I’ve got a 2021 BMW x3 m40i that I leased end of 2020. It was my first lease. The takeaway I get from scanning the pages of posts in this thread is I had unusually good timing, and will not see that kind of deal right now.
I’m 6 months from lease end, so I don’t have to make up my mind yet, but given that CarMax offers me a couple thousand over even the current lease buyout cost + sales tax, the car is well under the lease miles (thanks COVID!), and I actually like the thing, I think there is probably at least a 75% chance I’ll be buying it.
So, since this is the end of my first lease, I’m just trying to understand if there is anything I’m missing. My calculation is lease buyout + sales tax is the cost. In the other direction the sales tax is pretty much offset by reduced excises tax in Mass if I drive it for a couple more years, which is the likely outcome. I wouldn’t buy it just to sell it.
Beyond that, it’s the normal depreciation. My last two cars I kept for 8-9 years, and one of them was an E46 that I had for 150k miles, so it’s not like I don’t know what I’m getting myself into there. (Having experienced 150k in a BMW, I will not be keeping this one for that many miles )
KBB is useless for pricing, Carmax / Carvana / Vroom etc offers real pricing, KBB offers an ‘estimate’ of what they think a dealer will pay. Considering the Tax check bubble is deflating right now, it might not be worth that $28k.
I’d like to get a great deal, high MSRP low payment
The KBB was thru codycarter Toyota site…got a Tacoma from him in August if he can match the value provided by his site I might be inclined to another.
I’m open to any car that’s a deal,had seen integra deals on here, g70sport, etc but not sure how much they would offer for my trade in …Codys site is very transparent
I pay $350 a month for my GT line K5 2021 about to reach 12000 miles. I did zero due at signing.
Cody’s uses Edmunds, so I don’t know where KBB comes from. (Edmunds is an estimate as well)
Extend the GT Line for a few months.
There are no ‘fun cars’ for that kind of money right now. An Altima is but that’s not a fun car (Per your list of cars you want).
When a deal on a fun car appears, grab it and then sell your Kia. BTW you know that most places won’t take a leased Kia but a Kia dealer right? (Or @Anthony_Lopez , he does it at DSR)
My wife’s lease is up in May. X4 2020 residual is $31k. Dealer is pressuring us to get into a new X4 (of course) for $125 more a month LOL. Exploring options, but I believe due to the market situation I will keep the X4. How do you all get rid of the dealer junk fees to buy the car? The dealer is asking $799 doc fee and is non negotiable. It is a ripoff obviously but not sure if I go directly to BMWFS at the end of the lease this can be avoided?
You hire a broker )who does it for free usually) OR you keep spending hours trying to convince that dealer to not charge you OR you go to another dealer.
Go into your BMWFS account, generate a payoff quote, and get the instructions. In most states (you didn’t mention where you are) I think you can still mail payment directly.
Seems reasonable to me. A low mileage 6cyl X3 should be fairly worry free for next several years. Believe you can still do a direct buyout through BMWFS in MA (I was able to about a year ago) instead of having to go through dealer but you can confirm when you pull a payoff through BMWFS.
Ok - asked for a quote from Carvana and got " Your Carvana Offer - $32,404"
" Leases can be tricky
We love buying cars from our customers but BMW Financial Services policies prevent Carvana from paying off your current lease, which stops us from purchasing your car. This bums us out too."
Breaking down your offer details
Offer amount
$32,404
Lease payoff amount
$27,162
Payment to you
$5,242"
My lease buy-out is * $27,162 - so are there taxes/fees I will have to pay on top before selling to Carvana?
)