2017 M4 Lease End help

[MadBeamer]

Hello,

My M4 is two months away from lease end. It's in immaculate condition and has only 23k miles on it. Due to a job change I didn't drive it as much I originally planned so I am falling very short on my 45k lease mileage.

KBB shows a trade in value of $46k (average) and BMW shows my residual at $41k.

What options do I have other than returning the car and getting tiny credit for low mileage.

Thank you all in advance!

[r0wr]

Originally Posted by MadBeamer

Hello,

My M4 is two months away from lease end. It's in immaculate condition and has only 23k miles on it. Due to a job change I didn't drive it as much I originally planned so I am falling very short on my 45k lease mileage.

KBB shows a trade in value of $46k (average) and BMW shows my residual at $41k.

What options do I have other than returning the car and getting tiny credit for low mileage.

Thank you all in advance!

Buy it

[N1rve]

Originally Posted by MadBeamer

Hello,

My M4 is two months away from lease end. It's in immaculate condition and has only 23k miles on it. Due to a job change I didn't drive it as much I originally planned so I am falling very short on my 45k lease mileage.

KBB shows a trade in value of $46k (average) and BMW shows my residual at $41k.

What options do I have other than returning the car and getting tiny credit for low mileage.

Thank you all in advance!

You buy it at $41K, then you sell it at $46K. Then you pocket $5K for that mileage difference.

[visi107]

Originally Posted by N1rve

You buy it at $41K, then you sell it at $46K. Then you pocket $5K for that mileage difference.

That's more hypothetical. Don't forget you have to pay sales tax on the 41K and so the price difference is less, assuming you can actually get the KBB value of 46K.

Go around and ask dealers for a trade in value a month before you trade it in so you have an idea of the actual price.

[jmg]

Go to Carmax and see what they offer. They have surprised me in the past. I'm wondering though, how much is the miles credit?

[WESTCOASTTRADING]

oh definitely buy it for sure.

[///M4ster Yoda]

Originally Posted by jmg

Go to Carmax and see what they offer. They have surprised me in the past. I'm wondering though, how much is the miles credit?

The miles credit is completely ridiculous at $300. We just returned my wife's 340 in a couple months back with 15000 "extra" miles. That's all they give.

[MadBeamer]

Originally Posted by 10biie89

oh definitely buy it for sure.

Any options to workout an extended warranty or maintenance with the dealer?

[MadBeamer]

Originally Posted by ///M4ster Yoda

The miles credit is completely ridiculous at $300. We just returned my wife's 340 in a couple months back with 15000 "extra" miles. That's all they give.

You guys didn't want to buy it?

[///M4ster Yoda]

Originally Posted by MadBeamer

You guys didn't want to buy it?

Nope. I looked into buying it then reselling it but once you factor the taxes that need to be paid it wasn't worth it. Plus we have an 8 month old and the wifey wanted an SUV. I'm not an SUV fan (don't get Americans infatuation) but I gave in. She's loves the ///M cars and is cool with me driving my "race car" so I let her have the mommy mobile

[MadBeamer]

Any advice around being able to workout a certified preowned back from the dealership?

[WESTCOASTTRADING]

Originally Posted by MadBeamer

Any options to workout an extended warranty or maintenance with the dealer?

oh they will try to sell all of the options they can sell it to you when you are trying to buy out your lease end.
Unless you absolutely love your car try how much you can actually make some money since your market value of the car is well above the residual.
I would love to be in your shoes

[mapster37]

i would go to carmax and see what theyll give you. i agree it sucks that we dont get any kind of credit for mileage not used considering we pay for it......

[MadBeamer]

Originally Posted by mapster37

i would go to carmax and see what theyll give you. i agree it sucks that we dont get any kind of credit for mileage not used considering we pay for it......

Do anyone know if Carmax can handle the entire closing if the deal? Like do I have to pay and buy it out before they can? I thought only I was able to buy the car at the end...

[AWE46M3]

Originally Posted by MadBeamer

Do anyone know if Carmax can handle the entire closing if the deal? Like do I have to pay and buy it out before they can? I thought only I was able to buy the car at the end...

carmax will handle everything and give you a check if there is equity. not sure if carvana exist out there but heard their quotes are not bad either, u can obtain one on their website.

[Oswiff]

Originally Posted by MadBeamer

Do anyone know if Carmax can handle the entire closing if the deal? Like do I have to pay and buy it out before they can? I thought only I was able to buy the car at the end...

