[Z4Racer1]

My lease ended this August and I decided to buy it out at the end. It has less than 15K miles. Now I need to get some tires and a couple of scratches on the front facia fixed. Other than that it's in perfect condition. Stereo upgrade in the future too.

[Westside Guy]

Originally Posted by Z4Racer1

My lease ended this August and I decided to buy it out at the end. It has less than 15K miles. Now I need to get some tires and a couple of scratches on the front facia fixed. Other than that it's in perfect condition. Stereo upgrade in the future too.

Out of curiosity what was the buy out price?

[Horseman]

Outstanding! Congrats!

[RigaTony1982]

My Z4 is the first car I purchased since 2007. I had been leasing because I like to get a new car every few years, so it made more sense financially.

I plan on keeping this one for a long time. Even if I’d need another car, I’d just add versus replace

[Z4Racer1]

Originally Posted by Westside Guy

Out of curiosity what was the buy out price?

The lease residual was $43500, which I made the dealership follow. They initially tried to charge me a $1000 over. Residual value was lower than current market conditions.

[Bimmerfun82]

Originally Posted by Z4Racer1

The lease residual was $43500, which I made the dealership follow. They initially tried to charge me a $1000 over. Residual value was lower than current market conditions.

Nice move! Gorgeous car. Also I would recommend AC Schnitzer springs if you want a tighter, sportier ride.

[Westside Guy]

Originally Posted by Z4Racer1

The lease residual was $43500, which I made the dealership follow. They initially tried to charge me a $1000 over. Residual value was lower than current market conditions.

Thanks, the reason why I am asking is because my wife's 2021 228's lease is ending the beginning of January, she only has 9,000 miles on the car and the residual value is only $23,774 and she is being contacted by the dealer. The current market conditions are definitely higher.

I was wondering whether your dealer tried to play any games on the price. What was the excuse (BS story) that they gave to add $1,000 to total?

[BlankProc]

Congrats on the purchase! We did the same with my wife’s 2020 540i when it came off lease earlier this year. Given the market, residual was a great deal.

As of my dealer quote a few weeks ago, for MSRP of ~72ish looking at around 39kish for residual now on a 10k mi / 36 mo.

[RigaTony1982]

Originally Posted by Westside Guy

Thanks, the reason why I am asking is because my wife's 2021 228's lease is ending the beginning of January, she only has 9,000 miles on the car and the residual value is only $23,774 and she is being contacted by the dealer. The current market conditions are definitely higher.

I was wondering whether your dealer tried to play any games on the price. What was the excuse (BS story) that they gave to add $1,000 to total?

If you're not interested in buying it out, try and find a BMW dealer that will buy you out of the lease and pocket the difference between what she owes and what they'll give you. I did this on my M340i lease, as the market value was way higher than the residual. This is how I got the Z4!

[Westside Guy]

Originally Posted by RigaTony1982

If you're not interested in buying it out, try and find a BMW dealer that will buy you out of the lease and pocket the difference between what she owes and what they'll give you. I did this on my M340i lease, as the market value was way higher than the residual. This is how I got the Z4!

As mentioned it has only has 9,000 miles and the residual value is pretty low at only $23,774 so she is really considering a buyout. I have seen similar low mileage 2021 FWD 228i GC's doing a nationwide search on BMW's site being listed in the $30-33,000 range.

If she does buyout the car, do you think it pays to purchase an extended maintenance plan from BMW and if yes, which one?

[RigaTony1982]

Originally Posted by Westside Guy

As mentioned it has only has 9,000 miles and the residual value is pretty low at only $23,774 so she is really considering a buyout. I have seen similar low mileage 2021 FWD 228i GC's doing a nationwide search on BMW's site being listed in the $30-33,000 range.

If she does buyout the car, do you think it pays to purchase an extended maintenance plan from BMW and if yes, which one?

Because I've leased for the last 15+ years, I'm not sure on this value-wise. However, I have seen some dealers on the boards here selling the plans for way cheaper than what a normal dealer does. They are valid at any dealer, so may be a good option to look into. Let me see if I can find the person on the forums who sells them, and you could reach out. I know he was active in the 3-series forums.

