Buying out a lease

daveuk100daveuk100 Member Posts: 24
edited August 2020 in BMW
Dear community!

I am on my second BMW i3 lease. My current lease is a 2017 BMW i3 bEV with the gigaworld trim and the lease ends in late August. I don't want to start another lease at this time, so I have been looking into the purchase/buy-out option at the end of my current i3 lease. My mileage is also low (about 14k).

The MSRP of my car was about $51k before all of the various incentives that were around at the time. In my BMW FS account, the current buy-out price is shown as $20,950 . Looking around at pre-owned i3's and the KBB price, it doesn't seem to be that unreasonable of a price, but it's not an amazing deal either (I was hoping for a better offer given that many people aren't buying cars this year).

Does anyone have any experience with lease buy outs? The BMW FS website says in their FAQ that they do NOT negotiate pay off prices...is that really true? Is the price I am being quoted above terrible compared to what others have been offered? Would you take that deal or get another i3 lease at this point? I'm just curious.

I'm also based in WA state and have heard that there is a rebate on purchases of a used EV under $30k...so that is another factor of why i'm considering the buy out. Need to look into that some more.

Thanks
Dave

Comments

  • MichaellMichaell ColoradoModerator Posts: 192,971
    daveuk100 said:

    Dear community!

    I am on my second BMW i3 lease. My current lease is a 2017 BMW i3 bEV with the gigaworld trim and the lease ends in late August. I don't want to start another lease at this time, so I have been looking into the purchase/buy-out option at the end of my current i3 lease. My mileage is also low (about 14k).

    The MSRP of my car was about $51k before all of the various incentives that were around at the time. In my BMW FS account, the current buy-out price is shown as $20,950 . Looking around at pre-owned i3's and the KBB price, it doesn't seem to be that unreasonable of a price, but it's not an amazing deal either (I was hoping for a better offer given that many people aren't buying cars this year).

    Does anyone have any experience with lease buy outs? The BMW FS website says in their FAQ that they do NOT negotiate pay off prices...is that really true? Is the price I am being quoted above terrible compared to what others have been offered? Would you take that deal or get another i3 lease at this point? I'm just curious.

    I'm also based in WA state and have heard that there is a rebate on purchases of a used EV under $30k...so that is another factor of why i'm considering the buy out. Need to look into that some more.

    Thanks
    Dave

    The BMW FS website says in their FAQ that they do NOT negotiate pay off prices...is that really true?

    Yes.

    Residual values are set up to achieve a low payment, not to approximate market value at the end of the lease.

    We don't track pricing, so no opinion on whether yours is good or not.

    Edmunds Price Checker
    Edmunds Lease Calculator
    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


    MODERATOR

    2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

Sign In or Register to comment.