Advice on purchase after lease

[emm2x]

Hi - my lease is up in 3 months and I was wondering if any of you have any experience in purchasing the vehicle after the lease? I love the e53 shape compared to the E70 - even compared to the 4.8! I think its more beefier and doesnt look like a resized X3. (my opnion)

Any advice on what I should look out for before purchasing?

Thanks in advance!

[mrkbbd]

you have to give some more information (like residual, miles, what your payment has been, condition of the car, how you drove the car, etc etc). In my experience with leased cars I tend to treat them a little rougher than than a car that is "mine" because it makes no difference to me at the end as long as it makes it to 36000 miles whereas a car that I own I want to get it to 100k

[emm2x]

Thanks mrkbbd.

My payment monthly has been roughly around $670. And i believe the residual value (what i saw on paper) is around $38k. I drove X like a baby and without exaggerating.......the condition is flawless - from exterior to interior. Garage kept and detailed every other week. Its an 05 4.4i.

[mrkbbd]

you then may want to seriously consider buying it then and you have to take into account that the residual can be negotiated / you might get them to throw in the 100k mile warranty

[dzhoka]

if you acurate owner ..you know everything about this car..I would say go for it and Buy it !

[emm2x]

Thanks guys...the input helped me alot!

[sprocket1200]

make sure you negotiate hard on the price. 05 4.4 are going for alot less...

you could pick one up and do a lot of repairs for 38K

[andrewmr]

Originally Posted by emm2x

Thanks mrkbbd.

My payment monthly has been roughly around $670. And i believe the residual value (what i saw on paper) is around $38k. I drove X like a baby and without exaggerating.......the condition is flawless - from exterior to interior. Garage kept and detailed every other week. Its an 05 4.4i.

Find out what these cars are selling for at auction and then you have a starting point for a sales price negotiation. They will most likely ship it off to be sold and they'll incure fees in doing so. If the value is less than the residual you might be able to get them to sell it for less.

[Boston X5 4.4]

Originally Posted by andrewmr

Find out what these cars are selling for at auction and then you have a starting point for a sales price negotiation. They will most likely ship it off to be sold and they'll incure fees in doing so. If the value is less than the residual you might be able to get them to sell it for less.

Good advice - and if you decide to keep it make sure the dealership gives you CPO coverage for no additional cost.
The dealership will say that the CPO process costs them money, but in most cases its a cursory look around the car and under the hood to see if anything is obviously falling off (if you are lucky), run the key to see that all scheduled maintenance is up to date, and a run through the car wash.

[fs_wheel]

Originally Posted by emm2x

Thanks mrkbbd.

My payment monthly has been roughly around $670. And i believe the residual value (what i saw on paper) is around $38k. I drove X like a baby and without exaggerating.......the condition is flawless - from exterior to interior. Garage kept and detailed every other week. Its an 05 4.4i.

Agree with the comments about finding out what they are going for at auction, or go in and see what they will give you on a trade to get some idea. Typically, residuals are below anticipated retail when the lease is up, this one sounds like it is at or above retail - depends on options, milage, etc. Sounds like if you turn it in, they are upside down.

I bought my E34 before the end of my lease and got it below residual from BMW. Retail was some $5-8k above the residual, so they could have made some $$'s, but not much. IMHO think you have a good negotiating position and would go for it.