[NikonMan]

The buyout figure is predetermined at lease inception based on the estimated residual value - which is a percent of the sales price. You pay for the depreciation of the vehicle during the lease period, plus interest (money factor) and tax - as a monthly payment. The residual percentage is not negotiable and is set by BMW. Typically BMW inflates the residual to lower the depreciation - and hence the payment - to entice leasing customers. Depending on market trends and sales goals, BMW will adjust the lease money factors or buy rates to move certain vehicles. Typically, buy rates are lower when they want to shift sales from leases to purchases or vice versa. Usually this occurs when there are too many lease returns for a given model. BMW makes money on lease returns by selling the vehicles back to dealers for less than residual as the dealers assume the CPO prep costs - other vehicles go to auction. You are contractually bound to the terms of the lease agreement - rarely will BMW adjust the residual at lease end - but depending on the model they may. It generally makes little sense to buy a leased car unless it has very little mileage. Financing a lease buyout makes even less sense as the rates are usually higher. If you have equity in a lease due to low mileage etc., you can sell the car privately and pay off BMW - they don't care as long as they receive the payoff amount - and pocket the remainder. Dealers will never transfer positive equity back to you - unless there is a BMW jump ahead program where BMW will waive remaining payments - to get you into a new car. Negative equity on a lease is generally not something to worry about as it's BMW's issue - just drop the car off and walk away or get into a new vehicle.