Need opinions on lease takeover for '04 330xi

[PeteG]

Hi Gang,

I've been planning to (in the next week or so) order an E90 325xi for my wife, unless I can find a nice deal on a late e46 330xi. So far, the late e46's seem to be in the mid to upper $30k's and the E90 325xi would run abou $40k equipped the way we want it, so we've been leaning towards the E90.

I did come across (locally) a guy who's looking to get out of his lease on an '04 330xi, loaded and super clean (17k miles on it). He wants to sell it for the buyout price of $37,392.24 or have someone take over the lease at $576.45 until May, 2007. It's got pp, cw, sport pack, xenons, nav, premium sound, pdc, 17" run-flat's, etc.-quite a bit more than we were looking for, but there it is.

I've never leased nor was I planning to lease, but the lease takeover may be interesting (no money layout, 1400 miles/month on average available, warranty and maintenance while I have it, turn in it when done and decide where to go from there...)

Does this seem like a good situation? Does anyone have any 2 cents or advice on this potential deal? Thanks in advance, as always.

[dan_fitz]

I think that it sounds like a pretty good deal. My wife has a '02 RX300 and the 4 year lease is coming to an end in a few months. That was $525 per month for 1,000 miles per month and nothing down. A few things to keep in mind - check into any costs at the time of return. Some leases can be costly at the end of the lease. Also, remember that you will be paying taxes of over $2,000 when you take this lease over. If you buy a new car, you can build the cost of the taxes into your lease. New model may also have a higher residual value making the lease less expensive.

[PeteG]

Originally Posted by dan_fitz

I think that it sounds like a pretty good deal. My wife has a '02 RX300 and the 4 year lease is coming to an end in a few months. That was $525 per month for 1,000 miles per month and nothing down. A few things to keep in mind - check into any costs at the time of return. Some leases can be costly at the end of the lease. Also, remember that you will be paying taxes of over $2,000 when you take this lease over. If you buy a new car, you can build the cost of the taxes into your lease. New model may also have a higher residual value making the lease less expensive.

Dan,

Thanks for your reply. When you say "remember that you will be paying taxes of over $2,000 when you take this lease over", what exactly do you mean? Are you referring to any state sales tax charged by my state? What other costs should I check into at time of return? Thanks again.

[dan_fitz]

Yes, I am talking about your state taxes when you register the car. As for fees, they will be in the details of the lease contract. It is not just as easy as taking over the lease, as you will be liable for any costs when the lease is returned. I just wanted you to make sure there is no baloon payment or other fees when you turn the vehicle in. Ideally, you would just call the leasing company and have them come pick the car up at no cost to you. Sometimes there is a $250 to $500 charge at the end of a lease.

[PeteG]

Originally Posted by dan_fitz

Yes, I am talking about your state taxes when you register the car. As for fees, they will be in the details of the lease contract. It is not just as easy as taking over the lease, as you will be liable for any costs when the lease is returned. I just wanted you to make sure there is no baloon payment or other fees when you turn the vehicle in. Ideally, you would just call the leasing company and have them come pick the car up at no cost to you. Sometimes there is a $250 to $500 charge at the end of a lease.

Thanks, Dan. Much appreciated!