[am_ver]

I was at a local auto trader today and he indicated that he would be getting more car later this month from the factory/BMW lease return sale - it sounds like that is the place for me to purchase or atleast look at some of the lease returns coming in (and buy directly from there).

Does anyone know how to get access to this sale?

[addy85]

auctions and I believe you have to have a dealers license or know someone with a dealers license for access to a car auction

[s1cke92]

Originally Posted by addy85

auctions and I believe you have to have a dealers license or know someone with a dealers license for access to a car auction

^what he said.


i have access to a dealer auction as i have dealer license but i dont buy these cars to sale because we are a small dealer and we only sell cheap cars. no my e92 is not from the auction my is bought private in Socal =)

i might can get you one but i dont have 30k in cash in my bank so i cant =\ haha i used all my money on this car and the mods.

[VeniVidiVicii777]

I believe some lease returns become CPO's..if they are in good condition that is.

[Bilka]

auctions????? wtf.

The only cars bmw dealers send to auction are shit cars they take in on trade, no lease returns are going to an auction.


Most/ALL Lease returns become CPO's or Used Cars, for sale at the dealership or sold to other dealers such as Carmax or your local used car lot.

[solefald]

i work with this one guy who is leasing an E90 that was just returned from the previous 3 year lease. He paid for an extended warranty up to 100,000 miles and leased a 3 year old E90 with 40,000 on it for $170/mo!

I was pretty surprused when i found out that you could actually lease a 3 year old car from a dealer!

[BMW F22]

Originally Posted by addy85

auctions and I believe you have to have a dealers license or know someone with a dealers license for access to a car auction

+1. I think Manheim is the main one but there are a few other auctions.

[twinturboa51]

Originally Posted by DineshD

auctions????? wtf.

The only cars bmw dealers send to auction are shit cars they take in on trade, no lease returns are going to an auction.


Most/ALL Lease returns become CPO's or Used Cars, for sale at the dealership or sold to other dealers such as Carmax or your local used car lot.

not sure about this...... i think they all have to go back to bmwusa because that is who leased them and not the dealer. i also think the cars you buy from auction can be demo/company cars. i not 100% sure because im not a dealer.

[craigcayetano]

It depends on the dealer...most of us are "Full Circle" which means we have to buy a certain % of the lease returns we take in...So the aka "rats" damaged or high mileage cars go to BMW then to auction. My advice check the history "first" before focusing on the price...There are a few E92/93's coming of 2yr. leases now.

[6speedGaren]

I found mine in a bank lot, it was a credit union, Some banks have inventory of lease turn in cars, even though they dont have it on their lots.
You can ask merchant teller or manager where they keep their inventory.

[freshwhite335]

Originally Posted by DineshD

auctions????? wtf.

The only cars bmw dealers send to auction are shit cars they take in on trade, no lease returns are going to an auction.


Most/ALL Lease returns become CPO's or Used Cars, for sale at the dealership or sold to other dealers such as Carmax or your local used car lot.

wrong. totally wrong

[haze324]

you can also get lease repo's at auctions....there's TONS of them.

Find someone with a dealer lic. that has access to Manheim auctions. Have them pull up all up coming auctions in your area and if any BMW's are listed (there will be for sure). Try to go with him and sneak in or he can take you the day prior to see the car at most auctions. Have him bid for you and tell him you'll pay him a "broker fee" for his time.

The only catch is if you don't have the cash on hand you gotta get creative because you need to pay for the car on the spot.

If you have access to auctions you can get a really nice deal there - you just have to be a little patient and sometimes have to settle for what you can find.

[Bilka]

Originally Posted by freshwhite335

wrong. totally wrong

Rather than giving a useless three word answer, please explain, if the lease is through BMWNA the cars stay with the dealer after inspection. If it is totally wrong, please provide feedback.

Working with Acura for 4 years, any lease return that was through American Honda Financial, came back to the dealer, was inspected by a rep from American Honda and put right back on the lot for sale, certified or not.

