[dr_frankfurter]

Originally Posted by r3dbimmer89

I went though this issue back in Sept when trying to sell my Mercedes Financial lease...I ended just selling it to a Merc dealer and asked them to match Carmax's offer...I think the Merc dealer wasn't aware that I was only able to sell the car to them so they were eager to accept my counter offer from Carmax

Is that picture recent or from September?

[RigaTony1982]

Just to add to this, looks like a lawsuit has been filed to prevent this:

https://jalopnik.com/california-car-...ase-1848155624

[VipinLJ]

Originally Posted by RigaTony1982

Just to add to this, looks like a lawsuit has been filed to prevent this:

https://jalopnik.com/california-car-...ase-1848155624

Haha. I just came on here to post the same link! Audi should be included since they're doing the same too! Hopefully they win and we can sell our cars to any dealer irrespective of brand and stuff.

[RigaTony1982]

Originally Posted by VipinLJ

Haha. I just came on here to post the same link! Audi should be included since they're doing the same too! Hopefully they win and we can sell our cars to any dealer irrespective of brand and stuff.

Agreed. Would be nice. I understand trying to protect your dealers/brand, but just make your quotes competitive to CarMax/Caravana and you wouldn't have this issue.

[VipinLJ]

Originally Posted by RigaTony1982

Agreed. Would be nice. I understand trying to protect your dealers/brand, but just make your quotes competitive to CarMax/Caravana and you wouldn't have this issue.

True. Carvana quoted 42k for my car. My pay off now is like 35k iirc. But I can't do anything because of this issue.

[bavarianride]

Originally Posted by VipinLJ

True. Carvana quoted 42k for my car. My pay off now is like 35k iirc. But I can't do anything because of this issue.

Yours must be fully loaded. On my lightly loaded 2021 330i, carvana offers $34k for my zip.

I think paying off $35k and selling to carvana for $42k just looks great.

The caveat is that it takes some time for pink slip to arrive, and by that time carvana's offer may change.

[VipinLJ]

Originally Posted by bavarianride

Yours must be fully loaded. On my lightly loaded 2021 330i, carvana offers $34k for my zip.

I think paying off $35k and selling to carvana for $42k just looks great.

The caveat is that it takes some time for pink slip to arrive, and by that time carvana's offer may change.

Nope. That's the funny thing. I have a sportline.

The thing is. I'd I buy it out now, I'll have to pay taxes. And by the time I can sell it to carvana, the offer will probably reduce and I probably might not make any money on it. Which is why I'm pissed off with the new rule.

[bavarianride]

Originally Posted by VipinLJ

Nope. That's the funny thing. I have a sportline.

The thing is. I'd I buy it out now, I'll have to pay taxes. And by the time I can sell it to carvana, the offer will probably reduce and I probably might not make any money on it. Which is why I'm pissed off with the new rule.

Wow $42k is phenomenal, your zip code must love BMW a lot.

Yeah paying tax on buyout, then waiting for pink slip, then prospective owner paying tax 2nd time(which affects how much new owner wants to pay), that whole process does not quite work.

I do wonder if BMW dealer still assists with lease buyout transfer to 3rd party. In CA, that process can meet the tight 10 days turnaround mandated by DMV(to avoid lessee paying tax on buyout).

[EXE46]

The irony in all this is that before you'd have folks complaining that some of these same dealers were refusing lease returns when the car weren't bought at the same dealer. This is a problem for many of us who don't get our leased cars from a local dealer.

In those circumstances BMW specifically always told the consumer to find another dealer who is willing to take the lease return since they couldn't force any dealer to accept the lease return. As such one is forced to drive all over town or even having to venture into another county just have somewhere to return the car. However, today we have these dealers who suddenly wants us to return our cars to them versus selling to the highest bidder because now it's in their best interest.

[dr_frankfurter]

Originally Posted by VipinLJ

True. Carvana quoted 42k for my car. My pay off now is like 35k iirc. But I can't do anything because of this issue.

Same here - payoff 36K, 42K KBB estimate. Got one dealer willing to buy my car for 36, but the issue is that getting into anything new is a nightmare with current prices.

[VipinLJ]

Originally Posted by bavarianride

Wow $42k is phenomenal, your zip code must love BMW a lot.

Yeah paying tax on buyout, then waiting for pink slip, then prospective owner paying tax 2nd time(which affects how much new owner wants to pay), that whole process does not quite work.

I do wonder if BMW dealer still assists with lease buyout transfer to 3rd party. In CA, that process can meet the tight 10 days turnaround mandated by DMV(to avoid lessee paying tax on buyout).

