Lease buyout question

fizzerd · 03-25-2014, 03:40 PM

Buddy's got a mini with the lease expiring soon and wants to keep the car so need some advise on the best way to finance the loan.

Called the original dealership and they want a $699 lease buyout fee, $50 lien fee and $25 MTO fee for the ownership transfer.

Is the $699 lease buyout fee true or BS? Rates are 2.9% for 4 years and 3.9%for 5 years..

Any advise would be helpful!

bobblehead · 03-25-2014, 06:07 PM

dealer can charge a buyout fee. No set amount and dealer can charge whatever.

Explore another way by calling up BMWFS and see if you can do it directly and the fee may be lowered or waived ???

grzes · 03-25-2014, 06:25 PM

and that is why all should have been negotiated before leasing starts. Negotiate if you decide to buy it or just drop it, have it in writing on the contract. Ask your friend if those options are not mentioned already, as I remember I always had them in my leasing contracts as I always wanted to know how much it will cost me at the end to walk away or if I keep it to buy it out and believe me, prior leasing started they are very willing to bend those extra fees just for you to take a lease

Once again, ask your friend if it is not already there

03-25-2014, 03:40 PM	#1
fizzerd Captain 37 Rep 714 Posts Drives: 328i Join Date: May 2007 Location: Canada iTrader: (11)	Lease buyout question Buddy's got a mini with the lease expiring soon and wants to keep the car so need some advise on the best way to finance the loan. Called the original dealership and they want a $699 lease buyout fee, $50 lien fee and $25 MTO fee for the ownership transfer. Is the $699 lease buyout fee true or BS? Rates are 2.9% for 4 years and 3.9%for 5 years.. Any advise would be helpful!
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03-25-2014, 06:07 PM	#2
bobblehead Brigadier General 256 Rep 4,721 Posts Drives: warp speed Join Date: Aug 2009 Location: Toronto, On iTrader: (0)	dealer can charge a buyout fee. No set amount and dealer can charge whatever. Explore another way by calling up BMWFS and see if you can do it directly and the fee may be lowered or waived ???
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03-25-2014, 06:25 PM	#3
grzes Captain 33 Rep 655 Posts Drives: 2009 bmw 335d LCI Join Date: Feb 2014 Location: Alberta iTrader: (2)	and that is why all should have been negotiated before leasing starts. Negotiate if you decide to buy it or just drop it, have it in writing on the contract. Ask your friend if those options are not mentioned already, as I remember I always had them in my leasing contracts as I always wanted to know how much it will cost me at the end to walk away or if I keep it to buy it out and believe me, prior leasing started they are very willing to bend those extra fees just for you to take a lease Once again, ask your friend if it is not already there
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