[Musaabi]

My lease is ending in October for my 21 M340. Currently I’m above miles(33700 w/30k mile lease). I’m looking at getting another car and want to trade in my car. KBB has my car between 40-45k trade in depending on condition and was offered 40k(39k is my buyout) by my local dealer if I trade in towards a new BMW. However rates and leases are insane now. $1100 for an x3 M40 🙃

Want to trade in for possibly another brand but I’m being told BMW won’t allow other brands to buy out the lease and that I would need to purchase the car to trade in and worried how that would like on credit(taking out a 45k loan and then applying for 95k loan)

Any recommendations?

[Auditobimmer42]

Yeah it sucks right now. Buying it and selling it is less than ideal. I believe taxes cut into your profit, so you need to run the numbers

[New2Bimmer]

Find an autonation if you are in the USA. They can buyout your lease. Make sure to negotiate with them to get whatever equity you can. Purchasing it before selling could also have you paying sales tax on the purchase.

There generally is a short window within which you can buyout your car and sell it and avoid sales taxes. Selling to a dealer negates this worry.

[Throatpunch]

Originally Posted by New2Bimmer

Find an autonation if you are in the USA. They can buyout your lease. Make sure to negotiate with them to get whatever equity you can. Purchasing it before selling could also have you paying sales tax on the purchase.

There generally is a short window within which you can buyout your car and sell it and avoid sales taxes. Selling to a dealer negates this worry.

Third party lease buyouts are not allowed by BMW.
You have to either have bmw dealership buy it back, return it as a lease return, or buy it out and sell it. Not sure about your state but in mine a trade it reduces to taxable amount (most likely you paid tax on the lease)
You can also call several bmw dealerships and ask for best trade value for the lease but come prepared and tell them a specific stock number or car coming onto the lot

[New2Bimmer]

Originally Posted by Throatpunch

Third party lease buyouts are not allowed by BMW.
You have to either have bmw dealership buy it back, return it as a lease return, or buy it out and sell it. Not sure about your state but in mine a trade it reduces to taxable amount (most likely you paid tax on the lease)
You can also call several bmw dealerships and ask for best trade value for the lease but come prepared and tell them a specific stock number or car coming onto the lot

Autonation can buy out BMW leases. Just be prepared to haggle a bit.