Get out of 535i lease for 3.0 x5?

RTbar · #1 03-23-2008, 11:15 PM

Quote:

Originally Posted by Derek

The way I understand it you would basically be trading in your car and getting the trade value towards paying off the lease. After only 6 months I don't think you are going to like the numbers. By putting $7K down you "might" be able to get out even. Unless you are buying the Mini at the same time I don't think they'll consider it. I'm sure they hear a lot of "future" promises.

So having a large down payment would help me? How so?

Quote:

Originally Posted by Quicksilver

Why? No like the 535???

I do like it, but I'm not crazy about jet black, I prefer metallic colors, and I like the higher seating position of the x5... the 535 has too much power for my usage anyways, I'm from stoplight to stoplight here in FL with not too many chances to unleash the TT.

Derek · #2 03-24-2008, 08:38 AM

Since you would be required to "payoff" your lease with the trade-in value of your 535 the large down payment would help in keeping your out of pocket costs to trade lower. Unless you absolutely need to get an X5 you'll be MUCH better off financially to keep what you have. If you got a stellar deal on your 5 you might be able to use one of the lease swapping services to get out of it. Did you apply the $7K to cap costs or to the MSDs? If you applied it to MSD my understanding is that the person assuming the lease will get the money in the end. This will make your car very attractive to assume but of course you'll loose the money.

RTbar · #3 03-24-2008, 01:25 PM

Quote:

Originally Posted by Derek

Since you would be required to "payoff" your lease with the trade-in value of your 535 the large down payment would help in keeping your out of pocket costs to trade lower. Unless you absolutely need to get an X5 you'll be MUCH better off financially to keep what you have. If you got a stellar deal on your 5 you might be able to use one of the lease swapping services to get out of it. Did you apply the $7K to cap costs or to the MSDs? If you applied it to MSD my understanding is that the person assuming the lease will get the money in the end. This will make your car very attractive to assume but of course you'll loose the money.

the 7k was to reduce cap costs

E61Silver · #4 03-24-2008, 01:27 PM

What are your lease payments?

RTbar · #5 03-24-2008, 01:42 PM

Quote:

Originally Posted by x54.4blue

What are your lease payments?

700 a month

Boston X5 4.4 · #6 03-24-2008, 01:36 PM

Quote:

Originally Posted by RTbar

the 7k was to reduce cap costs

....just another way to say downpayment.

The 3.0 will be as slow as molassess coming from the 5.35

Thunder22 · #7 03-24-2008, 08:38 AM

A 3.0 X5 is a pig... 260hp hauling around 5k lbs of unladen german automotive prowess is not exactly a sprinter. Did you test drive the X yet?

Disregarding what you'll be getting instead, that $7k is going to be a tough nut to swallow. I've said it a lot on here, NEVER EVER put money down on a lease. The only thing you should be out of pocket for up front is tax, title, and reg. and if your state doesn't charge sales tax monthly, pay the sales tax up front. Excluding tax/title/reg, take that $7k divide it by your current lease payment and that's the # of extra payments you've made because you put that $7k down.... yikes, I cringe every time I hear someone do this...

RTbar · #8 03-24-2008, 01:29 PM

Quote:

Originally Posted by gresch

A 3.0 X5 is a pig... 260hp hauling around 5k lbs of unladen german automotive prowess is not exactly a sprinter. Did you test drive the X yet?

Disregarding what you'll be getting instead, that $7k is going to be a tough nut to swallow. I've said it a lot on here, NEVER EVER put money down on a lease. The only thing you should be out of pocket for up front is tax, title, and reg. and if your state doesn't charge sales tax monthly, pay the sales tax up front. Excluding tax/title/reg, take that $7k divide it by your current lease payment and that's the # of extra payments you've made because you put that $7k down.... yikes, I cringe every time I hear someone do this...

i havent driven the 3.0 yet but I did own a 2004 4.4i... but assuming I don't drive that fast anyways is it that slow? I'm mainly just looking for a little more room and comfort that what the 535 has