Morning everyone,
I have a bmw x5d that is just costing me a fortune in repair bills. I’m looking to trade in but I’m about $4000 upside down. Any suggestions on vehicles to lease that I can bury the $4000 and have a $450 or less car payment?
It surely won’t be anything as expensive as an x5 for 450/mo. That negative will be 111/mo roughly on a 36 mo alone.
You MAY be lucky to find a demo 430i this month to bury that and come out around 450. Maybe a low/mid equipped Equinox if you’re looking for CUV.
Coming from an x5, however, you’re probably going to be quite disappointed with only a 450/mo budget and 4k in negative.
$127/mo with BMW base MF and 8% sales tax;
I’d be checking on Infiniti since their MF is basically zero.
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Yeah, I didn’t include tax and interest since those were variable based on locale and captive chosen.
That said, that’s a nice chunk of change eating a pretty small budget.
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I’d look for a snowy off ramp, a bit hard to find this time of year though…
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Not in the Colorado Rockies apparently…
My wife drives it, she just wants something reliable at this point. At this point anything but a BMW would be open to discussion.
We have a Nissan Rogue that we lease as well. That’s coming do shortly, infiniti could be an option.
Thank you.
Or leave it unlocked in the hood:smiley:
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I was thinking that when I was typing, lol
You need 2 things:
a) a blazing fire
b) an airtight alibi
I recently hacked a 440i to get out of $5,500 of negative equity and still came out relatively well.
Anything with a nice discount and a boatload or incentives would do the trick honestly. Loaner 4’s are good candidates for this currently if you can find a dealer willing to go 20% off preincentive.
That may be worth looking at. So, 2019 BMW 440i loaner?
Great points here, you need something that is either deeply discounted (equal to or greater than the negative), or something that will carry the advance (LTV). And keep in mind you’ll be paying tax and rent on the negative, so something with a low money factor. With BMW you have loyalty, but other brands may have conquest. Been in your shoes before (about 6k I rolled into a 24 month lease on my first Ford CMax to rip off the bandaid), only other advice is: once you sign this lease, you need to eject at the term (don’t extend it or you’re still paying that fraction of negative you already paid off). Good luck!
I’m in a similar situation as OP. 2013 Ford Fusion with about 2.5k negative equity and 70k miles. Id like to roll it into a lease for something newer. I’ve seen a lot of mentions of the 440i on this forum. How do I go about getting a good quote from a dealer? Do I initially disclose my car’s situation to them? I’d also like to add that I have decent credit (730) and I’d like to leave with $0 DAS.
Desperate shoppers don’t get good prices.
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You’ll prob do best financially sticking with ford. The escape has $4k cash back, the fusions are also on fire sale, the rent charge is low. Work your best $0 DAS deal on what you want first and then mention the trade. If you’ve taken it to carmax and you are right on negative see if you can get them to roll it in (~75/mo on 36?). BMW has conquest but it’s small. Ford might have RCL bonus incentive (last month it was 0-2k depending on model). Or try other suggestions here: Infinity has low money-factors so you aren’t paying much interest. Outbacks are on clearance and lease well.
Trick is not just rolling the neg, it’s not paying a lot of interest on it. A good finance manager will bump you a couple points.
It’s the end of the month, so give it a shot, but you aren’t chasing a Unicorn with that much baggage weighing you down.
2.5k upside down isn’t that bad.
I mean, it’s a sucky situation but it’s nothing a ton of incentives won’t take care of.
I don’t know why we’re dancing around the obvious.
The simplest way to resolve negative equity is to make one payment equivalent to the negative equity.
Rolling negative equity into a lease doesn’t make it go away, it just stretches the misery over a greater period of time – and adds more finance charges.
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MSD’s outweighed in savings me paying the negative equity off in my case. Why? Because they lowered the interest rate for the entirety of the leased value including the negative equity portion.