Should I buy her out?

fizzerd · 11-26-2010, 02:38 PM

Shes from '07. Residual is $27k and 65k on the clock. I would have to get a bank loan to have her.

She's already been in an accident but there was no frame damage. Half the car was painted and two right doors were replaced.

CPO's with same mileage and year are being sold for about $30k and I plan to keep her for next 8 years if I do buy her out.

Im in love..Opinions please..

MRQturbo · 11-26-2010, 02:55 PM

if you love the car..keep her...but for that buyout..u can get a 335....

tmo24 · 11-26-2010, 03:06 PM

Quote:

Originally Posted by MRQturbo

if you love the car..keep her...but for that buyout..u can get a 335....

I agree. Unless you did mods and personalized it beyond being able to let it go for another one, then I know for a fact that you can get the same car cheaper and even a 335i for cheaper, depending on options. I recently picked up a jet black 07 335i e90 6MT with 40k on the clock for $21k. But it was stripped with no nav, no sport, no bluetooth etc. I was looking at a few that had sport and premium package with 40k miles for $25k or less. Just do some research at different dealerships and even autotrader. Good luck.

SGxi · 11-26-2010, 03:07 PM

I doubt it can last for another 8 years without major repairs.

ryanful · 11-26-2010, 05:33 PM

Let it go.

With the known accident history, who knows how the finish is going to stand up over time.
Nothing drives me nuts more than dull/mismatched paint do to low quality repair.

Plus for the $$$, you can do better. Buy a CPO for the extended warranty.

TheRox · 11-26-2010, 06:49 PM

wow they really screw you guys with leases, on the residuals.

Rome · 11-26-2010, 07:29 PM

^

o yah, give her back !

Mr. ///M3 RD · 11-26-2010, 07:41 PM

I would get another one and forget about the accident. Then that's just me. I had a similar situation in 2004, traded in my 2001 Mercedes (I hit a dear with it, it came out of nowhere).

Traded it in for a new car, I still drive it as my family car. I would lease another one and purchase one once I am ready to do so in cash. Or find a nice used one for a good price one that was returned with low milage by a careful driver. I find it best to get to know the sales guy, let him know you are in the market. What do you think?

fizzerd · 11-26-2010, 09:13 PM

Thanks for the advice..i'll just get some used tires and return her..

BRAISKI · 11-29-2010, 04:28 PM

Quote:

Originally Posted by SGxi

I doubt it can last for another 8 years without major repairs.

328 might last longer than the 335

montreal red · 11-29-2010, 04:35 PM

give her back. thats the whole point of leasing a car --- so u can give it back and get another one at the end of the lease.

only1 · 11-29-2010, 04:56 PM

Quote:

Originally Posted by montreal red

give her back. thats the whole point of leasing a car --- so u can give it back and get another one at the end of the lease.

agreed. Bmw ends up owning you after a few years.

The residual on my 09 335 is only 24,xxx and thats after a 3 1/2 year term with freight and pdi down.

Doctor T · 11-29-2010, 05:54 PM

If the accident really wasn't bad, I'd buy it out.

veightkiller · 11-29-2010, 06:17 PM

id say bring her back aswell for the amount of buyout its not worthy.

fizzerd · 11-30-2010, 11:02 AM

Quote:

Originally Posted by Doctor T

If the accident really wasn't bad, I'd buy it out.

Accident caused damaged to two doors which were replaced and one whole side of car was repainted. Work was done at a bmw dealership but who knows how long the work would last.

Should I buy it out if I plan to run it down?

dpwr · 11-30-2010, 11:16 AM

Quote:

Originally Posted by fizzerd

Accident caused damaged to two doors which were replaced and one whole side of car was repainted. Work was done at a bmw dealership but who knows how long the work would last.

