BMW Garage BMW Meets Register Search Today's Posts Mark Forums Read

Go Back   BMW M3 and BMW M4 Forum > BMW F80 M3 / F82 M4 Forum > F80 M3 / M4 Pricing, Ordering, European Delivery

Post Reply
 
Thread Tools Search this Thread
      09-27-2021, 04:43 PM   #1
spdrcrgtr
Lieutenant
114
Rep
482
Posts

Drives: BMW M4 Heritage
Join Date: Nov 2012
Location: Los Angeles

iTrader: (1)

Convert lease to purchase

Does anyone have any experience converting a lease to purchase about 1 year into a current lease?
Appreciate 0
      09-28-2021, 03:05 AM   #2
AlterZgo
Lieutenant Colonel
1538
Rep
1,665
Posts

Drives: 23 X3 M40i, 21 911S, 24 Taycan
Join Date: Sep 2010
Location: Gilbert, AZ

iTrader: (0)

Yes. It's exactly the same as paying off a car loan. Log into your BMW account online and it will show you the payoff. Just send them the payoff and they will send you the title. Alternatively, get a loan and have the bank or whoever you borrow the money from pay off the car and BMW will send the bank the title to the car. Once you payoff the loan, the bank sends you the title.

Since you live in California, you will have to pay the sales tax on the remaining balance owed on the car to the California DMV so factor that cost into purchasing your leased car.
Appreciate 0
      09-29-2021, 11:30 AM   #3
spdrcrgtr
Lieutenant
114
Rep
482
Posts

Drives: BMW M4 Heritage
Join Date: Nov 2012
Location: Los Angeles

iTrader: (1)

Can BMW financial convert it or do I need go out and get an external car loan?
Appreciate 0
      09-29-2021, 01:07 PM   #4
D_SheerDrivingPleasure
Captain
D_SheerDrivingPleasure's Avatar
United_States
1081
Rep
912
Posts

Drives: F80
Join Date: Aug 2020
Location: NYC

iTrader: (0)

Quote:
Originally Posted by spdrcrgtr View Post
Can BMW financial convert it or do I need go out and get an external car loan?
You can get lease buyout financing from lots of sources. B of A is supposed to be good and I hear people using their credit unions but I recommend going to BMW. They are currently providing 2.44% for up to 60 months for top tier credit. By comparison, B of A is ~3.09% for its platinum rewards members.

That's dirt cheap money. And, you can finance the entire buyout, including sales taxes. More $ leftover for you track tires.

BMW use a third party called RefiJet to process the loan application. RefiJet puts in the hard sell for the extended warranty and maintenance plans.
Appreciate 0
      09-29-2021, 05:21 PM   #5
spdrcrgtr
Lieutenant
114
Rep
482
Posts

Drives: BMW M4 Heritage
Join Date: Nov 2012
Location: Los Angeles

iTrader: (1)

Thanks for the input guys
Appreciate 0
Post Reply

Bookmarks

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off



All times are GMT -5. The time now is 02:29 AM.




f80post
Powered by vBulletin® Version 3.8.11
Copyright ©2000 - 2024, vBulletin Solutions Inc.
1Addicts.com, BIMMERPOST.com, E90Post.com, F30Post.com, M3Post.com, ZPost.com, 5Post.com, 6Post.com, 7Post.com, XBimmers.com logo and trademark are properties of BIMMERPOST