Hey Everyone
I’m returning my 20 BMW X3 m40i in April. I’m starting the process now with the current dealership I have my lease through to get one on order and make sure I get the Brooklyn Grey version I really want to get. I’m weighing buying mine out and trading it in. They mentioned a trade in when I talked to them today actually. Do I actually need to buy it out or if the value is greater than the RV do is it count as a trade in? I’m really confused by them mentioning trade in right now. But attached is a photo of the “deal” they sent me. I’m not biting on this because its way over what i’m paying now.
First off, have you looked at broker deals in the Marketplace? I would run from this dealer.
I did look a little bit but didn’t get to deep into it. I wanted to give this dealership a shot. So I wanted to give them first dibs x
They can apply it as a trade in without you buying it out, but they arent obligated to.
Also, you do know MFs are probably at least 5-6% higher than they were back when you last leased…and RV probably lower.
And why confused by trade in now? Every lease has a day to day payoff amount prior to term end where it can be bought out by dealer (or yourself but with sales tax due) and equity taken as cash or applied to new deal. Shop places like Vroom, CarMax, etc to see current value.
Yeah I definitely realize that my monthly payment should go up a good amount. That $896 a month with $4200 down is insane to me. I’ll ask what they are putting down for MF and RV. I went on Edmunds and for a 36/12 its .00210 MF and 55% residual with no lease incentives.
The trade in thing, I get I forgot that I could have some equity in it. I’ve considered bringing to Carmax and a couple other spots. I still have 5 months but I know my chances of seeing an m40i in the Brooklyn grey color on a lot next April will be slim. So I’m trying to hammer this out and know what to expect 5 months from now.
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