What would you do???

MRulz · 02-20-2009, 08:49 PM

Guys need some help and advice. I am 8 months from being done with the lease of my Z4MR. It will end in Oct,2009. I am very confused whether to buy it or let it go at the end of the lease. It is fully loaded the only thing it does not have is the extended leather.

2006 Z4 MR paid 60K including everything to get on the road. The lease buy out at the end is approx 32K.

I currently have 31K miles on it and will probably have 40K by Oct.09. If you guys where in my shoes what would you do??

Dieter · 02-20-2009, 09:15 PM

Quote:

Originally Posted by MRulz

Guys need some help and advice. I am 8 months from being done with the lease of my Z4MR. It will end in Oct,2009. I am very confused whether to buy it or let it go at the end of the lease. It is fully loaded the only thing it does not have is the extended leather.

2006 Z4 MR paid 60K including everything to get on the road. The lease buy out at the end is approx 32K.

I currently have 31K miles on it and will probably have 40K by Oct.09. If you guys where in my shoes what would you do??

I would not keep it. To many miles. Try to find one after your lease is over, with lower miles. You will also not have any warranty left anymore or pretty close to it.

I got my after a lease return with only 10000 miles for $ 31K.

epbrown · 02-21-2009, 02:31 AM

Quote:

Originally Posted by MRulz

I currently have 31K miles on it and will probably have 40K by Oct.09. If you guys where in my shoes what would you do??

If it were me, I'd work with the dealer on loweirng the buy-out price so I could keep it. Yes, you could find another car, but this one is yours - better the "devil you know" than some unknown car that looks good.

ATX750i · 02-21-2009, 02:51 AM

Im going with epbrown on this one, You know the car and have known the car since day 1. You know every bit of serivcing that it has been thru and put every mile on it. I say keep it, but to each his or her own. See what kind of deal you can work out with the dealer and go from there. Good Luck!

MVF4Rrider · 02-21-2009, 04:44 AM

+1 ^^

krnnerdboy · 02-21-2009, 10:14 AM

from what I have been told you can offer somwhere around 25k probably less with those miles at the buyout and they will sell it for sure!

SlikM · 02-21-2009, 11:34 AM

i do think you could find one for cheaper with less miles but i do agree that you must love this particular car now and knowing everything that has been done with it since day one is a clear advantage.
I say drop that price and take it back home

Buddy L · 02-22-2009, 11:31 AM

Quote:

Originally Posted by epbrown

If it were me, I'd work with the dealer on loweirng the buy-out price so I could keep it. Yes, you could find another car, but this one is yours - better the "devil you know" than some unknown car that looks good.

Dittos!!!! You know the car. Nose to nose with the dealer, and you should do fine, especially in the current economic environment.

Check Six!

ianbiz · 02-22-2009, 12:42 PM

keep it, and get an extended warranty.

RCNet · 02-22-2009, 01:55 PM

Definitely try to work with your dealer on a deal for your car at the end of your lease. I just turned in a 530xiT at the end of the lease and walked away, because I had already ordered a 535 wagon for European Delivery (still waiting on redelivery

). I've since noticed that the dealer and BMWNA have listed the car we turned in as a CPO for sale at $5k less than what my residual would have been. In the current market, there is plenty of room to negotiate. You may just have to turn it in at the end of the lease and then start over negotiating with your dealer on your car outside of the lease terms. The trick is to not bring up the subject early. You don't want to give them too much time to think about it. The worst case is that they won't "play ball" and you go with your other option of finding a good deal on a low mileage replacement.

Having said that, my father taught me to never buy a sports car 2nd hand. Even if it looks spotless, you have no idea how it was broken in and treated by the previous owner. It's a gamble, and I agree with epbrown, "it's better the devil you know"

nmulax · 02-22-2009, 02:51 PM

Quote:

Originally Posted by epbrown

If it were me, I'd work with the dealer on loweirng the buy-out price so I could keep it. Yes, you could find another car, but this one is yours - better the "devil you know" than some unknown car that looks good.

