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      03-04-2018, 09:36 PM   #1
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Extending lease to wait for G05

My lease ends June of this year but have my eyes set on the new G05. Up in a Canada, the first car probably won’t be arriving in dealers till November I’m guessing. I’m thinking of extending my current lease. Does anyone have experience in doing this and are there any drawbacks to it?
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      03-04-2018, 09:53 PM   #2
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No drawbacks I can think of. Big question is if bmw is willing to extend that long.
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      03-05-2018, 08:45 PM   #3
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Originally Posted by bubbahead View Post
My lease ends June of this year but have my eyes set on the new G05. Up in a Canada, the first car probably wonÂ’t be arriving in dealers till November IÂ’m guessing. IÂ’m thinking of extending my current lease. Does anyone have experience in doing this and are there any drawbacks to it?
I'm curious to know as well. Ours is up in the beginning of October and I would love to extend for a couple of months to get a good handle on what I want to do. Our X5 m Sport will only have about 45,000 km on it with a $42k buyout.
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      03-07-2018, 09:48 AM   #4
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Keep in mind you really don't want the first batch of cars off the lot. I remember when the F15's were first released there were a lot of people reportedly having issues with their new cars. Those posts died down after a couple of months from what I remember. Not saying its going to happen to everyone but there is def. an increased chance when a all new model comes out from BMW.
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      03-07-2018, 04:32 PM   #5
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Quote:
Originally Posted by Alan l. View Post
Keep in mind you really don't want the first batch of cars off the lot. I remember when the F15's were first released there were a lot of people reportedly having issues with their new cars. Those posts died down after a couple of months from what I remember. Not saying its going to happen to everyone but there is def. an increased chance when a all new model comes out from BMW.
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      03-08-2018, 06:53 AM   #6
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I actually confirmed it’s Sept, 2018 my lease up, not June. Anyhow, I agree, the first batch of x5’s will be like guinea pigs.
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      03-08-2018, 07:03 AM   #7
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Quote:
Originally Posted by Alan l. View Post
Keep in mind you really don't want the first batch of cars off the lot. I remember when the F15's were first released there were a lot of people reportedly having issues with their new cars. Those posts died down after a couple of months from what I remember. Not saying its going to happen to everyone but there is def. an increased chance when a all new model comes out from BMW.
This...^ Plant Spartanburg tends to always have teething issues when an all new model begins production.

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I agree, the first batch of x5’s will be like guinea pigs.
It is never good to be a Beta-Tester.
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      03-13-2018, 09:53 AM   #8
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I've seen a good about of people with check engine lights shortly after picking up the car from the dealer when the F15 first came out. Def seems to happen more with cars made in the US compared to cars built in Germany from what i've noticed.
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      03-13-2018, 03:22 PM   #9
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Originally Posted by X54TH View Post
I'm curious to know as well. Ours is up in the beginning of October and I would love to extend for a couple of months to get a good handle on what I want to do. Our X5 m Sport will only have about 45,000 km on it with a $42k buyout.
You can extend up to 6 months, but need to contact BMW financial to get it approved, I extended once for the full 6 months no issue, they prorate the trade-in residual and mileage allowance for that additional period.
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      03-30-2018, 03:04 PM   #10
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You can extend up to 6 months, but need to contact BMW financial to get it approved, I extended once for the full 6 months no issue, they prorate the trade-in residual and mileage allowance for that additional period.
I will definitely take advantage of that which will take me out to March / April. Great tip. Thanks!!
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      03-30-2018, 04:11 PM   #11
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Be mindful when extending a lease of a few things:
  • Will an extra 3-6 months of miles put your tire tread depth at a level where you'd need to replace them?
  • Now with BMW warranty cuts, do you run the risk of having an out-of-warranty vehicle?

Also keep in mind that when a new body style debuts, for whatever reason, dealers tend to discount less because of "scarcity." Some people are willing to pay the premium to be the first to have one; I'm not one of those people.
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      03-30-2018, 04:27 PM   #12
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Be mindful when extending a lease of a few things:
  • Will an extra 3-6 months of miles put your tire tread depth at a level where you'd need to replace them?
  • Now with BMW warranty cuts, do you run the risk of having an out-of-warranty vehicle?

Also keep in mind that when a new body style debuts, for whatever reason, dealers tend to discount less because of "scarcity." Some people are willing to pay the premium to be the first to have one; I'm not one of those people.

All good points. The car will be 3 years at that point with ~35-40,000 km. The car's warranty is 4 years 80,000 km. If I time it right I'll run the winter setup during those extension months (Oct - March) I'll save the OEM summer tires.

I hear ya about the deal. We'll see how good our BMW contacts really are at that point. My other option is to move my wife down to the X3 M40. I just traded in my 2012 Jeep GC Overland for a new Jeep Grand Cherokee Summit that I'm picking up tomorrow. So there may not be a need to have two big SUV's.
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      03-30-2018, 09:28 PM   #13
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All good points. The car will be 3 years at that point with ~35-40,000 km. The car's warranty is 4 years 80,000 km. If I time it right I'll run the winter setup during those extension months (Oct - March) I'll save the OEM summer tires.

I hear ya about the deal. We'll see how good our BMW contacts really are at that point. My other option is to move my wife down to the X3 M40. I just traded in my 2012 Jeep GC Overland for a new Jeep Grand Cherokee Summit that I'm picking up tomorrow. So there may not be a need to have two big SUV's.
I "need" to get a new car soon (my '15 X5 lease is up in June), and the X3 M40 is fun, but (1) I missed the size and comfort of the X5, and (2) it's not really a huge savings over the X5.

