05-31-2023, 05:46 PM | #1 |
Major General
4152
Rep 7,167
Posts
Drives: F90 M5 / F15 50i
Join Date: Jun 2017
Location: Virginia
|
Lease is up!
2020 M5 with 20k miles. Lease up next month. Thinking of just buying her out due to lease rates being crap. I’m fully loaded minus CCB with a $1260/mon lease (don’t pay sales tax).
Never done this before although I know not complicated. Just curious as to y’all’s experience.
__________________
'07 Yamaha R1 (sold)
'06 C55 AMG (sold) ‘?20 M5, MP Carbon Pro Spoiler, MP Carbon Diffuser, MP Black grille and gills, MP Carbon Mirrors, CF side sills, 789M w/ Ti studs, eventuri, Dinan X pipe '14 X5 50i (wife’s now) |
06-01-2023, 06:03 AM | #2 |
Private First Class
75
Rep 178
Posts |
Not an M5 but I purchased my wife's X3 M40 off lease last year. I did it through my dealer, although I think you can deal directly with BMW Financial too. Really no different than buying any other car, price was fixed, added a warranty and wrote a check. Done. Re-registered afterward. I didn't have to do any financing for it, so it was really simple.
Will be doing it again this winter for my 21 M5 as well. That will include a little financing but I don't really expect it to be any more complicated. Good luck
__________________
2024 M8C Coupe - Sapphire Black
2019 X3 M40 - Phytonic Blue (wife's) 2020 X3 M40 - Carbon Black (son's) |
Appreciate
1
Maverik2594151.50 |
06-01-2023, 11:53 PM | #3 |
Major General
4152
Rep 7,167
Posts
Drives: F90 M5 / F15 50i
Join Date: Jun 2017
Location: Virginia
|
Pretty much what I figured. Just need to find who’s got the best rates. Seeing mostly around 5.5% plus/minus 0.2%.
Would love to roll in an extended warranty into the financing lol. BMW wants a lot of $$ for them.
__________________
'07 Yamaha R1 (sold)
'06 C55 AMG (sold) ‘?20 M5, MP Carbon Pro Spoiler, MP Carbon Diffuser, MP Black grille and gills, MP Carbon Mirrors, CF side sills, 789M w/ Ti studs, eventuri, Dinan X pipe '14 X5 50i (wife’s now) |
Appreciate
0
|
06-02-2023, 04:18 PM | #4 |
Private
104
Rep 93
Posts |
Where are you finding 5.5%? I need to buy my M5 out in December but now considering a 2023/24 740i so I can get into another lease.
|
Appreciate
0
|
06-05-2023, 01:11 PM | #5 |
Major General
4152
Rep 7,167
Posts
Drives: F90 M5 / F15 50i
Join Date: Jun 2017
Location: Virginia
|
Navy fed and USAA.
__________________
'07 Yamaha R1 (sold)
'06 C55 AMG (sold) ‘?20 M5, MP Carbon Pro Spoiler, MP Carbon Diffuser, MP Black grille and gills, MP Carbon Mirrors, CF side sills, 789M w/ Ti studs, eventuri, Dinan X pipe '14 X5 50i (wife’s now) |
06-06-2023, 11:39 AM | #7 |
Private
80
Rep 66
Posts |
You can roll in whatever you want, but I recommend getting it from Christine at Steve Thomas BMW or someone else that gives discounts - they're significant.
|
Appreciate
0
|
06-06-2023, 12:34 PM | #8 | |
Brigadier General
4162
Rep 3,706
Posts
Drives: 2022 M5C
Join Date: Feb 2020
Location: Earth
|
Quote:
Sorry guys, I could not resist.
__________________
Not a BMW guy...but certainly an M5 guy.
|
|
Appreciate
2
logicators249.50 Maverik2594151.50 |
06-09-2023, 01:29 PM | #9 |
Major General
4152
Rep 7,167
Posts
Drives: F90 M5 / F15 50i
Join Date: Jun 2017
Location: Virginia
|
Restricted.
__________________
'07 Yamaha R1 (sold)
'06 C55 AMG (sold) ‘?20 M5, MP Carbon Pro Spoiler, MP Carbon Diffuser, MP Black grille and gills, MP Carbon Mirrors, CF side sills, 789M w/ Ti studs, eventuri, Dinan X pipe '14 X5 50i (wife’s now) |
Appreciate
0
|
06-22-2023, 08:57 PM | #10 |
Major General
4152
Rep 7,167
Posts
Drives: F90 M5 / F15 50i
Join Date: Jun 2017
Location: Virginia
|
Sanity check. My registration is up in July. Same month my lease expires. BMW just sent me a power of attorney to renew along with the paperwork from the state. but I assume I’ll do an all new registration when i “purchase” the car in July so no need to worry about this power of attorney or registering my car now. Correct?
