[OrmondBMW]

Little help please?

My lease is up next month and I like it enough that I would like to keep it.

Obviously not at BMW inflated residuals but closer to trade prices. Any idea what 16’s are fetching at auction?

Thank you in advance.

[F5506m]

would be interested how your negotiations go because I am in the same boat.

[OrmondBMW]

Will definitely keep everyone posted.

[OrmondBMW]

Anyone, please?

[HustlerX5]

How would that work? When you go turn in your lease there’s a way to try and keep it while trying to negotiate the price? I thought you had to pay whatever residual you had left on your loan

[Maanpur]

Originally Posted by OrmondBMW

Little help please?

My lease is up next month and I like it enough that I would like to keep it.

Obviously not at BMW inflated residuals but closer to trade prices. Any idea what 16’s are fetching at auction?

Thank you in advance.

16 are going for 81 to 86K at the auction with 2 to 5K miles on them.

[FrequentFlyer]

I’m confused....you had the benefit of lower monthly payments due to a higher residual value guarantee and signed a contract that you no longer want to honor ? Or did I misunderstand?

I suppose you could hand it back and then immediately offer to buy it back for less, which might work.

[OrmondBMW]

Originally Posted by FrequentFlyer

I’m confused....you had the benefit of lower monthly payments due to a higher residual value guarantee and signed a contract that you no longer want to honor ? Or did I misunderstand?

I suppose you could hand it back and then immediately offer to buy it back for less, which might work.

Nothing confusing about it. You are correct, my contract stipulates I either buy car at end or turn it back in.

BMW and Mercedes will at times offer to sell the car at wholesale to the dealer and bless the dealer to sell back to the original buyer at a markup. Manufacturer get more money than auction, dealer makes a bit of profit and original buyer gets a car he knows at a better price than retail. You could say win-win-win.

[FrequentFlyer]

Ok hope it works out for you...I have always bought my cars outright so am not really familiar with the realities of end of lease negotiations.

[Ghetto2315]

Right before you give your i8 back, your dealer will be able to pull a dealer payoff quote from BMWFS. There will be 3 things to look at by them. Your Residual Contractual Buyout. The Dealer Payoff. And the Customer Loyalty Quote if the customer is doing a lease to purchase, which is essentially the dealer's payoff price PLUS a fee that is added on top to sell it back to you. So yes, a dealer can help save you money if they buy your lease and sell it back to you.

Usually the Dealer Payoff's price and the Customer Loyalty Quote will be lower than your Residual Contractual Price. Sometimes if it's a hot vehicle and BMW FS wants the car, the dealer's payoff and/or the customer's loyalty quote price will be the same which means the dealer can't help save you money.

On the i8 where it's not a hot car, I suspect that your dealer will be able to help you save money from your Contractual Residual price.

[OrmondBMW]

Originally Posted by Maanpur

16 are going for 81 to 86K at the auction with 2 to 5K miles on them.

Thank you, this will help tremendously.

[Groundhog]

Any dealer, broker, trader, with a Manheim account can tell you this exactly. You might have buy someone dinner, but would be worth it.

Manheim is a dealer service that shows wholesale prices, like an MLS does with real estate. They run their own auctions, list cars for sale, and have the MMR services that show recent comps for specific make, model, year of car.

[Jason B]

Originally Posted by Maanpur

16 are going for 81 to 86K at the auction with 2 to 5K miles on them.

Got a 16 with 2,500 miles on it for $92k at dealer.