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BMW 3-Series (E90 E92) Forum
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From a 3 Series to an X5...Early Lease Upgrade
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04-08-2007, 10:36 PM | #1 |
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From a 3 Series to an X5...Early Lease Upgrade
I am currently in the 13th month of a 24 month lease on a 2006 330i(ZPP, Nav, Heated Seats, Step) and I have a great deal...$454 month, inclusive of taxes. I get 10k miles per year, but only have 8000 miles on the car.
My dilemma is that now I need a larger car and want to get an X5. Is there anyway BMW will allow me to trade up now rather than waiting? Will BMW work out something with me because I am staying in the BMW family? I'd rather not sublease the car... Thanks in advance... :::I have perfect payment history and perfect credit if this helps::: |
04-08-2007, 10:48 PM | #3 |
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Expect to cough up some $$$.
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04-08-2007, 10:48 PM | #4 |
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try calling BMW finance and getting your payoff. after that go to kbb and get the trade in value for the car. most likely you are still upside down and will have to pay out to switch.
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04-08-2007, 10:55 PM | #5 |
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My family was about to do this exact trade up (same time frame too). You will probably lose around 5k to get out of your lease.
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04-08-2007, 11:04 PM | #6 | |
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I have 10 payments left x $454 per payment... That means $4500 in payments left. You would figure you would get some knd of break for staying in the BMW family...no? |
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04-08-2007, 11:08 PM | #7 |
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04-08-2007, 11:09 PM | #8 |
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You'll get a break by not having to pay the security deposit when you lease the X5. DO NOT use KBB to get a trade-in value for your vehicle, they're unrealistic, and never remotely close to what you'll get. Dealers usually use Manheim Auction Reports, which will represent the last 30 days of auto buying, and what 2006 330i's with similar mileage went for. If they wanted your car in the first place, they could buy it for that amount.
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04-08-2007, 11:12 PM | #9 |
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sure... you won't have to pay another security deposit.
unfortunately there really isn't anything that a dealer or bmw can do special for you. the car depreciates the most in the first year or so... if your residual is 63% over 24 months you can expect it to drop around 40 in the first year, 15 in the next 6 months and 8 in the last 6 months. these are just rough numbers, but that's how it goes. what you need to do is get your payoff and then find out how much you can get for your car. you'll do better if you can private sale it because you'll get a few grand more and that may bridge the gap a bit. I suspect that you'll have to pay out no matter what, but perhaps selling it and paying it off will cost you less than just not driving the car for the balance of the lease. FWIW you can typically pull-ahead on the lease when you are within 4 months of the end... meaning you can get out at that point without costing money.
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04-08-2007, 11:17 PM | #11 | |
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Quote:
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04-09-2007, 12:11 AM | #12 |
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Since you're in NYC, the dealers around the tri-state area use Galve's for trade-in value.
I'm also looking to get the X5 when my lease is up.
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04-09-2007, 07:29 AM | #13 |
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try leasetrader.com
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04-09-2007, 09:52 AM | #14 | |
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...not that that has anything to do with whether he'll have to pay to swap leases...
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04-09-2007, 11:59 AM | #16 |
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04-09-2007, 01:27 PM | #17 |
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the advertised rate for an x5 for this month is:
3.0 equipped with premium package and heated seats (51,225) 2850 down plus fees (around 4200 due at signing) 36 month term, $639 plus tax
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