06-10-2018, 12:20 PM | #1 |
BMW CCA #505303
43
Rep 185
Posts |
2015 BMW X5M Lease End Decision...
Hello,
Would like to get some thoughts from others here as to what you might do or any suggestions... I've read allot of information that has been posted, but would like to get some feedback as to what folks would do in this situation. Lease is coming up on July 24th 2018. Considering purchasing it outright from BMWFS. Other option is to purchase a new 2019 BMW X5 when they start coming out in the next few months. We don't drive much, thus the low mileage, which is actually from when we first purchased it (was driving into the office daily, now work full time from home). 2015 BMW X5M ~9500 Miles (June 10th 2018) Donington Grey Silverstone Full Merino Leather Driver Assistance Plus Executive Package Parking Assistant Enhanced BT NightVision MSRP: $112,295.00 Dealer provided info when asked about purchasing outright: Residual Buyout: $65131.00 Manheim Auction: $69327.45 Dealer Retail: $70K's Was told that if I decided to purchase it outright: - They would charge me $500 over buyout price for processing the paperwork - Extended warranty $2200 1yr, $4500 2yr - There is NO 'negotiating' a lower buyout price, period 2015 BMW X5M I've posted some pictures of the car taken yesterday for any reference. As I'm not driving that much anymore, I don't really 'need' an X5M as usually my wife drives it to the grocery store and back, hence looking at a 2019 BMW X5 MSport. Thank you kindly for any and all feedback.
__________________
2015 BMW X5M F85 ///M
|
06-10-2018, 12:40 PM | #3 |
Lieutenant General
588
Rep 15,818
Posts |
I would order a 2019 X5 and use that as a leverage to extend your current lease up to 6 months (or whenever the new car arrives). This can be done through a phone call with BMWFS after you got an order number from your dealer.
__________________
IG:d.violet.m3
|
Appreciate
0
|
06-12-2018, 05:00 PM | #4 |
New Member
11
Rep 21
Posts |
"There is NO 'negotiating' a lower buyout price, period"
That is not true. The dealer may have told you that, but they are wrong... as usual. When BMWFS takes an end of lease car, they sell it at auction. Almost always for less than the price you can buy it from them at at the end of the lease. So you can offer BMWFS less and they might take it because it saves them the hassle of having to sell it at auction and taking a lower price at auction. |
06-13-2018, 10:03 AM | #5 |
Colonel
186
Rep 2,245
Posts
Drives: '16 991.1 911 GTS, '16 F85 X5M
Join Date: Apr 2012
Location: NNJ
|
I will face this dilemma in 11 months, with possibly less miles used. But if not negotiable, no chance I'd buy it out.
__________________
2016 991.1 911 Carrera GTS
2016 F85 X5M - Carbon Black/Mugello Red |
Appreciate
0
|
06-14-2018, 06:23 AM | #6 |
Captain
350
Rep 604
Posts |
Same boat here. I have 6 months left. My residential is $61,000. I'll most likely be around 28K miles by that time which is well below my allotted mileage. This is the only vehicle I have ever owned that I would want to keep. It has been bulletproof and is the best daily driver I could ever wish for.
|
Appreciate
0
|
06-15-2018, 04:20 PM | #7 |
Private First Class
33
Rep 176
Posts
Drives: 17' X5M/91' 325i
Join Date: Aug 2007
Location: Chicago, IL
iTrader: (0)
Garage List 2017 X5M [0.00]
2014 X5 50i MSport [0.00] 2011 X5 35i SA [0.00] 2007 X3 3.0si [0.00] 2007 335i [0.00] 2003 330Ci [0.00] 1991 325ic [0.00] |
While there is no harm in trying to negotiate a better price through BMWFS or the dealer, a well maintained and low mileage lease return should (in theory) be worth more than the buyout price. The buyout on your car is less than auction, so in that case why wouldn't the dealer simply buy the car themselves and run through auction and make a few quick $'s?
I tried this with a Mini Cooper S back in the day and they told me the same thing and stuck to it - even after calling BMWFS directly. I was only looking to buy the car to resell as it only had 12,000 miles and they were new and hard to find at the time. I ended up buying at the buyout price, although I don't recall any $500 charge to complete the paperwork. In fact, I think they did it for free. Ended up making $5k off of it when it sold the next week (well, should say made $5k back of what I didn't use out of the lease payments over 3 years).