+1

blender · 02-22-2009, 04:49 PM

What he said.

MRulz · 02-22-2009, 05:21 PM

Quote:

Originally Posted by epbrown

If it were me, I'd work with the dealer on loweirng the buy-out price so I could keep it. Yes, you could find another car, but this one is yours - better the "devil you know" than some unknown car that looks good.

Thats the thing which scares me.

MRulz · 02-22-2009, 05:25 PM

Quote:

Originally Posted by krnnerdboy

from what I have been told you can offer somwhere around 25k probably less with those miles at the buyout and they will sell it for sure!

I hope soo. That will make me very happy. I appreciate you input guys.

MRulz · 02-22-2009, 05:26 PM

Quote:

Originally Posted by ianbiz

keep it, and get an extended warranty.

Has anyone ever gotten extended warranty?? If yes what are the numbers???

BZZZE · 02-22-2009, 05:28 PM

Keep it and slap on FI for more fun!

MRulz · 02-22-2009, 05:37 PM

Quote:

Originally Posted by BZZZE

Keep it and slap on FI for more fun!

OOOOOOOOOOOoooooooooohhhhhhhhhh YEeeeeaaaaaahhhhhhhhh. That thought always excites me.

TopDown · 02-22-2009, 06:10 PM

Ok calm down...here are what your options are going to be;

When you are within five or six payments of lease end date you can start shopping around for another car - dealers will offer to pay off your lease to get you into a new car.
When you are within 90 days of your lease end date you'll get a letter from the lease end manager where you leased it. One of your options will be to negotiate the purchase price below what's stated in your lease agreement. If you're willing to purchase a CPO warranty you'll get from 0.9 to 2.9% financing on your negotiated price.
When you are within 60 days of your lease end date you will have the option of re-leasing for 12, 18, or 24 months. The monthly payments will be posted on the 'Owner' section of the BMW NA web site (after you are within 60 days of lease end date). This should give you time to relax.
You can test drive an '06 Carrera S Cabriolet (like I did yesterday), and after you come to from the shock of the lease payment for a three year old Porsche with 15K miles on it, you'll get down on your knees and start hugging and kissing your Z4M - realizing what an amazing car you got for the money.

MRulz · 02-22-2009, 06:15 PM

Quote:

Originally Posted by TopDown

Ok calm down...here are what your options are going to be;

When you are within five or six payments of lease end date you can start shopping around for another car - dealers will offer to pay off your lease to get you into a new car.
When you are within 90 days of your lease end date you'll get a letter from the lease end manager where you leased it. One of your options will be to negotiate the purchase price below what's stated in your lease agreement. If you're willing to purchase a CPO warranty you'll get from 0.9 to 2.9% financing on your negotiated price.
When you are within 60 days of your lease end date you will have the option of re-leasing for 12, 18, or 24 months. The monthly payments will be posted on the 'Owner' section of the BMW NA web site (after you are within 60 days of lease end date). This should give you time to relax.
You can test drive an '06 Carrera S Cabriolet (like I did yesterday), and after you come to from the shock of the lease payment for a three year old Porsche with 15K miles on it, you'll get down on your knees and start hugging and kissing your Z4M - realizing what an amazing car you got for the money.

Great Info Thanks!

I agree with you that it is an amazing car. One of the things which scares me it the expense after the warranty expires. There are a few Z4M out there selling at a good price with low mines but I didnot come across any which had a navi and blue tooth (Z4m's which were priced good).

MRulz · 02-22-2009, 06:16 PM

If I do decided to keep the car should I deal with BMW Financial directly and not with the dealers?? Or that cannot be done.

silversprint · 02-22-2009, 06:26 PM

They may sell you the car cheaper but they probably will not pre-own certify the car. You probably will also not have a service contract.

Service contract and extended warranties on the M cars are expensive. They quoted me something rediculous like $5K.

I went thru this with an E46 lease. The residual was $36K. They would sell me the car but no service contract. I really liked the car but I don't want a BMW with 40K miles and no service or warranty.

Instead I just paid $45K for a new M coupe and gave them the M3 back.

