Lease buyout process

Victor G · 07-09-2015, 05:27 PM

Hi! I found someone on the forums whose lease is ending soon and I'm interested in buying his X3. Just wanted to see if anyone can guide me how this whole process works - is it ok if he returns the car to the dealer and I should approach the dealer then to certify it and buy it from him (keeping in mind I know the buy out price would the dealer sell me the car for buyout price plus certification fee and tax) or should I have him just buyout the car himself and get it certified and then get it from him.
Any help would be appreciated.

RaslDasl · 07-11-2015, 07:48 AM

There are a number of factors to consider for both of you. For him he needs to know what buyout is and what it will cost to do a lease return (over miles? excess wear or damage?). For you how important is the CPO warranty? Depending on the state there are sales tax ramifications for both of you.

Victor G · 07-11-2015, 09:18 AM

I know the buyout and he is leasing another BMW. He is under the miles and the car is in mint condition.
I would definitely want it certified for the peace of mind.
We are in a state where we pay tax on the buy out price.
Considering these factor what makes more sense should I buy directly from him once he buys it out or let him return it to dealer and then buy from dealer

FSociety · 07-12-2015, 08:48 PM

Victor G mine is CPO Elite if you're interested

http://cargur.us/2kXCx

BMWrules7 · 07-12-2015, 09:58 PM

Quote:

Originally Posted by Victor G

Hi! I found someone on the forums whose lease is ending soon and I'm interested in buying his X3. Just wanted to see if anyone can guide me how this whole process works - is it ok if he returns the car to the dealer and I should approach the dealer then to certify it and buy it from him (keeping in mind I know the buy out price would the dealer sell me the car for buyout price plus certification fee and tax) or should I have him just buyout the car himself and get it certified and then get it from him.
Any help would be appreciated.

Hello Victor,

I am advising you to think twice.

First pass residuals are putative.

The way to get a killer deal is to take over someone's lease. Buying a vehicle that's coming off lease is generally upside down.

This means you're going to pay more than market value.

Please reconsider or otherwise tread carefully.

07-09-2015, 05:27 PM	#1
Victor G New Member 3 Rep 25 Posts Drives: 2011 BMW 335i Join Date: Apr 2015 Location: MI iTrader: (0)	Hi! I found someone on the forums whose lease is ending soon and I'm interested in buying his X3. Just wanted to see if anyone can guide me how this whole process works - is it ok if he returns the car to the dealer and I should approach the dealer then to certify it and buy it from him (keeping in mind I know the buy out price would the dealer sell me the car for buyout price plus certification fee and tax) or should I have him just buyout the car himself and get it certified and then get it from him. Any help would be appreciated.
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07-11-2015, 07:48 AM	#2
RaslDasl Private 20 Rep 51 Posts Drives: 2016 X3 xDrive35i Join Date: Mar 2015 Location: Wayne, PA iTrader: (0)	There are a number of factors to consider for both of you. For him he needs to know what buyout is and what it will cost to do a lease return (over miles? excess wear or damage?). For you how important is the CPO warranty? Depending on the state there are sales tax ramifications for both of you.
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07-11-2015, 09:18 AM	#3
Victor G New Member 3 Rep 25 Posts Drives: 2011 BMW 335i Join Date: Apr 2015 Location: MI iTrader: (0)	I know the buyout and he is leasing another BMW. He is under the miles and the car is in mint condition. I would definitely want it certified for the peace of mind. We are in a state where we pay tax on the buy out price. Considering these factor what makes more sense should I buy directly from him once he buys it out or let him return it to dealer and then buy from dealer
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07-12-2015, 08:48 PM	#4
FSociety IG @bmwF9xG80 3813 Rep 7,593 Posts Drives: G80 M3, X4M, G07 X7m50 Join Date: Apr 2012 Location: NYC to NJ to Orlando FL iTrader: (3) Garage List 2023 BMW G80 M3 [0.00] 2020 BMW X4MC [0.00] 16' BMW X4 M40i [10.00] 06 Cadillac STS [0.00]	Victor G mine is CPO Elite if you're interested http://cargur.us/2kXCx __________________ 60-130mph 6.5s X4M #HCP 60-130mph 5.0s G80 M3 #OrlandoAutowerks Sauce IG: @bmwF9XG80 Last edited by FSociety; 07-13-2015 at 10:16 AM..
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