Would you buy out your lease?
11-06-2008, 09:35 AM
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My Ride: 2007 530i, white/black manual, sports package, nav, PDC, etc.
This is what I'm considering: My 2007 530i is 2 years old and the lease is up. Mileage is just under 20k. The original retail price of the car was around $58k and is very well equipped. It's a rare manual transmission car. There are no CPO MT cars available in my region.
BMWFS is willing to take a $9,500 write-down from the residual, bring the buyout to somewhere just below $34k and 2.9% financing.
The car was built to my specs and I'm happy with it, although one of the deciding factors is the continuing depreciation on the car and the sales tax that'd have to be paid.
Still, getting a slightly used 5 series for around $34k doesn't sound so bad when you consider what they cost new.
If I take the deal, I'd be committing to owning it for at least another 2 to 3 years. If I don't take the deal, there's nothing out there that is really compelling except perhaps a 535i or a 335i.
Any thoughts here?
BMWFS is willing to take a $9,500 write-down from the residual, bring the buyout to somewhere just below $34k and 2.9% financing.
The car was built to my specs and I'm happy with it, although one of the deciding factors is the continuing depreciation on the car and the sales tax that'd have to be paid.
Still, getting a slightly used 5 series for around $34k doesn't sound so bad when you consider what they cost new.
If I take the deal, I'd be committing to owning it for at least another 2 to 3 years. If I don't take the deal, there's nothing out there that is really compelling except perhaps a 535i or a 335i.
Any thoughts here?
11-06-2008, 09:41 AM
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My Ride: E90 M3
Model Year: 2011
Sounds like a pretty good offer to me, very tempting. I would take it and see what the F10 really looks like in a couple of years
11-06-2008, 10:19 AM
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My Ride: 2007 530i, white/black manual, sports package, nav, PDC, etc.
That actually is a serious consideration, about waiting for the F10. I never buy a BMW until at least one model year has passed, so assuming a 2011 release, that'd put me in 2012.
Originally Posted by kscarrol' post='713950' date='Nov 6 2008, 10:41 AM
Sounds like a pretty good offer to me, very tempting. I would take it and see what the F10 really looks like in a couple of years
11-06-2008, 10:21 AM
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My Ride: 2004 530i
premium package/active steering/auto sunshade/tiag/black dakota leather/logic 7
35% tint all around
19' DPE GT7
Well if you were to go out and buy another 2007 530i right now how much would it be? If is similar you should buy it out, taking into account that you have owned it from new and you know exactly how it was driven over the last 2 years. On the other hand if there have been things in this car that you don't like you can give it back to the dealer and get a new one and start with it from scratch. Basically depends on how attached you are to your current car. The way the markets are right now you may be able to get into a 550i for the same payment or similar to what your current payments are.
11-06-2008, 10:36 AM
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My Ride: 2006 530i Alpine White on Black interior, Sport and Premium Package, Steptronic, Navigation, Xenon Adaptive Headlights, Mtec V2.1 angel eyes,Hoen Fog Lights, Full M-Tech kit, ACS pedals, LED plate lights, CF Steering Wheel badge, CF Titanium trim, OE
I say take it!! its a good deal! 
11-06-2008, 10:40 AM
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My Ride: 2007 530i, white/black manual, sports package, nav, PDC, etc.
I have explored the market for other 2007s but the problem is that there are no manual transmission cars available, plus the mileage of the 2006 cars (which are more abundant) is higher and not as nicely equipped. My car is very dialed in with anthracite headliner, the right colors, etc., so there is a personal element to it that has some value.
Originally Posted by cleung' post='713991' date='Nov 6 2008, 11:21 AM
Well if you were to go out and buy another 2007 530i right now how much would it be? If is similar you should buy it out, taking into account that you have owned it from new and you know exactly how it was driven over the last 2 years. On the other hand if there have been things in this car that you don't like you can give it back to the dealer and get a new one and start with it from scratch. Basically depends on how attached you are to your current car. The way the markets are right now you may be able to get into a 550i for the same payment or similar to what your current payments are.
11-06-2008, 10:43 AM
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My Ride: My ex-ride: EU '08 LCI 520dA. Space Grey, Sport Seats in Black Leather/Fabric Anthracite, Sport Steering Wheel, A/C with Extended Features, Hi-Fi Speakers, Cup Holders, Cruise with Braking function, Folding Rear Seats, Xenons, Park Distance Control.
Yes.
Note the situation US is in now!
Car dealers are shaking and cash is king.
Bargain hard, really hard.
Note the situation US is in now!
Car dealers are shaking and cash is king.
Bargain hard, really hard.
11-06-2008, 10:50 AM
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My Ride: 2007 530i, white/black manual, sports package, nav, PDC, etc.
There is no further bargaining with BMWFS. I've tried as hard as I possibly can, and this is the bottom. Even if I can prove that the car is worth less, and pay in cash, it won't make any difference.
Originally Posted by Ricracing' post='714019' date='Nov 6 2008, 11:43 AM
Yes.
Note the situation US is in now!
Car dealers are shaking and cash is king.
Bargain hard, really hard.
Note the situation US is in now!
Car dealers are shaking and cash is king.
Bargain hard, really hard.
11-06-2008, 11:04 AM
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My Ride: My ex-ride: EU '08 LCI 520dA. Space Grey, Sport Seats in Black Leather/Fabric Anthracite, Sport Steering Wheel, A/C with Extended Features, Hi-Fi Speakers, Cup Holders, Cruise with Braking function, Folding Rear Seats, Xenons, Park Distance Control.
Originally Posted by Robert A' post='714026' date='Nov 6 2008, 09:50 PM
There is no further bargaining with BMWFS. I've tried as hard as I possibly can, and this is the bottom. Even if I can prove that the car is worth less, and pay in cash, it won't make any difference.
As we write the NY stock exchange is coming down, again and still!
Did write here over a year ago not to buy a house just now...