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#1
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Decisions, decisions, decisions...
I'm looking to get back into an SUV (had a brief experience with an 07 Yukon Denali that we sold at the height of the oil price bubble)... Anyways, my wife's C300 just isn't cutting it as a baby hauler and we are looking at a family wagon... I started looking at the X5, the Audi Q5, and the Porsche Cayenne (I have a 997). The Cayenne is too expensive to be a baby hauler. We looked at the Q5 and although it looks nice, is a bit on the small side and I found the 2.0T engine to be a bit underwhelming. We liked everything we saw regarding the x5 (E70) and decided this was the car to get. I am not posed with the dilemna of what to get. Our options are: 1) Purchase a 2008 X5 3.0. Around $36K with low miles. 2) Lease 2011 X5 3.5. Around $650 per month for 36 months. 3) Purchase 2011 X5 3.5. Around $50K including holiday cash. The first option seems really attractive as we've found a decent model with 25K miles on the clock. Extended warranty is good until 2014. Dowside is that it has the old 3.0 motor, the 6 sp tranny, and the plastic bumpers. I think BMW did a really great job with the 2011 refresh. I'm not really looking for a loaded X5, the only requirements are bluetooth and power liftgate (for the wifey). Other than that, it's just the baby mover/grocery getter... My wife's criteria was something nice with aesthetic appeal (we live in the OC)... The 2008 seems like a good solution as it's the latest model (E70) at the cheapest price wth a good warranty. The second option of leasing is attractive for a certain reason. I've always purchased my cars. However, I've cost myself a boat load of money by selling my cars so quickly. In the past 3 years, I've bought a Lexus GS, Yukon Denali, Mini Cooper JCW, Mercedes C300 and 997 Carerra S. I think leasing might actually save me some cash as I took a bath on every vehicle sold. Pretty soon, the Porsche will be the only car in the garage... When I calculate out the current lease offers, it seems like a pretty attactive deal as you get the $2500 holiday cash to reduce your cap cost. Also, seems like you are getting a pretty good money rate. So all else equal, not a bad choice. The last option is just to go and buy the truck and try to negotiate the best deal possible. I read about people getting $500 over invoice (before holiday cash) and getting a car out the door in SoCal for under $50K. Can anyone confirm or deny this? If I can get a brand new 2011 for just over $10 more than it'd cost me for a used 2008, this could be the most attractive offer... I've noticed a ton of people going the new route instead of the used. Are new cars the better deal? Should the 2008 be priced below $36k? Thanks. |
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#2
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First .....Next, you need to get a idea of what the residuals are. With your practice of dumping cars often, leasing is the only way to go. I'm sure someone that has made a recent purchase will chime in.........Phil
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2011.5 Dinan ///M3: SSII DCT Competition Pkg Convenience Pkg Premium Pkg 2 Heated Seats Enhanced Premium Sound Black Kidney Grills BMW M Performance Steering Wheel BMW Carbon Fiber Performance Spoiler BMW Aluminum Pedals Dinan Exhaust Dinan Mid-Exhaust (x-pipe) Dinan Carbon Fiber Intake Dinan Performance Tune Dinan Pulley Kit Dinan CH-R Wheels Dinan Carbon Fiber Strut Tower Braces Arkym Front Lip Carbon Reflectors Lux H8 V3 Brembo 365mm BBK |
#3
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residuals are at 54-58%... there's also a $350 lease disposal fee at end of term...
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#4
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I would not go for option 1 - I used to have 2008 X5 4.8, and while it was my first BMW ever, it had its problems - especially with bluetooth - it took forever (I mean 2+ minutes) to connect after starting the car. Your wife my find it very irritating.
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His : 2013 X5 3.5d Deep Sea Blue/Black/Aluminum with ALL packages, 20" 214"s, running boards, Adaptive Drive, Spare Tire, BMW Apps On Order : 2016 X3 3.5 MSport Silver/Mocha with DHP, CW, Prem, Tech, DA, Lighting Hers : 2015 328xi MSport Silver/Red Prior: 2008 X5 4.8 2011 X5 3.5d 2010 335 xDrive 2013 335 xDrive |
#5
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My 2008 4.8i was pretty bad. Transmission was dreadful, low battery warnings all the time, Bluetooth just freezing the entire iDrive screen, pathetic gas mileage (like 8mpg). I would get a newer one, if you can!!
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#6
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2008 3.0si doing very well for me in general. Baby hauler for the wife - it'll be perfectly fine. No need to get much more fancy than you already are. I'm a guy but since I'm also the only driver for the most part, I haul babies around with it all the time too. I don't know much about the $36k figure, but 2014 warranty sounds good to me. Obviously mine ends in early 2012 and have been very happy with it.
BTW, the bluetooth depends highly on the phone you have. I got a new droid X and it connects right away whereas my old HTC Titan did not. Power tailgate, also great for having kids since your hands are always full. Comfort access, even better.
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'08 X5 3.0si - Alpine White / Saddle Brown interior Specs: Sport Pkg, Premium Pkg, Tech Pkg, Comfort Access, Aero Kit, Style 433 staggered 20s on Conti DWS Mods: Carbon 35 tint, LED angel eyes, GP Thunder 7500k fogs, H&R 20mm/25mm spacers, clear reflectors, gunsmoke-tinted taillights Coded: Digital speedo, windows/sunroof/tailgate close via keyfob X5 pics at Flickr Last edited by rh71; 12-13-2010 at 09:52 PM. |
#7
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Thanks for the responses. I looked at an '07 and '08 today... I also realized that the current CPO incentives offered by BMW aren't really very good. .9% for 24 months only OR extended no maintenance (but only if you finance through BMW at 4.9% OR they pay 3 months of payments (max $500 per month) but only if you finance through BMW at 6.9%.
Personally, I'd rather just get a cheaper price and not have any BS incentive... |
#8
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If you can write off some of the monthly expense, a lease makes some sense, as you seem to move in and out of cars frequently. If some part of a lease can't be written off, I cannot find a reason to lease. Then, your stated options of 1 or 3 make more sense, depending on your finances and the kind of dough you want to lay out. Or, keep looking.
My 50Cts... GL, mD
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