[JPBB]

I'm looking to trade in my 545i (which I own) and lease a new E93. Assuming my car is worth $30K, will a dealer allow me to sell my car, apply say $2K of the proceeds to bank fees, sec deposit, etc. and pocket the $28K left over?

Apologies if this is a dumb question, but I've never traded in a car before.

Thanks in advance for your help.

[matt_435xi]

never heard of that, but what you could do is trade in your 545i and never make lease payments for like 30 months. its like you are paying all your lease payments up front.

dealers are very negotiable when you pay all payments up front, although this is my experience when paying cash.

[JPBB]

Thanks Matt. That's one option, but I'd like to get my hands on some of the cash if possible.

[e30klassic]

It really depend on the dealer, some dealer are willing to buy ur 545I for cash as trade in or used car and try to lowball you b4 they cut u a check. It's better off sell it by urself then head out for ur new E93.

Just my 2cents, hopt thiz help.

[matt_435xi]

Originally Posted by JPBB

Thanks Matt. That's one option, but I'd like to get my hands on some of the cash if possible.

i guess you don't want lease the e93 and sell your 545i privately?

[JPBB]

I am planning to lease the E93, but was thinking that private sale will be difficult or take too much time. One dealer told me they would cut me a check for my E60 and lease me the E93, but this is not the dealership I am buying from at this stage due to timing.

I got lucky and slid into an E93 that someone walked from. I'm only waiting a week - I feel bad for everyone else who needs to wait like I did for my ED on the E60.

I should be rolling out with my Space Grey Metallic 335i cabrio next Thursday!

[John 070]

Originally Posted by e30klassic

It really depend on the dealer, some dealer are willing to buy ur 545I for cash as trade in or used car and try to lowball you b4 they cut u a check. It's better off sell it by urself then head out for ur new E93.

Just my 2cents, hopt thiz help.

Of course, it would be like going to a foreign country, exchanging money, not spending it, and exchanging it back to USD. You'd lose double on any unspent foreign currency.

I think what people should conceptualize is if there are a lot full of cars that have been there for 5 mos. and have little prospect of being sold, out come the deep discounts, zero percent financing, incentives, etc. It's just not the case with BMW, so dealerships make maximum profits taking a trade, and selling or leasing a vehicle. Any customer who falls into the above scenario is paying hefty on both transactions. Private sale is a way to lessen the blow, but if no time or no want, then just pay. Sometimes the convenience is worth more than the money, especially given that there are people here who are wealthy.

[GTownUDM]

Originally Posted by JPBB

I'm looking to trade in my 545i (which I own) and lease a new E93. Assuming my car is worth $30K, will a dealer allow me to sell my car, apply say $2K of the proceeds to bank fees, sec deposit, etc. and pocket the $28K left over?

Apologies if this is a dumb question, but I've never traded in a car before.

Thanks in advance for your help.

If the dealer won't do it third party lease companies like ProLease will. IMO an even better option is to sell the car to a place like CarMax, they will probably give you a better price than the dealer.

[STE92VE]

If you want to get your hands on cash, sell your car privately. You will get a higher price for it than what a dealer would offer you.