Lease ending and want to buy

[eRiggs5]

My lease is ending and I am being contacted by everyone in their brother trying to help me with my end of lease process.

Is there anyone in particular I should be using or anyone.

Im being contacted by all my local dealerships including the one I bought the car from. I am also being contacted by Priority 1 Automotive about it as well.

What would you all do?

[jjrandorin]

If you are keeping the car, you dont need to buy from any of them. If you are looking to get a new car, thats what they are contacting you for (not to help you buy your current car).

[eRiggs5]

Originally Posted by jjrandorin

If you are keeping the car, you dont need to buy from any of them. If you are looking to get a new car, thats what they are contacting you for (not to help you buy your current car).

This was the email....

My job is that of a liaison between you and your Client Advisor.

With that being said, I just wanted to remind you that you only have 3 payments remaining on your current BMW M3 lease. So it is time to start really planning for what you want to do next.

First step is setting up a time for you stop by the dealership for a complimentary lease end pre-inspection. At that time our team will review your car for any issues that might need to be addressed prior to lease turn in. The team will measure the tread depth on your tires to make sure that they will pass your final lease turn in inspection. They will inspect the interior and exterior for any damage or excess wear and tear that should be addressed, they will inspect the windshield and headlights for any stars, cracks or stone chips that might require repairs and finally they will check the service records to make sure that all required maintenances have been completed before lease end. This process usually last between 15 to 30 minutes and our customers often tell us that it is the best 15 to 30 minutes that they have invested, the peace of mind that it provides is priceless. Please call me so that we can coordinate a date and time that works for you.

During the call, if you would like, we can go into greater detail about your options at the end of your lease, such as:

· Your lease end purchase option if you decide to keep your car.

· Your ability to sell the car after exercising the purchase option and retaining any profit from such a sale.

· Your ability to just return the car at lease end and walk away, subject of course to any outstanding balances, excess wear and tear charges and the lease disposition fee charged by the lender.

· The possibility of extending your lease on a month to month basis if necessary.

· Your ability to move into a new car and the possibility of utilizing any manufacturer or lender "owner loyalty" programs or any other incentives that may be available.



During your visit to the dealership you might also want to start considering which model or models would more than likely be your choice moving forward. This can be a very exciting time for you and my goal is to see to it that it is just that.

[jjrandorin]

its just an email to get you into a dealership to buy a car. They can not help you save any money off your own leased car, due to the change BMW made in that process last year.

That is the standard lease end "get em in the dealership" email. If you want to buy your car, and want to buy a warranty from a dealership, you can do that. You will not be negotiating with anyone on the price of your own leased car if you buy it.

The specific email above is not even from a salesperson (client advisor) its from someone whose job it is to get you to respond and then match you with a salesperson.

[eRiggs5]

Ok. Thanks man. So contact the dealership I bought it from or any dealership will do? To buy the car...

[jjrandorin]

Originally Posted by eRiggs5

Ok. Thanks man. So contact the dealership I bought it from or any dealership will do? To buy the car...

Under the current process, you only need to contact the dealership if you want to buy a WARRANTY along with buying your car. If you dont want to buy a WARRANTY, simply contact BMW FS (bmw financial services) directly, and skip the dealership.

There is zero benefit to you right now to contact a dealership on the price of your car. The dealership(s) (All of them) will have to sell you the car for the exact same price that BMW FS will offer you on the car directly.

The dealership will "assist" you with buying your car by selling it to you for the same price you can buy it from BMW FS, and adding an extended warranty if you want that.

If you dont, just buy direct from BMW FS, skip the dealership, skip the "have you considered the great deal I can get you on this 2018 M3 we happen to have"? conversations from any dealership.

[eRiggs5]

Considering I have 26k miles on a 36k/36 mo lease. Isn't there a standard warranty that still stands from bmw? Or so I need to consider an ext warranty?

[firedown31]

Originally Posted by eRiggs5

Considering I have 26k miles on a 36k/36 mo lease. Isn't there a standard warranty that still stands from bmw? Or so I need to consider an ext warranty?

Standard warranty is 4 years or 50k miles. So you will have another year of warranty left, if you don't hit the 50k first.

As mentioned you really don't need to go through a dealership to buy out your car. You can send a check directly to BMWFS and they will mail you the title. The dealer should only be used if you want another service they will offer, extended warranty or maintenance package. But you will have to deal with all their BS and sales fees again.

[eRiggs5]

Originally Posted by firedown31

Standard warranty is 4 years or 50k miles. So you will have another year of warranty left, if you don't hit the 50k first.

As mentioned you really don't need to go through a dealership to buy out your car. You can send a check directly to BMWFS and they will mail you the title. The dealer should only be used if you want another service they will offer, extended warranty or maintenance package. But you will have to deal with all their BS and sales fees again.

Thanks man. Really appreciate the help. Always turned leases in and moved on but going to buy to hold me over until the new M3 is available.

[visi107]

Originally Posted by eRiggs5

Thanks man. Really appreciate the help. Always turned leases in and moved on but going to buy to hold me over until the new M3 is available.

You could also try to negotiate a deal on a 2018 lease, it can be hit or miss but some places are willing to discount them a lot bc at this point they are all leftovers, a year old already, and costly to hold on inventory everyday.

[f80er]

Originally Posted by visi107

You could also try to negotiate a deal on a 2018 lease, it can be hit or miss but some places are willing to discount them a lot bc at this point they are all leftovers, a year old already, and costly to hold on inventory everyday.

There are more than 700 new M3s on dealer lots according to cars.com. I am sure if someone wanted to get a deal on lease end they could.

[LAKERS333]

Originally Posted by eRiggs5

My lease is ending and I am being contacted by everyone in their brother trying to help me with my end of lease process.

Is there anyone in particular I should be using or anyone.

Im being contacted by all my local dealerships including the one I bought the car from. I am also being contacted by Priority 1 Automotive about it as well.

What would you all do?

Buy it directly through BMW if you do decide to buy it, will get the best finance rate as dealer will just tack on to the interest rate given through BMW financial.

Also I was able to get a small amount taken off the residual through BMW directly, they offer a special buyout price when you contact them. It was close to 1k for me and will be different for everyone based on car, purchase date, etc..

Another advantage going through BMW in California was that I avoided the Smog Inspection, going through the dealer car has to pass Smog and Safety inspection, I avoided all this going through BMW direct as it does not involve a Third Party. Being that I had modifications this was a huge benefit for me as well.

GL.