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      05-04-2019, 09:10 AM   #1
Stan550
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M6 GC End of Lease Value Question

The lease ends on my M6 GC at the end of May and Iím interested in buying the car but Iím not sure if the residual ($73,000) is the correct market value for the car. Here are the details on the car, anyone that can share their knowledge on this I would greatly appreciate it. Thank you

Stan

2017 33,000 miles
Tanzanite Blue (exclusive)
Amaro Brown full leather (exclusive)
Competition Package
B&O upgraded sound system
Executive package
BMW Performance carbon fiber rear diffuser
BMW Performance carbon fiber rear spoiler (painted body color)
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      05-04-2019, 01:28 PM   #2
Flying Ace
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Oh no...no no no. The car is worth about $63-$67k. You should return it and buy it back in a separate transaction.

You got an amazing deal if 73 is what your lease payment was calculated at.

Last edited by Flying Ace; 05-04-2019 at 01:34 PM..
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      05-04-2019, 02:38 PM   #3
Stan550
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The sticker was $143k so just over 50% residual for 3yrs 12k miles is actually not the greatest. I agree with you though that the value should be in the mid $60k range. The dealer told me that they can turn the car in and buy it back at auction for me at a better price. Apparently there isn’t enough statistical wholesale information at BMW for me to negotiate a better price with them.
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      05-04-2019, 05:43 PM   #4
Flying Ace
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There is a ton of statistical auction info. Yoy can always go back in time and look at a comparable e.g. in 2017, look at a 2014 car of similar mileage and condition.

I talked to someone in the industry on this last week. It's crazy that BMW dealership is willing to force the cost on BMW Financial and do all that auction buyback, when it's cheaper to just renegotiate with you directly. But the franchise and corporate doesn't work together and independently run their own P/L.
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      05-04-2019, 06:07 PM   #5
Cincinnatus
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The residual for the car was determined at the time you signed the lease. If you want to buy the car, check your lease contract, and the number will be there.
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      05-04-2019, 07:14 PM   #6
Stan550
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Quote:
Originally Posted by Cincinnatus View Post
The residual for the car was determined at the time you signed the lease. If you want to buy the car, check your lease contract, and the number will be there.
This issue I have is not what is the residual is but is the residual meaningfully more than what the car is worth.
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      05-04-2019, 08:19 PM   #7
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Quote:
Originally Posted by Stan550 View Post
This issue I have is not what is the residual is but is the residual meaningfully more than what the car is worth.
Why not check what's on your lease contract, then look for similarly equipped comps (using M-Decoder) on cargurus, autrader, and so on?
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      05-04-2019, 10:18 PM   #8
irishbimmer
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OP:
Went through the same process with my 2015 Space Grey, comp pack M5. Had less than 25,000 miles when turning it in and they claimed it was worth 67k,(way above market) so, I bought a 2015 comp pack M6 for 59k with 20,000 miles and am much happier.

Fewer miles plus I bought a full warranty as insurance. Your car is beautiful-hope you can keep it but there are alternatives.
Bill
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      05-05-2019, 07:24 AM   #9
thebmw
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Ok, I'll bite and step in. Here is real time auction pricing.

M6 GC with 33K miles (not factoring in equipment)
2017: 51K
2016: 56K
2015: 46K

Obviously, there is a flood of 2017s right now thus the weird pricing. I would say it should be mid 60's, as flying ace stated. But yours is fully loaded and probably in perfect condition. I would imagine it would retail in low 70's. But if you gave it back to BMW, they would auction it for probably mid 50's. Very weird indeed.
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      05-05-2019, 08:39 AM   #10
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Additionally, you should take into consideration what is the value of knowing the history of the car and the fees and taxes you have to pay if you return this one and look for and buy another used one.
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      05-05-2019, 09:26 AM   #11
Stan550
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Thank you everyone for your input.
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      05-05-2019, 01:34 PM   #12
Cincinnatus
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This:
Quote:
Originally Posted by thebmw View Post
But yours is fully loaded and probably in perfect condition. I would imagine it would retail in low 70's.
And this:
Quote:
Originally Posted by TomM6 View Post
Additionally, you should take into consideration what is the value of knowing the history of the car and the fees and taxes you have to pay if you return this one and look for and buy another used one.
Are why I don't put too much stock in MMRs or other such valuations.
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      05-05-2019, 08:26 PM   #13
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Quote:
Originally Posted by Cincinnatus View Post
This:


And this:


Are why I don't put too much stock in MMRs or other such valuations.
MMR is the Bible for wholesale (thus retail) pricing. Everything is based off of it (including condition, equipment, etc). When all those are factored in, it will give an accurate auction price. Remember, MMR is not a made up number. It is a real time number based on real sales.
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      05-06-2019, 07:32 PM   #14
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Take the dealers offer to return the car and buy it back at auction for you. That gives you a discount and you get a car that you know it's history. That would be worth a couple thousand to me.
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