Trading in a financed '15 M4 for a 2017 lease?

[Blessed]

I'm thinking about trading in my financed 2015 M4 for a new (2017) leased M4.

I put a bunch of money down when I bought my car, but I don't see any value in doing so. Considering I don't plan on keeping the car any longer than a few years, I'm trying to pocket as much of my down payment as I can, whilst getting a new car.

Anyone have any experience with this?

I still owe ~$26.9k (41 more payments of ~$650) on my current loan.

Ideally, I would trade in my car, pay off the loan, and pocket the change. Obviously, I'd like that "change" to be as close to my down payment as possible.

Thoughts?

[f80NJ17]

Originally Posted by Blessed

I'm thinking about trading in my financed 2015 M4 for a new (2017) leased M4.

I put a bunch of money down when I bought my car, but I don't see any value in doing so. Considering I don't plan on keeping the car any longer than a few years, I'm trying to pocket as much of my down payment as I can, whilst getting a new car.

Anyone have any experience with this?

I still owe ~$26.9k (41 more payments of ~$650) on my current loan.

Ideally, I would trade in my car, pay off the loan, and pocket the change. Obviously, I'd like that "change" to be as close to my down payment as possible.

Thoughts?

You must of put alot down to just owe 26k. You can probably find someone to take it for 50k I guess. Not sure if you will be able to get all the money you invested but better get rid of it as soon as you can before the new M4 comes out, and it will be very difficult to get top dollar. Good luck

[mercedesc63]

Originally Posted by Blessed

I'm thinking about trading in my financed 2015 M4 for a new (2017) leased M4.

I put a bunch of money down when I bought my car, but I don't see any value in doing so. Considering I don't plan on keeping the car any longer than a few years, I'm trying to pocket as much of my down payment as I can, whilst getting a new car.

Anyone have any experience with this?

I still owe ~$26.9k (41 more payments of ~$650) on my current loan.

Ideally, I would trade in my car, pay off the loan, and pocket the change. Obviously, I'd like that "change" to be as close to my down payment as possible.

Thoughts?

How many miles? What options do u have? How is the condition? How big was your down payment?

[Blessed]

~17.5k miles

Minimum options (wheels, sound system, 6MT, CF roof). No exec package, no lighting package

Literally spotless on the inside and out

Down payment was about $31.5k

[saleen556]

I would sell it outright. Youll recoupe more cash.

[mercedesc63]

Originally Posted by Blessed

~17.5k miles

Minimum options (wheels, sound system, 6MT, CF roof). No exec package, no lighting package

Literally spotless on the inside and out

Down payment was about $31.5k

Your car should be worth around 53-54k if it is actually how u described it.

I would never recommend trading a car in for what is essentially the same car. Just because it's a waste of money and the current model isn't better.

However since your car is such low option if you wanted to sell/trade it in you wouldn't be taking the biggest loss ever.

[Blessed]

Originally Posted by mercedesc63

Your car should be worth around 53-54k if it is actually how u described it.

I would never recommend trading a car in for what is essentially the same car. Just because it's a waste of money and the current model isn't better.

However since your car is such low option if you wanted to sell/trade it in you wouldn't be taking the biggest loss ever.

Thanks for the reply. I think at this point, if I got rid of it for low 50s, I would lose around $4-5k after paying off the loan. I might just ride the wave and trade it in after my loan is paid off (~3.5 years). I'm hoping I can get ~30k for it in 3.5 years.

Thanks again

[mercedesc63]

Originally Posted by Blessed

Thanks for the reply. I think at this point, if I got rid of it for low 50s, I would lose around $4-5k after paying off the loan. I might just ride the wave and trade it in after my loan is paid off (~3.5 years). I'm hoping I can get ~30k for it in 3.5 years.

Thanks again

53-54 isn't too bad and right now you will get more value for your car now than later due to its age.

But I am 100% with you on keeping it, I am selling my 16' soon with 15-16k miles on it. I am waiting for the new 2021 M3 now. If I was u I would forget upgrading to a 17'or 18' or 19' or even 20'.