Automotive

2017 BMW X3 Buyout

  • Last Updated:
  • May 4th, 2019 10:26 pm
[OP]
Jr. Member
Mar 31, 2013
136 posts
39 upvotes

2017 BMW X3 Buyout

I'm just in the process of taking over a lease on this vehicle. I'm on the hook for the $1500 lease transfer fee. The lease runs for another 14 months at which point I intend to buy it out. It says the admin fee on the buyout is $999. Having already paid the lease transfer fee, I'm not really wanting to get dinged another admin fee. I have heard that if I deal with BMW Financial, then I could possibly avoid the fee. My other question, is the buyout price negotiable???. Any help and comments would be greatly appreciated.
38 replies
Deal Expert
User avatar
Jul 30, 2007
28460 posts
13798 upvotes
Toronto
No negotiation on buyout price.

Aside, why would you absorb the lease transfer fee to begin with? You are buying a used car and if current owner put down next to nothing, then it’s not a good buy, imo.
Last edited by booblehead on May 2nd, 2019 5:31 pm, edited 1 time in total.
[OP]
Jr. Member
Mar 31, 2013
136 posts
39 upvotes
booblehead wrote: No negotiation on buyout price.

Aside, why would you absorb the lease transfer fee to begin with? You are buying a used car and if current literally put down next to nothing, then it’s not a good buy, imo.
The reason why....only has 25k on it , with 14 months left...$5600 down payment...they paid $7k for premium enhanced package, $1500 for tire and rim warranty and $1500 for $ Excess Wear and Use, $1500 for Leather Upgrade...car is mint.....if I like it, I buy it out for $25k...if not, I give it back, no hassle>
Sr. Member
Oct 21, 2006
592 posts
356 upvotes
yeah I wouldn't be willing to absorb the $1500 lease transfer unless the monthly payment is incredibly low
[OP]
Jr. Member
Mar 31, 2013
136 posts
39 upvotes
Jigsaw wrote: yeah I wouldn't be willing to absorb the $1500 lease transfer unless the monthly payment is incredibly low
It's low....the car is loaded and comes with Tire/Rim and Excess Use Warranties..I intend to keep it...I'm just trying to get out of the buyout admin fee.
Member
Dec 11, 2012
250 posts
110 upvotes
Coquitlam, BC
Remember, the person (you here) who is taking over the lease always has the best bargaining power, so have them pay for it or worst case split it halfway!
[OP]
Jr. Member
Mar 31, 2013
136 posts
39 upvotes
Thank you for your comments....I'm not asking anyone who should pay my lease transfer fee...I'm comfortable with my negotiated deal with the seller...its mor about the buy out being negotiable and the $999 admin fee for the buyout. Is there a way to avoid the buyout admin fee?
Deal Guru
User avatar
Oct 5, 2008
13615 posts
7740 upvotes
Toronto
There’d no renegotiating the terms of a previously agreed upon lease
Deal Addict
Jan 31, 2007
2799 posts
2393 upvotes
Richmond Hill
mmbilly wrote: I'm just in the process of taking over a lease on this vehicle. I'm on the hook for the $1500 lease transfer fee. The lease runs for another 14 months at which point I intend to buy it out. It says the admin fee on the buyout is $999. Having already paid the lease transfer fee, I'm not really wanting to get dinged another admin fee. I have heard that if I deal with BMW Financial, then I could possibly avoid the fee. My other question, is the buyout price negotiable???. Any help and comments would be greatly appreciated.
Why on earth you think the buy out amount is negotiable??
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Bright side of RFD: 4 X Koodo $40/8GB plan
Dark side of RFD: Tons of stuff that I don't need but still got them because of RFD
******************************************************
[OP]
Jr. Member
Mar 31, 2013
136 posts
39 upvotes
cheapshopper wrote: Why on earth you think the buy out amount is negotiable??
More concerned if you can deal with BMW Financial and have the buyout admin fee waived. Just read somewhere about negotiating the buyout price.
Deal Expert
Jan 15, 2006
15665 posts
13359 upvotes
Richmond Hill
mmbilly wrote: It's low....the car is loaded and comes with Tire/Rim and Excess Use Warranties..I intend to keep it...I'm just trying to get out of the buyout admin fee.
The only way you’re getting out of the admin fee is by having the seller absorb it.
Deal Expert
Jan 15, 2006
15665 posts
13359 upvotes
Richmond Hill
mmbilly wrote: More concerned if you can deal with BMW Financial and have the buyout admin fee waived. Just read somewhere about negotiating the buyout price.
Not sure why this needs to be repeated so many times. The lease terms are non-negotiable, period. You cannot deal with BMW financial directly as all transactions are to be done at dealer level. You can ask the dealer if they are willing to lower the fee but don’t hold your breath unless you have an existing relationship.
[OP]
Jr. Member
Mar 31, 2013
136 posts
39 upvotes
EP32k2 wrote: Not sure why this needs to be repeated so many times. The lease terms are non-negotiable, period. You cannot deal with BMW financial directly as all transactions are to be done at dealer level. You can ask the dealer if they are willing to lower the fee but don’t hold your breath unless you have an existing relationship.
Thank you. You answered my question.
Newbie
Jul 26, 2018
4 posts
2 upvotes
You can’t re-negotiate the lease terms. But if you are concerned with the end of lease fees, you can negotiate them now with person you are taking over the lease from. Just saying.
Deal Fanatic
Oct 7, 2010
9621 posts
1670 upvotes
Why not drive it up real good and give the car back after. Since the previously guy paid for the lease wear and tare protection. 1500 is a lot to give for an admin fee.
Deal Fanatic
May 5, 2008
5480 posts
2146 upvotes
Winnipeg
What are the monthly payments?
[OP]
Jr. Member
Mar 31, 2013
136 posts
39 upvotes
airmail wrote: What are the monthly payments?
My intention was to just buy a used car right now. So this gives me an insurance policy on which I can figure if I want to buy it out at the end....$730 +tax....14 payments left...buyout is $25,400= $35,600...he paid $62k new...car is 2 years old....27,000 km
Sr. Member
Apr 25, 2017
758 posts
611 upvotes
Richmond Hill
mmbilly wrote: My intention was to just buy a used car right now. So this gives me an insurance policy on which I can figure if I want to buy it out at the end....$730 +tax....14 payments left...buyout is $25,400= $35,600...he paid $62k new...car is 2 years old....27,000 km
you better do some math before taking over the lease, imo, residual + monthly payment * # of months left on the term + whatever the admin fee should be similar to what you see here

otherwise it would not be a good deal...
Deal Addict
Jun 15, 2003
1892 posts
222 upvotes
Have you done the lease transfer yet? I think it's only $1200, not $1500. Is the admin fee of $999 for the buyout stated on the contract? I was told $600 only for the buyout fee .
Deal Expert
User avatar
Jul 30, 2007
28460 posts
13798 upvotes
Toronto
buyout of $600 + probably safety inspection cost

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