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SUVs BMW X3 & X5 BMW X3: Lease Questions
723 messages, Last post on Oct 26, 2009 at 8:06 AM
You are in the BMW X3 & X5 Forum. Your Hosts are steve_ & tidester
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Replying to: biggd (Oct 01, 2009 11:37 am) What the heck was on your car that you would have such a high residual after 3 years of payments? I have never leased anything - buy outright - so I am wondering why your used car would be worth $1200 - the price of a moderately sized mortgage. I would say to forget the blooming car, get a new one at a better price from a better manufacturer and put the remainder toward a mortgage on an asset that has a decent price of appreciating. Just my two cents.
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Replying to: pp2009pp (Oct 01, 2009 12:02 pm)
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Replying to: biggd (Oct 01, 2009 12:17 pm) The difference in 60 months between your 'used' car rate and the 'new' car rate is about $75/month. The same monthly payment buys you a $34,000 new car...if you financed the entire thing. Check the math though using a loan calculator. I'm just plugging in the numbers you have plus you have to add in the full warranty of the new car...not entirely sure what that is worth but it is worth something especially on cars with average reliability. http://www.bankrate.com/calculators/auto/auto-loan-calculator.aspx I would take a look at other cars and deals out there. My two cents. |
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Replying to: biggd (Oct 01, 2009 11:37 am) 2) Contact BMWFS... Tell them you might be interested in purchasing your car, but nowhere near that inflated residual... ask them to give you a realistic price, and you might consider it... Sometimes, they'll drop the residual... sometimes not.. 3) If 2) doesn't work.... contact your dealer, and tell them the same thing.. You might be interested in purchasing your car, but not at that price... Can you save me a substantial amount? BMWFS will sell the car to the dealer for the MMR (auction) price. They'll mark it up to make a profit (the key is:how much), but you should be able to get it cheaper.. 4) If all else fails, do not buy the car for the residual... You got a great lease deal because of that unrealistic residual.. If you buy the car for that amount, you give your great deal back to BMWFS... Good luck! kyfdx Host-Prices Paid Forums |
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What about a used  instead? I would, of course, say RUN far, far away but what about a used one instead? This idiotic car is at the end of its run anyway and they will start manufacturing them in NC instead of in an Austrian OEM plant. Drive a cheapo used one for a few years and see what comes up next. I don't know if this is a good bet but will they actually bother to fix the ride and the transmission problems? Maybe they will revert back to the 5 speed transmission or, heck, maybe not. At any rate, why take the risk? |
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I'm coming in at the end of December on my 3yr 2007 X3 lease. Sport pkg, premium pkg, cold weather pkg; no navigation. My cap cost reduction pmt was $2974, monthly pmts made total $22248, contract residual value is $30799. I've been happy with the vehicle and would like to purchase it. I've seen some blogs where people have claimed to get as much as $9000 off the residual from BMWFS. Anyone else have experience with BMW reducing the residual amount to entice a lease-end purchase? |
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