Quote:
Originally Posted by Mbdurham17
Sorry for the long rambling post just looking for some advise or maybe writing it out will help me decide lol.
The lease on my 2016 CP is up in August 2019 and I am already at 49k miles on a 30k lease. My driving habits changed tremendously from when I got the car due to a move and my commute went from 30 miles a day to 100. I had a 2014CP previously leased for 3 years swapped that was 2k or so over and did not get any charges on trade.
A few months ago I swapped cars with the wife to save miles she has a 2015 Camry that's paid for but that's not ideal for soo many reasons  but she only drives about 20 miles a day on average. We are about to pull the trigger on a new SUV for her (Yukon Denali) so until we move my office early next year and my commute get cuts in half I'll keep the Camry as my highway car and keep miles off the M.
When I think about it it seems silly as I'm paying 1300 per month for the M to sit in the garage and keeping a car we could sell or trade for about 12k towards the SUV either until we move the office or until my lease ends. So essentially spending 13k in lease payments for it to sit in the garage except weekends and not enjoying it. Even if I start driving it after we move our office I'd probably put another 10k miles on it so at .30 per mile I'll owe 9k at the end of the lease. I am not sure if they will wave all or any of this if a decide to get a F90 then (anyone have experience with this many miles over?) and it won't be anything they could sell CPO
So the dilemma :
I took it for service the other day as my SA advised to get as much done user warranty as I could before hitting 50k and the sales guy approached me about trading for a 2019 competition they had on the showroom floor. Highly optioned 133k MSRP in an individual color with m performance bits which I liked only thing I may change is it didn't have the competition wheels it had all black but they said they could possibly swap them if I decided to.
I am not leasing again this time I'm going to buy because each time my lease has been up on my last two M5s I wasn't ready to get rid of them and the lease rates suck now. The initial offer was horrible MSRP and an additional 19k because of the mileage and current payoff on my car being 91k (80kish at lease end) I said hell no so he offered to split the 19k and work on a discount from MSRP. My thoughts are if I can get them to agree to $140k or below obviously I will probably do it.
Is this crazy? Am I using new car fever to talk me into doing something stupid?
Should I keep it til lease end pay the 9k or so hope for a better deal?
Or something different
Any thoughts and guidance appreciated. |
Hey brother,
Good re-connecting here in the F90 M5 forums; hope all's well.
The 19K is certainly going to pose a challenge in any deal you try to negotiate but hopefully you can lower what that final # looks like.
The only thought I would convey is that you can find more aggressive discounts and incentives on the 2018 Base M5's that are sitting on dealer lots; this may aid in offsetting the upside down balance on your current M5. Since you'll be buying I'll skip the discussion regarding the lousy RV's on the 19 M5's.
If your mind is set on the 19' M5C you can expect less aggressive discounting and no incentives (M5C) and much less wiggle room to offset the balance of the current M5.
You know M5's so this will really hinge on your desire to be in an M5C for the tuned suspension, better exhaust etc.
If you're looking to make this less painful going the 18 Base M5 route makes much more economic sense IMO.
I leased my current 19' M5C so I just went through all of the research and ended up with zero incentives and $1500 off MSRP so that you have something to measure your deal against.
Good luck!