__________________
17' X5M LBB
91' 325ic - Bril Red, Full Dinan Spec (past) 14' X5 50i MSport - Min White (past) 11' X5 35i SA - Black Saph (past) 07' X3 3.0si MSport |
Appreciate
0
|
06-15-2018, 06:32 PM | #8 |
BMW CCA #505303
43
Rep 185
Posts |
Thanks for the feedback. I haven't really talked to any other dealers about the lease end buyout details as they all want you to come in and buy something new (and I get it, they are in the business to do just that).
The dealer I did have an email conversation with, provided these figures and is giving me the 'we cannot buy it for less than you can' line. I won't buy the car from these guys as they are the type of dealership to try and take you for what they can and they don't even care to hide it (as compared with the numerous other BMW dealers in the Chicago area). The only reason I bought my X5M from this dealer was that the car was ordered by someone and they then backed out before the car came in, so they had discounted it 10% and this was in July of 2015 when the X5M's were new to the market and just hitting the dealerships. Has anyone worked with any of the Forum Dealers here to negotiate an end of lease buyout? My hopes were that I'd either be able to buyout the car for less, or, buy the car at the lease end buyout price with a CPO extended warranty.
__________________
2015 BMW X5M F85 ///M
|
Appreciate
0
|
06-15-2018, 10:58 PM | #9 | |
Lieutenant General
588
Rep 15,818
Posts |
Quote:
__________________
IG:d.violet.m3
|
|
Appreciate
0
|
06-18-2018, 07:17 AM | #11 |
Colonel
186
Rep 2,245
Posts
Drives: '16 991.1 911 GTS, '16 F85 X5M
Join Date: Apr 2012
Location: NNJ
|
Actually while on the subject, this is my first lease. How does it work, do they reach out to you in advance or are you supposed to reach out? Looking forward to getting my MSDs back.
__________________
2016 991.1 911 Carrera GTS
2016 F85 X5M - Carbon Black/Mugello Red |
Appreciate
0
|
06-18-2018, 10:10 AM | #12 |
Captain
173
Rep 901
Posts |
Don't forget that you will have to pay sales tax on the buyout amount so make sure to factor that in if you decided to sell yourself later. If I were you, I would probably just extend the lease as long as you can with BMW and see what deals you can get later but you may need to consider a different model as the new x5M won't be out until mid 2020 at the earliest.
__________________
Sold: 2020 X7 M50 White Mineral with Ivory & Blue, 2017 X6M Long Beach Blue with Mugello Red, 2014 X6M Monte Carlo Blue with Mugello Red, 2011 X6 5.0 Black on Black, 2008 E350 4Matic Silver, 2006 Infiniti M45 Diamond Graphite
|
Appreciate
0
|
06-22-2018, 10:42 AM | #13 |
Private First Class
33
Rep 176
Posts
Drives: 17' X5M/91' 325i
Join Date: Aug 2007
Location: Chicago, IL
iTrader: (0)
Garage List 2017 X5M [0.00]
2014 X5 50i MSport [0.00] 2011 X5 35i SA [0.00] 2007 X3 3.0si [0.00] 2007 335i [0.00] 2003 330Ci [0.00] 1991 325ic [0.00] |
Yes, BMWFS will also send you a kit so you can check the car for acceptable wear and tear and/or calculate the possible lease end charges. That being said, I've usually rolled into another lease and the dealer or BMWFS have been very lenient on charging me for anything related to wear and tear. Over mileage is obviously not really negotiable, although if you know you'll be over you can pre-pay at lower per mile rate as long as you call before the lease is up. Can't remember if it was 6 months out, or if you can only do that within the last 90 days...
__________________
17' X5M LBB
91' 325ic - Bril Red, Full Dinan Spec (past) 14' X5 50i MSport - Min White (past) 11' X5 35i SA - Black Saph (past) 07' X3 3.0si MSport |
Appreciate
0
|
06-23-2018, 07:00 PM | #14 | |
BMW CCA #505303
43
Rep 185
Posts |
I'd have to look at which documentation it was from BMWFS, but it indicated that you'd also be 'eligible' for a credit with very low miles, as in my situation.
