Where does this number come from? It’s range and not a specific dollar amount so it leads me to believe you made it up in hopes of adding confirmation bias to your decision that getting a new one under warranty with 9% interest will be a better deal. I am sure someone, somewhere had a $6,000 repair bill on a BMW at 45,000 miles, I doubt it is statistically that common. It’s your money if you choose to offload the risk to the bank however you do realize you are far and away paying a massive sum to do so.
Recently researching a vehicle I asked a friend who had the model I was looking at if he had any issues at 100,000 miles and he said he had a pretty steep repair bill recently. Two minutes later I get a text saying, “Well I dont do any preventative maintenance either” so maybe that was why.
I had a BMW that I eventually sold with approximately 128,000 miles on it. I had one unexpected $600 repair and of course I did preventative maintenance along with rotors / pads, etc…all in might have been $1500 including oil changes at independent mechanics.
Look at where we are now vs a year ago. There’s a big difference in the car market. Then also consider that rates are almost at a 20 year high and we’ve had 3 of the 4 largest bank failures ever in the past 2 months.
I think it’s safe to say things will look very different in 6 months to a year
Man when you put it like that I couldn’t agree more. I’m kinda clueless about a year ago used car market wise. How did the used car market look? Nothing available because new car sales died? Or everybody selling because nobody was leaving their house?
Hello, I’m curious about current deals / signed deals on BMW X5 xDrive40i. looking for the residual value and money factor too. I’m also interested in the 50e model, but the deals are typically not as good. How do the deals compare between a 2023 and a 2024 model year? Additionally, we plan to lease the vehicle with high mileage, either 15 or 18k miles.
My wife currently has a 2021 X5 40i on lease, but she has exceeded the allowed mileage due to her new job involving a lot more driving. There are still 8 months left on the lease, and we would like to trade it in now to avoid paying excess mileage fees at the end of the lease term. We are located in Michigan but are open to travel up to 4-8 hours from the Detroit area for an outstanding deal.
I’ve never seen a lease over 15k, I believe that’s the limit on a BMW, someone can correct me if I’m wrong.
Not sure what type of lease deal you got on this, but if it was 28 months ago, I’d assume it’s infinitely better than what you’d get today. You can prepay excess mileage which is cheaper than the penalty when turning it in. If it doesn’t need tires/brakes/etc, from a financial standpoint, that would def be a better move.
It’s really just the distance. I generally only work with trades over longer distances when it’s a car that holds value, such as an M3, M4, certain Porsches, etc. You’d have to get it to the dealership before the new car can leave the dealership, so like I said, it makes it more complicated.
@212hackr - correct on the 15,000 and you just can pre-pay for mileage at a discounted rate prior to the lease end.
