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View Full Version : Buying my car off of lease!


bajanjack
08-04-2012, 11:51 AM
The 3 year lease on my 2010 Carbon Black 535xi msport ends Oct 19. I'm bringing it in Monday to purchase it. The deal all in is $41k+ which includes CPO and maintenance til 100k miles. And- I get to forgo my last 2 lease payments of $880 each. My car has 42k miles and is in excellent condition. Seems like a great deal to me!

Kamdog
08-04-2012, 12:30 PM
The 3 year lease on my 2010 Carbon Black 535xi msport ends Oct 19. I'm bringing it in Monday to purchase it. The deal all in is $41k+ which includes CPO and maintenance til 100k miles. And- I get to forgo my last 2 lease payments of $880 each. My car has 42k miles and is in excellent condition. Seems like a great deal to me!

If you're happy, I'm happy. :thumbup:

RipSnort535i
08-04-2012, 01:57 PM
Nobody knows your car better than you. Any pics?

yahtzee
08-04-2012, 02:53 PM
The 3 year lease on my 2010 Carbon Black 535xi msport ends Oct 19. I'm bringing it in Monday to purchase it. The deal all in is $41k+ which includes CPO and maintenance til 100k miles. And- I get to forgo my last 2 lease payments of $880 each. My car has 42k miles and is in excellent condition. Seems like a great deal to me!

See if they will show you the buy sheet that BMW provides them.

bajanjack
08-04-2012, 09:47 PM
See if they will show you the buy sheet that BMW provides them.

I will ask, thanks I also have the Dinan Stage 2 which I guess I will keep, I do have some concern because the warranty goes to 50k for that as I understand it.

l1tech
08-05-2012, 07:35 AM
Do they want $41,000 on top of the $29,000+ that you have already given them?

luigi524td
08-05-2012, 10:14 AM
So you're picking up the CPO and Extended Maintenance Package and they're giving you back 2 lease pmts. Does the $41K include the 7% sales tax too? Couple of suggestions - if your tires are > 50% you could get them to replace them as part of the CPO program. I'd say the same for brakes but those will be covered in the Maintenance Program.

The number could = a good deal for you. There are BMW CPO benefits that play in too - like a low-interest loan from BMW Finance.

Last question - what was the buy out number (LEPO = lease end purchase option) when you originally leased your '10?

TRS550
08-05-2012, 12:34 PM
Glad you get to keep your car.

Now were you a good boy and change your oil every 5-7.5K :thumbup:.......

....or did you service it IAW the CBS system???? :eek:

bajanjack
08-05-2012, 12:44 PM
So you're picking up the CPO and Extended Maintenance Package and they're giving you back 2 lease pmts. Does the $41K include the 7% sales tax too? Couple of suggestions - if your tires are > 50% you could get them to replace them as part of the CPO program. I'd say the same for brakes but those will be covered in the Maintenance Program.

The number could = a good deal for you. There are BMW CPO benefits that play in too - like a low-interest loan from BMW Finance.

Last question - what was the buy out number (LEPO = lease end purchase option) when you originally leased your '10?

The LEPO is $36431, ((which is what I'm paying, less the two months lease credits), the warranty ext is $2200, and extended maintenance $2000+. The buyout doesn't include sales tax. I will check out the loan cost, I intend to use my home equity loan at 2.24%. It turns out I had to put 4 tires on last month after I got a flat with my Dunlop run flats. Thanks for your suggestions.

bajanjack
08-05-2012, 12:46 PM
Glad you get to keep your car.

Now were you a good boy and change your oil every 5-7.5K :thumbup:.......

....or did you service it IAW the CBS system???? :eek:

I was not that smart through the first 18k miles, but got smart after that and did change after 7k interval.

TRS550
08-05-2012, 12:52 PM
I was not that smart through the first 18k miles, but got smart after that and did change after 7k interval.

Good man. Change it religiously. You'll be alright.

Another hint. Change your coolant and all other fluids every 30K. Tranny, rear diff, brake fluid.

bajanjack
08-05-2012, 12:57 PM
Good man. Change it religiously. You'll be alright.

Another hint. Change your coolant and all other fluids every 30K. Tranny, rear diff, brake fluid.

Thanks- my work commute is gonna increase big time next June and I will need my baby to last for 100k!

bajanjack
08-05-2012, 01:12 PM
Do they want $41,000 on top of the $29,000+ that you have already given them?