Unsure of Carmax but I know Vroom will buy the car and will just cut you a check if it's more than the payoff.
It's really simple, all you have to do is upload some photos onto their website and they send you a quote - you either accept or not and if you don't, they don't bother you again.
If you accept, they fedex you paperwork and you send it back. Then they send a tow truck to take your car within a week or so.
I've sold an Audi s3 and my brother sold an ml350 and he got $5k back.

[Draper]

FYI, the miles credit maxes out at $300 and is only good if you enter into a new contract with BMWFS. Regardless of miles, if you enter a new lease they will also waive the $350 disposition fee.

I'm in the same boat. My lease is up in 2 weeks, and I'm 15K under miles.

[MadBeamer]

I am at the point of either Carmax or buy it. Leaning to buy it as I don't have another car that I like enough to pay more $. My only concern is reliability. It's been great but great is because I had two wried issues taken care of by warranty.

1. My AC stopped working at around 15k miles. They said they replaced the compressor , I didn't pay much attention since I had no plan to keep it beyond the lease at that point

2. At 20k my front strut (left) started making a loud clank under braking and they had to replace it

So... it's not even been completely bulletproof .. I am a little worried buying it out and keeping it long term

[M3GymNut]

Originally Posted by MadBeamer

I am at the point of either Carmax or buy it. Leaning to buy it as I don't have another car that I like enough to pay more $. My only concern is reliability. It's been great but great is because I had two wried issues taken care of by warranty.

1. My AC stopped working at around 15k miles. They said they replaced the compressor , I didn't pay much attention since I had no plan to keep it beyond the lease at that point

2. At 20k my front strut (left) started making a loud clank under braking and they had to replace it

So... it's not even been completely bulletproof .. I am a little worried buying it out and keeping it long term

I understand your concerns about the car. This 2 issues seem kind of minor and were able to get fixed quickly I assume. If you feel that you will be uneasy owning the car sell it and get another one. You're in the positive so you have more going for you.

[N1rve]

Originally Posted by MadBeamer

I am at the point of either Carmax or buy it. Leaning to buy it as I don't have another car that I like enough to pay more $. My only concern is reliability. It's been great but great is because I had two wried issues taken care of by warranty.

1. My AC stopped working at around 15k miles. They said they replaced the compressor , I didn't pay much attention since I had no plan to keep it beyond the lease at that point

2. At 20k my front strut (left) started making a loud clank under braking and they had to replace it

So... it's not even been completely bulletproof .. I am a little worried buying it out and keeping it long term

That's not too bad in terms of repairs. My last car was a nightmare!

I had the following replaced:

1) Rocker Arms was scaring camshafts (Engine Needed to be dropped)
2) AVCS sensor oil leak (Engine needed to be dropped)
3) Camshaft, Sprocket, and ECU replacement due to CEL and jump in timing (Engine needed to be dropped)
4) ABS Actuator Failure (loss of ABS Brake and car would not start)
5) Driver window alignment arms replaced due to scratching of Driver Window
6) Driver Window replaced due to scratch
7) ECU needed reflash - Idle dropped to below 500 and caused stalling problems (Car was automatic)
8) Replaced the battery 3 times within 5 years

This was a Scion FR-S made by Subaru. POS....

[MadBeamer]

Originally Posted by N1rve

That's not too bad in terms of repairs. My last car was a nightmare!

I had the following replaced:

1) Rocker Arms was scaring camshafts (Engine Needed to be dropped)
2) AVCS sensor oil leak (Engine needed to be dropped)
3) Camshaft, Sprocket, and ECU replacement due to CEL and jump in timing (Engine needed to be dropped)
4) ABS Actuator Failure (loss of ABS Brake and car would not start)
5) Driver window alignment arms replaced due to scratching of Driver Window
6) Driver Window replaced due to scratch
7) ECU needed reflash - Idle dropped to below 500 and caused stalling problems (Car was automatic)
8) Replaced the battery 3 times within 5 years

This was a Scion FR-S made by Subaru. POS....

I thought that was your M4, scared me !!! Lol

[N1rve]

Originally Posted by MadBeamer

I thought that was your M4, scared me !!! Lol

LOL. We will see what happens with the M4....

But yup, terrible build quality on Toyota/Subaru's part!