Hey hackrs - hoping to get some advice. My wife’s 2019 BMW X3 lease is expiring Saturday. We’ve been really busy lately after having our 2nd kid and admittedly I haven’t really put in the work to figure out what to do.
Based on what I’ve read recently, it sounds like the move is to buy out the lease - is that a no brainer? We would love to lease anothwe x3 but I’ve surmised from reading a few posts here that it’s not the right time to lease.
We are outside Philadelphia, PA and the car has 27K miles on it.
I’m contemplating a discretionary purchase on a car I drove earlier this week, and I’ve decided that I don’t have sufficient time to put in the required due diligence to wrap this up before I catch a 6 a.m. flight on Saturday.
[But I overthink everything.]
If you’re equipped to look at what’s available in the next 48 hours, decide, and then pay whatever it costs, then that’s a different story.
Do you need an immediate replacement, or could you be down one vehicle for several weeks / a handful of months?
I would ultimately need the lease cost to be about the same as what we are paying for the X3 now which I don’t think is possible given the market - right?
As for your 2nd question, we definitely need a 2nd car, but I could probably figure something out for a few weeks if I had to.
unless you’re putting a boatload of money down, or you got absolutely fleeced on the outgoing car, you won’t get anywhere close to anything you’ve paid in the past today.
Buying something is rarely a no-brainer. Especially not a BMW with an inflated RV … these were historically never worth their RV. What the resale on these looks like in 2-3 years is anyone’s guess.
Your best bet is to extend your lease and order something you can finance, something with a history of holding value well and good MPG.
My 330i lease is up in 2 months. I’ve ordered a new build GMC Terrain and, though the final lease numbers won’t be worked out til closer to delivery time, will probably be paying just as much (or more) for this vehicle ($36K) than I did on my current car ($50K). Sad.
Get used to it. There’s a pretty good chance you won’t see lease numbers of a Toyota Camry in a 330i any time soon, if ever again. Especially true if BMW follows through with their strategy of keeping lots lean and not bloated moving forward.
The sales guy is a friend and gave me a general idea. If the numbers don’t work out after I run the Leasehacker calc, I’m not committed and can extend my current lease for 2 mos. if need be.
I actually don’t want another BMW (not really pleased with this 330i). I would have probably gone back to an Acura RDX (had two before the BMW) but I know for what I want (A-Spec), the numbers are gonna be too high. I do like the Terrain, especially with the Elevation Package (black grill and wheels) so even though it’s not in the luxury category, I think I’d be happy looking at it for 3 years.
Well first your sales guy friend has no control over what RV and MF the bank will set in two months.
Granted you can walk away but you’ll never get that time back. In that time (2-4 months incl your BMW extension) you could have ordered something with more certainty around its purchase or lease pricing.
Yes, very true, he made that clear and of course I already knew that from LH. Which is why they aren’t doing the lease paperwork now. Assuming I’d have to do a new build wherever I go, don’t you think that would be the case at most other dealers? I definitely don’t want to take a vehicle before my lease is up.