MRulz · 02-22-2009, 06:41 PM

Quote:

Originally Posted by silversprint

They may sell you the car cheaper but they probably will not pre-own certify the car. You probably will also not have a service contract.

Service contract and extended warranties on the M cars are expensive. They quoted me something rediculous like $5K.

I went thru this with an E46 lease. The residual was $36K. They would sell me the car but no service contract. I really liked the car but I don't want a BMW with 40K miles and no service or warranty.

Instead I just paid $45K for a new M coupe and gave them the M3 back.

Thats what I heard also. It costs like 5 to 6K.

View Poll Results: What would you do??
Buy it at the end of the lease	12	44.44%
Let it go	15	55.56%
Voters: 27. You may not vote on this poll

02-20-2009, 08:49 PM	#1
MRulz Car Enthusiast 6 Rep 92 Posts Drives: 2006 BMW M Roadster Join Date: Mar 2008 Location: Alexandria, VA iTrader: (0)	What would you do??? Guys need some help and advice. I am 8 months from being done with the lease of my Z4MR. It will end in Oct,2009. I am very confused whether to buy it or let it go at the end of the lease. It is fully loaded the only thing it does not have is the extended leather. 2006 Z4 MR paid 60K including everything to get on the road. The lease buy out at the end is approx 32K. I currently have 31K miles on it and will probably have 40K by Oct.09. If you guys where in my shoes what would you do??
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02-21-2009, 02:51 AM	#4
ATX750i Captain 32 Rep 746 Posts Drives: 2009 Honda Civic Si Join Date: Jan 2008 Location: Bay Minette, AL iTrader: (0) Garage List 2003 Z4 2.5i [0.00]	Im going with epbrown on this one, You know the car and have known the car since day 1. You know every bit of serivcing that it has been thru and put every mile on it. I say keep it, but to each his or her own. See what kind of deal you can work out with the dealer and go from there. Good Luck! __________________ Johnathan 03' 2.5i Maldives Blue Roadster - SOLD 09' 2.0 Polished Metal Metallic Honda Civic Si - Current
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02-21-2009, 04:44 AM	#5
MVF4Rrider PCA, BMWCCA 102 Rep 2,058 Posts Drives: 997S, MV Agusta F4, E46 M3 Join Date: Apr 2008 Location: Las Vegas NV iTrader: (0)	+1 ^^ __________________ '08 Carrera S 6MT Guards Red/Black ext leather, Carbon fiber pkg, sport exh, sport chrono +, PASM, Nav, Bose, 19" forged turbos, red tranny tunnel '07 MV Agusta F4 1000 R 1+1, Corse Red/Silver, RG3 race pipes and factory race ECU
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02-21-2009, 10:14 AM	#6
krnnerdboy Colonel 190 Rep 2,431 Posts Drives: v10 m6 Join Date: Nov 2008 Location: so cal iTrader: (10)	from what I have been told you can offer somwhere around 25k probably less with those miles at the buyout and they will sell it for sure! __________________ F80 m3, 997 gt3, 14 ram ctd, f15 x5, drz400sm Gone:z4m, boss 302, c6 z06, m6,z3m
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02-21-2009, 11:34 AM	#7
SlikM First Lieutenant 28 Rep 335 Posts Drives: '08 BSM/Blk M Coupe Join Date: Jan 2009 Location: Rancho Cucamonga iTrader: (2)	i do think you could find one for cheaper with less miles but i do agree that you must love this particular car now and knowing everything that has been done with it since day one is a clear advantage. I say drop that price and take it back home
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02-22-2009, 12:42 PM	#9
ianbiz Back in a BMW 205 Rep 5,208 Posts Drives: 2015 335i Msport Join Date: Jul 2007 Location: Dallas, TX iTrader: (8)	keep it, and get an extended warranty. __________________ Ian
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02-22-2009, 01:55 PM	#10
