From a 3 Series to an X5...Early Lease Upgrade

MoreCowbell · 04-08-2007, 10:36 PM

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:::

BMW F22 · 04-08-2007, 10:39 PM

awesome man. The new X5 is great. I would get one but it's too much moolah. hehehe

'Cane · 04-08-2007, 10:48 PM

Expect to cough up some $$$.

theroyalwe · 04-08-2007, 10:48 PM

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.

speedyj88 · 04-08-2007, 10:55 PM

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.

MoreCowbell · 04-08-2007, 11:04 PM

Quote:

Originally Posted by speedyj88

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.

How could that be possible???

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?

'Cane · 04-08-2007, 11:08 PM

Quote:

Originally Posted by gluck75

You would figure you would get some knd of break for staying in the BMW family...no?

No.

Matto ELITE · 04-08-2007, 11:09 PM

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.

Good Luck!

theroyalwe · 04-08-2007, 11:12 PM

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.

MoreCowbell · 04-08-2007, 11:16 PM

Quote:

Originally Posted by 'Cane

No.

LOL

theroyalwe · 04-08-2007, 11:17 PM

Quote:

Originally Posted by Matto ELITE

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.

Good Luck!

I agree that kbb is always high... but he won't have access to manheim. the most accurate way would be to pay a few bucks and get a galves number... but most people don't want to pay anything to find out how much the value went down in the real world. I'm sure we can both agree that this one will have some inequity.

RyBMW · 04-09-2007, 12:11 AM

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.

AlpineWeiss335i · 04-09-2007, 07:29 AM

try leasetrader.com

Lassaxi · 04-09-2007, 09:52 AM

Quote:

Originally Posted by theroyalwe

I agree that kbb is always high... but he won't have access to manheim. the most accurate way would be to pay a few bucks and get a galves number... but most people don't want to pay anything to find out how much the value went down in the real world. I'm sure we can both agree that this one will have some inequity.

I don't think that's true. The last two cars I've traded fetched $500-$1000 over KBB value in trades. Condition, local demand, and good old fashioned negotiating can make a difference.

...not that that has anything to do with whether he'll have to pay to swap leases...

MoreCowbell · 04-09-2007, 10:47 AM

Any idea what the X5 leases for?

bimmerlex · 04-09-2007, 11:59 AM

Quote:

Originally Posted by gluck75

Any idea what the X5 leases for?

I just grabbed my 335i yesterday, and tried to shop for X5 for my wife. I was told that the new X5 runs around $750/month leased today, and they are not willing to go any down on the price for now.

theroyalwe · 04-09-2007, 01:27 PM

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

04-08-2007, 10:36 PM	#1
MoreCowbell Lieutenant Colonel 490 Rep 1,700 Posts Drives: 24 i5M60 23 X740 23 Vette Z06 Join Date: Feb 2006 Location: Westchester, NY iTrader: (0)	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:::
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04-08-2007, 10:39 PM	#2
BMW F22 Major General 3566 Rep 9,788 Posts Drives: ///M235i Join Date: Nov 2005 Location: Bay Area iTrader: (8)	awesome man. The new X5 is great. I would get one but it's too much moolah. hehehe
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04-08-2007, 10:48 PM	#3
'Cane Major General 8500 Rep 5,368 Posts Drives: 2022 Aventurin/SS G82 xDrive Join Date: Feb 2007 Location: South Florida iTrader: (0) Garage List 2022 M4 Comp AWD [8.00]	Expect to cough up some $$$.
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04-08-2007, 10:48 PM	#4
theroyalwe BMW CA 5 Rep 304 Posts Drives: MINI, all BMW's Join Date: Feb 2007 Location: SE PA iTrader: (0)	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
speedyj88 Private First Class 3 Rep 146 Posts Drives: 2006 M Roadster Join Date: Jan 2006 Location: Los Angeles iTrader: (0) Garage List 2006 330i [0.00]	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, 11:09 PM	#8
Matto ELITE BMW Client Advisor 8 Rep 98 Posts Drives: 2007 328ci Join Date: Mar 2007 Location: Bellevue iTrader: (0)	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. Good Luck!
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04-08-2007, 11:12 PM	#9
theroyalwe BMW CA 5 Rep 304 Posts Drives: MINI, all BMW's Join Date: Feb 2007 Location: SE PA iTrader: (0)	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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04-09-2007, 12:11 AM	#12
RyBMW Major 78 Rep 1,038 Posts Drives: X5 Join Date: Jun 2005 Location: NYC iTrader: (1) Garage List 2012 BMW X5 [0.00] 2008 335i [0.00]	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. __________________ New: 12 X5 xDrive35i Premium Alpine White/Cinn Brown Old: 08 E92 335i\|Space Gray/Coral Red/Gray Poplar Old: 06 E90 330i\|Black Sapphire/Black /Burl
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04-09-2007, 07:29 AM	#13
AlpineWeiss335i Private 11 Rep 95 Posts Drives: 328xi Join Date: May 2005 Location: Baltimore, MD iTrader: (0) Garage List 2008 BMW 335 [0.00]	try leasetrader.com
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04-09-2007, 10:47 AM	#15
MoreCowbell Lieutenant Colonel 490 Rep 1,700 Posts Drives: 24 i5M60 23 X740 23 Vette Z06 Join Date: Feb 2006 Location: Westchester, NY iTrader: (0)	Any idea what the X5 leases for?
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04-09-2007, 01:27 PM	#17
theroyalwe BMW CA 5 Rep 304 Posts Drives: MINI, all BMW's Join Date: Feb 2007 Location: SE PA iTrader: (0)	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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