I currently own a 2019 BMW X4 M40i with 15miles total (I only use it on the weekends). I bought it after my leased ended 1yr ago.
Now that the market has normalized (discount coming back) I would like to trade-in for a new lease and get a new BMW.
What is the best/easiest way to do it:
a) just sell my current car online directly (example: Carvana) and start a new lease negotiation
b) sell the car to a dealership get the cash and get a new lease
c) any other options that I should consider?
I will be happy to pay for a broker to get one deal. Is this something that they do too?
Thanks
Used market value indexes are down around -6% Dec/22 to Dec/23, so whatever purchase discounts may have improved, there has been an inverse impact to trade-in values. It’s become very hard, in the current climate, to get a fair trade-in offer from a dealer, but this is probably the “eaiest” way to do it. I suspect you will get the “best” offer by trying to find a private party or by getting lucky with one of the online buyers. You can post the car here, in Private Transfers and see what feedback, or interest, you may generate.
One thing to keep in mind is, if you are applying the trade-in value of your car towards your lease, you are effectively putting a down payment on your lease. If you total the leased car the next day, that down payment is gone.
So it is always better to shop around and get the best trade value for your car and get a check in hand. You can ask the dealer from whom you are buying the car to write you a check for the trade-in instead of applying it towards the lease.
Always negotiate on the discount off of MSRP, base MF etc.
interest rate should go lower but not as fast to get back to the levels in 2018/2019
rebates is something that maybe they will use again if sells continue to decline
Get a trade in value from a bunch of online sources like carvana, vroom, algo, autonation etc.
Get an offer from a dealer.
Try to trade in the car to a dealer so you can offset the taxes. NY tax is 8.8625% so all things considered you’ll make 8.8625% more trading it in rather than selling it. That being said, dealers know it too so they can screw you over on that
btw i see that Volvo and MB have hybrid options with huge incentives and rebates, while BMW only full EV which is super expensive
something that BMW missed?
the x5e is the only one but i haven’t seen any good lease on those while in Volvo I see more options available
or maybe is me, but I don’t see the X5e in the dealers…
Because they can’t keep them in stock. Every X5e flies off the lot and is usually sold before it lands. Typically custom orders. Some discounts still can be had, but you’re not going to see 10% off on a limited volume model. Just what it is.