Haha, that's the "penalty" when you finance a $70k car and decide to buy it!

l1tech
08-05-2012, 05:41 PM
I think your dealership is going to love you if you go through with it. Personally I would make a deal on a new one, my dealership has a few loaded new m sport package ones that I know they would deal on. Another thing I would do is leave the house money alone, there are plenty of places out there willing to give money away at better rates than 2.24 if you have good credit.

bajanjack
08-05-2012, 06:33 PM
I think your dealership is going to love you if you go through with it. Personally I would make a deal on a new one, my dealership has a few loaded new m sport package ones that I know they would deal on. Another thing I would do is leave the house money alone, there are plenty of places out there willing to give money away at better rates than 2.24 if you have good credit.

Believe me, I was tempted on a 2013 550 msport-my dealer is terific and I know I could get a great deal-but......I'll be putting over 20k miles on a year starting in June and that will last for 3 years-so- my 2010 is a rocket with the stage 2 and I really enjoy it. I'll have 3 years to think about my 2016 550!

z06bigbird
08-09-2012, 10:17 PM
Go "shopping" at a diff dealer. It is typically cheaper to secure a new vehicle than to buy out the off lease vehicle.

To prove my point, go to any dealer and ask what the lease rate would be for a one year old vehicle (with zero miles on it). The residual (even on last year/zero mileage model) is so low that the lease or purchase price will exceed the monthly payments of a new vehicle.

Phoenix1
08-11-2012, 08:01 AM
The 3 year lease on my 2010 Carbon Black 535xi msport ends Oct 19. I'm bringing it in Monday to purchase it. The deal all in is $41k+ which includes CPO and maintenance til 100k miles. And- I get to forgo my last 2 lease payments of $880 each. My car has 42k miles and is in excellent condition. Seems like a great deal to me!
----------------------------------------------------------------------------------------------------------I

I installed Dinan S2 on my car when new and bought it off lease. Resid on lease was $36K+, I bought it for Under $32K (auction price +~10%). I did not go through BMW finance to get a buyout, but got the same low quotes from 3 dealers. Never considered the maintenance since I only drive ~12K per year

BMW NA specifically told me that I could CPO the car or buy any of their warranties, but they had the right to deny any claim they felt was due to the Dinan software - even if I had the ECU software programmed back to factory original. Decided to not buy their warranty.

Buyer beware...

bajanjack
08-11-2012, 07:56 PM
----------------------------------------------------------------------------------------------------------I

I installed Dinan S2 on my car when new and bought it off lease. Resid on lease was $36K+, I bought it for Under $32K (auction price +~10%). I did not go through BMW finance to get a buyout, but got the same low quotes from 3 dealers. Never considered the maintenance since I only drive ~12K per year

BMW NA specifically told me that I could CPO the car or buy any of their warranties, but they had the right to deny any claim they felt was due to the Dinan software - even if I had the ECU software programmed back to factory original. Decided to not buy their warranty.

Buyer beware...

Thanks, your point is good, I just found out that BMW will not CPO any car which had the Dinan installed at any time, even if it's uninstalled. The equivalent warranty is a lot more expensive. Really disappointing.

Maini
08-11-2012, 10:33 PM
I purchased my 2010 535xi fully loaded as per my signature with 19K miles on it in Sept 2011 for 38.8K
It has a $1000 worth radar detector installed too. Not a CPO but has warranty till Oct 2013

bajanjack
08-12-2012, 01:18 PM
I purchased my 2010 535xi fully loaded as per my signature with 19K miles on it in Sept 2011 for 38.8K
It has a $1000 worth radar detector installed too. Not a CPO but has warranty till Oct 2013

Seems like you did better than me. My buyout price when I credit the last 2 lease payments I don't have to make is approx $35k. My mileage is a lot higher and it is a year later. My car does have the msport option which seems to be the only additional option over yours.

Maini
08-12-2012, 04:21 PM
I would say negotiate harder with the Dealership... many great cars on Autotrader.com which you can reference and show them the price you could get them at and get them to come down further...

bajanjack
08-12-2012, 07:17 PM
I would say negotiate harder with the Dealership... many great cars on Autotrader.com which you can reference and show them the price you could get them at and get them to come down further...

Thanks, I appreciate the input- $35k net is the best I could do. The CPO at 2k is not bad, and I got .9% financing(thx to 1tech). . All in I'm ok with it.