[Delmoney335]

Originally Posted by GearRex

I think I will do the same.

Just for the hell of it, I checked Autonation for an offer to buy my lease. I did it because I found out that they own a BMW Dealer in Florida, as a result, they can buy the lease. Autonation offered $60K online. That is approximately a $20K positive equity in my case.

My local dealer is also sending these “offers” to put me into a new lease payment of $100 less than what I pay today. Like you, I am also assuming that they expect for me to just turn-in my lease, so they can cash-in on the positive equity.

I suppose I should at least have a conversation and find out. With all that positive equity, it should be interesting if they can still offer the same lease offers they have been sending me, after I tell them I will not just turn-in the car, but sell it before getting a new lease, and if they want it, they would have to beat the deal offered by Autonation.

After all, I do not have to buy anything from them, and I can always buy the lease out.

I think I will extend the lease 2 more months to give me more maneuvering room and see what happens.

If you do ask the dealer what their lease offer is w/out turning in your car to them, please share. I can only imagine the ridiculously horrific deal they will be giving you, especially here in SFL.

[GearRex]

Originally Posted by Delmoney335

If you do ask the dealer what their lease offer is w/out turning in your car to them, please share. I can only imagine the ridiculously horrific deal they will be giving you, especially here in SFL.

I will do that. I am all for transparency, and since these transaction have become more and more opaque since COVID, this community needs to share personal experiences more than ever, to help others. Particularly in the regional context. In this case, South Florida.

[IDBGOD]

It will be MSRP, plus whatever their fees are. There are no discounts or rebates on an M3 and no special financing offers.

Some dealers will still even try market adjustments just to see if they can still get them.

In fact, BMW does not even offer a center employee lease/purchase to employees on an M3. They do on the M4, but not the M3. Pretty much every car but the M3 and M2.

So if they are quoting less than your current lease payment, they are 100% using the equity in your current car to get there. You should also check the offer and make sure it is for a 2025, since 2024’s pretty much don’t exist anymore. A 2024 probably isn’t even on their lot.

You basically have two options:

Buy out your lease and keep it/sell it, or use the equity to order a new one.

Or…you can try to hold out on a deal maybe by year end. Buy out your lease and wait. The market may be adjusting, but I still don’t see low interest rates and aggressive deals on an M3 happening. What you may loose however, is more equity as the prices on used cars (even M3’s) have been adjusting.

I would weigh out if you have any interest in the LCI vs what you have now. If you want a new one, take advantage of the equity now. Or buyout your car and be happy, or sell it and cash out.

Whatever you decide.

[low2ground]

Originally Posted by NYG

I got a 0.00290 MF for this month. Laughed and rejected it hard.

Bad time to lease these cars.

FWIW, I got a better number than that as a repeat buyer.

[BIGW0RM]

Originally Posted by GearRex

I think I will do the same.

Just for the hell of it, I checked Autonation for an offer to buy my lease. I did it because I found out that they own a BMW Dealer in Florida, as a result, they can buy the lease. Autonation offered $60K online. That is approximately a $20K positive equity in my case.

My local dealer is also sending these “offers” to put me into a new lease payment of $100 less than what I pay today. Like you, I am also assuming that they expect for me to just turn-in my lease, so they can cash-in on the positive equity.

I suppose I should at least have a conversation and find out. With all that positive equity, it should be interesting if they can still offer the same lease offers they have been sending me, after I tell them I will not just turn-in the car, but sell it before getting a new lease, and if they want it, they would have to beat the deal offered by Autonation.

After all, I do not have to buy anything from them, and I can always buy the lease out.

I think I will extend the lease 2 more months to give me more maneuvering room and see what happens.

How much did you put down on your lease to have 20k positive equity? That seems ungodly high.

[///M-Furby]

Originally Posted by GearRex

Anyone know what residuals are for M3 base, Comp RWD and Comp X-Drive?

Any loyalty discounts? Probably these days are gone.

My M3 base is coming to the end of the lease and I have a $40K buyout plus taxes. In this economic climate, I am thinking of keeping it, and wait for the next models and better financing options down the road. I only have ~15K on the odometer.

Unfortunately I am in Miami. Local South Miami dealer - where I service the car - keeps calling me and leaving messages. They offered a similarly specked M3 for $936 lease + tax, no other details. I assume they want my car, but I am skeptical of their offers.

Another wrinkle is that if I want to buy the car, BMWFS says I have to go through a BMW Dealer, because of some Florida Law passed in our state. The Florida dealer lobby at work I am sure. I looked it up, and it is true. I cannot send a check to BMWFS as was allowed a few years ago. For this reason I am fearful of absurd dealer fees and inflated finance rates on the transaction.

