I have 5 payments left on my 2022 Kona N Line AWD lease and I’m starting the process of shopping for another lease. This time, I’m thinking BMW X1 M35i. I have a specific X1 build I’d prefer to have, and I’ve found it at a few dealerships.
Unlike 2021 when I got my Kona, my buyout is higher than what Carvana and other companies will give me for my car so I’m in the negative a couple thousand dollars. KBB values my car right around the buyout value, so I’d break even if the dealership honored KBB. The expected BMW payment is twice what my current payment is. I could pocket the difference for the next few months and save it before taking a hit with a nicer car and bigger payment, but my question is this: will I run into inventory issues this summer, or is that a dice roll gamble, anyone’s guess? I’m concerned I won’t find the car I’ll want if I wait a few months. The M35i’s in my area are sitting for longer than 100+ days. Maybe I’m concerned for nothing.
With negative equity like yours it makes great financial sense to just ride the lease out and start looking closer to termination. Who knows what will be around or what the X1 programs will look like but I think things overall are slowing with the Fed keeping interest rates the same for foreseeable future.
This alone mean that, barring any legit fire sales from dealers/brokers or unbelievable incentives to get rid of units before their birthday on the lot, or the fed cutting off interest in half by the next few months… the car will still be there, waiting for you in September.
Even at break even you’re saving the disposition fee when you sell to kbb dealer, so plan on timing it for that if there’s still an opportunity this summer.
And if any wear tear or damage issues HMF might charge you, there’s that too
