Anyone have any insight into a Dealer offerring to buy back your vehicle?

[Tae]

Hey all,

I don't post too often but I am an active lurker. Anyways, I just got a call from my dealer saying he has two buyers looking into purchasing a vehicle similarly equipped as my '08 X5. Says he can get me into an '09 w/no $$$ out of pocket for the same financing payment structure I'm currently in. I know this is bound to be a losing situation for me (ie: 1 yr and 8mths of payments down the tube) and probably a method to generate new car sales, but can anyone provide some insight into why this might be good or even worth looking into?

The only reason this perked my interest was for the fact that my wife has been complaining about the heavy steering (we didn't get active steering) and I'm entertaining the opp to move up to the 4.8 or diesel power.

Any feedback (pro or con) would be greatly appreciated.

Thanks in advance!

[tonycajjo]

seems like a sour deal to me. i'd hate to see the first year or so of payments lost to nothing. if they wanna buy my 02 for a new one have em gimme a call

[motordavid]

Originally Posted by Tae

Hey all,
...Says he can get me into an '09 w/no $$$ out of pocket for the same financing payment structure I'm currently in. I know this is bound to be a losing situation for me (ie: 1 yr and 8 mths of payments down the tube) and probably a method to generate new car sales, but can anyone provide some insight into why this might be good or even worth looking into?

The only reason this perked my interest was for the fact that my wife has been complaining about the heavy steering (we didn't get active steering) and I'm entertaining the opp to move up to the 4.8 or diesel power.

Any feedback (pro or con) would be greatly appreciated.
Thanks in advance!

You summarized the pitch correctly...the only pro(s) is if you want out of your current ride and into a "new" one,
maybe with the active steering for your wife.
That diesel jump is a little more pricey. The dlr is trying to move a unit; the loss of those previous payments is sort of
like rent that never got applied to the rent-to-own deal.
Your situ, your pick, imo.
GL,mD

[watrob]

They were doing that here also, putting you in new car at no cost up front! Just another method of trying to move more new cars!

[Tae]

You guys pretty much confirmed what I was thinking as well. Thanks everyone for responding.

[LightWerkz]

Its just a sales pitch to get you into a new car.

[BGM]

Yeah I get a mailer from time to time from a dealer here stating they are in special need of '01 X5 3.0s with low miles and then it goes into the current finance offers going on.

[FirstBMW]

My Wife had the same offer from Lexus. She was about 1/2 way into a 39 month lease. The only difference was Lexus does not do free maintenance and the low profile tires were about ready to be ready t be replaced. So we took the the deal, got a brand new car and saved on having a major service and buying tires. I think it ended up costing about $400 for a new car with the same payments.

[X-cellent]

FirstBMW has the only example of this working, ie in a leasing situation. As you are just "renting" the car anyway there is no money lost, if they'll flip you into a new one at the same numbers then go for it. If you own the car, you do loose all your $$ (although depending on how long you've owned, what you've got in and it's age, the money into the car could be less than the depreciation you've already taken) and the fine print is probably that they'll lease you a new car for the same payment as your old one....

If the new car is something you are thinking of, it may merit a closer look and discussion of all the details. Boards like this are great sounding platforms and the reality is that many of us have broader views of the world and can offer insight and help without prejudice. IMHO it wouldn't hurt to get all the details, just know you can ask for them and not make a decision on the spot, come here and see what it's all about...

Good Luck!

[Tae]

Originally Posted by X-cellent

FirstBMW has the only example of this working, ie in a leasing situation. As you are just "renting" the car anyway there is no money lost, if they'll flip you into a new one at the same numbers then go for it. If you own the car, you do loose all your $$ (although depending on how long you've owned, what you've got in and it's age, the money into the car could be less than the depreciation you've already taken) and the fine print is probably that they'll lease you a new car for the same payment as your old one....

If the new car is something you are thinking of, it may merit a closer look and discussion of all the details. Boards like this are great sounding platforms and the reality is that many of us have broader views of the world and can offer insight and help without prejudice. IMHO it wouldn't hurt to get all the details, just know you can ask for them and not make a decision on the spot, come here and see what it's all about...

Good Luck!

Thanks very much for the response.

I actually purchased my car, so my reluctance on the issue stemmed primarily from what would be the lost downpayment and 1 yr 8mth financing payments made to date. But if what you say is correct about equal payments meaning moving me into a lease vs. own, then I'd def want to stay away. Only way to find out is to get more details as you've mentioned.

BTW: The '08's got really low miles, she's been babied (had the oil changed out of BMW's scheduled service intervals at 1k and at 5k miles), and (knock on wood) she's been holding up pretty well. All said, outside of feeling like I missed out on checking the options box for the active steering (and that's more for the wife), I'm pretty happy with the ride I've got.

I'm planning to call the dealer back to get some additional details. I'll pass along whatever I find out if any of the other forum members can benefit from it.

Thanks again!