[Mbdurham17]

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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.

[ST3]

Leasing stinks unless you are willing to take the risk of writing off via your business. I finally learned my lesson (I know playing the residual game seems like a"win" but I have yet to win...ever ...once factoring in the lack of flexibility and the true money factor)

Having said this, it seems like they are offering you nearly the standard high discounts for the new car and not much more. Have you considered pre buying the extra miles and finishing out your lease...the cost per mile of a new lease or buy will be much higher ? I seem to recall that was an option on BMW leases in the past...

Hope this helps.

[josec70]

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!

[norbtx]

Do it, it’s worth it. Such an awesome car.

[Mbdurham17]

Thanks for all the responses. Definitely want a CP car when I get ready but not sure this one is going to be it. Wasn't really ready or looking anyway so no biggie.

So far they are not willing go any lower than MSRP and 17k adder for my lease trade because of the mileage and lease payoff amount or 2k off MSRP and 19k for my car either way number is the same lol

Trying to decide which is the best financial decision (I know none of them lol) either waiting til lease end and trying to negotiate out the added mileage costs then or since I'm buying biting the bullet now and putting the 14k with taxes in lease payments over the next 10 months toward payoff 🤔

[Mbdurham17]

Originally Posted by josec70

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!

Originally Posted by josec70

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!

Thanks I knew I would end up here too eventually lol. Yep all good hope all is well with you too.

[josec70]

Originally Posted by Mbdurham17

Thanks I knew I would end up here too eventually lol. Yep all good hope all is well with you too.

All good! Keep us posted.

[desertfox73]

Get the black CP one they have listed for $22k less.

[KoenG]

Originally Posted by Mbdurham17

Is this crazy? Am I using new car fever to talk me into doing something stupid?

Well, I have the impression you're already past doing something stupid. You apparently already did.

[Vic55]

I can chime in with all kinds of stuff but Ill just say this:

Do you want to drive a car that you are buried in that you dont like or do you want to drive in a car that you are buried in that you do?

[Mbdurham17]

Originally Posted by desertfox73

Get the black CP one they have listed for $22k less.

No thanks it's got zero options besides it's not about the cost of the new car it's about the best way to get out of my current lease with the least amount of $ out of my pocket

[Mbdurham17]

Originally Posted by KoenG

Well, I have the impression you're already past doing something stupid. You apparently already did.

To what are you referring? Going over on lease miles? That's not stupid situations change. If I would have done a 45k lease like my last one I would be barely over mileage and for the the additional miles at inception the lease payment increase would have been only about $1000 less than the current mileage cost for where I am at. I did the math when I bought it and it was cheaper to actually pay for overage at the end than it was to work it into the lease albeit lump sum at the end rather than spread over the lease.

[Mbdurham17]

Originally Posted by Vic55

I can chime in with all kinds of stuff but Ill just say this:

Do you want to drive a car that you are buried in that you dont like or do you want to drive in a car that you are buried in that you do?

Haha good analogy

[desertfox73]

Originally Posted by Mbdurham17

No thanks it's got zero options besides it's not about the cost of the new car it's about the best way to get out of my current lease with the least amount of $ out of my pocket

Gotcha. I thought it was more about the overall cost (new car plus taking the hit from the lease).

In that case, my guess is the best way to get out of the lease with the least amount of damage is to just ride it out until the end.

What do you think would be the total number of miles on the current lease if you keep it all the way until the end?

[Mbdurham17]

Originally Posted by desertfox73

Gotcha. I thought it was more about the overall cost (new car plus taking the hit from the lease).

In that case, my guess is the best way to get out of the lease with the least amount of damage is to just ride it out until the end.

What do you think would be the total number of miles on the current lease if you keep it all the way until the end?

Yeah that's what I am trying to figure out the best deal on. I am ok with the car price could do without the individual color cost but my main concern is getting out of mine as cheaply as possible. I will probably end up about 60K - 65K if I don't do anything differently (drive my wife's car, buy a Jeep or truck which I need as my second car etc) to save miles so for my math I centered around the below:

Yep I agree keeping it until lease end and dealing with the mileage would probably be cheapest cash wise but since I am looking to buy and have it for awhile as my fun second car I am thinking differently

10 months lease payments with taxes of 14K which would go toward payoff of the new one since buying.
Estimated mileage charge at turn in on low end assuming a cant negotiate it out at that time anywhere from 9-10 K

So all in all trying to decide if it worth it to spend 17k now or 14k or possibly 24k over the next 10 months if I do have to pay all of the mileage


However if I wait I may be able to get a better deal on a 19 competition which would offset the mileage cost.