If you guys have any helpful information, please let me know. I am sure some of you faced similar dilemas.

Going through the paperwork, for lease end-buyout, through BMW Florida dealers is just an opportunity for them to sell you on stuff. They have to honor your contracted amount, so that is not up for negotiation. They may try and sell you on extended warranty or something else. If you finance through BMW FS and want to continue to do so, then call them up and find out the buy rate. If the dealer tries to mark it up you can say no. Don't sweat that. Or just buy a new one and hand this back.

What was your down payment on your car? Having 20k equity is a lot and I think your best bet is to sell that ride to someone.

if you are looking for a dealership that is fair then send me a PM. I am in Boca Raton and yes, the Florida dealerships are annoying to work with. So if you don't mind working out of state, I got a name for you

[///M-Furby]

Originally Posted by BIGW0RM

How much did you put down on your lease to have 20k positive equity? That seems ungodly high.

Autonation offering 60k seems high to me too, especially for a base model. However, if you look at sale prices on 3 year old M3's, the numbers are stupid high. I was looking at 2016-2018 M3 Competitions and all of those are hovering around 50-60k....and that's for last gen.

[///M-Furby]

Remember, when you lease a car to do Monthly Security Deposit (MSD). Don't put money down...take that cash and do the MSD which reduces your MF rate. You get the MSD back as long as you don't miss any payments or have any other non-warranty issues (e.g., you have a dent in the car that you refuse to fix on your own)

[Delmoney335]

I just completed a buyout from FL. You do need to go through a dealer but it doesn't have to be a local one. I did it out of state (same I bought the car from), no bs fees. Residual + tax + tag/title and that is it.

[Cc6]

Does anyone have any experience leasing or buying with Scott smith ?

[Bch53211]

Originally Posted by ///M-Furby

Remember, when you lease a car to do Monthly Security Deposit (MSD). Don't put money down...take that cash and do the MSD which reduces your MF rate. You get the MSD back as long as you don't miss any payments or have any other non-warranty issues (e.g., you have a dent in the car that you refuse to fix on your own)

Thanks for this suggestion can you explain it a bit more please ? How does this work ? I’ll google it now to see if I can get any more info.

['Cane]

Originally Posted by Bch53211

Thanks for this suggestion can you explain it a bit more please ? How does this work ? I’ll google it now to see if I can get any more info.

You can put down up to 7 security deposits, each one reduces the MF by a percentage (and your payment), and you get all the money from your deposits back at the end of the lease. Honestly though, you’re probably better taking the money (somewhere around $8-9k) and putting it into a HYSA, the money comes out to be about the same, but you’ll have access to it if you need it.

[trife.]

MSDs are always tempting and they make financial sense. I just hate the potential hassle of them when I inevitably want to jump into something new. I think they’re great if you intend to ride out your lease. But if you switch cars up often by swapping the lease, MSDs can be a turnoff to a lot of buyers = harder to get rid of your car.

[Vmaxx]

Originally Posted by trife.

MSDs are always tempting and they make financial sense. I just hate the potential hassle of them when I inevitably want to jump into something new. I think they’re great if you intend to ride out your lease. But if you switch cars up often by swapping the lease, MSDs can be a turnoff to a lot of buyers = harder to get rid of your car.

They used to more sense but these days I would not recommend it. As Cane mentioned, you’re better off with a HYSA or investing it elsewhere.

[gohawks23]

Originally Posted by Vmaxx

They used to more sense but these days I would not recommend it. As Cane mentioned, you’re better off with a HYSA or investing it elsewhere.

MSDs still make good financial sense. The guaranteed annual ROI is around 8% and is tax free.

[GearRex]

Originally Posted by BIGW0RM

How much did you put down on your lease to have 20k positive equity? That seems ungodly high.

Is the miles I presume. My M3 only has 15K miles. The Autonation offer was guaranteed. It has expired since because I did not go through with the transaction.

I sold them a Porsche 911 S Cabrio a few years back. They made the best offer online and it was true - no BS. I brought the Porsche in, they inspected it while I waited about an hour, and I walked away with a check in hand.

When I got the G80 it was late 21, I brought my F80 in to buy it - just like I am doing now, I had not intention of leasing another one, but they made me an offer to buy the car over the payoff amount and put me on the G80 they had in the lot. I did put $5K down (to pay for the first month and usual stuff) and walked away with $6K in my pocket. Got the car at MSRP, but the Lease Financing was still good from BMWFS. It was early COVID and things were still good, but no one was buying. The G80 payoff worked out to approximately $41.5K. I was fortunate.

