My 2020 BMW 330i is coming up on lease end in March. Projecting mileage overage of ~6,000 miles, current mileage 39,500. Therefore lease turn in is not a good option. Lease buyout is currently ~$28,000, will drop to ~$27,000. I do not want to keep the car- the Jet Black paint was a mistake I will never make again. Trying to do damage control on getting rid of the car.
Right now my best offer is $28,500 from Driveway, but I know they cannot purchase my vehicle. Autonation is offering $27,000.
How is everyone handling third party buyouts for BMW in California? I have heard that it is possible to avoid sales tax if you can sell the vehicle within 10 days…anyone been able to accomplish that with Driveway/Carvana/Vroom? That seems the best way to avoid losses on the car if possible.
I am currently in a 2021 BMW 430I Coupe with approximately 12 months left. My dilemma is should I just finance the car? I was able to lock in a strong rate, or wait another 6 months to see where the market is & potentially just get into another lease? To simplify What’s your thoughts on having a lease with 12 months left and what to do next? finance it/buy it out or wait until market calms.
Just bought out my X7 for $46k, original sticker was like $86 or $87. 40k miles, it was a no brainer, tbh. My payment was $699, can’t find a 2023 sign and drive for under $1200.
Good news is I believe we’re nearing the end of this. The final excess of cash is being bled out of the system now, gluts will be building, and deals will be coming within 6-12 months.
X7 is under warranty until August, so technically I’ve got until then, but I’m trying to find an end of year hack between now and 12/31.
My 2020 i3 REx has about 6 months left till the lease ends. It’s the Panda-flavor with Giga interior, Tech package, moonroof, and the phone warmer wireless charging. Currently leasing it for $99/month and have about 20K miles so far. Residual is $32K and change. My original plan was to return it and buy/lease a Z4 or M240i, but now I’m seriously considering keeping the i3 because:
REx warranty is crazy: 15yrs, 150K
Battery warranty is pretty good: 10yrs, 150K
Car has been pretty reliable and I have the tooling to DIY the non-HV parts of the car
The $32K residual is currently below market value and new EV options are either the Bolt or Leaf (before dealer markup)
Pandemic-driven supply chain issues imply lower quality of car components/chips, especially for newer cars post-2020 (my i3 rolled off assembly line in July 31, 2020)
It fits well into my fleet portfolio: the F31d for longer drives while the i3 is used for shorter distances within my community
HOV/Carpool stickers are valid till 2025
I have a spare set of tires ready
I like the i3 in general as it’s a small, quirky car that fits my needs nicely, and something that doesnt stand out as much as my Estoril Blue wagon. Are there more fun and really impractical cars? Yes! I had a Z4 M40i for a weekend and it was a blast, but is it worth $70K spec’d out how I want it? Probably not. The same goes for the i4 M40i, which is why I was looking at the Supra or the M240i that hover in the $50-60K category. I’m now in a 2022 M340i loaner and it just doesnt compare to the Z4, despite having the same engine. The exhaust is more muted and ASS cannot be defeated because it now has the 48V system.
Sounds like you’re still a bit scrambled on which direction you want to go at the end. The i3 and the Z4 are entirely different segments. I have a few questions that might help with guidance going forward:
Are you looking for EV?
Is the i3 your weekend car?
The F31D probably accomplishes a lot of what is needed in a daily outside of carpool stickers, but if you are considering dumping the i3 for a Z4 I’d assume that doesn’t matter much.
I think there are better ways to spend your money on a weekender than the new Z4. My personal opinion would be to find a used Z4M if it’s a weekender.
My personal opinion would be to find a used Z4M if it’s a weekender.
Used Z4s are almost as much as new in this car market, but to be fair the market in 5-6 months can be very different from today. If I’m going through the motions of getting a bombastic impractical car, I’d go all in and order a M40i in Thundernight Metallic with all the goodies.
How sure are you that $32k is below current market value?
KBB trade value is $34-37K. Used examples from local dealers with similar age and mileage are about the same too.
Wait another 5 months and decide then?+
Agreed. Numbers could go either way: BMW might stay firm on a above-market residual or offer a customer purchase promo like they did in 2020 to sweeten the deal. I’m raising the question now as I’m debating to clear bra the front, which I normally do for vehicles I keep. The bumper is in surprisingly good condition, seems like a good opportunity, and a cheap bet to lose if I dont keep the car.
Edit: I crunched the numbers and compared leasing a Z4 for 3 years vs. financing the i3 over the same period. The two are not that far apart.
I am hoping to get some advice. The 36-month lease for my Mercedes GLE is up in a few weeks. I am debating whether I turn in the car or purchase. Mercedes will give me a 3 month extension to make the decision.
I met with Mercedes and when all the numbers are crunched, I will be paying up to $15K more for the car than the price I negotiated when I leased. The interest rate is also around 5%, which is 2% more than the current rate.
This is my first lease and am looking for guidance on what to do. Should I purchase even if $15K more and higher interest rate, so I don’t lose the equity? Or do I turn in the car and finance something with another brand?
Im confused, is the dealer saying you need to pay 15k more than what the rv says in your lease contract to buy it out? If so, talk/go to a different mercedes dealer, because the one you talked to sucks and is taking you for a ride.
What is your residual value? It should be listed on your contract? When you say I met with Mercedes, are you referring to a dealer? How are you coming up with that $15k number?
2019 330i coming to an end. $30k residual, $32k with sales tax, KBB trade in is $30k. 28k miles, loaner, was allowed up to 40k. one more months left on lease. This is an obvious return right? I assume nothing I can really get value wise.
Side note - I have one different tire on the car at the moment that is not a run flat and brakes are probably about ready to be changed. Should my strategy be to try to negotiate out of paying that, knowing that there is probably no cash on the table here?
Get your lease-end inspection from AutoVIN asap. If you aren’t planning to buy out the car, yes start getting quotes from BMW dealers to buy it, try and save yourself the disposition fee.
