BMW 1 Series Coupe Forum / 1 Series Convertible Forum (1M / tii / 135i / 128i / Coupe / Cabrio / Hatchback) (BMW E82 E88 128i 130i 135i)
 





 

View Poll Results: Renegotiate residual value to:
$25,000 1 11.11%
$20,000 0 0%
Just walk away from it 8 88.89%
Voters: 9. You may not vote on this poll

Post Reply
 
Thread Tools Search this Thread
      04-17-2011, 04:06 PM   #1
LightShadow
Registered
 
Drives: '08 135i
Join Date: Dec 2010
Location: Vancouver, BC

Posts: 4
iTrader: (0)

End of lease - 2008 135i - should I buy or should I... go?

Hi guys,

I usually take over someone else's BMW lease. In this case, I really like the car and despite the accident (hmm, see below) I'd like to at least consider buying the car before I start looking for a new deal.

My question is: at what price would you consider this a steal? How much should I offer BMW (I'm hoping they're willing to renegotiate the residual). Or maybe you think that I should just walk away from it?

There must be a price which would make this a great deal. Good or bad, please give me your view on it.

Now the details:

2008 135i (conf. access, shift paddles, power everything, xenon, rear sensors, leather heated seats etc.)

Original lease start: May 02, 2008 ($52,895 CDN), 5.5%, $0 down, 39 months;
Monthly payments: $858.54 for 39 months (May 02, 2008 to Aug 02, 2011);
I took over this lease on: December 11, 2009 - at that time I received a cash incentive of $4,500 from previous lessee;
Purchase Option Price: $30,420 (that's if I pay what they want on Aug. 02)
Currently it has 37,000 KM (or 23,000 milles);
By Aug. 02 I expect to reach 44,000 KM (about 27,000 miles) which is right within the km allowance.

Now here's the kicker: in June 2010 this guy driving a commercial van decided to switch lanes without checking - he got me pretty good, basically damaging the driver's side. The insurance paid $9,246 CND (front bumper, fender, rear bumper, LF wheel, etc.). I look at this as being mainly cosmetics (the metal was bent... but out of the total $9.2K above, only $2.7K was parts and the rest... labour and taxes). Main parts were: door shell, front fender, wheel repair, new tire.

I'm on my 2nd HPFP. Now, knowing all this:

What new negotiated residual value would make sense for me to buy it?


Thanks for your help

Last edited by LightShadow; 04-17-2011 at 08:06 PM. Reason: Added km info.
LightShadow is offline   Canada
0
Reply With Quote
      04-17-2011, 04:42 PM   #2
luvmyone
Private First Class
 
Drives: 2013 X1 35i M Sport
Join Date: Nov 2009
Location: Ont

Posts: 131
iTrader: (1)

Quote:
Originally Posted by LightShadow View Post
Hi guys,

I usually take over someone else's BMW lease. In this case, I really like the car and despite the accident (hmm, see below) I'd like to at least consider buying the car before I start looking for a new deal.

My question is: at what price would you consider this a steal? How much should I offer BMW (I'm hoping they're willing to renegotiate the residual). Or maybe you think that I should just walk away from it?

There must be a price which would make this a great deal. Good or bad, please give me your view on it.

Now the details:

2008 135i

Original lease start: May 02, 2008 ($52,895 CDN), 5.5%, $0 down, 39 months;
Monthly payments: $858.54 for 39 months (May 02, 2008 to Aug 02, 2011);
I took over this lease on: December 11, 2009 - at that time I received a cash incentive of $4,500 from previous lessee;
Purchase Option Price: $30,420 (that's if I pay what they want on Aug. 02)
Currently it has 37,000 KM (or 23,000 milles);
By Aug. 02 I expect to reach 44,000 KM (about 27,000 miles) which is right within the km allowance.

Now here's the kicker: in June 2010 this guy driving a commercial van decided to switch lanes without checking - he got me pretty good, basically damaging the driver's side. The insurance paid $9,246 CND (front bumper, fender, rear bumper, LF wheel, etc.). I look at this as being mainly cosmetics (the metal was bent... but out of the total $9.2K above, only $2.7K was parts and the rest... labour and taxes). Main parts were: door shell, front fender, wheel repair, new tire.

