[SW335]

Folks:

My lease ends on June 17th. I love my car, but would love a coupe slightly more. I really don't have $ to invest in a depreciating asset. So here are my options:

1) Extend the Lease 12 months. Gets me a lower payment, as the value of the car is down vs. new. Currently at $702 with tax.

2) Try to purchase the car. The residual is at $35K. I called BMWFS and they said that they don't negotiate on the price of buyout, that the dealer does. Is this true?? I'm not paying 35K for this car, i could get a sedan for 3 or 4 less with CPO.

3) Get MY CAR a CPO 6mt grey coupe with all options and nav. Might be a bit hard to find, and likely to cost me about 35k--the exact cost of my sedan. Oh, and then I start modding, which is alwasy an issue with the wife.

I'm really interested in learning what bargaining power I now have and what the real story is and who I negotiate with.

TIA

[chrisE92]

Originally Posted by SW335

2) Try to purchase the car. The residual is at $35K. I called BMWFS and they said that they don't negotiate on the price of buyout, that the dealer does. Is this true?? I'm not paying 35K for this car, i could get a sedan for 3 or 4 less with CPO.

this is true; you negotiate with the dealer. Contact a sales rep at your dealer or the lease porfolio manager and have them look up the current buyout. With the current state at the economy, I'm certain it'll be less than your $35k residual. If they're giving you numbers that are higher, go to another dealer.

In fact, if you're around Long Beach, hit up Will@longbeachbmw at (818) 441-8813... he's a great guy. Mention that you heard about him from e90post and he'll treat you like a king! Got me in and out within an hour. My residual was about $30k, and Will got it for me for about $24k. Some members on here have reported better savings, but I was happy with mine.

So once your dealer gives you the updated buyout, you can go from there. Keep in mind that they won't be able to look up your current buyout until the last 3 months of your lease. Good luck!

[chrisE92]

Also, if you're looking to extend your lease by 12 months, but really want a coupe, I'd suggest taking over someone else's lease. I don't think BMW will let you extend a lease for that long. They usually limit that to 2 months, and that's if you have another car on order.

Of course, you could re-lease the car you currently have (new residual, different rates) but I've been told that's a very bad idea. You can ask your dealer for more info on that.


But taking over someone else's lease may suit you perfectly if you only want another 12 months, and you're looking for a coupe. I'm sure there are plenty of incentives that you may receive, especially from those who are looking to get rid of their cars FAST.

[JSpira]

Originally Posted by SW335

1) Extend the Lease 12 months. Gets me a lower payment, as the value of the car is down vs. new. Currently at $702 with tax.

How exactly do you figure the lease will be lower on a release? I would wager it will be up substantially.

[blue2fire]

Originally Posted by SW335

1) Extend the Lease 12 months. Gets me a lower payment, as the value of the car is down vs. new. Currently at $702 with tax.

The payment will go up, you are only paying for the depreciation right now. The payment actually depends on the length of the loan term but iam reasonably certain it will be higher if the term is 40 months or less.

[VMRWheels]

If extending isn't the option, its probably better to let the car go, and buy the cheaper CPO. After all, the CPO warranty goes up to 100k and you have to factor in the value in that.

But, with the economy changing as much as it does, the situation might be different come summer, so even if you have a decision set today, in the summer you'll have to think it over again.

[SW335]

I think the extended lease would be lower as the basis from which the lease derives is lower, as the car is now the residual value rather than the purchase price. If its not lower, then I easily walk away.

[Firedog335i]

[blue2fire]

Originally Posted by Firedog335i

Wat?

[bostonrussian]

Originally Posted by SW335

Folks:

My lease ends on June 17th. I love my car, but would love a coupe slightly more. I really don't have $ to invest in a depreciating asset. So here are my options:

1) Extend the Lease 12 months. Gets me a lower payment, as the value of the car is down vs. new. Currently at $702 with tax.

2) Try to purchase the car. The residual is at $35K. I called BMWFS and they said that they don't negotiate on the price of buyout, that the dealer does. Is this true?? I'm not paying 35K for this car, i could get a sedan for 3 or 4 less with CPO.

3) Get MY CAR a CPO 6mt grey coupe with all options and nav. Might be a bit hard to find, and likely to cost me about 35k--the exact cost of my sedan. Oh, and then I start modding, which is alwasy an issue with the wife.

I'm really interested in learning what bargaining power I now have and what the real story is and who I negotiate with.

TIA

You have almost no bargaining power. You paid handsomely for the privilege of being able to walk away from a car at the end of your lease. The risidual value + what you paid is insanely higher than what the car was worth in the beginning. The dealership can turn around and resell this car as certified pre owned. They have ALREADY made their money on you - remember that. Had you decided to risk it and financed the car, even with the slightly higher monthly payment you would have still put a sizeable dent into the principal and would now be able to trade in for something way better even with the leftover debt and the shoddy trade-in value.