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  #1  
Old 06-29-2012, 01:29 PM
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It's been nearly 3 years. My lease is almost up

Wow,

Can't believe it's been an entire lease term already.

Had a launch car. 36month term. Has 22,000 miles on it (allowence of 30k miles)

My buyout is $50k. Manheim wholesale has the X5M with my description listed between $65k-$68k. I'm not gonna keep the car but see no reason not to buy it out and flip it for $10k-$15k into my pocket..

Thoughts?
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  #2  
Old 06-29-2012, 08:25 PM
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Agree car is worth more than 50k with those miles. Would buy and either drive or sell, looks like you already paid half price in lease
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  #3  
Old 07-02-2012, 10:23 AM
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It may be harder to actually get the 65K than you might think.
Ask around to see what real world sales are going for.
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Old 07-02-2012, 01:05 PM
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Quote:
Originally Posted by vitaman View Post
It may be harder to actually get the 65K than you might think.
Ask around to see what real world sales are going for.

Dealer asking 65k is different than private seller asking 65k.
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Old 07-02-2012, 03:27 PM
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I'm in the same boat.. 33K miles, perfect condition, and have a new set of winter tires. My residual is stated at $50K.. even if BMW doesn't deal, it seems worth at least that.

I agree, probably not worth $65K in the real world as most people buying used $65K cars can afford new $90K cars. JMO.

Edit - the extended service program is +/- $2K for 2 additional years. The '6 year/100K' extended warranty is $4500. That means the actual residual value of said vehicle is about $57K... question is, is a used X5M with a platinum (virtually everything) worth more than say a new Tahoe or MDX?


FWIW, i was going to buy a full sized Range Rover supercharged.. $2100 a month w/ an absurd MF and 40% residual > 36 months. Uh, no.
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Old 07-03-2012, 06:50 AM
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Yo, B - just curious, what was the residual % on your lease?

And by the way for not answering my fb message. I guess I can't compete with that Hollywood Bachelor life
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Old 07-03-2012, 09:06 AM
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FWIW, my residual is 54%
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Old 07-03-2012, 11:38 AM
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Quote:
Originally Posted by B-Line View Post
Manheim wholesale has the X5M with my description listed between $65k-$68k. I'm not gonna keep the car but see no reason not to buy it out and flip it for $10k-$15k into my pocket..

Thoughts?
When did you check Manheim wholesale? Retail dealer prices on 2010 X5M in your state is $63k on cars.com.
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Old 07-03-2012, 11:31 PM
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worth more than $50k, but not $65 wholesale. I'd bet at $59,900 you would get some interest if you are willing to deal with selling it on your own. Personally, I hate, Hate, HATE selling cars though and dealing with all the BS. Plus in my state with the sales tax credit for trades, it really only costs me $2-3k for the convenience of trading in most cases vs. private sale.
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Old 07-09-2012, 12:49 PM
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I took one of my Porsche's at the end of the lease (two years with $3k miles) and sold it to one of the local, upscale used car dealers on spec..they paid off the lease and put $2k in my pocket...there are a ton of them down here, typically selling rough, worked-over high-end cars so mine was an easy flip for them...maybe there's someone local you can do the same with and put a few bucks in your pocket and not have to deal with all the BS...just gotta make sure they pay off BMWFS on time!
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