I'm scared to check for a new offer (this offer was a month ago). I'm sure it must have come down but yes. There's nothing I can do at the moment.

Originally Posted by EXE46

The irony in all this is that before you'd have folks complaining that some of these same dealers were refusing lease returns when the car weren't bought at the same dealer. This is a problem for many of us who don't get our leased cars from a local dealer.

In those circumstances BMW specifically always told the consumer to find another dealer who is willing to take the lease return since they couldn't force any dealer to accept the lease return. As such one is forced to drive all over town or even having to venture into another county just have somewhere to return the car. However, today we have these dealers who suddenly wants us to return our cars to them versus selling to the highest bidder because now it's in their best interest.

I didn't know there were dealers refusing to take in lease returns because the car wasn't bought from there. I've always leases all my cars from dealers that were different from the lease return dealer. And none of them (BMW, Audi) had any problems taking the car back in.

Originally Posted by dr_frankfurter

Same here - payoff 36K, 42K KBB estimate. Got one dealer willing to buy my car for 36, but the issue is that getting into anything new is a nightmare with current prices.

I feel you. I know I won't be buying a car until next year when things hopefully go back to normal.

[r3dbimmer89]

Originally Posted by dr_frankfurter

Is that picture recent or from September?

Sept

[bavarianride]

Originally Posted by r3dbimmer89

Sept

It is surprising that BMWFS is not on the list.

[EXE46]

Originally Posted by VipinLJ

I didn't know there were dealers refusing to take in lease returns because the car wasn't bought from there. I've always leases all my cars from dealers that were different from the lease return dealer. And none of them (BMW, Audi) had any problems taking the car back in.

It's been the norm for quite sometime, again this depends on your area. My last lease was a Lexus and when time came to turn in, the closest dealer to me told me they only take returns if they were gotten there. As a result, I had to drive 30 miles north of my location at another dealer who didn't have that stipulation.

On Leasehackr, many people have had similar experiences especially with BMW dealers. Of course now, this is no longer an issue since they're all short on inventory.

[nathanm4]

Try Vroom.

[Entropy89]

My lease on my F30 ended about 2 weeks ago and I tried selling to carvana and kbb because both were offering about $5,000 more than the residual value. Got both offers and both places called me to discuss the buyout and I explained that the car was leased through BMWFS. They said I had to buy the car first...I had to enter the lease info in order to get a quote so Im not sure why they even quoted me in the first place if they werent easily able to take care of the lease.

Fast forward to the dealership and I asked if they could come close to both offers because I was buying an m340 from them and would roll the money right back into the new loan anyways, and I was basically scoffed at...and told to buy the lease out through my bank on the spot (literally last day of the lease) or pay cash and sell it after. I won't be going to this dealership anymore but it's not right that BMWFS (or other manufacturers) limit what you can do with the lease and financing. I'm thinking about refinancing my m340 through my bank in a month or so just so I dont have to deal with BMWFS again.

[jmg]

Originally Posted by VICG20M

Yea it's possible a lot of banks are doing it: GM financial, Nissan, Ford and Audi from what I know. The loop hole is to take it to a company that owns a BMW store such as a autonation where they can still take your car on trade, all they would do is send it to their BMW store and send the payoff that way.

This is what I am doing to avoid paying the tax. BMW dealer is paying $10k more than what Vroom, Carmax, and Carvana offered. Might be unique to my M3 CS however, since a bunch of ignorant people misrepresent their M3/4 Competitions for the CS model, which was $107k MSRP new.

[jmg]

Originally Posted by Entropy89

My lease on my F30 ended about 2 weeks ago and I tried selling to carvana and kbb because both were offering about $5,000 more than the residual value. Got both offers and both places called me to discuss the buyout and I explained that the car was leased through BMWFS. They said I had to buy the car first...I had to enter the lease info in order to get a quote so Im not sure why they even quoted me in the first place if they werent easily able to take care of the lease.

Fast forward to the dealership and I asked if they could come close to both offers because I was buying an m340 from them and would roll the money right back into the new loan anyways, and I was basically scoffed at...and told to buy the lease out through my bank on the spot (literally last day of the lease) or pay cash and sell it after. I won't be going to this dealership anymore but it's not right that BMWFS (or other manufacturers) limit what you can do with the lease and financing. I'm thinking about refinancing my m340 through my bank in a month or so just so I dont have to deal with BMWFS again.

It's not just BMW. In fact BMW was late in initiating this limitation. Many other manufacturers did this much sooner, so either BMW was slow or let their customers take advantage for longer than others. If I were you, I'd try another dealer. Maybe that dealer is full of unsold F30's or doesn't want your business bad enough. Try someone else.