In August 2016 I leased this lovely BMW X5 50i in Black Sapphire Metallic. We just had our second child and we thought we were going to need two cars, so we went ahead and picked up another. It turns out… we don’t really need two cars. I may have just wanted another one. I’ve fallen in love with the new vehicle, so I’m throwing this out as a feeler to see if anyone would like to strike a deal on a lease swap.
Optional Extras:
Cold Weather Package
Drive Assistance Plus
** Surround View
Dynamic Handling Package
Executive Package
Mocha Interior Design Package
M Sport
** Adaptive M Susp + rear air susp
Comfort Rear Seats
Bang & Olufsen Sound System
Smartphone Integration
Here’s the breakdown of the original deal:
36/12k
$997.70 a month inc 7.25% tax
$7,000 in MSD
Lease Commenced 8/17/16
Original Leasehackr score: 8.2
Deal I’m Proposing:
Buyer pays $4,500 of MSDs.
Buyer pays transfer fees to BMWFS (~$500?)
Current millage is approx 17,732, total allowed 37731(odometer disclosure has 1731 miles on it). This is roughly 20K miles remaining. That’s ~1100 miles / month.
This offer effectively gives you ~$140 towards the monthly payment, making the vehicle $858 / mo (at 7.25%) for the duration of the lease (18 months).
ind-distribution.com F85 X5M FRONT GRILLE SET (stock included for lease turn in. value $470 new)
ind-distribution.com F15 X5 Painted Front Reflector Set in Black Sapphire Metallic (never installed, sitting in storage space in back, included, value $110 new)
ind-distribution.com IND Painted License Plate Frame in Black Sapphire Metallic (front and back, has some wear and tear, value $150 new)
OPTIONAL NOT INCLUDED
21" Wheels+Tire set with 2 spares (yes, 2 full extras). The pictures below show this set installed, they will be removed and stock 19s put back on. Willing to negotiate for these, 2 of them are curbed a bit, but that’s why I have the 2 spares.
Let me know if you have any questions or are interested. Based in Chicago.
I really, really love the aggressive look of the wheels and grill. I know it’s not an X5 M, I know, but I really love the look after the small cosmetic changes.
Is there some wiggle room here? You could buy this car for $60k private sale or up to 65k CPO on the used market being a couple years old. I think sweetening the pot to $650/mo is fair. You are asking someone to pay a high premium when you’ve had the car during it’s largest depreciation hit. Do you have the exact buyout number at the end of the lease. I’m interested, but not paying full freight for a used car AND I have drive-offs I have to pay you…You should eat the MSD’s in exchange for the additional depreciation on the front end. That puts the cost at about $638/mo (fair based on the value of the car) and the buyer pays the transfer fee. Maybe there’s an extra $500 in there for you somewhere to get a little closer to $700, but that’s about tops for me.
Where are you located? If you are willing to deal I’m interested. I have a 14 X5 with the 20’ I can swap onto it so don’t need the wheels.
I don’t know OP and how badly he wants to get rid of the car but I would rather keep the car than give up 7k worth of MSD.
BTW that’s a nice car.
Finding a used car with DHP is like finding a unicorn.
I wish I would have gotten a black x5 instead of white, but couldn’t stand trying to keep it clean all the time
Thanks @rybocf, as I said in the OP, this is a feeler post. I’m not hurting to get rid of it, that would be losing too much money. A 60-65K vehicle on a 60 month with 0% APR is going to run you $1083. I’m not sure I understand the logic. That would be a minimum of ~$19.5K in payments in the same period you’d be paying $15,444 … and walk away from it.
I’m a leasing man myself, so it’s hard for me to relate on that.
Help me understand where the wiggle room is, I’m certainly open to it. Certainly not trying to rip anyone off.
@Justlooking, as you suggest, I’m not wanting to get rid of it badly. Thanks for the comments, I like to keep a nice, clean aggressive car. My Tesla Model X P100D is white, and I’m real happy with it.