Lease was for 10K miles/yr and after 3 yrs I'm at ~9600 miles. Again, I forget the details, but hadn't ever heard of this before. Wife and I went out to a couple dealerships today and while there are allot of nice BMW's out there, I didn't really see anything that I would want to change into at this point. I'm thinking I'm going to do the buyout from BMWFS at this point. I also want to get in for service as it needs an oil change and I don't know what it is, but I 'think' I'm hearing a noise at slow speeds (as in parking lots) that almost sounds like the suspension is loose. I know how crazy that sounds, but that's about the only way I can describe it... Anything else I should / could get done at the service appointment? Partly I ask as I'm not sure if the 'free maintenance' will continue once I buy the car outright from BMWFS. I was going to ask about new brakes, but they aren't that worn at just ~9600 miles... Thanks kindly... Quote:
__________________
2015 BMW X5M F85 ///M
|
|
Appreciate
0
|
07-10-2018, 01:54 AM | #15 |
Brigadier General
1881
Rep 3,341
Posts |
thinking about doing this as well when my lease is up. I just don't see anything out there I want to get-
Keep us informed. I am curious if you can negotiate a lower price for the buyout.
__________________
Currently:
2018 GT3 2020 X3MC Previously: 1999 M3 2002 M3 2005 S4 2008 C63 2015 M3 2016 X5M 2019 911S |
Appreciate
0
|
07-15-2018, 06:46 PM | #16 |
BMW CCA #505303
43
Rep 185
Posts |
I'm literally down to one week away from lease end this Tuesday (lease end is the 24th).
I talked to my local dealer and they had no interest in wanting to assist me in trying to negotiate a lower buyout price. They told me to contact BMWFS directly and speak with them. So I'm going to call tomorrow and see what I can do... I'll post back as soon as I have the final details...
__________________
2015 BMW X5M F85 ///M
|
Appreciate
0
|
07-15-2018, 07:05 PM | #17 |
Second Lieutenant
101
Rep 254
Posts |
I wish we could just buy these cars online and not have to deal with the dealers at all. At lease the illusion of having someone to take care of you as a customer would not exist.
|
Appreciate
0
|
07-15-2018, 07:19 PM | #18 |
BMW CCA #505303
43
Rep 185
Posts |
Actually... and I'll find out this week, but I think we can purchase it online without having to see a dealer.
If you go to your "Account Management" page, they have all the information to request a payoff price and the process you need to follow to complete it. This being my first time going through this process, I'm going to call BMWFS this week and see if there is anything I'm missing, but as of this point, from what I've seen so far, you can do it all yourself online, which makes sense that they would automate the process so that they don't have to staff additional people to assist with processing it...
__________________
2015 BMW X5M F85 ///M
|
Appreciate
0
|
07-16-2018, 09:16 AM | #19 | |
Captain
367
Rep 702
Posts |
Quote:
|
|
Appreciate
0
|
07-16-2018, 03:06 PM | #20 | ||
Second Lieutenant
91
Rep 222
Posts |
Quote:
Quote:
|
||
Appreciate
1
Defib60.50 |
07-17-2018, 01:56 PM | #21 |
Colonel
186
Rep 2,245
Posts
Drives: '16 991.1 911 GTS, '16 F85 X5M
Join Date: Apr 2012
Location: NNJ
|
Is extending the lease an option?
__________________
2016 991.1 911 Carrera GTS
2016 F85 X5M - Carbon Black/Mugello Red |
Appreciate
0
|
07-17-2018, 06:43 PM | #22 |
BMW CCA #505303
43
Rep 185
Posts |
One of the two dealers I talked to mentioned something about that but they weren't real clear...
Also, the last dealer indicated that they didn't want to get involved with it as he said "all dealers have been told that they can no longer offer the customer a lower price and split the difference with the customer on the lower price". From talking with them, it sounded like they were a dealer that had been doing this. I'll be calling them tomorrow as I didn't get a chance today before they closed.
__________________
2015 BMW X5M F85 ///M
|
Appreciate
0
|
Post Reply |
Bookmarks |
|
|