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11-30-2015, 07:40 PM | #1 |
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For those who leased - What are your plans at end of the lease?
Just curious- what are your plans for the end of the lease ?
anyone plan on selling for 1-3k more than the lease payoff? |
11-30-2015, 07:51 PM | #2 | |
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BMW is famous for subsidizing leases via inflated residuals. To top it all off, lease return value is calcuated as % of MSRP, not the actual (lower) negotiated sales price. Consequently, vast majority of cars are worth significantly less than their lease buy-off value. Having said all that, my M3 is a keeper, so she is financed. a
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11-30-2015, 08:49 PM | #3 |
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I might try to sell it towards the end of lease since Im positive that the actual market value will be higher than lease buy out based on my experience with E92 M3
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11-30-2015, 08:57 PM | #4 |
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Yup, this is especially true for low mileage cars in great shape and/or with lots of mods. Convertibles also in the right market at the right time because not a lot of them come up.
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11-30-2015, 09:32 PM | #5 |
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Depending on my financial situation at the end of my lease that will determine
my next car. Right now I'm thinking about a 911, if my business venture pans out that will determine which 911 I go for, we'll see. |
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12-01-2015, 06:20 AM | #6 |
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And don't forget ED cars...
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12-01-2015, 09:22 AM | #7 |
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Turn it in and get another M3, possibly M2/M5 and head to Germany
From a previous thread somewhere, apparently there wont be an M3 to lease in 3 years? I just took delivery of an MY16 and Ive alwyas thought the M3's life cycle is about 4-5 years. |
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12-01-2015, 09:56 AM | #8 |
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Did ED, got a great deal - I'll probably keep it.
Wanted the flexibility of a lease, and may buy it out before the lease is up. Not sure how that works though with the pricing I negotiated... Do I pay based upon the US MSRP or the negotiated ED price? |
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12-01-2015, 09:59 AM | #9 |
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depends on a few things...
whats out..what current rates/incentive are like...what the value of my car is vs the residual...
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12-01-2015, 10:00 AM | #10 |
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You never buy first generation BMW product lol. It's just..a known fact. Give it back after 2-3 years and let them work the bugs out and buy the last model year of the car if you truly like it that much.
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12-01-2015, 10:32 AM | #11 |
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My car will have really low miles at the end of the least probably 10k miles max. I will buy it out, and debate selling it privately. As of right now I love the car, and don't need/want to sell it unless I can make a decent amount on it. My buyout price will be ~$40k, I would think I could sell it for $55k ish with 10k on the clock
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12-01-2015, 10:37 AM | #12 | |
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12-01-2015, 10:57 AM | #13 | |
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so as I stated above, depending on the situtation and numbers I would consider another lease or financing my current...
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12-01-2015, 11:44 AM | #14 |
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I love this car so much that I want to keep it but realistically I will jump into a new lease for a 2017/2018 F80 depending on production schedules. After discovering leasing with BMW I have no interest in doing it any other way.
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12-01-2015, 01:59 PM | #15 |
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Like other replies, my plans would depend on how a few things look at the end of the lease. My car will likely have a shade under 20k at the end of the lease and should be in great shape. I see three likely scenarios:
- If the delta between the market value and residual is really favorable, then I'll buy the car outright in cash and flip it. Then go get a new toy. - If the residual is higher than the market value, then turn it in and go get a new toy. - If rates are low and the values are kinda close, I'd consider buying it and financing for another year or two. This kind of optionality is exactly why I'm such a fan of leasing. B. |
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12-01-2015, 02:08 PM | #16 | |
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12-01-2015, 02:33 PM | #17 |
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I just got my '16 F80 redelivered to me after an ED. Initially was thinking of just leasing and jumping into another lease in 3 years.
I had a change of heart, and by no means is the right way to do this... Contacted PenFed and got their balloon payment financing (final payment due in 36 months). I will therefore pay off the lease and start paying PenFed. Now, what was the benefit of doing it that way? My monthly payments went up $7, however my residual or final payment in the end will be almost 9k LESS than with the BMW lease. About 37k after 36 months. I think the car will be worth more at that point. However I will likely keep it for another 1-2 years after that.
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12-01-2015, 02:45 PM | #18 | |
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12-01-2015, 02:52 PM | #19 | |
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12-01-2015, 02:58 PM | #20 |
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My plan is....to not have a plan until the last possible moment. I will be okay on mileage and take good care of my vehicles, so I should be good no matter which route I go.
In the meantime I will enjoy the crap out of this car. -X- |
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12-01-2015, 03:02 PM | #21 | |
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If you want to buy it out early it will be a number higher than what is in your contract. I think you can see it in the BMW portal. |
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12-01-2015, 04:13 PM | #22 |
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Well for one I hate when my car gets dirty, absolutely hate it. So I wont drive it in the rain. Since I live in Minnesota the weather sucks from December - April with snow and salt, then May is bug season (where 50 trillion bugs splatter all over your car), so I wont drive it until June. Basically, I only drive the car 6 months of the year.
Plus to me, the less I drive the car, the more I enjoy it when I do drive it. I had my cobra for 11 years and had under 30k miles on it. I get bored of cars extremely quickly and that is due to over usage. I dunno I guess I am weird, people dont understand why I buy cars to let them sit and only drive occasionally, but its what I like to do. Since I tend to buy/drive more rare cars they don't depreciate as quickly, and I can flip it without losing much on it. |
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