[wadgras44]

Do dealers want you to return your lease with them (is there some benefit to them) or is it viewed as burden?

Moreover, can you "shop" your lease return around if you don't like inspection report? Just being proactive here. Thx!

[Delta0311]

Originally Posted by wadgras44

Do dealers want you to return your lease with them (is there some benefit to them) or is it a hassle?

Moreover, can you "shop" your lease return around if you don't like inspection report? Just being proactive here. Thx!

I doubt it. Why would anyone want to take back a depreciating asset?

[200Duece]

you cannot shop the inspection. if you are just giving the car back they will charge foe whatever is due. if you are looking to buy or lease another car from them, then they might be willing to forgive, overlook, compensate, or cover the charges that you have on your lease return.

Most dealers will want your car back after lease end. it's a good way for them to keep up CPO inventory. But if yor car is a POS or high mileage then maybe not.

[Evil335i]

I went to the dealer today to talk to my CA bout my lease which will end in 3 months. I was trying to work out a deal with him, so i can keep my car n he wont even give me anything off. My car is gonan b worth 34k when lease is over so he told me that im going to have to pay 34k + 3500 for extended warranty. I'm like WTF i was expecting like atleast 3k off the car from 34k. fucken asshole

[David 12]

Thats the game evil - Who knows, you might get a call in another month with the dealer singing a different tune!

[khaye1]

hey duece, i thought you can negotiate residuals at end of lease(3 or 4 months prior to lease end)?

[MontegoblueE92]

Originally Posted by Evil335i

I went to the dealer today to talk to my CA bout my lease which will end in 3 months. I was trying to work out a deal with him, so i can keep my car n he wont even give me anything off. My car is gonan b worth 34k when lease is over so he told me that im going to have to pay 34k + 3500 for extended warranty. I'm like WTF i was expecting like atleast 3k off the car from 34k. fucken asshole

34 at lease end? How low were your payments? Or how high was your MSRP? Mine was 28. But they weren't willing to negotiate so I told them to stick it...right in their CPO lot.

[200Duece]

Originally Posted by Evil335i

I went to the dealer today to talk to my CA bout my lease which will end in 3 months. I was trying to work out a deal with him, so i can keep my car n he wont even give me anything off. My car is gonan b worth 34k when lease is over so he told me that im going to have to pay 34k + 3500 for extended warranty. I'm like WTF i was expecting like atleast 3k off the car from 34k. fucken asshole

Why is he an asshole? You signed the lease contract with closed end value.

khaye1
hey duece, i thought you can negotiate residuals at end of lease(3 or 4 months prior to lease end)?

You usually end up close enough at your last 3 or 4 pays that a dealer will make those payments for you to terminate your current account to help you get into a new car or if the trade value of your car covers your total pay off then they can take it in on trade to get you out early.

Right now BMW has a pull ahead program that will pay your last three payments if you lease end between now and Dec 31 and you lease or purchse a new BMW.

You might be able to negotiate the purchase price of your car at the end of the lease but the "residual" will remain the same. BMW Financial Services has now started to pack the cost of the market value that the dealers was using to lower the purchase prices of Lease to Retail client. The dealers no longer have the room that they did before.

BMW FS is getting a hold of the CPO market. Expect CPO pricing to hold strong or increase and the purchase of your car at the end of your lease to go back to how it used to be. A closed end contract purchase

[Evil335i]

Originally Posted by MontegoblueE92

34 at lease end? How low were your payments? Or how high was your MSRP? Mine was 28. But they weren't willing to negotiate so I told them to stick it...right in their CPO lot.

i did a 24 month lease.

Originally Posted by 200Duece

Why is he an asshole? You signed the lease contract with closed end value.

Cuz i bought 2 cars from him & refer friends to him, that bought cars. All this and he wont even give me a discount at the end of the lease.

[pruettfan]

Most dealers are taking far more lease returns then they could possibly sell on the used side. BMW gives them a chance to pick them up at a very good price but if your dealer is taking in 20-30 lease returns over a three month period you can't move them on the used side that quickly generally, besides they have standing new inventory and don't want competition on their own lot for new sales for the most part. Many of the lease returns end up going to auction and selling a below wholesale. This is why for example we just saw a flood of 06 330i s with 40-50k miles for sale on many lots for 23 to 26k. The same thing happens every year as lease returns come in.