My .02. The price is very fair, almost too fair, keeping in mind the sticker is 93k. These things go for 1000 + p/m, just talking about the 5.0. 650 isn’t fair, its outrageously low. Don’t suggest a price publicly to fit your own personal agenda, negotiate privately.
Thanks @Kos. I’m not trying to play any games. My logic is this:
When you lease you spread the depreciation costs out evenly over the 36 months (the monthly price stays the same), but the vehicles depreciates MUCH faster initially. In your case, you paid about $18k on a vehicle that has depreciated at least $25k in that same period. You’re asking your “buyer” to pay a full lease price on a used car. As the potential buyer, I’m asking you to absorb that $7k difference, as it depreciated during your ownership of a brand new $90k+ vehicle, not mine.
I won’t even get into your numbers about buying it, etc. It’s apples to oranges. I’m not buying it, I’m leasing a car with a current value of $60-65k and a residual of somewhere around 51,500 (not sure exactly, but that’s pretty close). So, I need to pay the difference + interest over the remaining 18 months. I’m not making it any more complicated than that. Without the $7k kicker I’m paying for your past depreciation.
As for the comments from @Justlooking about the DHP, yes, rare to find an X5 with one, but I’d be paying for it based on the fact that it’s almost a $4k option, so it’s not like I’m getting it for free, and I’m DEFINITELY not going to pay extra for it when I can order my next X5 with it too. Since the OP’s deal is basically paying full freight ($1k/mo) why wouldn’t I just go option out a brand new one myself and not get a used car. i can get a sweet X5 for $1k/mo lease…
Let me know if you want to try to work something out…aside form the exterior color, that’s pretty close to how I’d option my X5, so that’s why I’m interested. Where in the country are you?
Yeah, but you aren’t going to find an X5 50i at this price for a lease transfer. If you want to BUY an X5 that is a different story, this wouldn’t be for you.
This is a nauseating argument. You cannot compare a lease to a purchase, because who wants to keep paying $1,000 for a 7-year old BMW 8-cylinder at the time of the last payment? You will be in a world of hurt. So please stick to leasing and, to that end, leasing a X5 5.0 with these packages for less than $1,000 is a phenomenal deal.
If you do not think so, just move on to the next car, please.
Hi @nyclife - If it’s bad etiquette to respond with numbers I apologize, I’ve been a lurker but not a big poster. I still stand by not taking over someone’s vehicle after they got the benefit of the big depreciation hit. Look at my recent post and my numbers and tell me where my numbers are off if you are leasing?
I post what I think is fair and reasonable for ALL to benefit, respond, correct, etc. It is not just for my personal gain. If it was bad form let me know, but I’ve learned at lot from people here and hope to offer my opinions on getting into the equivalent of leases on used vehicles (swap). Sorry if you don’t like my opinion, but correct me on the facts please. For the record, on my next new lease I’ll probably hire one of the brokers from this forum
You are comparing a lease vs a purchase, which isn’t how to look at it.
Look at it by the savings if you were to lease new vs take over this lease. Let’s take an extreme case of the 330e for 110 a month. If you were to take that over, by your logic, you’d expect to pay (after 1 year) 85 dollars per month because of the depreciated value of the car. But no one who is sane would offer an incentive on that car, its what you can get it now new versus what the OP is offering it for. The savings by taking over his lease on the X5, like you said, 150 p/m as new you could get one for 1k a month.
Now we are getting somewhere, yes I see your point @nyclife. I just want people to see that when you take over a lease transfer, you need to get a decent kicker because you are leasing a used car, but the seller is asking you to pay almost the same as a new car. Call me crazy if you want, but I’m just doing the math on it while looking at a car’s depreciation curve. If cars depreciated at the same rate over it’s ownership span then this would be a non-issue.
Without a good discount I’ll just lease a new one…why not?
The thing is, $150 per month is a great discount. Payments shouldn’t decrease at the same rate as the car as its an average depreciation over a period of time.
Thanks for the comments, I like to keep a nice, clean aggressive car. My Tesla Model X P100D is white, and I’m real happy with it.