monacobmw

Hi, I leased my 530i for 3 years, and the lease is expiring in May. I still do not know what to do. I am seriously considering the 550i for 3 years, but I don't want to go two years into the F10 models with an older model.

If I extend the lease for another 1-2 years, will BMW reset the residual value and money factor (and lease the car based on its adjusted fair market value)?

Obviously, the original payments were based on higher depreciaiton between years 1-3. The depreciation over the next year will be much less.

Thanks for any help on this issue.

monacobmw

I tried to see about extending my lease.

My payment for the first 3 years is $694 month.

The payment each month for the 4th year would be $1600. Can you believe that?

They will extend my lease for 6 months for $694, but even that is a stretch for a 3 year old car.

danzzz

$694 for that 530i is just about the payment (before tax) on my 09' 550i (7k msrp). So, why not just lease a new 550i, and you might get a really good deal for a 09's.

tblck543

wow way to much for a used 530...go finance an '06 m5 for that price a month seriously you can get them for like $45000 now

monacobmw

I am leasing a new 2009 550i. The MSRP is around $74k.
The amount of the monthly payment does not matter because it is based on how much you put down.
My $694 includes tax and has no money down.
My new payment will be more than $900 with no money down.

305bimmer

One option is just financing the lease once its over, drive until the new car comes out, then trade it in. I have always been against putting money down on a lease because you never see that money again, its basically just a prepayment on the lease, unlike on a finance, where you pay down principle and purchase the vehicle.

Gene

try and avoid putting down payment on a lease, explore MSD's (multiple security deposits) instead, at least you don't lose that money like you would on a down payment......

-Mike-

Check out leasetrader.com or swapalease....you can take over someone's lease...most times you get to take advantage of someone else's huge down payment. If I were into leasing, this is what I would do. My brother just went through the process, and it's very clean and smooth. I don't work for either of these sites, I just buy into the service they are selling.