Leasehackr puzzle / help - 2 cars up on lease, what would you do?

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Greetings hackers!

I have been puzzling over this for a while and realized someone here might have more insight/angles to think about.

scenario:

I have 2 leases—1 up in 2 weeks, 1 up 4 months.
2019 BMW x1 (~$24xxx buy out) & 2019 BMW i3S/withRange ($33xxx buy out)

I enjoy new cars, with excellent warranties, oil changes etc included. I have leased for the last 10 years for this reason.

I am contemplating trading in and getting a new lease or getting a loan for both and waiting out the shortage. (until better deals start coming out)

I have been on the forum here and found a few good deals (or the appearance of) with brokers SoCal for BMWs,. the X3 $599 2500 DAS, doesn’t seem too bad. But I haven’t found a solid electric car to replace the i3, plus I scored on the i3 before covid and my current payment is only $220, so jumping up to a Tesla or other electric will be much higher.

X1 has some dings, tires are good, and it looks like they are selling used for $35k, so I may have some equity to work with

i3s - needs tires, has some dings I may need to fix, buy out is $33k, I can’t seem to find any model S, with Range extender for sale for price range but I may have some equity or null if I need to pay to fix a bunch of stuff.

So my question is, would you get a loan to pay for them and wait for more car options? Trade them in now since the X1 probably has some equity to put towards another lease? Sell them to Carvana or similar and ride the bus? Am I missing anything?

Thanks for looking and all help is greatly appreciated

##edit
I have already extended the i3 for 2 months, can purchase another BMW and extend if a VIN gets created, was thinking about the i4,

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Have you checked what you can get for the X1 if you buy out and trade in? If you think there is positive equity in that car and you do end up getting some, it could help bring your lease down to a favorable amount (if you are getting a new lease) or you can drive that some more and trade in that car in a few months when you find something you like. You likely won’t lose a whole lot of value on that vehicle in the next few months even with additional mileage.

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You are probably in the money on the X1 …

The i3s is going to be hard one to milk any equity out of it … If your payment is cheap … consider extend the lease.

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Forgot to add, I did extend the lease already, if I get another BMW and there is a production number I think I can extend for a few more months. TBD, I was looking at the BMW i4, but I think the production is pretty far out.

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Then use that equity and sell it.

Very low chance that this is positive. But if you trade it you wont be responsible for disposition or damage.

Order one, and extend the i3 then to drive. That makes some sense if it’s not registration time in CA yet IK how expensive that can be.

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All good points, I would have a few more months on the registration if I did get a VIN on file. Looking at the i4 now, but also looking at the Polestar, Tesla would be great, but so expensive, and not enough buttons. I like buttons

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I love when we’re honest with ourselves.

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So are these good deals or just the appearance? What are the MSRPs and what options/features do they have?

It’s nice to have buttons. But it’s nicer to have features.

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hahah, I love the Tesla, but it’s just a bit sterile!

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@max_g Agreed, just on the surface at least looked reasonable, I will have to do some more leg work to see for sure. All over the place with what to do

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Order or reserve an incoming Kia/Hyundai EV? Look! Buttons! haha

image
image1280×720 71.8 KB

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Ioniq 5 is on a stop sale since last Friday…

But a buddy of mine did get one from SoCal at MSRP. Just had to wait 3 months and didn’t have much of a choice as to color, packages, etc

And yes, it’s does look pretty cool and full of functionality for the price

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Yikes… Not up to date on that stuff what’s up with that?

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@Kctham18 That sounds like a good deal, my brother went to look and it was 10k over, walked off the lot and didn’t even test drive.

@HersheySweet That’s what I’m talking about! I like the side-by-side screen too. Call me old fashioned but I like a good volume knob, the tactile volume crank just does it for me.

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Vehicle rollaway possible. One Temp fix is to put the parking brake on every time you’re shutting off

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Hmm sounds like an OTA fix.
I got one of those on my Kona (and didn’t even notice until I looked up my recall history)

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That’s what I thought too, but when I asked my buddy, he said he had to arrange an appointment at the dealership next month to get it fixed :man_shrugging:

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