I'm on my 2nd HPFP. Now, knowing all this:

What new negotiated residual value would make sense for me to buy it?


Thanks for your help
Just so you know BMW Canada will NOT renegotiate the residual value at lease end.You pay the payout....or you walk away from it!!
My advice is the buyout is too high...the car is not worth that much.
__________________
Space Grey,coral red,DINAN STG2,SSK, with1 M shift knob,shadowline grills,BMW carbon fibre strut brace,DINAN exhaust.
luvmyone is offline   Canada
0
Reply With Quote
      04-17-2011, 04:54 PM   #3
LightShadow
Registered
 
Drives: '08 135i
Join Date: Dec 2010
Location: Vancouver, BC

Posts: 4
iTrader: (0)

Wow - I had no idea they wouldn't do that. One would think that after a $10K repair, the value of the car is not anymore the same as before the accident.

Thanks for the info.
LightShadow is offline   Canada
0
Reply With Quote
      04-17-2011, 06:04 PM   #4
richsnuc
Retired
 
Drives: 2012 DSB/Savannah M-Sport
Join Date: Nov 2007
Location: NC

Posts: 158
iTrader: (0)

Walk away and consider a new one!
richsnuc is offline  
0
Reply With Quote
      04-17-2011, 07:09 PM   #5
3magine
mhmmmm
 
Drives: f30 bad man
Join Date: Nov 2008
Location: Toronto

Posts: 535
iTrader: (2)

I've got an 09 135 (48 month lease) and my buyout is $19400. Accounting for the 9 extra months of payments, my buyout would've been $25600, so I'd say walk away. Not a good deal.
3magine is offline   Canada
0
Reply With Quote
      04-18-2011, 08:33 PM   #6
jpd
Lieutenant
 
Drives: Alpine White 135
Join Date: Mar 2010
Location: USA

Posts: 572
iTrader: (0)

Another point to consider that the value of your car has been diminished by the accident. Walk Away!!!!
jpd is offline  
0
Reply With Quote
      04-18-2011, 10:52 PM   #7
Brandon26pdx
Lieutenant Colonel
 
Drives: 2011 135i
Join Date: Oct 2007
Location: Portland, OR

Posts: 1,938
iTrader: (1)

In this case you're darn lucky you leased, because you can walk away from the car financially unscathed. (Which is what you should do)
Brandon26pdx is offline   United_States
0
Reply With Quote
      04-18-2011, 11:55 PM   #8
UdubBadger
Banned
 
Drives: '04 330i ZHP
Join Date: Dec 2007
Location: Chicago Burbs

Posts: 24,716
iTrader: (22)

Garage List
2004 BMW 330i ZHP  [4.75]
2011 135i  [3.73]
2008 328xi  [4.38]
N55 is dominate
UdubBadger is offline   No_Country
0
Reply With Quote
      04-21-2011, 12:14 AM   #9
Angry3
All your 1 are belong to us!!!
 
Angry3's Avatar
 
Drives: '08 135i 'Vert
Join Date: Apr 2008
Location: Charlotte, NC

Posts: 641
iTrader: (0)

Quote:
Originally Posted by UdubBadger View Post
N55 is dominate
If you say so lol.

Wrecked car? Say adios. Had the same thing happen to mine, blasted in the rear by a drunk. No structural damage and the repair turned out well, but I'm not about the pay a buyout based on an already inflated end of model year residual to keep a car that's been hit.

BMW can have it back, wholesale it, and take the hit themselves. Shame because I would buy it if a dealer would give me a number in line with its MMR value plus $1K or so in profit, but that's not how things are done now.

Toss them the keys and find a better option.
Angry3 is offline  
0
Reply With Quote
Post Reply

Bookmarks

Tags
135i, lease buy out

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Forum Jump


All times are GMT -5. The time now is 01:15 AM.




1addicts
Powered by vBulletin® Version 3.7.0
Copyright ©2000 - 2014, Jelsoft Enterprises Ltd.
1Addicts.com, BIMMERPOST.com, E90Post.com, F30Post.com, M3Post.com, ZPost.com, 5Post.com, 6Post.com, 7Post.com, XBimmers.com logo and trademark are properties of BIMMERPOST