Testing the waters here… So I previously posted my car on here a while back, but didn’t go through with it. In all honesty I just loved driving it so much I did not want to let it go and changed my mind. Fast forward to today, I am trying to buy a house now and would like to get out of this lease. As you can probably tell I am over my mileage so this would be for anyone looking to buy it out at the end. With a couple grand down at the residual price you will probably be looking at the same payment. (DM me for residual).
Year, Make, Model, and Trim: 2021 BMW M340i - Shadowline Trim
Location: Irvine, California
Monthly payment (pre-tax): $613.00
Effective monthly payment (if incentive is provided):
Current mileage: 34,664
Maturity mileage: 36,045
Effective miles per month: 138
Maturity date: 12/26/2023
MSD due (if any):
Cash due (if any): $500
Incentive for new lessee (if any):
Financial institution: BMW Financial Services
Transfer fee: $500 + tax (buyer pays)
Out-of-state transfer allowed (yes/no): No
Vehicle condition (accidents, tire wear, etc.), options, and other details
- No accidents
- Tires need to be replaced soon
- Great condition, wheels have no curb rash
- Stock no Mods except CF trunk lip
*Only blemishes are couple of tiny paint chips on front end from highway driving
- I have (3) of the stock Bridgestone Turanza Run Flats.
- BMW front weather mats
- AA Concepts Co M3 CS STYLE CARBON FIBER TRUNK LIP
Packages & Options:
- Blue M Stiching
- Mineral White Metallic
- Driving Assistance Package
- Premium Package
- 19" wheel 793i
- Harmon Kardon Surround Sound
- Heads up Display
- Shadowline Trim
It would be helpful to know the residual price.
I noted to DM if anyone wanted to know the residual
Why not just post the residual? If you want out of the car, I’d recommend minimizing the number of hoops people have to jump through. Particularly when the lease aspect of this car is dead and has no value to most.
Aren’t m340i leases underwater against their current value and residual?
This is an incredibly annoying thing that people do and I do not know why, unless you are basically trying to get anyone whose even remotely interested in your PM box, which is not going to help you.
Just post the residual. There is zero reason not to.
So the buyer for this lease will have to pay 7000ish and barely got drive the car.
All for the privilege to buy this at the end?
Presumably because the residual is far below market value. But OP doesn’t want to share that info unless you PM him.
In Dec 2020, the 36/15 residual on a 2021 M340 was 55%. So the residual should be around $33,808.
I’d call it taking on all the liability with seemingly no benefit.
Yikes. A CPO M340i today is ~$44-45k. I can only guess that number may drop a couple thousand at the time of OP’s lease ending. A CPO would possibly be $41-42K at OP’s lease end, which would be the time the assumer might purchase this vehicle. Payments made would be ~$6,130 to $6,700 depending on time of transfer, plus $500 transfer fee. If @WeakestLink is correct on residual of $33,808, the assumer would be in the car $40,508. That doesn’t include the tires OP mentions it may be needing @ ~ $1500. So it is my belief the assumer would be in the car $42k without the car being a CPO, and without factoring in shipping costs or costs associated with picking up the vehicle.
Without an incentive, I don’t see the compelling case for someone wanting to assume this lease unless it was a rare car with some rare option, which doesn’t appear to be the case.
I would suggest a $2k incentive plus OP covering the transfer fee would be in the realm of potentially an enticing deal.
225’s on the rear tires for an M340i? Odd - thought they’d be at least 255
Full payment of $613 for 100 miles a month? eww
The standard is 225 square but you can option for 225/255 staggered
Looks like a 36/12 lease. Probably needs to offer at least $4k incentive IMO to compete with CPO and factoring in the need for new tires.
Yeah you’re right. So the residual would be $1230 higher or $35038.
Yikes. “Testing the waters here” = “launching a Hail Mary here”