Hello, I would really like to lease a 2017 X3 xDrive28i. The goal is to have a lease that has monthly payments of about $500 or less with $0 down. Seeking a 10k or 12K mile lease for 3 years. I currently have a car loan in which I still owe about 11k on. Online appraisals put the current car value …

So do you have another car that will give you a $6k trade in?

No, it’s just the car I currently have. Owe $11k, minimum value of $6k. With the remaining ~$5K negative equity, I was thinking of just cutting a check to the bank instead of adding it on top of a new bmw lease. That’s why I want a $0 down lease since I would be writing a big check to the credit ban…

Why would he need another car to trade-in? He said he’s willing to pay the difference (cash).

[image] dogz1189: for a 53K MSRP, $6k trade in, $0 down I was trying to get clarification on this part. $6k trade in suggest that dogz had a car with $6k of equity to trade in.

Actually, I wound investigate the difference between cutting a check to the previous lender and just rolling it into the new lease. I would still get your trade-in appraised by CarMax and other dealerships to get the max value possible, though. Why roll the neg equity in? Because if you total the c…

[image] reedog117: Why roll the neg equity in? Because if you total the car you’re leasing, you suddenly don’t have to pay all that negative equity anymore! (Yay GAP insurance!) I’ve read most GAP policies don’t cover rolled over negative equity from a previous vehicle.

At least with the BMW i3 lease I signed in 11/16 my neg equity was rolled in. I only had ~1.5k rolled in though.

Yes, it’s easy to roll in negative equity, but GAP will not cover that negative equity in the event of a total loss. “Most GAP policies, though, won’t cover the debt you brought over from the previous vehicle. That leaves you in exactly the position you thought you would avoid, which is having no c…

Funny – this article says the opposite in most cases where GAP is included by the dealership (which is the case for all BMW leases). See reason no. 5 in this article. http://www.autonews.com/article/20110928/FINANCE_AND_INSURANCE/110929906/7-reasons-to-buy-gap-from-a-dealership However, I figured…

Just to get an idea…using the Lease Calculator for a 10K / 3 years lease… I’m plugging in an MSRP of $51,050 with a sales price of $48,000 Down: $0 Acq Fee: $925 Residual: 64% MF: .0014 Standard Doc Fee: 80 Standard License: 400 Sales Tax on monthly: 9.5% $6k Trade-in I’m getting a monthly…

Seeking BMW 2017 X3 Lease - First timer!

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Jon May 12, 2017, 5:14pm 11

I’ve read most GAP policies don’t cover rolled over negative equity from a previous vehicle.