__________________
'07 Yamaha R1 (sold)
'06 C55 AMG (sold) ‘?20 M5, MP Carbon Pro Spoiler, MP Carbon Diffuser, MP Black grille and gills, MP Carbon Mirrors, CF side sills, 789M w/ Ti studs, eventuri, Dinan X pipe '14 X5 50i (wife’s now) |
Appreciate
0
|
06-28-2023, 10:25 AM | #11 |
Major General
4152
Rep 7,167
Posts
Drives: F90 M5 / F15 50i
Join Date: Jun 2017
Location: Virginia
|
Anyone?
__________________
'07 Yamaha R1 (sold)
'06 C55 AMG (sold) ‘?20 M5, MP Carbon Pro Spoiler, MP Carbon Diffuser, MP Black grille and gills, MP Carbon Mirrors, CF side sills, 789M w/ Ti studs, eventuri, Dinan X pipe '14 X5 50i (wife’s now) |
Appreciate
0
|
06-28-2023, 12:43 PM | #12 |
First Lieutenant
133
Rep 393
Posts
Drives: 2021 M5C
Join Date: Mar 2015
Location: Maryland DMV
|
|
Appreciate
0
|
10-20-2023, 11:18 PM | #14 |
Major General
4152
Rep 7,167
Posts
Drives: F90 M5 / F15 50i
Join Date: Jun 2017
Location: Virginia
|
They’re only getting higher and higher. Recommend just calling around and pick the lowest one. Also remember different banks are gonna pull different credit scores for you. Dealer has me at a better credit score but worse rate than USAA. USAA had me like 20 points lower but a full percent better than dealer. Half better than navy fed credit union.
__________________
'07 Yamaha R1 (sold)
'06 C55 AMG (sold) ‘?20 M5, MP Carbon Pro Spoiler, MP Carbon Diffuser, MP Black grille and gills, MP Carbon Mirrors, CF side sills, 789M w/ Ti studs, eventuri, Dinan X pipe '14 X5 50i (wife’s now) |
Appreciate
0
|
11-17-2023, 10:03 AM | #15 |
Private
104
Rep 93
Posts |
BMW dealer near me offered me $1,000 to buy out the last month of the lease.
Genuinely considering it for a few reasons. I've been grappling with this for months trying to figure out what to do and I think the decision has become pretty easy. I'm opening my own solo law practice in 2024 so I need to keep expenses to a minimum and I am 1000% going electric so buying it out isn't a consideration and I want to save the $2000 I spend on the car, insurance, and gas. Plus my father just passed away and I plan to use his chevy bolt (and $164 monthly insurance) until I get income to get something I want. So $2000/mo to $164/mo is a win if only temporary. If I turn in the lease I will get dinged for tires, mileage and who knows what else (easily $3000) and I can't afford to pay that given the uncertainties of 2024. So selling it to BMW for something is obviously the right move instead of turning it in and paying out of pocket and that solves that issue. My other consideration is an Audi dealership offered me $5,000 in equity toward a Q8 etron lease so I would have nothing out of pocket. But I honestly don't want that car for 3 years so that's no longer an option. If they had a cheap etrong GT I'd consider it. So I think I am going to take it to a few more dealers, get a higher offer, and drive my dad's car until mid-2024 when I expect revenue, and get the i5m60 or wait for the new M5. |
Appreciate
0
|
11-26-2023, 01:23 PM | #16 |
Captain
319
Rep 883
Posts |
My lease ends next month. I want to keep the car, but the residuals say it is worth 90k, but it's more than $75k-80k. Does anybody have experience negotiating with the dealer to get a fair price? I don't want to pay the $90k for it.
__________________
2021 M5 (COMING SOON)
2015 M5 Imola Red (sold) 2008 Monaco Blue (sold) 2002 M5 Carbon Black (sold) should have never sold her |
Appreciate
1
djmcbride1980112.50 |
11-26-2023, 01:24 PM | #17 | |
Captain
319
Rep 883
Posts |
Quote:
__________________
2021 M5 (COMING SOON)
2015 M5 Imola Red (sold) 2008 Monaco Blue (sold) 2002 M5 Carbon Black (sold) should have never sold her |
|
Appreciate
0
|
11-26-2023, 09:11 PM | #18 | |
Private
113
Rep 75
Posts |
Quote:
I wish I had a better answer for you, but this is the only correct answer. |
|
Appreciate
0
|
11-27-2023, 02:24 PM | #19 | |
Private
104
Rep 93
Posts |
Quote:
So at $90k I think you are way over the actual price of the car. I'd just turn it in then buy a used M5 for much cheaper if you want to get into another one. |
|
Appreciate
0
|
11-27-2023, 08:32 PM | #20 | |
Private First Class
31
Rep 114
Posts |
Quote:
Auction prices don’t differentiate between comp and base. I’m buying my 21 comp now and the price is ~73k. Current manheim average is 78k but again it doesn’t factor in comp or base. |
|
Appreciate
0
|
11-28-2023, 10:09 AM | #21 |
Private
104
Rep 93
Posts |
$73k was the price I would have gotten if I traded it in for an Audi so yes this tracks.
|
Appreciate
0
|
Post Reply |
Bookmarks |
Thread Tools | Search this Thread |
|
|