Should I buy it out if I plan to run it down?

look at the trader.ca, is your buyout price equal or lower to what it sells for not cpo? if it is, and you want to run it down, i'd say buy it out.... by having it 3-4 years after the buyout you will lower your overall monthly payments for when you leased by a good amount

Doctor T · 11-30-2010, 02:27 PM

Quote:

Originally Posted by fizzerd

Accident caused damaged to two doors which were replaced and one whole side of car was repainted. Work was done at a bmw dealership but who knows how long the work would last.

Should I buy it out if I plan to run it down?

I was kind of in a similar situation so I can totally empathize with you. But I was in a more serious accident $$$. Mine was an '06 E90 325i and the residual value was quite a bit higher than what it was really worth. I loved the car, but it made more sense for me to return it and in effect, let BMW take the loss. Had the car not been in an accident, I would've kept it, mainly because I was tired of having new car payments all the time and I knew the history of the car.

At the same time, as others have said, you may be able to get a used 335i for the same price or less. But don't forget, your 328i will likely be more reliable.

On the the other hand, you know the history of car and you took care of it - so it may be worth more to you than it's actual market value.

At the end of the day, it's a very personal decision that only you can make.

SGxi · 11-30-2010, 06:41 PM

Quote:

Originally Posted by BRAISKI

328 might last longer than the 335

Well, it might, but I already spent over 2k on repair on my 328.

Two failed door lock actuators
Leaky transmission sensor/seal

Regular maintenances aside, I do not expect these to fail within 100k. Door locks right at 100k, transmission leak at 80k.

aspiring335 · 12-01-2010, 12:39 AM

Quote:

Originally Posted by TheRox

wow they really screw you guys with leases, on the residuals.

How are they screwing anyone? By definition if the buyout is higher, the payments have been lower, and vice versa. If his buyout was lower, he would have spent exactly the difference in higher payments for the term of the lease.

Slalom · 12-02-2010, 08:56 AM

I would let the car go. Luxury brands lease more than they finance or sell at cash. I suspect that BMW has been setting high residuals knowing that they will take a loss there - but they do not want to discount the sticker price. It means that your monthly payment is lower (lower amount of capital that you are paying back).

The prices that they are getting for the cars at auction are much lower than these residuals. Part of that is that BMW FS is amortizing options at the same rate as the vehicle but much of it is just a hidden "discount". Remember many options do not hold any value at wholesale.

I turned in my X5 at the end of its lease. Residual was 59k, auction values were 52K.

