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      05-29-2012, 01:08 PM   #1
2point3
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Lease return options?

I have a 2010 space grey coupe manual w coral red, sport, premium, navi, logic 7 with 9000 miles and my lease is up in 2 months. Is there any way to get any money back from my car being way under on the mileage? Also is returning the car back to bmw the best option?
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      05-29-2012, 01:19 PM   #2
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you have 4 options

1. turn it in and walk away
2. buy it out
3. sell it to carmax/private party...potential of making some money
4. trade it in...not necessarily for a BMW

depending on your residual...I'd say sell it to Carmax/Private party and pocket the rest of the cash. That car is nicely optioned out with really low miles.

The only thing about private party sale is that it's a PITA since you do not have the pink slip yet
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      05-29-2012, 02:49 PM   #3
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Quote:
Originally Posted by 2point3 View Post
I have a 2010 space grey coupe manual w coral red, sport, premium, navi, logic 7 with 9000 miles and my lease is up in 2 months. Is there any way to get any money back from my car being way under on the mileage? Also is returning the car back to bmw the best option?
no
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      05-29-2012, 02:56 PM   #4
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I'd take it to Carmax or sell it privately and pocket the cash...
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      05-29-2012, 06:50 PM   #5
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My residual is 35,000 doesnt seem like I would make much.

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Originally Posted by hemi to e90 View Post
no
Care to elaborate?
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      05-29-2012, 07:25 PM   #6
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Your residual is fairly high...private party sale would be around $37k so carmax would put you at maybe $35k. Of course MMR could be less than actual payoff so you might want to try carmax
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      06-03-2012, 05:00 PM   #7
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Your residual is negotiable. Mine was 31k I was offered 27k by a local dealer. So if you call 3 dealers and ask how much they would sell you the car for, less tax you could sell it to a 3rd party and run the deal through the BMW dealership that gave you the lowest price.
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      06-03-2012, 07:45 PM   #8
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Quote:
Originally Posted by khaye1 View Post
you have 4 options

1. turn it in and walk away
2. buy it out
3. sell it to carmax/private party...potential of making some money
4. trade it in...not necessarily for a BMW

depending on your residual...I'd say sell it to Carmax/Private party and pocket the rest of the cash. That car is nicely optioned out with really low miles.

The only thing about private party sale is that it's a PITA since you do not have the pink slip yet
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Originally Posted by pt335i View Post
I'd take it to Carmax or sell it privately and pocket the cash...
how are carmax?

are they reasonable offers or big low balling?
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      06-03-2012, 08:39 PM   #9
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Fair, not too bad but not great
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      06-03-2012, 09:04 PM   #10
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Quote:
Originally Posted by 67R60 View Post
Your residual is negotiable. Mine was 31k I was offered 27k by a local dealer. So if you call 3 dealers and ask how much they would sell you the car for, less tax you could sell it to a 3rd party and run the deal through the BMW dealership that gave you the lowest price.
residual is negotiable? Why would they want to negotiate the residual when your car has low mileage?
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      06-04-2012, 12:07 AM   #11
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residual is negotiable? Why would they want to negotiate the residual when your car has low mileage?
Maybe they would if they know you were cross shopping other dealers? They'll lower it as much as they can to earn the commission...at least that's what I think.
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      06-04-2012, 12:25 AM   #12
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Quote:
Originally Posted by itrocks4u View Post
residual is negotiable? Why would they want to negotiate the residual when your car has low mileage?

The actual dealer pay off/MMR(average historical sale price)...this is not the residual value that's on the paperwork...might be lower than your actual payoff. Let say your residual value is $32k if Carmax or the dealership was to buy it off of you, their actual pay off might be around $29k. It doesn't matter how much mileage is on the car since bmwfs already calculated the depreciation through the mileage on your lease and you already payed for that.

At least, that's how I understand it.
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      06-04-2012, 10:09 AM   #13
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Quote:
Originally Posted by 2point3 View Post

Care to elaborate?
i dont wanna be a dick, but you entered into a contract with preset terms and conditions. now, because you havent used those terms and conditions, you want that contract altered?
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      06-06-2012, 10:16 PM   #14
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Quote:
Originally Posted by hemi to e90 View Post
i dont wanna be a dick, but you entered into a contract with preset terms and conditions. now, because you havent used those terms and conditions, you want that contract altered?
.

How did you get that from what I asked? I asked what are my best options.
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      06-07-2012, 10:52 AM   #15
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Quote:
Originally Posted by 2point3 View Post
.

How did you get that from what I asked? I asked what are my best options.
how this not what your doing?

you purchased a period to time in a vehicle and its mileage. you got the time part, the mileage as on you.

have you considered an elongated road trip?
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      06-07-2012, 11:50 AM   #16
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Play out some of the options suggested. Dealers will negotiate on lease returns, though they don't like acknowledging it. Hell the dealers make more on used cars, CPO's then new vehicles, other then service costs out of warranty.
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      06-07-2012, 09:22 PM   #17
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Play out some of the options suggested. Dealers will negotiate on lease returns, though they don't like acknowledging it. Hell the dealers make more on used cars, CPO's then new vehicles, other then service costs out of warranty.
They will negotiate to get u into another car

Otherwise what's the point, they get it car on their lot when you return it
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      06-07-2012, 10:51 PM   #18
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Quote:
Originally Posted by khaye1 View Post
you have 4 options

1. turn it in and walk away
2. buy it out
3. sell it to carmax/private party...potential of making some money
4. trade it in...not necessarily for a BMW

depending on your residual...I'd say sell it to Carmax/Private party and pocket the rest of the cash. That car is nicely optioned out with really low miles.

The only thing about private party sale is that it's a PITA since you do not have the pink slip yet

Thank everyone for the advise. My wife's best friend's dad owns a BMW dealership and pretty much said you where spot on with your advise. He told me a private sell will most likely have a higher return for me.
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      06-24-2012, 02:23 PM   #19
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Quote:
Originally Posted by hemi to e90 View Post
They will negotiate to get u into another car

Otherwise what's the point, they get it car on their lot when you return it
You can return it to any BMW dealer, if you negotiate with several they will work with you.
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      06-24-2012, 02:34 PM   #20
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You can return it to any BMW dealer, if you negotiate with several they will work with you.
again, no ur next car.

the point being made is, try negotiating this if you aren't getting another car from them.
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