Last post on Dec 07, 2013 at 10:24 PM
You are in the Prices Paid - Buying & Leasing Experiences
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BMW 5 Series, Car Leasing, Sedan, Wagon
#2099 of 4282 Re: 2006 530i Lease question [craigm1841]
Dec 28, 2008 (10:05 am)
Thanks for the info on your lease. I feel like my lease offer is not the best but might be a better purchase if I could get it CPO'd.
My total monthly payment with taxes would be 569 and my initial out of pocket would be 1431.
Now for a total newbie question: the residual value I am quoted - will that be the price I have to pay at the end of the lease if I want to purchase? Is there a chance they would push that higher? They did mention that depending on BMW's assessment, the number could be lower but no higher.
Thanks again for helping out
#2100 of 4282 528i Lease Question
Dec 30, 2008 (8:17 am)
What are the money factors and residuals for December? 10k 36 month. 3rd post and I can't seem to get an answer on this. Please help. Thanks in advance.
#2101 of 4282 good deal?/newbie
Dec 30, 2008 (1:11 pm)
I am leasing for the first time and got an offer on a 528i base with ipod added for $562 a month for 36 mos., 12k mi a year. $965 drive off. Can get xenon for a bit more (thought they were standard). Is this a good deal (supposedly expires tomorrow night)? and what other questions should I be asking before I jump in?
#2102 of 4282 Re: 2006 530i Lease question [croni003]
Dec 30, 2008 (3:58 pm)
At the end of the lease you just walk away with no obligation to buy. If you want to buy then market conditions dictate the selling price which for you has a ceiling outlined in your lease. You could offer less or they may offer less. Put a sign on your window to let others know you are turning in your car. A bunch may follow you to the dealer to line up for your bmw. Then the dealer can sell it to them at a higher price if you decline the honor. What a nice gesture on your part that would be.
#2103 of 4282 Re: 2006 530i Lease question [jayrider]
Jan 02, 2009 (8:33 am)
Well, I ran the numbers every which way but loose and decided to lease this used 2007 530i for two years.
2007 530i w/ sport, premium, cold, tint, chrome wheels at 20k miles
Selling price 26,500
24 month term
drive off $1000
monthly $569 (with taxes)
In the end, it would have been close to a wash for a purchase and like the last poster mentioned, I can see at the end of 2 years how I like the car and what will they sell it to me for....
#2104 of 4282 Re: buying a lease vehicle [kyfdx]
Jan 03, 2009 (6:17 am)
Thanks for all the sound advice I've received on this forum. It really works.
So, I have found a dealer who will sell me my leased 2006 BMW 530xi wagon with 20K miles as a certified pre-owned for 29K.
What do you think? What questions should I ask? I plan to finance it through BMW financial as I did the lease.
Thanks for your help. The car comes off lease beginning of March.
I live in northern NJ.
#2105 of 4282 Re: buying a lease vehicle [yatze]
Jan 03, 2009 (7:45 am)
Sounds like a good starting point. There are lots of 06's coming off lease so there should be room for a better price. If your driving patterns remain the same, in three years you will only have 40k on the car. Low miles for a 6 year bmw and certainly an attractive used car. Do some research on asking prices nationally and see if the deal is decent. Ask what the price is without the CPO. If you have had good luck with the car so far, and maintained it well there is no reason to believe a major problem will occur in the next 20k miles. Put the difference in the bank and live on the edge a bit. BMW is betting you won't use the warranty and they should know.
#2106 of 4282 Re: buying a lease vehicle [jayrider]
Jan 03, 2009 (9:12 am)
Thanks for your prompt response.
Dealer said 26K without CPO, but finance rate goes up to 1.9 instead of 0.9. I have to finance it unfortunately.
I have taken good care of this car.
I will probably start to put on more miles because if I buy this I will sell the "backup" car I have and stick with just the one car.
I don't mind living on the edge, but I know that this car is EXPENSIVE to maintain and fix.
#2107 of 4282 Re: buying a lease vehicle [yatze]
Jan 03, 2009 (9:49 am)
The deal seems decent but the auto world will be different at the end of feb. Auction prices will change values as the economy tanks. Make no mistake -- things will get worse before they get better. What was the buyout number on your lease at it's inception? I guess I figured that someone with a moniker yatze would be prone to roll the dice. I would be willing to bet that your repairs for the next three years will never come close to 3k. And that would be just to break even. You should really look at 6k in repairs as the benchmark. But peace of mind is worth something too -- I get mine from chemistry. Get back to me at the end of Feb. and I'll see if I can get the current auction prices for you.
Jan 03, 2009 (10:14 am)
You didn't mention the first 2 payments are made by bmw -- on website. Also you need to check what's not covered by cpo. A big one is brakes- so make sure you know what's left when you buy.