[mickliq]

I know a few years ago, when there was a used car shortage, BMW basically blocked you from selling a leased vehicle (they were trying to have dealers capture profit/equity in used leased vehicles because they didn't have new ones to sell).

Is this still the case, or have things eased as there isn't the same lack of new vehicles anymore?

I have a relatively low-mileage 2022 G80 M3C that's well optioned, and although I'm not ready to get something newer yet (it's just nearing its 2nd anniversary and I love it as much as day 1), I may well be tempted when the LCI's arrive (still not sure about lack of buttons!!!). I expect given the price increases since I took delivery, there is some equity in the lease (maybe $5-10k) that I don't want to just let go. Obviously I can try to haggle with dealers but they will want to keep as much of that for themselves.

Note: I've sold many leased vehicles over the years with this kind of equity in them, it was only my most recent experience in 2022 with BMW when I hit a wall.

Note 2: Yes, I know I can try to transfer a lease where I have the person assuming the lease put $ down, which I guess is another option.

Note 3: Buying out the vehicle and then selling it onwards is a pain I'd rather avoid, and also triggers HST on the balance which defeats the whole purpose.

Thanks in advance!

[Habber]

I think there was a 1 year restriction but that might be just here in Canada.

Read the lease. It must be clearly defined.

[Burrcold]

Is it an xDrive? If not, don't be so sure you have any equity at all. RWD models are sitting for so long.

[mickliq]

Originally Posted by Burrcold

Is it an xDrive? If not, don't be so sure you have any equity at all. RWD models are sitting for so long.

Yes, ofc. Xdrive.

[mickliq]

Originally Posted by Habber

I think there was a 1 year restriction but that might be just here in Canada.

Read the lease. It must be clearly defined.

Because it's basically an accomodation sale (where the dealer orchestrates the sale and purchase through them, payoff of BMW FS lease and remaining equity going to the seller), it doesn't really need to be in the lease, the dealers can just refuse to play ball, which is what was happening back in 2022. That's what I'm getting it -- does anyone have first hand knowledge of what the current state is?

[Forzanerazzurri]

How do you sell a rental?

[mickliq]

Originally Posted by Forzanerazzurri

How do you sell a rental?

Buyer pays dealer the amount agreed with seller, plus tax.
Dealer pays off Lease to BMW FS
Any remaining "equity" is conveyed to seller (original lessee).

[LuvMyE92]

I believe that what the OP is asking was (and may still be) a condition of the lease wherein you cannot do an outright sale of the car to a non-BMW dealer. You can still do a trade-in, but if selling the car to an individual, BMW Financial prevents that, somehow, for some reason.

If you want to get out of the car and possibly get some equity out of it without going through a dealer, you could try Swapalease.

Although, honestly, if there is equity in the car, selling it to a BMW dealer would be the easiest way. Even if you get only wholesale for it, privately selling a two year-old car these days is a huge hassle, and you'd be lucky to get anything near retail for it.

[DFW_M]

Originally Posted by Forzanerazzurri

How do you sell a rental?

you obviously do not understand the basics of a lease and WHY there is the Payoff amount associated with it.
Does AVIS give you the same details when you rent it from them?

[Forzanerazzurri]

Originally Posted by mickliq

Buyer pays dealer the amount agreed with seller, plus tax.
Dealer pays off Lease to BMW FS
Any remaining "equity" is conveyed to seller (original lessee).

Thanks

[Forzanerazzurri]

Originally Posted by DFW_M

you obviously do not understand the basics of a lease and WHY there is the Payoff amount associated with it.
Does AVIS give you the same details when you rent it from them?

Obviously not because I don't rent my shit

[DFW_M]

Originally Posted by Forzanerazzurri

Obviously not because I don't rent my shit

seems to me you have not left your village...
There is sooooo much out there to see and explore....

[JayML]

Originally Posted by Forzanerazzurri

Obviously not because I don't rent my shit

You just take out a loan, so the bank owns your car until you pay it off

And you obviously don’t own your own business either. My business pays my lease. I put low km on it, so at the end of the lease I always have equity. So I get to drive a car for free, and make money every time I trade it in or get a new one.

You associate leasing with affordability. You shouldn’t do that. I could buy a car any time I want to. I choose not to. My money gets put to better use. Even if someone buys a car, it’s costing them 6 to 7% easy these days to buy it. So on a 100k car, you’re losing 6 to 7k in earnings per year I can get. And if you’re borrowing the money it’s even more. More like 12 to 14k a year it’s costing you. Because you’re paying the bank. It’s a depreciating asset no matter how you look at it. Just drive it , and enjoy it.

[DFW_M]

Originally Posted by mickliq

I know a few years ago, when there was a used car shortage, BMW basically blocked you from selling a leased vehicle (they were trying to have dealers capture profit/equity in used leased vehicles because they didn't have new ones to sell).

Is this still the case, or have things eased as there isn't the same lack of new vehicles anymore?

I have a relatively low-mileage 2022 G80 M3C that's well optioned, and although I'm not ready to get something newer yet (it's just nearing its 2nd anniversary and I love it as much as day 1), I may well be tempted when the LCI's arrive (still not sure about lack of buttons!!!). I expect given the price increases since I took delivery, there is some equity in the lease (maybe $5-10k) that I don't want to just let go. Obviously I can try to haggle with dealers but they will want to keep as much of that for themselves.

Note: I've sold many leased vehicles over the years with this kind of equity in them, it was only my most recent experience in 2022 with BMW when I hit a wall.

Note 2: Yes, I know I can try to transfer a lease where I have the person assuming the lease put $ down, which I guess is another option.

Note 3: Buying out the vehicle and then selling it onwards is a pain I'd rather avoid, and also triggers HST on the balance which defeats the whole purpose.

Thanks in advance!

Go on my BMW page and click on the payoff amount and it will say there that it does not work for the third parties (STILL).
I am not really sure what that means in reality since:

1) in February of 2023 we turned in my wife’s X3 with 7 months left on the lease and Acura took care of it and we heard nothing more and the lease account was closed
2) yesterday, i took my G80 (25 months left on the lease) to Porsche and they said they cannot buy the BMW lease because “BMW does not allow it” and sent me next door to the BMW dealer to see if they can take me out of the lease.
Ironically, as i walked in the Bimmer dealer, there was a 2023 Macan GTS in their show room! It is in my garage now