My 2018 340 lease is ending in several months. If it is in excellent condition and has about 6-7k under projected miles (I’m currently approaching 29k of 36k), do I have any more financially positive option than just swapping it in for my next lease and the dealer eating the disposition fee? Is there a convenient way to know if I have any equity (maybe the wrong word) or it is worth more than whatever was agreed to as terms of the lease?
It’s not likely at all that there’s positive equity in this. You should get bids from Carmax/Carvana and the like and go from there.
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Currently, there are many cars in excellent condition out there that also have very few miles on the clock. 6-7k miles is just average - it’s a 10k miles/year car. Even if it was 1/2 that number, you won’t see a significant change in value or equity. Low mileage cars just don’t have the returns a lot of people expect.
Another thing - BMW residuals are inflated, which means if you looked at selling it now, you’ll probably find yourself several thousand dollars underwater. Not worth it…
Look at Carvana, ALGo, vroom, shift and all that, and you’ll have a better idea of what it’s worth now. Glwt
Doubt you have any equity in this. Just drive it and enjoy for the last few months and dump it back to BMW.
Hopefully you signed a good deal when these 2018 F Series cars were being blown out.
That makes sense especially in light of the past year about many lower mileage cars. Thanks for the info to all of you!
When I turned in my 540i with roughly 5k miles under the lease, I ended up with a surprise $250 credit on my new M340i lease payment this month for ‘unused loyalty milage’ or something like that. Confused the crap out of me when I just saw the payment amount $250 lower than I expected, so had to look at the statement to figure out what happened.
This was awhile ago but still relevant:
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