hi there,

this is my first post. im posting, because i've simply fell in love with the new M5, like countless others. i am currently driving a 2005 porsche 997 carrera S. the car has every option available including cyramic brakes, i've put about 15,000 miles on it. the car is in great condition. i went to kbb.com it said my car's trade in value is just under 70,000 and their suggested retail is just under 80,000. ok, here is my dilemna: i leased the porsche in sept of 2004 and now i want to get rid of it and get the new M5. my question is, if i want to get the new M5 but i don't want to come up with the remainder of the balance to pay off the porsche. how can i proceed about getting my M5? i called several dealers and located a few M5's, they told me i should call the bank responsible for financing my vehicle and find out the payoff? what is the payoff? they said i could trade in my porsche for the M5....does anyone know how this works? do i just give them my carrera S? and they deduct however much the trade in value is and i refinance for the M5 or....? anyone able to shed some light on this subject for me before i go to the dealers? anyhelp will be greatly appreciated.


///M5 Lover

i was browsing the site and realized i may have posted in wrong section of the forum. i apologize for this......again any help will be greatly appreciated.

Where are you from? what are your payments? I might be interested in taking over your lease...

PM me with your details.

im from Los Angeles.....as for turning over the the lease, i'll have to wait and see which way works out the best. im still not sure how to proceed...need more info and advice...

Have you tried swapalease.com or leasetrader.com?

Given you are in L.A., I would assume someone there would be willing to take over your lease payments (may need to give an incentive). Even with an incentive, you will likely come out better than if you trade in to a BMW dealer.

Just out of curiosity - why do you want to switch? You'll be taking a pretty good beating any way you do it, just because of the initial depreciation.

well, first off it is my only wehicle at this time. The porsche is also manual and i live in Los Angeles, getting in and out is extremely difficult. i owned a e46 m3 about 3 years back it was smg2, i loved it. sold that to get an RS4...went ko-5's on them. was cranking out probably 550 horsey's but this was all back in my native country Taiwan. I fell in Love with bighorsepower cars, about two years back i moved back to cali but due to lack of options at that time i was literally forced into getting the carrera S. The car was pre-ordered by some guy that decided to pull out at the last minute. it had every option available and i think the sticker was 98,576$. it was a car that i could drive off the lot that day, that was probably why i got it. but recently, i've picked up golfing and my clubs won't fit in my car!!! i started to look at 4 door sport-sedans and i liked the Maserati Quattraporte, because of its elegance and that it had a transmission similiar to that of the BMW SMG. however, after testdriving the vehicle i was ultimatley dissapointed by its lack of agility and although it has more than 400 horses, it was not a vehicle i would want to drive daily. simply put, it was not fun! then ofcourse there's the MB E55, but i was never really a fan of mercedes nor did i enjoy the fact that i already have 4 friends that drive the E55. I went back to Taiwan about 6 months ago, they had already received limited shipments of the E60 M5. i got to see one in person and i was literally crying when i lifted up the hood and saw that enormous beast of a V-10 staring back at me. with its vanos technologies and a 7 gear SMG transmission, there is really nothing to not love about it. i was informed that the waiting list is more than a year but various dealerships will have 1 or 2 in stock. i've decided to proceed and get the M5 because i might one day want to ship a car back to Taiwan, im certain that i don't want to waste time, money and effort in getting the Carrera S back to Taiwan but the M5 will be nice to drive anywhere. So......any other advice you guys can give me i would greatly appreciate it.

here in Europe normally you cud do it no fuss disuss the price w dealer than w bank they transfer your lease from Porsche to BMW and you pay what they say w/o details difficult to say. BUt two things are sure, 1 dealer lives from your money, 2. bank even more good luck, you wise man and welcome to the forum, I know why u wanna change it, this is E60 Forum :thumbsup: