'05 worth buying off lease as long-term keeper?
 

Good evening everyone!!

It's been a looooooong time since I've posted anything here - due to the pending divorce and all - and that SHE is keeping the X5:loser:

So now we're in the end stages of negotiations for a divorce settlement, and the X5's lease is up in January of '08, and she really, really likes it, and wants to have something like it after the lease is up.

I suggested maybe buying the puppy at the end of the lease term.

It's an '05 3.0, premium, step, and all the keeper features, but what's the general impression here of the long-term viability (6-8 years) of the '04 - '06 X5s? I know I can probably buy the extended maintenance program, and we already have the snow tires, but is anyone else viewing these SAV's as long-term keepers?

If so, why? I'm geniunely curious to hear what my fellow enthusiasts have to say!!

Oh yeah its viable. Depends on the buy out...

How is the buy out determined? Can you negotiate at the end of the lease?

(My 04 4.4 sports comes up this Sept)

On the BMW lease agreement the buy out, at the end of the lease is:
line D Residual.

If you want to buyout prior to lease end it's the residual plus the remaining lease payments.

It's a good deal if the residual/buyout is lower than the market price in your area.

The buy out price (residual) is always negotiable though BMWFS will probably not admit this readily. They own the car and they will have to take it back at lease end and turn around and sell it. Depending on the market, it may be more profitable for them to sell the car to you at a reduced price than to accept it back and sell it. Start lower than the amount you are prepared to pay and work up from there. Good luck!

Thanks for giving me hope. I'll research the current numbers in our area and go from there.

Lease Buyout
 

I just bought out the lease on my '04 X5. I was the original owner and ordered the car exactly like I wanted it. Turns out BMWFS would NOT negotiate the residual which was confirmed three different times. (I've had other leasing companies negotiate in the past) However, in my case, the residual was several thousand under wholesale book and 7K under retail. It was even under recent auction sales. I had the car CPO'd and plan on keeping it quite a while as I'm not in love with the new E70 body style or increased prices. The Fleet/Lease manager at my dealer said 40% of E53 lease owners were buying them in lieu of leasing an E70 due to a general lack of interest in the new model... Good luck.

It depends on what your buy-out terms are relative to pricing for similar model/year/options in your area.
The positive is that you have owned it since new, know how it has been driven serviced etc.
Even though you were the original owner I would not own an X5 once the OEM warranty expires. If you decide to keep it get the dealership to CPO it or get an aftermarket warranty.
The extended maintenance is separate to extended warranty- covers stuff like brakes, oil change, inpection I/II. It will pay for itself after one all round brake job.
For what its worth I will not hold on to my '04 a day longer than when the CPO expires - no problems with it, just don't want to be without a warranty with the looming potential for very hefty repair costs.

are you talking about BMWSF? they are really smug ;)

Welcome back, T. Helping your ex....you are a good man. ;)