Lease Now or Purchase my Lease and wait?

Ask the Hackrs Buy/Finance
1

Hey guys, looking for some advice here as I’m so conflicted.

Currently leasing a 2018 BMW 330i. My lease expires this month and I really don’t know what to do.

My current payment is $412, and the closest I’ve gotten for a new 330i is $560.

My payoff on my vehicle is $29,500. From what I’ve gathered, given the age and mileage (39k) my car is probably worth about 25k.

Should I purchase out my vehicle and continue to scan the market until I find another good deal to jump on? Or should I bite the bullet and get into a more expensive lease and just take it as what it is, a sh*tty time to be car shopping.

My biggest worry for purchasing the vehicle is maintenance and if I become underwater on the financing when I do find another car to jump on.

I greatly appreciate all your help and advice. This website has really educated me over the years, and my last lease would not have been possible without you all here.

2

It sounds like purchasing it is going to put you $5k upside down out of the gate, and that’s with the current inflated used car values. If/when those start to stabilize, that’s going to get much worse.

I’d try to extend your lease for as long as possible.

3

Lease was already extended 2 months which is the maximum allowed without a new BMW on purchase.

4

No, you can extend it up too 6 months, with another bmw on order or commitment to buy. Im on the same boat! Ive got a 2018 320xi up on september. Do I buy or do I lease another, or build another which will take 4 months, by the time it gets here, hopefully the bubble will burst.

5

Correct. The $560 offer I’ve gotten is for a new build. Vehicle would take 60-90 days.

6

It’s not a binary choice between buying this car and leasing another 330i at inflated prices.

Lease or purchase something else after your last extension is done.

7

I’m well aware… I gave the price quote of a new 330i as a comparison to my current payment to illustrate the issue I have at hand.

But while you’re here, what have you seen leasing well in the $400’s range? Struggling to find anything worthwhile honestly.

8

Buying the car out makes no sense so it’s not even an option… go buy a different used car that’s more reliable and may hold its value better. Why start over $4k in the hole?

FL is always a tough market but I feel like there are ok deals to be had on a 3 series or go with a less desirable BMW car like an X1/X2 which are offered at 8-10% off today by brokers. May just require a road trip on your end.

Have you look at swapalease for anything reasonable to hold you over? $400 is a decent monthly budget to find something.

9

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