[mechwartz431]

I am interested in anyone's thoughts on my end of lease options. I currently am leasing a 2013 335 convertible, M sport, 6MT. The lease ends 11/16/16. The car still has an open recall for the Takata airbag. I was hoping BMWFS was still offering the special deal they where the lease can be extended for a cost of $150 per month less and a $2500 loyalty certificate could be used on any financial service purchase or future lease. However they are not offering that anymore. The representative said only the "standard" options are available this time. They said they believe they can expedite an airbag "fix "prior to purchase if I choose to purchase it. The residual value is high for this vehicle ($40,200) and significantly above market value. I normally would just re-lease a 2017 convertible, however the 4 series convertible is not offered in 6MT, a deal breaker for me. I have heard that I can shop this vehicle to various dealers and they can get the "dealer only price" directly from BMW FS, and pass some of that savings onto me and CPO the car in the process. What should be my timing on this? Should I wait until the last two weeks before the actual end of the lease? If I get the right price I will purchase this vehicle (market value in 12/16 probably around $35,000 certified). Should I start putting out feelers to dealers now? Also, as I live in Maryland, I have paid the full sales tax on total cap cost on this particular vehicle. If I purchase it through a dealer, do I have to pay sales tax again? Am I eligible for CCA rebate as CPO? I know if I get directly from BMWFS, the $40,200 includes the prior tax paid. Your advice is greatly appreciated. Thanks

 

[David1]

Better to walk away. You can not CPO your own leased vehicle. To do so the dealer will need to take ownership, put it in inventory, put it through the process to get it certified. You will pay sales tax again since it will be like buying any other used car off the lot.

 

[mechwartz431]

Thanks for advice. I have 2 other cars to use for the winter anyway. So at least will save insurance etc for 4 months. I may wait for M240 LCI , as they still offer 6MT. Hopefully MY 2018 is LCI. I'm hoping it will have LED lights and oil temp gauge.

 

[David1]

Thanks for advice. I have 2 other cars to use for the winter anyway. So at least will save insurance etc for 4 months. I may wait for M240 LCI , as they still offer 6MT. Hopefully MY 2018 is LCI. I'm hoping it will have LED lights and oil temp gauge.

Manual as long as it's not all wheel drive. But I don't think the manual has much life left.

 

[mechwartz431]

Sadly yes. That's why I want to hang onto this one. Like the driver input of manual, and paddles just don't do it for me. Very disappointed BMW doesn't offer manual in 4 convertible. Hoping it stays through 2018 M240. I'm fine w RWD, as I have winter beater anyway.

 

[MJBrown62]

Better to walk away. You can not CPO your own leased vehicle. To do so the dealer will need to take ownership, put it in inventory, put it through the process to get it certified. You will pay sales tax again since it will be like buying any other used car off the lot.

Plus, there is still still a stop sale on selling airbag cars. For both BMWFS to sell your car to you, or for dealers to sell it back to you as a used or CPO car.

You will need to contact the sales and/or service department for your dealer and specifically ask for an expedited airbag replacement. This has to happen before you can buy your car from either source.

Michael

 

[ard]

Better to walk away. You can not CPO your own leased vehicle. To do so the dealer will need to take ownership, put it in inventory, put it through the process to get it certified. You will pay sales tax again since it will be like buying any other used car off the lot.

Not entirely true... some dealers WILL do the CPO process for you- and yes, technically those things you describe need to happen- but all in a paperwork process. It is, howver, true that you would pay tax. (As an FYI- I bought a used BMW from a private party- a BMW dealer bought it from him; put it in inventory; ran it through the CPO process AND sold it to me...all while I had a long lunch.)

Some states (like CA) you pay tax anyway, so it isnt a competitive disagvantage of this proecss.

BMW doesnt condone this (cpoing a lease for the leasee to buy), so it takes some hand-holding. Just to be clear.

OP, Id reach out and see what the best deal might be to buy under the lease end buy out. Do keep in mind that many salesmen would rather sell you a new car, so they might not work too hard. If you are clear that it is "this used car today or nothing" it might be a better 'setting of expectations'.

GL

 

[mechwartz431]

I called my local dealership's service dept. they are looking into Takata airbag " fix". Will be like for like, but allow sale if price is right. When I'm under 30 days left, I'll reach out to two local dealers plus the out of state dealer I originally leased from ( had to go 55 miles to get 6MT) and see what the bottom line is to do the deal. If not, I'll wait till the LCI M240 is out. Thanks.

 

[MJBrown62]

... (As an FYI- I bought a used BMW from a private party- a BMW dealer bought it from him; put it in inventory; ran it through the CPO process AND sold it to me...all while I had a long lunch.)

This isn't the same scenario as CPOing your own car.

... BMW doesnt condone this (cpoing a lease for the leasee to buy), so it takes some hand-holding. Just to be clear.

BMWFS is fully engaged with the Lease-to-Retail process. It's condoned. In fact it's codified as to how it can be done.

Do keep in mind that many salesmen would rather sell you a new car, so they might not work too hard. If you are clear that it is "this used car today or nothing" it might be a better 'setting of expectations'.

When you're contacting your non-originating dealer, ask for either the Lease Portfolio Manager (if they are big enough to have that position) or a sales manager. Have your VIN number, mileage, and any damage assessment (if any) ready. Don't not disclose a chipped up windshield, worn tires, bumper scrubs, etc. Dealers need to take these into account.

Michael

 

[[email protected]]

No need to CPO it...simply get a BMW warranty. If it is a CPO, then your vehicle must meet CPO guidelines, no matter what...extra money.

 

[ard]

No need to CPO it...simply get a BMW warranty. If it is a CPO, then your vehicle must meet CPO guidelines, no matter what...extra money.

Didnt realize the dealer cost for a CPO is the same as the retail price for an extended warranty....

(and obviously if his car needs work to pass the CPO and dealer actually needs that done, he wouldnt want to do path!)

Allegedly the Dealer cost for enrolling a car into a CPO is less than the retail (even discounted) cost of a BMW extended warranty. Disclaimer: Im not a dealer but I bet a dealer would know the actual price difference

Here's the other 'angle': if a CPO costs 2200, but the dealer charges you the same $3500 you pay for a BMW plan, MAYBE since they are making $1700 on that part of the deal they dont also bend you over on the price of the car from BMWFS. Maybe. To pretend the CPO enrollment cost and the BMW extended warranty cost is the same seems a bit...oh...disingenuous.

.

 

[mechwartz431]

The car has 20K miles. Is in pristine condition. Maybe not worth the extra $2-3K to extend warranty 2 more years. I've also replaced 3 tires due to flats and reasonable tread left in the one original.