I don’t know why Autonation offered $60K, but that’s how it worked out. I think the used car market is still crazy. I have seen 5-6 year old F80’s selling for $55K with 30-40K miles.

[GearRex]

Originally Posted by IDBGOD

It will be MSRP, plus whatever their fees are. There are no discounts or rebates on an M3 and no special financing offers.

Some dealers will still even try market adjustments just to see if they can still get them.

In fact, BMW does not even offer a center employee lease/purchase to employees on an M3. They do on the M4, but not the M3. Pretty much every car but the M3 and M2.

So if they are quoting less than your current lease payment, they are 100% using the equity in your current car to get there. You should also check the offer and make sure it is for a 2025, since 2024’s pretty much don’t exist anymore. A 2024 probably isn’t even on their lot.

You basically have two options:

Buy out your lease and keep it/sell it, or use the equity to order a new one.

Or…you can try to hold out on a deal maybe by year end. Buy out your lease and wait. The market may be adjusting, but I still don’t see low interest rates and aggressive deals on an M3 happening. What you may loose however, is more equity as the prices on used cars (even M3’s) have been adjusting.

I would weigh out if you have any interest in the LCI vs what you have now. If you want a new one, take advantage of the equity now. Or buyout your car and be happy, or sell it and cash out.

Whatever you decide.

I extended my lease for 2 months to give me maneuvering room. Hopefully financing gets a little better on the new cars, but I expect not by much. If I keep it, the extra 2 months will only lower the payoff a bit more (marginally, but this isn’t important). What is important is not make a rushed decision.

I spoke to the dealer and the lease offer they were making assumed that they would buy the car, and the positive equity would be rolled over to the new car as Capitalized Cost Reduction (never a good idea when leasing anyway - never put money down), but this is how the offer was calculated in their emails. I didn’t even asked about their purchase offer. Needless to say I did not like the deal, I thanked them and hung up.

Yes, the price of the new car they offered was MSRP. No discounts. It was a 2025 and I would have to order it as they don’t have a spec I would like in manual transmission (I want another manual).

I am leaning heavily towards keeping the current car, and skipping the entire LCI generation. I like the dashboard design and the laser lights in my car better than the LCI models (I do not like the cat eyes). Besides, my car is in perfect condition, low miles, and I can buy it for about $40K plus tax, title/registration. Is the sensible choice, not that most of us are sensible with our M car purchases.

What else can you get for $40K that can do what the G80 can do?

I am looking for a dealer anywhere in the US that can do the purchase transaction with no shady added fees. Does anyone know if the BMW dealer needs to be located in Florida?

[GearRex]

Originally Posted by ///M-Furby

Autonation offering 60k seems high to me too, especially for a base model. However, if you look at sale prices on 3 year old M3's, the numbers are stupid high. I was looking at 2016-2018 M3 Competitions and all of those are hovering around 50-60k....and that's for last gen.

Mine is a 21 MY with 15K miles. They can flip it for $67-70K and if they do a Pre-owned Certification (they have a BMW Dealer in their network) they can get a little more with little to no effort. They know what they are doing.

[Bch53211]

I’m in the process of ordering an M4 one local dealer has an allocation for me, but I’m not in a huge rush as I have until March to turn in my current car. I have been negotiating with three local dealers. They are offering me $1000 lease loyalty along with 4 to 5% Discount off MSRP. Rather than chasing a payment I am just trying to negotiate the best price. My question is how do I monitor what the lowest available money factor rate is? Is there a way of getting that verified somehow and to continue to monitor until I take delivery?

['Cane]

Originally Posted by Bch53211

I’m in the process of ordering an M4 one local dealer has an allocation for me, but I’m not in a huge rush as I have until March to turn in my current car. I have been negotiating with three local dealers. They are offering me $1000 lease loyalty along with 4 to 5% Discount off MSRP. Rather than chasing a payment I am just trying to negotiate the best price. My question is how do I monitor what the lowest available money factor rate is? Is there a way of getting that verified somehow and to continue to monitor until I take delivery?

If you get an allocation this month (or next) you’re looking at production in week 47 or later, most likely. Add that it can take 10 weeks still to arrive stateside, you’re getting close to March delivery. I wouldn’t wait much longer.

[Bch53211]

Originally Posted by 'Cane

If you get an allocation this month (or next) you’re looking at production in week 47 or later, most likely. Add that it can take 10 weeks still to arrive stateside, you’re getting close to March delivery. I wouldn’t wait much longer.

Yeah and thats including extending my lease a month or two .

[Bch53211]

May close a deal tmrw and take the available allocation , does anyone know the current lowest absolute money factor rate? I realize I will get the rate that’s available at delivery but thinking it’s unlikely it will go up in the next few months .