So I’ve got 1 month left- got a letter from BMW FS that they are giving me a $1k discount if I buy the car- I decided to see what the selling value was.
The original Residual value was 64%(36/12k) of MSRP of $62k- so about $40k to buy it at the end of the lease.
I’m over mileage by 15k- so thats $2.5k I owe to BMWFS. Misjudged the mileage- should’ve gotten the 15k/yr- losing about $500 due to that miscalc. Paying it at $0.16/mile.
Vroom gave me a bid of 20,000. I nearly did a spit-take. Looked online to see BMW dealers are selling similar cars for about $25k, non-certified.
Didn’t realize that used BMW sedans fell that much. BMWFS is taking an approx. $15k hit on this car. I’m paying the $2.5k and walking away- er… running away from this car.
I paid $576/month with 800 DAS for the vehicle at inception. Now, including the $2500 mileage penalty I’ll have paid about $645/month for a $62k car. Almost 1%