2003 X5 4.4 with sport
 

Ok, here is the deal. I am about to finally pull the trigger on a CPO X5 with 58,000 miles and the extended maintenance to 100,000 miles. I negotiated a pretty good deal ($29,500), but I am getting screwed on my trade-in (leased 2005 525i), which should be expected. I understand that the dealership has to make their money somehow…but I am looking for reassurance that I am making an o.k. deal. All in, I am writing a check for $38,000 for the car, which includes my negative equity. I figure that this car sells for around $33,000, and with tax/title/license it would be around the $38,000 that I am going to pay. Am I crazy for doing this deal?

As a side note, I NEED an SAV for my job. I am in residential development and need to do a bit of off-roading every once in a while for work. Basically, I need to be able to jump curbs and be able to ride on grass/gravel/rocks that my 525i would not be able to handle. I would get a Tahoe, but after driving a BMW for over a year I don’t think I can go back. I think that this is my best alternative.

Also, any advice on what I should look for before purchasing would be appreciated. I don't want to get a car that is going to be in the shop all this time.


Any thoughts are appreciated. Thanks!

So it is going to cost you $8500 to break the lease on the 525I? Have you called SWAP LEASE yet? Go to SWAPLEASE.com they maybe able to help you with getting out of that for about $250 bucks. They advertise your ride. If some one wants it and qualifies, Swaplease buys your ride and leases to the new people. They do it with no money down to the new people to attract them to leasing a used car. You have nothing to lose doing it that way.

I have tried swapalease, and have had no luck. With the new lease deals, it is hard to get someone into my lease ($733 per month) when the can get into a new 530i for less. I am in quite a pickle.

Yikes, I wouldn't be jumping curbs in my X5 but that's just me.:yikes:

OUCH! How many months left on the lease? For 8500 bucks you could buy a beater for work and keep your 5 series until it expires vs being immediately upside in a ride.

You're going to have a 40,000 loan on a car that the dealer wouldn't give you more the $27,000 for as a trade-in right now. You have to figure out if you can live with that, IMO it isn't worth it..stick with the 525. Not to mention that the % rate on the loan will be insane given the vehicle being covered is worth half of the cost, if you were planning on getting a loan.

I don't know if this helps, but I just bought an 03 4.4 sport (in perfect condition) cpo with 17,500 miles on it for $37500 without ttl. The BMW dealer gave me $1000 more than NADA and Blue book value for my 328i (not in great shape)trade in. So far I am VERY happy with the purchase. Good luck:)

I am getting 7.14% on $38,000 already in place from Capital One.

My 525i has body damage that I have had fixed (I was hit in a parking lot) and has been keyed 3 times. Also, the body work wasn't done properly so I am going to take a huge hit no matter what. Sometimes you just need to cut your losses and move forward.

Big help, while I may be getting more miles...I think I am going to be very happy with the extra power and ability to do a little off roading. Plus, I plan on putting an aftermarket Nav system (Pioneer ACIC-Z1) in the next couple of months.

UTDev,
I'm with the Gang above that thinks it is a very steep price
to pay for offing your 525 for a 3+ yr old X.

The X will trundle down some roads/washes and trails that
the 525 may get hung up in, but it is no Jeep. As for curb
jumping, I might consider very low speed curb crawling, but
it is no gazelle nor is the ground clearance exceptional.

That CPO warr is to 100K miles or 24 months, whichever
comes up first. They seldom mention that, and it only
covers the major stuff, unlike the orig warr.

I love our X, as do most here, and if the finances work
for you, it is not our place to dissuade you...but, it makes
little fiscal sense to me.
GL,mD