I am putting up my 2017 BMW X5 for lease transfer. Glacier Silver Metallic exterior and black interior. Current mileage is 20,263. You can drive upto 40.916 miles. So remaining miles are 20,653. Lease ends Jan 2021(23 payments left). Essentially 900 miles/month. MSRP of vehicle was $68,670.
The monthly payment is $497.19/month plus your state tax. Buyer will be responsible for transfer fee and also pay $1000 to me (I put $7000 down to get the payment so low). The lease is through BMW Financial. There is a very tiny chip on the front windshield (see picture). It is not spreading. The car is located in Cary, NC.
Here are the options (also see picture for detailed explanation on the options)
I assume this was a loaner initially based on the strange mileage cap?
The $1,000 down payment may be a little high since it’s adds another $45/month on the payment plus $15/month for the transfer fee plus sales tax. Also, the new lessee more likely to be responsible for new tires and potentially brakes. I get you put $7K down but your original deal doesn’t look to be great for a loaner.
It was not a loaner. The sales manager was driving it. It was never titled. Please ask for facts before posting. Also the car is completely covered with warranty including all oil changes. Thanks for posting.
Sales manager just happen to drive it 4,900 miles? How convenient. You leased a loaner bud.
Also, regarding the warranty/maintenance, it’s non-transferable and would never including brakes/rotors.
"“For model year 2015 or later vehicles sold or leased by an authorized BMW center on or after July 1, 2014, BMW Maintenance Program coverage is provided for the exclusive benefit of the initial purchaser, owner, or lessee of a new vehicle, sales demonstrator vehicle, Aftersales Mobility Program (AMP) vehicle, or BMW Group company vehicle from an authorized BMW center in the United States (including Puerto Rico).”
Ya. I feel like this sales manager drove line is a classic line to avoid saying it was a loaner. When I bought a CPO Audi A6, it had 4000 miles on it. They tried to tell me it was a short term lease by some doctor/resident. It said VW leased it. aka…service loaner.
The car is in excellent condition and the warranty will apply throughout the term of the lease. The maintenance program may not transfer but we are talking about an annual oil change. The maintenance program never covered brakes/rotors/tires. Any potential buyer is free to get the brakes/rotors/tires checked and make a decision. Cheers!
Yes… exactly…I’m paying the same amount for a brand new one…
I just think his ask of $1,000 down payment is high, at least for this audience. The fact it’s a loaner and lease transfer adds potential costs. I’m sure it would fly on swapalease.
I literally just got the car… a more accurate question is would you rather have a new ‘18 with full maintenance and no chance you will have to replace the tires or brakes or a 2 year old car ‘17 with 20k miles on it which could need all of the above paid out do pocket?
I think a $250-$500 down payment is fair for this car so not completely crapping on the deal, but in the end it’s a used car and think $1,000 is excessive.
Can we agree his original deal was not good? 12% off a loaner.
I legit don’t see the point in criticizing lease transfer posts whatsoever unless it is way out of line with a ‘good’ deal. This is clearly not.
This is a really solid to excellent deal and better than 99.9% of people could get on a loaner. The 0.1% need not crap all over it just to pump up their own ego and drive away potential buyers who think every deal should be a unicorn fart loaner. Let the market decide whether or not his $1k ask is too much…
Good luck OP!! Would fly off your hands on SAL or CL.