11-26-2010, 02:38 PM	#1
fizzerd Captain 37 Rep 714 Posts Drives: 328i Join Date: May 2007 Location: Canada iTrader: (11)	Should I buy her out? Shes from '07. Residual is $27k and 65k on the clock. I would have to get a bank loan to have her. She's already been in an accident but there was no frame damage. Half the car was painted and two right doors were replaced. CPO's with same mileage and year are being sold for about $30k and I plan to keep her for next 8 years if I do buy her out. Im in love..Opinions please..
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11-26-2010, 02:55 PM	#2
MRQturbo Captain 20 Rep 902 Posts Drives: 91 MR2 turbo....07 335i... Join Date: Oct 2008 Location: Toronto iTrader: (0)	if you love the car..keep her...but for that buyout..u can get a 335.... __________________ 91 MR2Turbo....07 335i....
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11-26-2010, 03:07 PM	#4
SGxi Major General 158 Rep 6,805 Posts Drives: E90 328xi Join Date: Oct 2006 Location: Toronto iTrader: (17) Garage List 2007 328xi [0.00]	I doubt it can last for another 8 years without major repairs. __________________ MY07 A22 E90 N52Nxi
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11-26-2010, 05:33 PM	#5
ryanful Second Lieutenant 51 Rep 200 Posts Drives: 16 X5,06 e91 325ix,03 Mini R50 Join Date: Jan 2010 Location: Vancouver iTrader: (2) Garage List 2016 BMW X5 xDrive3 ... [0.00] 2006 BMW 325xiT WAGON [0.00] 2009 BMW 128i Conve ... [0.00]	Let it go. With the known accident history, who knows how the finish is going to stand up over time. Nothing drives me nuts more than dull/mismatched paint do to low quality repair. Plus for the $$$, you can do better. Buy a CPO for the extended warranty.
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11-26-2010, 06:49 PM	#6
TheRox Colonel 119 Rep 2,312 Posts Drives: 6mt Join Date: Oct 2009 Location: Here and there iTrader: (2)	wow they really screw you guys with leases, on the residuals.
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11-26-2010, 07:29 PM	#7
Rome :)))))) 26 Rep 577 Posts Drives: reckless Join Date: Aug 2009 Location: Toronto iTrader: (1)	^ o yah, give her back ! __________________ 2007 BMW 328i -
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11-26-2010, 07:41 PM	#8
Mr. ///M3 RD Happy Camper 613 Rep 7,869 Posts Drives: C63 AMG & 280 SL on Weekends : Join Date: May 2010 Location: GTA, Ontario - Canada iTrader: (0) Garage List 1969 Restored Merce ... [7.50] 2011 M3 Coupe TRADED [7.34] 1987 BMW 535is [1.00] Cars from the Past [6.50] The ///M3 Engine S65 [9.59]	I would get another one and forget about the accident. Then that's just me. I had a similar situation in 2004, traded in my 2001 Mercedes (I hit a dear with it, it came out of nowhere). Traded it in for a new car, I still drive it as my family car. I would lease another one and purchase one once I am ready to do so in cash. Or find a nice used one for a good price one that was returned with low milage by a careful driver. I find it best to get to know the sales guy, let him know you are in the market. What do you think? __________________ Cheers, Rolf-Dieter Life will take us to some interesting places, fortunately The ///M3 will too with a many of us know this very well, now my C6.3 AMG with 487 HP does it too ---> Click here for some good stuff I found
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11-26-2010, 09:13 PM	#9
fizzerd Captain 37 Rep 714 Posts Drives: 328i Join Date: May 2007 Location: Canada iTrader: (11)	Thanks for the advice..i'll just get some used tires and return her..
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11-29-2010, 04:35 PM	#11
montreal red chris 278 Rep 12,144 Posts Drives: White Boat Join Date: Jun 2007 Location: Toronto iTrader: (31)	give her back. thats the whole point of leasing a car --- so u can give it back and get another one at the end of the lease. __________________ Current: 2013 F10 M5 & 2016 Mini JCW 2013 GLK350 (gone), 997.1 GT3RS (gone), 2009 WRX STI (gone), e92 M3 (gone)
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11-29-2010, 05:54 PM	#13
Doctor T Second Lieutenant 11 Rep 206 Posts Drives: EB 430i xDrive, AW E90 LCI M-S Join Date: Jul 2010 Location: Toronto, ON, Canada iTrader: (0)	If the accident really wasn't bad, I'd buy it out. __________________ my car
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11-29-2010, 06:17 PM	#14
veightkiller Brigadier General 61 Rep 4,150 Posts Drives: e90 335i Join Date: Dec 2007 Location: Vancouver,B.C iTrader: (3)	id say bring her back aswell for the amount of buyout its not worthy.
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12-02-2010, 08:56 AM	#20
Slalom Major 509 Rep 1,345 Posts Drives: 04 Z4, 18 X3 M40i Join Date: Nov 2010 Location: Ottawa and Collelongo (AQ) Italy iTrader: (0) Garage List 2004 Z4 [0.00] 2018 BMW X3 M40i [10.00]	I would let the car go. Luxury brands lease more than they finance or sell at cash. I suspect that BMW has been setting high residuals knowing that they will take a loss there - but they do not want to discount the sticker price. It means that your monthly payment is lower (lower amount of capital that you are paying back). The prices that they are getting for the cars at auction are much lower than these residuals. Part of that is that BMW FS is amortizing options at the same rate as the vehicle but much of it is just a hidden "discount". Remember many options do not hold any value at wholesale. I turned in my X5 at the end of its lease. Residual was 59k, auction values were 52K.
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