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#1
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It's been nearly 3 years. My lease is almost up
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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---------------------------------------------------------- "When two people agree on everything, one of them is not necessary" - Arliss |
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#2
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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
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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. |
#4
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Quote:
Dealer asking 65k is different than private seller asking 65k. |
#5
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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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Go 50i or go home Last edited by HIRISC; 07-02-2012 at 04:07 PM. |
#6
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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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Current: 2016 X6 ///M Black Sapphire Metallic |
#7
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FWIW, my residual is 54%
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Go 50i or go home |
#8
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When did you check Manheim wholesale? Retail dealer prices on 2010 X5M in your state is $63k on cars.com.
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#9
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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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2013 Cayenne GTS Basalt Black/Alcantara (Wife's Daily Driver) 2013 Porsche 911 cab Aqua over pebble and agate (My daily driver) 2010 Porsche GT3RS Black Grey/Black Alcantara (Track car) 2012 Porsche CaymanR Peridot Green with carbon sport buckets (Wife's Track car) |
#10
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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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