RCNet Woof!! 5 Rep 111 Posts Drives: 2006 Ti Silver Z4 M Coupe Join Date: Apr 2007 Location: SW Washington iTrader: (0)	Definitely try to work with your dealer on a deal for your car at the end of your lease. I just turned in a 530xiT at the end of the lease and walked away, because I had already ordered a 535 wagon for European Delivery (still waiting on redelivery ). I've since noticed that the dealer and BMWNA have listed the car we turned in as a CPO for sale at $5k less than what my residual would have been. In the current market, there is plenty of room to negotiate. You may just have to turn it in at the end of the lease and then start over negotiating with your dealer on your car outside of the lease terms. The trick is to not bring up the subject early. You don't want to give them too much time to think about it. The worst case is that they won't "play ball" and you go with your other option of finding a good deal on a low mileage replacement. Having said that, my father taught me to never buy a sports car 2nd hand. Even if it looks spotless, you have no idea how it was broken in and treated by the previous owner. It's a gamble, and I agree with epbrown, "it's better the devil you know" __________________ 2006 Ti Silver Z4 M Coupe 2009 Deep Sea Blue 535i xDrive Sports Wagon
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02-22-2009, 04:49 PM	#12
blender Custom User Title 145 Rep 661 Posts Drives: black Join Date: Feb 2009 Location: n iTrader: (0)	What he said.
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02-22-2009, 05:28 PM	#16
BZZZE Evil Clown 16 Rep 329 Posts Drives: 2007 MZ4 Roadster Join Date: Aug 2007 Location: FloraBama iTrader: (0)	Keep it and slap on FI for more fun! __________________ '07 Z4M Roadster, Saphire Black/Black/Carbon, CDV delete. "You can say what you want about the South, but you never hear of anyone retiring and moving North."
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02-22-2009, 06:10 PM	#18
TopDown Captain 90 Rep 615 Posts Drives: 2017 G30 540i M Sport Join Date: May 2007 Location: SoCal iTrader: (0) Garage List 2002 BMW Z3 Roadster [0.00] 2007 BMW 335i Coupe [0.00] 2012 BMW 335i Sedan [0.00] 2006 BMW M Roadster [0.00] 2017 BMW 540i [0.00] 2015 BMW 428 Gran C ... [0.00]	Ok calm down...here are what your options are going to be; When you are within five or six payments of lease end date you can start shopping around for another car - dealers will offer to pay off your lease to get you into a new car. When you are within 90 days of your lease end date you'll get a letter from the lease end manager where you leased it. One of your options will be to negotiate the purchase price below what's stated in your lease agreement. If you're willing to purchase a CPO warranty you'll get from 0.9 to 2.9% financing on your negotiated price. When you are within 60 days of your lease end date you will have the option of re-leasing for 12, 18, or 24 months. The monthly payments will be posted on the 'Owner' section of the BMW NA web site (after you are within 60 days of lease end date). This should give you time to relax. You can test drive an '06 Carrera S Cabriolet (like I did yesterday), and after you come to from the shock of the lease payment for a three year old Porsche with 15K miles on it, you'll get down on your knees and start hugging and kissing your Z4M - realizing what an amazing car you got for the money. __________________ Mine G30 540i M Sport Hers F36 440i Gran Coupe
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02-22-2009, 06:16 PM	#20
MRulz Car Enthusiast 6 Rep 92 Posts Drives: 2006 BMW M Roadster Join Date: Mar 2008 Location: Alexandria, VA iTrader: (0)	If I do decided to keep the car should I deal with BMW Financial directly and not with the dealers?? Or that cannot be done.
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02-22-2009, 06:26 PM	#21
silversprint Private First Class 3 Rep 164 Posts Drives: Z4M Join Date: Nov 2007 Location: SOCAL iTrader: (0)	They may sell you the car cheaper but they probably will not pre-own certify the car. You probably will also not have a service contract. Service contract and extended warranties on the M cars are expensive. They quoted me something rediculous like $5K. I went thru this with an E46 lease. The residual was $36K. They would sell me the car but no service contract. I really liked the car but I don't want a BMW with 40K miles and no service or warranty. Instead I just paid $45K for a new M coupe and gave them the M3 back.
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