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Prices Paid: Buying & Leasing Experiences BMW 5-Series Prices Paid and Buying Experience
3500 messages, Last post on Dec 06, 2009 at 11:14 PM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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Replying to: vsaxena (Jul 20, 2004 10:29 pm) |
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Replying to: bmwman2 (May 28, 2004 2:01 pm) |
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The lease on my MY2002 530i expires in a few months. I am struggling with 3 different options at lease end: 1. return the car 2. re-lease the car for another 3 years 3. buy the car BMW cannot give me solid numbers at this time on the re-leasing price. Has anyone here re-leased their car? If so, did your payments go down? What was the depreciation factor? What other costs were involved? Do you regret doing it? When the car is released, is it considered a CPO car with extended warranty? Thanks.
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Does anyone know if the 2004 5-Series will offer any incentives this summer? The 330i's are currently offering $2,400.00 manufacturer to dealer, as well as 1.9% financing. If I see this offered on the 530i's, it's on!!! |
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Replying to: pen101 (Jul 21, 2004 2:32 pm) The dealer should be able to give you figures on the lease without much bother at all. In fact, it's quite easy. E-mail me if you have any questions or want any other advice.... |
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Replying to: pen101 (Jul 21, 2004 2:32 pm) #3) The reason why BMW can't give you an exact figure is, the lease isn't complete, but your purchase figure will be "in and around" the residual - contact the lease company ONLY, they own it and NEVER involve the dealer, they have nothing to do with the contract .. wait until the last 3/4 weeks of the lease and contact the regional/district lease manager (not the nice folks that answer the phone, they look at a fixed screen all day and have no horsepower for a decision) at that time they will looking at the auction reports and make a decision to blow and go - or not. Does the Bimmer dealer pay less than you.? .. it depends, they usually wait til' they hit the auction and purchase them from there .. when you get closer to the lease-end, flip over to "Real-World Trade-In Values" over at the Smart Shopper and I will be able to tell you what the value is, with a complete description from you of course ...........  Terry.
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Replying to: rroyce10 (Jul 23, 2004 11:38 am) On the positive side, your car should still be in warranty for another year, even if you just buy it straight out. regards, kyfdx |
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Thanks for the responses. rroyce10, your post is missing rule #1. What is rule #1? Also, you are saying NOT to contact the dealer, while livinbmw is saying I should contact the dealer. Can I get additional guidance here? If the re-lease monthly payments are near what I can obtain on a new car lease (of a comparable car), of course I will get the new car. However, if the re-lease payments are significantly lower, then I would be tempted to re-lease the car. Any idea what the residual would be on another 3-year lease? Since usually a car loses a lot of value during the first year or so, would the residual for years 4-6 be better than the first 3 years? The current lease has a residual of .62 for a 36K mile/36 month lease. Also, is the residual on the re-lease set or is it negotiable? Again, thanks for your help. |
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Replying to: pen101 (Jul 23, 2004 3:36 pm) The reason you want to contact BMWFS first, is that they won't want to step on a dealer's toes, if they are also working with you on the car. Chances are, the dealer is going to want to make some profit on any kind of deal, which you may be able to cut out going straight to the bank. Most banks use a set dollar amount for used cars, with a variance to take into account any mileage differences. Usually, as long as the car has a certain amount of equipment (auto, leather, etc), the residual is the same for all cars of that model with the same mileage regardless of extra options. Also, resale values for six year old cars can vary greatly, so the banks tend to be much more conservative on residual values (meaning: lower), which tends to push up the lease cost. Plus, there is usually not any manufacturer incentives on a used lease (CPO might be an exception), which also negatively affects them in comparison to new. Usually residuals are never negotiable. They may be different from different banks, but they are what they are. Hope this helps a little, kyfdx
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Replying to: pen101 (Jul 23, 2004 3:36 pm) The dealer is the only one who can certify the car and it must be retailed through the center for CPO. The CPO is a great way to go if you want to keep the car and it's good for the dealer, too so they should be very helpful. They should be able to get #'s for you easily, as I've stated. You need the figures to decide but generally the used car lease may not be as attractive as a new car program. |
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