Edit: Here you go. Check out this thread if you're interested. https://f30.bimmerpost.com/forums/sh....php?t=1670964

[Westside Guy]

Originally Posted by RigaTony1982

Because I've leased for the last 15+ years, I'm not sure on this value-wise. However, I have seen some dealers on the boards here selling the plans for way cheaper than what a normal dealer does. They are valid at any dealer, so may be a good option to look into. Let me see if I can find the person on the forums who sells them, and you could reach out. I know he was active in the 3-series forums.

Thanks so much!

[RigaTony1982]

Originally Posted by Westside Guy

Thanks so much!

You're welcome. Just edited my first post. Guy has a good reputation and is legit from my understanding.

[Westside Guy]

Originally Posted by RigaTony1982

You're welcome. Just edited my first post. Guy has a good reputation and is legit from my understanding.

Thanks, there are 5 months left on her lease and I will definitely contact them and see what my options are.

Also do you know if she can finance the buyout with BMWFS who holds the lease?

[RigaTony1982]

Originally Posted by Westside Guy

Thanks, there are 5 months left on her lease and I will definitely contact them and see what my options are.

Also do you know if she can finance the buyout with BMWFS who holds the lease?

I'm 95% certain yes, you can do this. May not hurt to shop around for rates though. I've seen some brutal ones lately (I work in finance for a bank).

[Westside Guy]

Originally Posted by RigaTony1982

I'm 95% certain yes, you can do this. May not hurt to shop around for rates though. I've seen some brutal ones lately (I work in finance for a bank).

Ouch, that was what I was afraid of!

[Z4Racer1]

Originally Posted by Westside Guy

Thanks, the reason why I am asking is because my wife's 2021 228's lease is ending the beginning of January, she only has 9,000 miles on the car and the residual value is only $23,774 and she is being contacted by the dealer. The current market conditions are definitely higher.

I was wondering whether your dealer tried to play any games on the price. What was the excuse (BS story) that they gave to add $1,000 to total?

They claimed it was a lease buyout fee but there is no mention of it in the contract. You will have to pay a disposition fee to BMW finance which is $350.

[RigaTony1982]

Originally Posted by Z4Racer1

They claimed it was a lease buyout fee but there is no mention of it in the contract. You will have to pay a disposition fee to BMW finance which is $350.

Which seems kind of ridiculous. Are you sure this isn't the dealer making this up and adding it? The disposition fee on a lease is usually there to cover the costs of prepping the car you're turning in for resale. Since no one is reselling it, there should be no fee.

When I sold my M340i lease to a BMW dealer early, I did not have to pay this fee.

[StanDiego]

Originally Posted by Westside Guy

Thanks, there are 5 months left on her lease and I will definitely contact them and see what my options are.

Also do you know if she can finance the buyout with BMWFS who holds the lease?

You might want to look here:

https://www.bimmerfest.com/forums/ask-a-bmw-dealer.20/

[Westside Guy]

Originally Posted by StanDiego

You might want to look here:

https://www.bimmerfest.com/forums/ask-a-bmw-dealer.20/

Thanks for the link, I found this thread that covers the subject.

https://www.bimmerfest.com/threads/b...ealer.1434028/

Edited to add: it appears that people looking to buyout their leases are being forced to go to their dealers in 16 states (including Florida) and are getting ripped off with crazy fees well above the residual price written in the contract!

[Westside Guy]

Sorry for going slightly OT but here are some articles on how dealerships aka stealerships in Florida are trying to charge ridiculous fees that were not written in the lease agreement. Apparently this has happened at many different car brands in the state.

https://www.abcactionnews.com/money/...t-their-leases

https://www.sun-sentinel.com/2022/11...orney-general/

[0_steve]

Originally Posted by Westside Guy

Thanks for the link, I found this thread that covers the subject.

https://www.bimmerfest.com/threads/b...ealer.1434028/

Edited to add: it appears that people looking to buyout their leases are being forced to go to their dealers in 16 states (including Florida) and are getting ripped off with crazy fees well above the residual price written in the contract!

This is true. Florida is a state that forces you to use a dealer. Unfortunately Florida is also one of the highest dealer fee states. I bought out my X5 lease early in North Carolina (leased in Georgia, FL resident...) and didnt pay a fee.

Also used a federal credit union for the funding because they were about 3% less than BMW. Overall it cost me nothing. Def shop it.