Lease buyout

[Sly11]

Hi guys ! is there any way to get out of that insane $1000 charge from dealership when you buy back the lease at the end?

Thanks for the feedback

[White340]

Yeah buy direct from bmw fs

[Sly11]

Anybody done it before ? Because i call and thay told me to go to the dealership 🤷*♂️

[CS328Ci]

I went through this last year when I was buying out my lease.

I called Bmw Financial and they don't allow you to purchase directly. In the past, I was able to buy out directly.

Now, you have to go through your dealer and they make you do a lease inspection for buy out too.

It ridiculous and a total money grab. If I didn't have such low mileage and didn't love my f82, I would have just gave it back and walked away.

[White340]

Is this a Canada only thing or has this happened to someone in the US as well?

[Sly11]

Thank you guys for the feddback so far ! But same as you , i loved my car with the mods i put in (no mechanical problem , no accident and low milleage 32000 km)
plus on don't see myself buying that one of the ugliest car on the market with bucksaw tooth 😂😜 without dct , without carbon fibre draveshaft , without a cheep looking front sway bar and do not forget the rear brake. i'll stop at this 🤦🏻*♂️

[TheBingoBalls]

Originally Posted by Sly11

Hi guys ! is there any way to get out of that insane $1000 charge from dealership when you buy back the lease at the end?

Thanks for the feedback

Assuming licensing/ownership rules are the same as Ontario (seems like it is) you're required to go through a dealership because BMWFS cannot sell you a car directly.

Ownership is unable to go from BMW Financial Services --> Sly11,
Ownership/licensing rules require BMW Financial Services --> Any BMW Dealership --> Sly11

[CS328Ci]

Originally Posted by White340

Is this a Canada only thing or has this happened to someone in the US as well?

Originally Posted by White340

Is this a Canada only thing or has this happened to someone in the US as well?

This is in Canada only. It's different in the US

I saw you posted something in the general forum about this. The OP posted in Canadian forum pertaining to his Canadian lease.

BMW North America and BMW Canada are separate entities and their financial services are different as well. We have different MSRPs, interest rates and residuals and the buyout process is different as well.

[xBoffx]

Interesting. We’ll be facing this in a year’s time. But since our buyout is only $40K I’m not too worried about the $1K. I’d love the chance to make some money from this car except nothing exists that could possibly replace it.

[Lefo]

Different dealership charge different amounts.

One of the dealership said starting beginning of June, you have to deal directly with the dealership that you leased it from.

[xianglongliu]

I will be buying out mine in September as well, that 1k "buyout" charge is something they would never bring to your attention when you sign the lease contract but it is in your contract. If it's not there, you can argue with them not to pay that at all, or they could offer you a discount. But I am sure 99% of the case that number is in your lease contract..somewhere....

[Sly11]

Thank you again with your replies! Deal is done and really happy keeping the car. $1000 BMW lease buyout fee , paid in full ! 😂

[DocL]

Originally Posted by Sly11

Thank you again with your replies! Deal is done and really happy keeping the car. $1000 BMW lease buyout fee , paid in full ! ��

At the end of the day as long as you are happy with keeping the car, the $1k doesn't mean a thing.

Congrats.

[tokic_o]

Originally Posted by Lefo

Different dealership charge different amounts.

One of the dealership said starting beginning of June, you have to deal directly with the dealership that you leased it from.

Wtf?! No way! Thats such a pain in the ass if you ever needed to do a lease transfer or buyout down the road. Which dealership is this?

Also, why would they restrict that? The dealer makes money on the lease buyout fee and lease transfer fees regardless where it was originally leased from lol

[Maitre_Absolut]

Originally Posted by tokic_o

Wtf?! No way! Thats such a pain in the ass if you ever needed to do a lease transfer or buyout down the road. Which dealership is this?

Also, why would they restrict that? The dealer makes money on the lease buyout fee and lease transfer fees regardless where it was originally leased from lol

its not a dealer thing its BMW Canada. Lease transfer is 1500$ lol

[tokic_o]

Originally Posted by Maitre_Absolut

its not a dealer thing its BMW Canada. Lease transfer is 1500$ lol

I'm sure the dealer makes some money each transfer/buyout done too... I got quoted 3 different prices from 3 different GTA dealers for lease transfer ($1500, $1300, $1200) so I'm sure they make some too...