Negative Equity...
04-10-2007, 05:00 PM
#1
Members
Thread Starter
Join Date: Apr 2007
Posts: 3
Likes: 0
Received 0 Likes
on
0 Posts
I'm thinking of turning in my 06 530i lease to get into a 328 coupe...and ask my salesman how much would I need to pay to get out of my lease. He came back and told me I would need to put down $12K. I was like HOLY #%#$!$#!@. I know my payoff is $48K but my 530i is totally loaded (Sport, Prem, Nav, Sat, Cold weather, heat steering etc. and only 11,600 miles after 1 full year) and MSRP was $56K. How the heck did they figure $12K???
Am I being screwed???
Am I being screwed???
04-10-2007, 08:28 PM
#2
Contributors
Join Date: Apr 2005
Location: San Diego, CA
Posts: 7,363
Likes: 0
Received 0 Likes
on
0 Posts
My Ride: 2007 E63 AMG | Obsidian Black | Schwarzes Nappa | Black BirdEye Maple | Premium II Package | Electronic Trunk Closer | Parktronic
Engine: RPi/Powerchips custom ECU tune, RPi Ram Air Kit (BMC filter, scoops), RennTech Sport exhaust, secondary cats, charcoal and resonator delete, custom AAA x-pipe
Exterior: 50% side windows / 35% rear window Formula One Pinnacle Series | Flat AMG hood emblem
Suspension: Renntech Lowering Module
Wheels/Tires: Radenergie R10, Falken FK452 245/30/20, Yokohama ADVAN Sport 285/25/20
-----------------------------------------
2005 545i Sport SMG | Ti Grau | Schwarzes Dakota | Anthracite Maple | Logic 7 | Nav
Engine: Custom AFE CAI, Superchips ECU remap, Sprint Booster, RDSport Dual Exhaust Conversion with Quad Pipes and X-pipe, 3 resonators deleted, 90mm tips!
Exterior: M-Tech Aero kit | M5 Mirrors | M5 Rear Bumper | Trunk Lid Finisher | Vorsteiner decklid spoiler | 50% Formula One Pinnacle Tint
Suspension and Brakes: Bilstein PSS9 coilovers, JBT BBK: 16" cross-drilled rotors, 8 piston and 15" cross-drilled rotors, 4 piston
Wheels: VIP Modular VR 02 20x9F, 20x10R | Toyo T1R 245/30/20F, 285/25/20R
Lights: PIAA 4150K Xtreme White Plus fog lights, AIB v3
MOST IMPORTANT: Hardwired V1; =)
ED Date: 4/7/05, Re-delivery date: 5/21/05
You're always screwed if you want out of a lease early. If you're going to trade-in the 530, you're not going to get the dealer to pay the payoff amount. The dealer is going to buy your 530 for $36K which leave you with the difference of $12K = $48K payoff amount.
Now of course, they will gladly tack on the $12K to the price of the 328. I'm not certain what a 328 cost but let's say $40K. Add $40K plus $12K = $52K. Are you willing to pay $52K for the 328? If so, then there is your plan of action laid out.
Now of course, they will gladly tack on the $12K to the price of the 328. I'm not certain what a 328 cost but let's say $40K. Add $40K plus $12K = $52K. Are you willing to pay $52K for the 328? If so, then there is your plan of action laid out.
04-10-2007, 10:08 PM
#3
Contributors
Join Date: Oct 2006
Location: Miami, FL
Posts: 107
Likes: 0
Received 0 Likes
on
0 Posts
My Ride: 2007 530i Saphire Black, Sport Package, Premium Package, HID, and SAT Radio.
Do what I did...SWAPALEASE.COM, what a breeze.
I only had my 07 530 sport for 8 months, put it on the web site and bmwfs was amazingly easy.
I only had my 07 530 sport for 8 months, put it on the web site and bmwfs was amazingly easy.
04-11-2007, 07:21 AM
#4
Members
Thread Starter
Join Date: Apr 2007
Posts: 3
Likes: 0
Received 0 Likes
on
0 Posts
Originally Posted by MIAMI 5' post='412330' date='Apr 11 2007, 01:08 AM
Do what I did...SWAPALEASE.COM, what a breeze.
I only had my 07 530 sport for 8 months, put it on the web site and bmwfs was amazingly easy.
I only had my 07 530 sport for 8 months, put it on the web site and bmwfs was amazingly easy.
Thank you guys!
04-11-2007, 08:47 AM
#5
Contributors
Join Date: Apr 2005
Location: San Diego, CA
Posts: 7,363
Likes: 0
Received 0 Likes
on
0 Posts
My Ride: 2007 E63 AMG | Obsidian Black | Schwarzes Nappa | Black BirdEye Maple | Premium II Package | Electronic Trunk Closer | Parktronic
Engine: RPi/Powerchips custom ECU tune, RPi Ram Air Kit (BMC filter, scoops), RennTech Sport exhaust, secondary cats, charcoal and resonator delete, custom AAA x-pipe
Exterior: 50% side windows / 35% rear window Formula One Pinnacle Series | Flat AMG hood emblem
Suspension: Renntech Lowering Module
Wheels/Tires: Radenergie R10, Falken FK452 245/30/20, Yokohama ADVAN Sport 285/25/20
-----------------------------------------
2005 545i Sport SMG | Ti Grau | Schwarzes Dakota | Anthracite Maple | Logic 7 | Nav
Engine: Custom AFE CAI, Superchips ECU remap, Sprint Booster, RDSport Dual Exhaust Conversion with Quad Pipes and X-pipe, 3 resonators deleted, 90mm tips!
Exterior: M-Tech Aero kit | M5 Mirrors | M5 Rear Bumper | Trunk Lid Finisher | Vorsteiner decklid spoiler | 50% Formula One Pinnacle Tint
Suspension and Brakes: Bilstein PSS9 coilovers, JBT BBK: 16" cross-drilled rotors, 8 piston and 15" cross-drilled rotors, 4 piston
Wheels: VIP Modular VR 02 20x9F, 20x10R | Toyo T1R 245/30/20F, 285/25/20R
Lights: PIAA 4150K Xtreme White Plus fog lights, AIB v3
MOST IMPORTANT: Hardwired V1; =)
ED Date: 4/7/05, Re-delivery date: 5/21/05
Usually, on sites such as swapalease you need to provide a sort of incentive for the potential new leasee to assume your lease. A great monthly payment is not enough. They will want upfront money. Not always the case, but a large majority. In addition, you will be paying the lease transfer fee ($425) as well.
04-11-2007, 09:06 AM
#6
Senior Members
Join Date: Dec 2006
Location: SF Bay Area
Posts: 1,690
Likes: 0
Received 0 Likes
on
0 Posts
My Ride: 2007 550i..... ex
I'd also say swapalease is the way to go, one of our sales lady did that here with her SAAB to get into a new 328i coupe. It beats getting ripped by the dealership. Incentives are good but not necessary, not many people give incentives but of course it's always a benefit if you want to hurry up to get rid of your car.
Dan
Dan
Thread
Thread Starter
Forum
Replies
Last Post
Awest91
E60 Discussion
20
09-17-2022 11:05 PM
PelicanParts.com
Vendor Classifieds
0
07-23-2015 12:29 PM