I'd be more interested in the X3 if it helped my cash flow/savings routine, but at $65k (vs $73k for an X5 the way I'd want it), with the same residuals/MFs, the X3 is certainly no bargain.

I have my eye on the Jeeps as well, although I've read a redesign is forthcoming soon.
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      03-30-2018, 09:54 PM   #14
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I "need" to get a new car soon (my '15 X5 lease is up in June), and the X3 M40 is fun, but (1) I missed the size and comfort of the X5, and (2) it's not really a huge savings over the X5.

I'd be more interested in the X3 if it helped my cash flow/savings routine, but at $65k (vs $73k for an X5 the way I'd want it), with the same residuals/MFs, the X3 is certainly no bargain.

I have my eye on the Jeeps as well, although I've read a redesign is forthcoming soon.
Before going to looking at the Jeep Summit. I test drove the X3 M40. I liked it, it reminded me of my son’s M235. Thought the X3 was too small for me. My wife said she just couldn’t see it...it wasn’t a fit for me. I loaded one up with the Ultimate package. If I remember correctly I was about $67k after the “big” discount (lol). So I went to go see a 2017 Summit with 9,000 km on it. I unloaded the 2012 Overland with 220,00 km on it for $15k. I walked away with a loaded Summit 5.7L, leather, appearance pkg, etc for $43k all in taxes, lic, etc. New model is coming in 2 years and i’ll trade this one in for the new one. Plus by that time the warranty will run out and a good chunk of the depreciation was done already. I pick it up tomorrow at noon.

I still love our X5 M Sport. It’s a great ride. I may just keep it for $42k and wait a year and trade that in for the new one.

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      07-17-2018, 07:26 PM   #15
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Got a call today from BMW. The lease is up at the end of September. They were willing to extend the lease but I had to give them $1K to hold a spot to order the new G05. Looks like I'm going down the path of a new X5.
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      07-17-2018, 08:24 PM   #16
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Got a call today from BMW. The lease is up at the end of September. They were willing to extend the lease but I had to give them $1K to hold a spot to order the new G05. Looks like I'm going down the path of a new X5.
That's great! Make sure to post pics when you get it.
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      07-18-2018, 08:51 PM   #17
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That's great! Make sure to post pics when you get it.
I've been thinking lot about it today. My wife took my Jeep to the cottage and she left me with her X5. I enjoyed driving it so much today with the sunroof open and the music turned up that I drove past my exit.

I was on G05 Forum and they've got the details on the car, options and packages for the US only. Our dealership has zero info. I'm sure our Canadian cars will be packaged up slightly different as they did for the F15. I told my wife this is her birthday, 30th Anniversary and Christmas present all rolled into one. She agreed as long as I got her the Swarovski Crystal shifter...I can just imagine what that will cost me.

Anyway, I'm pretty excited. I might push to get this earlier (Nov). I hope the bolt pattern is the same so I can use the F15's Winter setup as I'm going for the G05's 22" option.
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      07-18-2018, 08:56 PM   #18
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That's great! Make sure to post pics when you get it.
I've been thinking lot about it today. My wife took my Jeep to the cottage and she left me with her X5. I enjoyed driving it so much today with the sunroof open and the music turned up that I drove past my exit.

I was on G05 Forum and they've got the details on the car, options and packages for the US only. Our dealership has zero info. I'm sure our Canadian cars will be packaged up slightly different as they did for the F15. I told my wife this is her birthday, 30th Anniversary and Christmas present all rolled into one. She agreed as long as I got her the Swarovski Crystal shifter...I can just imagine what that will cost me.

Anyway, I'm pretty excited. I might push to get this earlier (Nov). I hope the bolt pattern is the same so I can use the F15's Winter setup as I'm going for the G05's 22" option.
I'd be making that the gift for the next 10 birthdays lol. That shifter by itself sounds to rich for my blood. Hope you get to enjoy the hell out of it though!
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      07-18-2018, 08:58 PM   #19
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I'd be making that the gift for the next 10 birthdays lol. That shifter by itself sounds to rich for my blood. Hope you get to enjoy the hell out of it though!
LOL. I'm try to prepare myself for that price tag. I regret showing her the video.
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      07-18-2018, 09:03 PM   #20
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I'd be making that the gift for the next 10 birthdays lol. That shifter by itself sounds to rich for my blood. Hope you get to enjoy the hell out of it though!
LOL. I'm try to prepare myself for that price tag. I regret showing her the video.
Well as I'm sure you know since you said 30th anniversary happy wife, happy life. Even if you need to sell a lung for it lol
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      07-18-2018, 09:07 PM   #21
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Well as I'm sure you know since you said 30th anniversary happy wife, happy life. Even if you need to sell a lung for it lol
I'll have to throw in a child as well. I just found out that the G05's bolt pattern is different from the F15. Looks like I'll need to sell F15's Winter setup before this car comes in. errrrr
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      07-18-2018, 09:16 PM   #22
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Well as I'm sure you know since you said 30th anniversary happy wife, happy life. Even if you need to sell a lung for it lol
I'll have to throw in a child as well. I just found out that the G05's bolt pattern is different from the F15. Looks like I'll need to sell F15's Winter setup before this car comes in. errrrr
That figures. I imagine they changed them so they can make more money. Everyone moving to the new model in snowy climates have to upgrade winters now. Smart for business, sucks as the consumer though. Maybe you can talk your wife out the pretty shifter for safe winter tires. I'm sure it will go over well lol
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