2022 BMW X7 M50i. Is it a good deal?

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1

Hi, considering taking over someone’s lease.

2022 BMW 7X M50i
7500/ 36
current payment $2146
gross cap $127980
MSRP $110945
current owner to pay me $21K to take over the lease.
30 months left on the lease…

is this a good deal with the money back? what else to look for?

thank you

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2

Why on earth would you do that? You’re talking $2850/mo for an x7… This is insanity

1 Like
3

That’s more than the average American’s mortgage payment.

4

Looks like he’s getting $700 a month from current owner. So monthly of $1446.

5

How do you figure that $2850 payment? He states the payment is $2146 and he’s getting $21k from the current owner up front…

6

oh, I missed that. I thought it was paying $21k to take over the lease

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7

where did you take 2850 from? Also, he would be giving me $21K cash which is 700 per month if you divide for 30 months I would be paying…

8

Awww yes. Easy mistake. Carry on🙏

9

so good deal or bad deal?

10

Not even sure how good/bad this deal is, I’d walk away due to the risk of getting screwed out of the $20k. He likely won’t pay that early in process, and I personally wouldn’t go through an assumption process and sign the docs without guarantee of getting the money. What do you do if you complete process and then he says “oops sorry I can’t give you $20k” - you’re on your own there. Your risk tolerance may vary.

11

Well, $1450 is definitely less bad, but without knowing the lease mileage, it’s hard to say. Have you priced a new one through the brokers here?

12

It’s still a bad deal.

13

Good deal if you compare to broker listings in marketplace. The rest is left as an exercise to the reader.

14

could he call bmw financial and apply that money towards the payments? that way both parties are “protected” right?

15

1200 miles as of right now…

16

He could. What it would do is essentially pre-pay the final 10 months of payments, so you’d have a $2150 payment for 20 months and $0 payment after that

17

May want to look at an escrow service where you two come up with a performance contract and escrow releases money when terms are fulfilled.

If I recall it may be $100 - $200…it would be worth it in this case if I were in your position.

3 Likes
18

OP - this seems to be a reasonable option, if possible

19

Without knowing the mileage, it’s hard to say.

But if the mileage checks out, I’d like to know where else you’re getting an M50i for $1450

@brenoamelo def look into escrow or some other way to protect yourself.

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20

It’s a pretty decent deal in todays market. At the MSRP, must be decently loaded also (I dare not say fully loaded, and risk being flamed :rofl:)

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