2017 M4 Lease: Return or buy?

[M4KOBEL]

Hello Everyone, I am new to the forum, and I’ve come here seeking your advice. I’ve been driving a beautiful M4 Competition Convertible for the past three years, and I’m 60 days from lease return. The car has 22,000 miles on it, and it is pristine. I love this car, and I’ve fussed every detail of it for these past three years. I’ve been driving only BMWs since I purchased my first one, a 325 convertible, in 2001, and while my 2005 330 ZHP convertible was awesome, I have enjoyed this M4 even more.

I have been seriously considering buying the car in 60 days, if I can negotiate a fair price. However, I have some concerns. Of course, I’ve been told you never do this; it does not financially make sense. But, from my perspective, this car is mint, so if I can get it at fair market value, I win because of its outstanding condition.

I’ve also been told I should only do this if I’m willing to purchase maintenance coverage for an extended period of time because of the high cost of repairing these cars.

I’ve also been told, it’s not worth it to buy this car. The residual value, plus the cost for the dealer to certify the car, plus the cost of the maintenance plan will push the price so high it just won’t make sense.

I’ve also been told these cars are not meant to be kept long term. This person told me the cost of ownership and the ongoing maintenance and repair needs make the M cars a costly pain in the behind. I will say the cost of ownership details I’ve found online regarding M4s does appear to be significant.

I would really value hearing from those of you who are owning these cars. Is any of this stuff legit? I’m getting ready to begin shopping and evaluating all of my options, and would value hearing about your experiences.

Thanks in advance for any information you can share!

[Nativetexan]

I'm a long time BMW owner but have my first M car now.

For me I'd

1. Pass on the maintenance plans. It's just prepaying the same maintenance you'll do eventually. I wouldn't pad that cost into my note. Do the research and find reputable Indy shops to do some of that work for you.

2. If you like the car negotiate a price on it and keep it.


3. As far as warranty, I'd buy a 2-3 year one to keep you safe until your far enough money into the new note to have a lot of equity built up, considering you finance the rest for say 4-5 years.

4. realize no M car ever makes financial sense. They're just bad ass to drive!

[///M4ster Yoda]

Just so you know OP there is no negotiating on the car. The residual value that was set at lease inception is your price. A few years ago BMW did away with allowing customers to "renegotiate" the lease end purchase price.

I'll be in your position in a couple years. I might buy out my current 2020 ///M4 ZCP. One thing is certain I WONT be driving that buck tooth mess of a "car" that's coming in a few years.

[DocL]

Two ways to look at it.

First, you're the original owner and have cared for the car very well, even though it wasn't "yours". I'll be in the same boat in April 2018. However I assumed the lease on my car, it only had 11k miles on it, so I'm not too invested in it fortunately.

Second, start checking the classifieds for similar cars to your's to give you an idea of current prices.

Either way there's no reason not to get another M4 vert.

[M4KOBEL]

Everyone, Thanks for this feedback. Very helpful. So, BMW will no longer allow negotiation on the lease-end purchase price? Really? I think that’s going to present a problem. From what I can see online, the car isn’t worth the residual value/purchase price, and I can’t see paying more than market value. Thoughts?

[M4KOBEL]

Yes, I see your point. However, I understand that BMW will no longer allow negotiation on the lease-end purchase price. Is that true? If so, it’s going to present a problem. From what I can see online, the car isn’t worth the residual value/purchase price, and I can’t see paying more than market value. Thoughts?

[///M4ster Yoda]

Originally Posted by M4KOBEL

Yes, I see your point. However, I understand that BMW will no longer allow negotiation on the lease-end purchase price. Is that true? If so, it's going to present a problem. From what I can see online, the car isn't worth the residual value/purchase price, and I can't see paying more than market value. Thoughts?

Decisions Decisions. Not sure what else to add. Is the car worth it to you?

[M4KOBEL]

Is the car worth it to me? Emotionally, yes! Objectively and financially? I don’t know yet. Im going to start the conversation with the dealer shortly. I also want to drive some other cars so I’m grounded in what’s out there. So, I should be able to answer that question more rationally over the next several weeks.

[mdechnik]

Is there no way to turn it in to a local dealer and drive a rental while you negotiate a more reasonable price for that same car you just turned in?

[M4KOBEL]

A good point. I fully intend to consider a similar option. The M4 is a nice weather car for me. I drive it to the first snowfall here in PA and then park it. Aside from running it weekly, it never sees the chemically treated roads. Bottom line, I don’t need this car during the winter months.

So, if the dealer doesn’t want to make a deal on the car in December, I’ll return it, and they can have a rear-wheel drive M4 convertible sit on the lot until April or May when the weather is descent and people are again willing to purchase it. Maybe I can get to a deal on it in this scenario, and if not, I can save myself some cash and buy or lease something else in the spring.

[alex2364]

Originally Posted by mdechnik

Is there no way to turn it in to a local dealer and drive a rental while you negotiate a more reasonable price for that same car you just turned in?

Originally Posted by M4KOBEL

A good point. I fully intend to consider a similar option. The M4 is a nice weather car for me. I drive it to the first snowfall here in PA and then park it. Aside from running it weekly, it never sees the chemically treated roads. Bottom line, I don’t need this car during the winter months.

So, if the dealer doesn’t want to make a deal on the car in December, I’ll return it, and they can have a rear-wheel drive M4 convertible sit on the lot until April or May when the weather is descent and people are again willing to purchase it. Maybe I can get to a deal on it in this scenario, and if not, I can save myself some cash and buy or lease something else in the spring.

No way they will let a convertible sit 6 months in the northeast. They will send it to auction and some dealer in Florida, Arizona, or Cali will get it.

[///M4ster Yoda]

Originally Posted by alex2364

No way they will let a convertible sit 6 months in the northeast. They will send it to auction and some dealer in Florida, Arizona, or Cali will get it.

Just to add that it is BMWs current policy that the previous owner CAN NOT "repurchase" said vehicle on a discount. 1 day or 6 months after lease return makes zero difference. Sorry OP there is no way around it. Buy it at the residual price or move on.

[itrocks4u]

What did you end up doing op,