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Discussion Starter #1
Hey, folks....

I'm in a short lease deal with BMW with my M5. I like this vehicle a great deal and don't much care for the Asian/Pontiac face/tail, flame contoured crap that the new M5 has going. BTAIM... others may disagree.

I'm interested in purchasing my car... which has low miles (maybe 12K on the '03 M5).

I wonder if one can purchase a car one leases? And.... can one do so before the lease is done?

Also....can I get a CPO deal attached, like an additional 6 year and 100K warranty on top of the original?

Thanx in advance, m'friends.............. BAGGER
 

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That is exactly what I did. I did wait until the end of the lease. It was a strange transaction, exactly as if I traded the car to the dealership and bought it back plus the CPO. I had to sign buyers and sellers papers. They made a small amount of money on the deal.
 

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Discussion Starter #3
Tell me how this went down...

<<I had to sign buyers and sellers papers. They made a small amount of money on the deal.>>

Richard... tell me more about how this went down. I may wait until the end of my lease to do so as well, but I would be interested in how this "buy out" occurred.

I bought my pick up a year ago when the lease was done.... it was a 6 month fiasco. I'm still not sure who owns the vehicle.

TIA...... BAGGER
 

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Yes. Basically, you will be paying the payoff on the car plus tax. (To find the amount, call BMW FS or the bank you leased it through). If you want to CPO the car, you would have to "sell" the car to the dealer, pay the CPO fee ($1200) and "buy" it back from them. A little more complicated but I have done it twice already.



Bagger said:
Hey, folks....

I'm in a short lease deal with BMW with my M5. I like this vehicle a great deal and don't much care for the Asian/Pontiac face/tail, flame contoured crap that the new M5 has going. BTAIM... others may disagree.

I'm interested in purchasing my car... which has low miles (maybe 12K on the '03 M5).

I wonder if one can purchase a car one leases? And.... can one do so before the lease is done?

Also....can I get a CPO deal attached, like an additional 6 year and 100K warranty on top of the original?

Thanx in advance, m'friends.............. BAGGER
 

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Yes, it worked exactly how SANguru said. I think I did it the last month of the lease. To do it earlier would involve extra payments added to the payoff. I spoke to the dealer about the procedure with about 3 months to go and just waited.
 

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My M was a leased vehicle. Seller bought out the lease prior to the end. (Bend over and grab something..)

Actually, a dealer purchased the car from BMWFS, added the CPO, sold it to me.

The pay off is not just the sum of all the payments- but is something less... not but as much less as would seem reasonable :)

When you buy out the lease early, there is no leverage. When the lease is over, BMWFS may be willing to negotiate the purchase.

A
 

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Yes, you can purchase your car mid lease. I did it with my previous 540i/6. I called the 800 # for BMWNA and told them I wanted to covert my lease to a purchase. They drew up the paperwork and fed-ex'd it to me I signed and got it notorized, and fed-ex'd it back. Done deal it was that easy. As far as CPO warranty you'll have to take it to your local dealership and they will inspect and CPO for a fee. Good Luck :)
 

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Beamer_usa said:
Yes, you can purchase your car mid lease. I did it with my previous 540i/6. I called the 800 # for BMWNA and told them I wanted to covert my lease to a purchase. They drew up the paperwork and fed-ex'd it to me I signed and got it notorized, and fed-ex'd it back. Done deal it was that easy. As far as CPO warranty you'll have to take it to your local dealership and they will inspect and CPO for a fee. Good Luck :)
Careful- once you purchase the car from BMWFS the dealer is not permitted to CPO it. They MIGHT, but not a guarantee.

The dealer needs to buy it from BMWFS (for the 'current buy out price') then sell it to you for than price 'plus whatever'. A CPO costs them around $1200-1300. If you know the dealer well, they might be do it at cost just to have a sale on the books. I paid $500 for the 'service' when I bought mine.

Technically, a car can only be CPOd when the dealer is the owner... even if they are the owner for 5 minutes :)

A
 
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