[BzzzBom]

If any one is looking for a 335i coupe in space gray with low milage please call South bay BMW in L.A. and ask for Steve Marx. I returned the car yesterday (2 year lease) and took delivery on an 09 coupe. The car has been garaged at work and home, has 20,000 miles, only one small ding (approx 1 mm) and has been hand washed +/- waxed weekly. I have owned BMWs since 1977 and am anal about keeping them perfect. PM me if you want more information. BTW, it has the original pre 29.2 software.
Steve Marx @ South Bay BMW 310-939-7300

[jopa489]

Originally Posted by freshwhite335

wrong. totally wrong

Actually, you're wrong.

The actual numbers depend on the dealer, but something like 80-90% of all lease returns get resold (most as CPO) right at the dealer.

The dealers only send the worst condition ones to auction. Which may not be bad condition necessarily, but the "cream of the crop" lease returns are sold right at the dealer. And in these times, with used car sales actually doing quite well, I wouldn't be surprised if it's actually 90% or above. Dealers are forgiving leases early for people if they buy/lease a new car just to get the CPO-able ones back to sell used.

[addy85]

Originally Posted by jopa489

Actually, you're wrong.

The actual numbers depend on the dealer, but something like 80-90% of all lease returns get resold (most as CPO) right at the dealer.

The dealers only send the worst condition ones to auction. Which may not be bad condition necessarily, but the "cream of the crop" lease returns are sold right at the dealer. And in these times, with used car sales actually doing quite well, I wouldn't be surprised if it's actually 90% or above. Dealers are forgiving leases early for people if they buy/lease a new car just to get the CPO-able ones back to sell used.

Actually, I worked at a dealer and although some of what you say is true, it's not very accurate.

As a pre owned manager whenever someone returns the lease, we the dealership, have the right to buy it but don't do so 80-90% of the time because of the condition of the car or how much they factory wants for it.

A lot of times it's not worth what the factory wants for it and sometimes it is. Many of the cars cycle back through the auction where dealers go, including bmw dealers, and buy car that they can CPO because it's cheaper for them to buy the car at the auction then directly from the manufacturer. Once in a blue moon did I actually buy a lease return without checking the auction first but it was rare.

The pre owned market has been shitty for the past year so less and less lease returns are being bought directly by the dealer.

The op however, asked how he could get his hand on a lease returned vehicle which is why I suggested the auction since obviously the op doesn't own his own bmw dealership

[addy85]

Originally Posted by DineshD

auctions????? wtf.

The only cars bmw dealers send to auction are shit cars they take in on trade, no lease returns are going to an auction.


Most/ALL Lease returns become CPO's or Used Cars, for sale at the dealership or sold to other dealers such as Carmax or your local used car lot.

btw your also incorrect. See my post above for an explanation.

[blue2fire]

Originally Posted by DineshD

Working with Acura for 4 years, any lease return that was through American Honda Financial, came back to the dealer, was inspected by a rep from American Honda and put right back on the lot for sale, certified or not.

This might work with the low number of leases that Acura has but i highly doubt it could be implemented at BMW. There is also the question of slightly unsavory examples of returns that you just might not want to sell, like addy85 stated.

[s1cke92]

i go to the auction! geez they're REPOs and LEASE Returns some are damage and been fixed some never been damages its all mixed in.

dealers do keep the better ones but they cant keep em all, as they wont have room to put it i guess. every time one of these auction comes along there about 700 cars and about 50 lemon laws also at the end haha

[addy85]

Originally Posted by s1cke92

i go to the auction! geez they're REPOs and LEASE Returns some are damage and been fixed some never been damages its all mixed in.

dealers do keep the better ones but they cant keep em all, as they wont have room to put it i guess. every time one of these auction comes along there about 700 cars and about 50 lemon laws also at the end haha

ya lets of lemoned bmw's lol