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12-03-2021, 11:13 AM | #1 |
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Got a call from my local BMW Dealer about selling my car
There's not really any point to this thread.... just finally had some free time after an insane couple weeks of work so figured I'd post what's going on in my life.
I got a call from my local BMW dealer about purchasing my leased M340i and getting me into an M3. The value of my car was ~$54k pending inspection, and current lease-buyout is ~$50k (So basically $4k in equity). My comment was - that's great.... but I'd be getting screwed on the other end due to lack of discount and incentives. M3s are going for MSRP at best right now, with allocations not available till the spring at the earliest, and the only incentive is $500 loyalty. The sales guy says, "sounds like you want to have your cake and eat it too". Damn straight. Anyway, I'll probably just wait till my lease ends in October 2022 and re-evaluate... maybe with hopes that pricing begins to normalize by next summer.... who knows...
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12-03-2021, 11:30 AM | #2 | |
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12-03-2021, 11:31 AM | #3 | |
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$3k in incentives ($1k loyalty and $2k lease cash) 61% residual for 12k miles 10% discount With the M3 I'd be looking at: $500 in incentives (loyalty only) 57% residual for 10k miles 0 discount
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12-03-2021, 11:31 AM | #4 |
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Similar.. back in Aug after my final free oil change/service on my 2017 340i Msport 6MT with MPPSK, I got a call from the dealership wanting to buy it back for what I bought it for CPO a year ago.
They had absolutely nothing to offer in return with manual transmission other than an overpriced 2015 M4. |
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12-03-2021, 10:16 PM | #6 |
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Well to be fair I think MOST people actually aren't able to analyze/negotiate, especially in the heat of the moment. Most consumers aren't very knowledgeable in this area, and that's how they get taken advantage of.
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12-04-2021, 12:30 AM | #8 |
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Im in the same boat. I don't think prices are going to normalize for a while. The dealers are now hooked on msrp deals and are making a mint in this environment.
So, i took the 4k in equity they offered on my expired.0.45% lease to buy something new. Better to get some equity vs buying out a lease that is $5k under water in a typical market. Im putting half down and planning to keep the car a little longer so it still feels like a lease from a payment perspective. We just got an offer on my wife's x3 for 7k over buyout while her 0.8% lease expires in August. Thinking hard about taking it as that plus 2k from penfed and .5k loyalty, 9.5k off a 60k replacement is a solid deal, even in a normal market. These are strange times, but while the market may or may not normalize soon, rest assured that bmw will continue increasing prices and/or decontenting their offerings to keep up with inflation and lending rates are likely to move up as well. |
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12-04-2021, 07:18 AM | #9 | |
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There's another issue that I'd have to consider. If I order a car now, it'll be several months before it's delivered. That gap in months (where I would need to keep my car because.... I need a car) would expose me to risk. If I get into a car accident between now and when I'm supposed to take delivery of the new car, even a fender bender, that'll diminish the resale value of the car. I have PTSD because this exact scenario happened when we had ordered our X5... literally a month before delivery my wife got into a fender bender in the RX and that knocked $1k off the resale value.
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12-04-2021, 10:13 AM | #10 |
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12-04-2021, 10:22 AM | #11 |
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He was generally a nice guy so I didn't really respond to that comment.. but yeah....
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12-05-2021, 07:02 AM | #13 | |
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Or in my case, from 2 to 1 car. Traded in x3 and x6 for new x3. |
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12-05-2021, 07:07 AM | #14 | |
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My insurer use to offer 5 yr replacement cost insurance. Now only three years. |
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12-05-2021, 07:11 AM | #15 | |
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I think I'll most likely hold on to both cars till end of lease... have about 10 months to go on both.
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12-05-2021, 09:14 AM | #16 |
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12-08-2021, 05:33 PM | #17 |
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I received a call from my dealer about another customer wanting to buy my M2 CS. I declined to enter negotiations.
Problem is that I want a GT3, GT4 RS, or even upcoming GT3 RS but can’t get an allocation for any of them. Considering keeping M2 CS and saving up for a 992 911 Turbo S or even M4 CSL. |
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12-08-2021, 06:57 PM | #18 | |
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12-08-2021, 09:46 PM | #19 | |
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Which is why I’m considering a 992 911 Turbo S, 992 911 GTS, or even M4 CSL. I’m afraid of giving up my M2 CS so will look to add to M2 CS. Let me know what car you think makes the most sense. I think Turbo S may be closest to GT cars. However, Turbo S is also the most expensive so I will have to save for a year plus for decent down payment since I am adding to M2 CS and not replacing it. |
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12-08-2021, 10:27 PM | #20 | |
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GT4rs right now are easily going for $125k OVER MSRP.... so you're looking at $250k-$300k range if you can get one.
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12-15-2021, 03:03 PM | #21 | |
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BTW: Today, the delivery specialist has only seem 1 touch screen delete, X5. |
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