2021 BMW X5 xDrive 40i looking to upgrade to probably 2022 X7 loaner. We need a bigger car.
I have a year left on my lease.
My effective payment is $840
MSRP was around $68,000k
I have ~19k miles left.
So I’m trying to weigh all available options.
Any thoughts greatly appreciated.
I just traded a 2021 X5 xDrive 40 w/24k miles on it. Got $6k+ over payoff. Like an idiot I leased a 2023 BMW M550xi (for only slightly more than my X5) - BUT BMW dealers in South have been aggressive esp. on 2022/2023s. X7 loaner/demos hard to come by & not a lot of deal wiggle room.
Well it is an awesome car. I probably should have gone the practical route w/a new X5. Instead I decided that a growling exhaust & the ability to get to 60 mph in just over 3 seconds mattered more. I am having a small love affair with the thing.
Definitely not an idiot. There is an arbitrage situation recently. Used car prices are still stupid high but decent deals on new cars are available. Not sure who the hell is buying all these used cars when a new one is only a few bucks more.
Agree. The deal on the new 2023 M550 was cheaper than buying a 2022 CPO. Dealer that delivered my M550 told me my X5 was sold before it even got to the dealer lot. Fairly high demand vehicle (esp low miles) apparently.
One thing you may not be aware of since your last lease is that BMW changed the loaner program. The mileage on them now reduces the rv which obviously increases the payment. It’s not to say you couldn’t find a deal that works it is just a good bit harder to justify. It isn’t like the old days where a loaner almost automatically made it a better deal.
Plug the numbers / mileage in the calculator and the rv deduction will show up.