
Originally Posted by scott13 View Post
More GREAT info. Many thanks.

For full disclosure, the way this started for me was...

I told the dealer that I was interested in the option of buying out the lease, but didn't know how that process worked and would like to see the details. I didn't ask for any sort of discount on the residual and I also didn't specify whether I wanted to go through them or directly through BMW FS, largely because I didn't realize going directly through BWM FS was an option. They just presented me with their "deal" which was the full residual price plus >$500 in nebulously defined fees ($335 documentation fee + $250 safety check fee + to be determined repair costs). They also included the cost of state sales tax and the standard $135 registration and title fee, but both of those make perfect sense to me.
I'm comfortable with paying the full residual, especially since it happens to be right about in the range for market value around here (according to KBB). Knowing what I know now (thanks to everyone here), I'm planning on either going through BMW FS and just handle everything myself OR see if the dealer is willing to waive the various fees and potentially pass on some benefit they'll realize by purchasing the car on my behalf, maybe in the form of a nice discount on extended warranty or something like that. That feels like a fair ask on my part since I feel like they opened the door to that conversation by presenting their way as "THE" way this is done.
Prior to COVID, BMW FS was frequently offering discounts on certain models on the residual. When you get within 60-90 days of your lease end, check on your “payoff” price on the FS website. It’s worth taking a look. I know for a fact that the dealer is charged a premium by BMW if they sell a leased car to the original leasee. They can’t avoid it and can’t make a profit, which is why it’s so difficult. After COVID, things tightened up due to the rising demand for pre-owned cars. The previous poster is correct that. Dealer can usually purchase a leased vehicle (especially a garden variety non “M” vehicle) for much less than your residual. Let’s face it, BMW doesn’t want those cars, they want to sell them, and the easiest, cheapest way for them to do that is make it attractive for a dealer to purchase and re-sell them. But if, for example, a dealer already has a boatload of 3 series on their lot, they’re going to send cars back. What BMW started to do a couple years ago is offer the original leasee a discount too. They will not negotiate, but check with them when your lease is up. Can’t hurt.
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      Yesterday, 02:32 PM   #96
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Quote:
Originally Posted by RickFLM4 View Post
Sent in check to BMWFS yesterday to buy my F83 as lease is ending in a few weeks.

Today I got Apple CarPlay and moved my phone to the center console, where I learned I could have been using wireless charging for the past 3 years. I knew car was equipped but had in my head I needed some special phone case for it to work and guess I never tried it before today lol.
How did you end up buying your lease? Did you have to go through a dealer since you are in FL?
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      Yesterday, 02:40 PM   #97
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How did you end up buying your lease? Did you have to go through a dealer since you are in FL?
I sent BMWFS a cashier’s check, they returned the title with a bill of sale and I had a tag agency process the title transfer and registration update. Avoided the dealer completely.
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      Yesterday, 03:58 PM   #98
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Quote:
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Quote:
Originally Posted by Tuscan View Post
How did you end up buying your lease? Did you have to go through a dealer since you are in FL?
I sent BMWFS a cashier’s check, they returned the title with a bill of sale and I had a tag agency process the title transfer and registration update. Avoided the dealer completely.
Thanks for the response. I wonder how BMWFS by-pass the dealers. Other brands say you have to buy your lease through a dealer due to a FL law.
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      Yesterday, 04:12 PM   #99
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Thanks for the response. I wonder how BMWFS by-pass the dealers. Other brands say you have to buy your lease through a dealer due to a FL law.
Audi Financial Services told me I had to go through a dealer because they were not a FL dealer back in 2013. Then dealers wanted to charge me more than residual + a fee to buy it out, which is how I ended up with my first M4 - I was so pissed at Audi. I didn’t have that issue with BMWFS. Just filled out the paperwork from the website and sent it in with the check. That said, I didn’t finance it so maybe that’s were it gets trickier because I originally considered financing it and when I called BMWFS they suggested I go see a dealer.

The real question is how are manufacturer financial captives allowed to enter into a contract with a consumer that contains a buyout option at a fixed price if they are unable to legally fulfill those terms? To me, it’s absurd to require a consumer to pay anything to a dealer to buy a car they already have a contractual right to purchase at a set price. I was able to originally lease my current car through a dealer in CA and people buy cars out of state all the time. So ridiculous to me buying out a lease should be different.
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      Today, 08:41 AM   #100
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I think I have a few thousand of equity in my lease so if I dont buy it at RV then I will see if I can make a few bucks selling it. I called a local used call dealer about buying it and they said they need to call BMW FS to get the dealer buyout. Guy asked me to provide my vin, home address, BMW FS account # and last 4 of my SS#. don't love sharing this info.
anyone know how I can determine the dealer buyout price on my own? thx
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      Today, 08:54 AM   #101
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I think I have a few thousand of equity in my lease so if I dont buy it at RV then I will see if I can make a few bucks selling it. I called a local used call dealer about buying it and they said they need to call BMW FS to get the dealer buyout. Guy asked me to provide my vin, home address, BMW FS account # and last 4 of my SS#. don't love sharing this info.
anyone know how I can determine the dealer buyout price on my own? thx
Try calling BMWFS and asking them the best way to do that without sharing personal info.
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      Today, 12:43 PM   #102
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Quote:
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Quote:
Originally Posted by D_SheerDrivingPleasure View Post
I think I have a few thousand of equity in my lease so if I dont buy it at RV then I will see if I can make a few bucks selling it. I called a local used call dealer about buying it and they said they need to call BMW FS to get the dealer buyout. Guy asked me to provide my vin, home address, BMW FS account # and last 4 of my SS#. don't love sharing this info.
anyone know how I can determine the dealer buyout price on my own? thx
Try calling BMWFS and asking them the best way to do that without sharing personal info.
thx. FS was closed today. Figured I'd asked here first.
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