The dealer has no control of this transaction it is in the lease companies hands only. Asking them for a discount would be the same as asking a random person walking down the street for a discount on a car they don't own.

[200Duece]

the only part of that post that is close to correct is the part about the 2006 330's. That is just how leasing works. Most leases with BMW are 36 months so it kinda makes sense that 36 months later in 2009 that the 2006's are coming back. Average mileage is about 15,000 per year so the math on that is about right too.

Now, I don't know what you really know about car sales but, for a dealer to only sell 30 cars over a three month period seems like a small number. A solid CPO store is doing 50-70 cars a month. We can't get them throught the shop fast enough right now. BMW sells more CPO cars than Audi sells new cars.

And the part about "don't want competition on thier own lot for new sales", that's just plain silly. And YES, the dealer does have control of this transaction. the dealer is selling the product and the "Leasing Companies" are banks who want the dealers to sell the cars that they own so they can make money on financing that the buyer will most likely need.

The dealer can discount the car if there is room for it to be done or it makes good business sense. Sometimes they can't or won't.

[FJc335]

Anyone extended their lease ? I heard that if you extend your lease like for another 2 years, you need to sign a new contract?
And for those who purchased after the lease end, do you just write them a check or you have to go thru the whole finance procedures.

[200Duece]

You can't extend your lease for more than 6 months and that's only if you have a new car on order.

if you purchase your lease at the end you can finance it through your local dealer or write them a check or get your own bank to cut you a check to send to them

[GregL]

Originally Posted by 200Duece

You can't extend your lease for more than 6 months and that's only if you have a new car on order.

I think what FJc335 is talking about is re-leasing under new terms, which I understand nobody does as it's going to be a horrible deal.

[FJc335]

Originally Posted by GregL

I think what FJc335 is talking about is re-leasing under new terms, which I understand nobody does as it's going to be a horrible deal.

why would it be a horrible deal ? Shouldn't the payments go down, since you're actually re-leasing a used car.

[200Duece]

even leasing a CPO car is a bad idea. to lease a used car in general is the wrong way to go. New car lease = CPO car purchase > re lease

Mileage based residuals and no rate support = bad lease payments

[GregL]

Originally Posted by FJc335

why would it be a horrible deal ? Shouldn't the payments go down, since you're actually re-leasing a used car.

Out of curiosity I asked and my present monthly rate would double if I re-leased. I read about one fellow with an X3 who went from $350 a month to over a thousand because he re-leased. Don't ask me why, I have no idea how the math works.

[200Duece]

it's financing. a loan at 2.5% has a payment of X and a loan at 10% has a payment of X plus the the 4 times higher rate.

[BMW F22]

Originally Posted by Evil335i

I went to the dealer today to talk to my CA bout my lease which will end in 3 months. I was trying to work out a deal with him, so i can keep my car n he wont even give me anything off. My car is gonan b worth 34k when lease is over so he told me that im going to have to pay 34k + 3500 for extended warranty. I'm like WTF i was expecting like atleast 3k off the car from 34k. fucken asshole

Not sure you knew but you can talk to other dealers about buying out your lease. If it's reasonable they can sell the car to you. I believe you don't have to buy it from the same dealer that you leased it from. The way it is now a few grand off residual value is pretty much the norm (and you shouldn't even have to ask for it).

[BMW F22]

Originally Posted by GregL

Out of curiosity I asked and my present monthly rate would double if I re-leased. I read about one fellow with an X3 who went from $350 a month to over a thousand because he re-leased. Don't ask me why, I have no idea how the math works.

Yeah it is ridiculous. I wanted to extend my original lease for another 6-12 months and the payments came out to something like $1000+/mo. I ended up buying it out (it made more financial sense).

[wadgras44]

my one warning for anyone returning their lease is - BEWARE BUMPER KNOTS!

I had a dime size "knot" (from some bastards license plate screws) in each bumper - each of which is consider "large" damage.

[FJc335]

Originally Posted by wadgras44

my one warning for anyone returning their lease is - BEWARE BUMPER KNOTS!

I had a dime size "knot" (from some bastards license plate screws) in each bumper - each of which is consider "large" damage.

I had 2 of those on mine back in 07 and they let it go.