The payment albeit a good bit higher than my current lease payment is not far off what what I've seen many peoples lease payments posted for on here.

[BeamerandBimmer]

Originally Posted by Mbdurham17

To what are you referring? Going over on lease miles? That's not stupid situations change. If I would have done a 45k lease like my last one I would be barely over mileage and for the the additional miles at inception the lease payment increase would have been only about $1000 less than the current mileage cost for where I am at. I did the math when I bought it and it was cheaper to actually pay for overage at the end than it was to work it into the lease albeit lump sum at the end rather than spread over the lease.

Be sure to purchase your miles before the end of your lease at a discount. You used to be able to do it via the online portal but that option seems to have disappeared. I've done this on multiple leases and depending on the excess milage, it is actually(or used to be, before they jacked up the cost per mile recently) cheaper to buy the milage at the end because when you purchased them at the beginning it also affected the residual. For example, a 36/10 lease had a higher residual/lower payment and you would pay(used to be) $.20 per mile if purchased up front $.21 per mile if purchased before turning in the vehicle and $.25 per mile after turn in. I do this routinely as a sort of insurance policy. If I end up getting in an accident and the insurance company decides to to total the car then I end up ahead.(BMW provides GAP insurance on their leases)

I believe the current end of lease price per mile is $.30 and the discounted early purchase price is $.26 but couldn't find it on my account. You will have to call BMWFS to see if the early milage purchase discount still exists.

[BeamerandBimmer]

Originally Posted by Mbdurham17

Yeah that's what I am trying to figure out the best deal on. I am ok with the car price could do without the individual color cost but my main concern is getting out of mine as cheaply as possible. I will probably end up about 60K - 65K if I don't do anything differently (drive my wife's car, buy a Jeep or truck which I need as my second car etc) to save miles so for my math I centered around the below:

Yep I agree keeping it until lease end and dealing with the mileage would probably be cheapest cash wise but since I am looking to buy and have it for awhile as my fun second car I am thinking differently

10 months lease payments with taxes of 14K which would go toward payoff of the new one since buying.
Estimated mileage charge at turn in on low end assuming a cant negotiate it out at that time anywhere from 9-10 K

So all in all trying to decide if it worth it to spend 17k now or 14k or possibly 24k over the next 10 months if I do have to pay all of the mileage


However if I wait I may be able to get a better deal on a 19 competition which would offset the mileage cost.

The payment albeit a good bit higher than my current lease payment is not far off what what I've seen many peoples lease payments posted for on here.

If you decided to get another vehicle to keep the miles off the M5, don't forget to factor in the additional insurance cost as well.

Unfortunately, this discussion has got me thinking of doing the same thing.

I

MUST

RESIST

THE

URGE!

[Mbdurham17]

Originally Posted by BeamerandBimmer

Be sure to purchase your miles before the end of your lease at a discount. You used to be able to do it via the online portal but that option seems to have disappeared. I've done this on multiple leases and depending on the excess milage, it is actually(or used to be, before they jacked up the cost per mile recently) cheaper to buy the milage at the end because when you purchased them at the beginning it also affected the residual. For example, a 36/10 lease had a higher residual/lower payment and you would pay(used to be) $.20 per mile if purchased up front $.21 per mile if purchased before turning in the vehicle and $.25 per mile after turn in. I do this routinely as a sort of insurance policy. If I end up getting in an accident and the insurance company decides to to total the car then I end up ahead.(BMW provides GAP insurance on their leases)

I believe the current end of lease price per mile is $.30 and the discounted early purchase price is $.26 but couldn't find it on my account. You will have to call BMWFS to see if the early milage purchase discount still exists.

Thanks and yes that exactly what I noticed when reviewing the lease. It was cheaper to buy at the end if needed which is why I went that route. I also noticed the option to buy lease miles early is now not showing up since they updated their website.

[Mbdurham17]

Originally Posted by BeamerandBimmer

If you decided to get another vehicle to keep the miles off the M5, don't forget to factor in the additional insurance cost as well.

Unfortunately, this discussion has got me thinking of doing the same thing.

I

MUST

RESIST

THE

URGE!

Lol sorry yeah I know but want/need something else and that was in the plan anyway as I need something to haul bikes gear etc and keep the M as my sunny day fun car that I drive when I want to not have to

Don't resist the urge