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      09-15-2021, 07:48 AM   #1
Oldgixxer
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2020 M550i-saying goodbye

Took home my leased '20 M550i in January of 2020,and currently have 16,400mi on the clock. Wish I could say it was a great experience. However my 550 has been nothing except a huge headache since I took delivery.

Has been back to the dealership(s) 11 times since for warranty/service to fix everything from drivetrain malfunction(s),several electrical issues(frayed main wiring harness from factory),coolant leaks,etc,etc and the final straw was when it left my family and I stranded at 9pm on Mothers Day after a nice dinner. Had to pay $90 for an Uber and waited until midnight for it to arrive as there was literally no other means to get us home. I did get some pretty sweet loaners though lol: M8 Comp(got this one twice),M850i,(2) 740's,X5 M50i,the other loaners were nothing exciting.

I capitalized on the ridiculous car market & sold it back to BMW at my new local dealer(we since moved out of NY and headed South) for a nice profit and got out of my lease.

After much deliberation my wife and I decided to give BMW one final chance before moving on to a different German manufacturer;I'll be taking delivery of a '22 X3MC at the Performance Center in a few weeks.

I'll definitely miss the instant torque and pull of the V8TT but I'm done w the 550i. Got some good Dragy numbers and was thoroughly impressed with the acceleration.

Fingers crossed the X3MC doesn't have issues like this as well,if it does I guess thats on me since I chose to stick with BMW.

Gentlemen,I bid you farewell
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      09-15-2021, 07:58 AM   #2
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Quote:
Originally Posted by Oldgixxer View Post
I capitalized on the ridiculous car market & sold it back to BMW at my new local dealer(we since moved out of NY and headed South) for a nice profit and got out of my lease.
Did I read this as you sold a one year into a lease vehicle back for a profit?
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      09-15-2021, 08:28 AM   #3
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Quote:
Originally Posted by ksoze View Post
Did I read this as you sold a one year into a lease vehicle back for a profit?
Technically will be 2yrs(it's a 3yr/36k mi lease) I've had the 550i this January. But yes,you did read that correctly,I made $3200 profit selling the leased car back to BMW. Quite a few have done it. I shopped the car to other dealers,including non-BMW dealers and the next highest offer was a local Honda dealer. Carvana,Carmax,Vroom,etc all offered me more than my payoff.

There new car inventory is pretty much non-existent as I'm sure you know,the new car dealerships(in my area at least) are making a pretty healthy profit selling pre-owned cars. We also had a '19 Ford SUV(not leased) that we shopped around for shits and giggles and ended up selling that to BMW as well for a very nice profit and ordered a '22 430i convertible for wifey as well. Times are great!!
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      09-15-2021, 10:48 AM   #4
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Quote:
Originally Posted by Oldgixxer View Post
Took home my leased '20 M550i in January of 2020,and currently have 16,400mi on the clock. Wish I could say it was a great experience. However my 550 has been nothing except a huge headache since I took delivery.

Has been back to the dealership(s) 11 times since for warranty/service to fix everything from drivetrain malfunction(s),several electrical issues(frayed main wiring harness from factory),coolant leaks,etc,etc and the final straw was when it left my family and I stranded at 9pm on Mothers Day after a nice dinner. Had to pay $90 for an Uber and waited until midnight for it to arrive as there was literally no other means to get us home. I did get some pretty sweet loaners though lol: M8 Comp(got this one twice),M850i,(2) 740's,X5 M50i,the other loaners were nothing exciting.

I capitalized on the ridiculous car market & sold it back to BMW at my new local dealer(we since moved out of NY and headed South) for a nice profit and got out of my lease.

After much deliberation my wife and I decided to give BMW one final chance before moving on to a different German manufacturer;I'll be taking delivery of a '22 X3MC at the Performance Center in a few weeks.

I'll definitely miss the instant torque and pull of the V8TT but I'm done w the 550i. Got some good Dragy numbers and was thoroughly impressed with the acceleration.

Fingers crossed the X3MC doesn't have issues like this as well,if it does I guess thats on me since I chose to stick with BMW.

Gentlemen,I bid you farewell
I'm sorry you had that experience.

I'm 5000 miles into my 2021 m550, and have had no issues so far (besides taking it in for the 0-60 acceleration improvement).
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      09-15-2021, 04:12 PM   #5
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There is no better time than now to sell to dealerships, especially for a family sedan. Good move to get rid of that and take the profit.

It's sad though to see so many issues can/have happened on that car, haven't you thought about filing a lemon?

X3MC should be more reliable in my opinion.
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      09-15-2021, 04:50 PM   #6
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Yikes that’s a pretty poor experience you had with the car. Glad you’re out of it!

Hopefully BMW gave you a deal on the X3MC for some of that trouble…

According to the blurbs from BMW Roadside they should have been able to cover that Uber for you, but it definitely isn’t a situation you should end up in on a new car.
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      09-15-2021, 04:55 PM   #7
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Sorry to hear your troubles. My 2021 M550 has been rock solid so far. Luck of the draw, as they say.

By the way, don’t doubt your ability to get out ahead in this used market. We are picking up a new 2022 X5 Saturday and came out of the deal with $5600 of equity from our 2019 X5 that was leased (only 23,000 miles on it).
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      09-16-2021, 08:19 AM   #8
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Quote:
Originally Posted by redblaze View Post
There is no better time than now to sell to dealerships, especially for a family sedan. Good move to get rid of that and take the profit.

It's sad though to see so many issues can/have happened on that car, haven't you thought about filing a lemon?

X3MC should be more reliable in my opinion.
We spoke with BMW Corporate regarding all the issues and expressed we no longer feel safe with the car and want them to A)-buy it back or B)-replace it with another M550i. Their stance remained the same,basically: it's under warranty so whats the big deal?. I did not have the energy nor did I want to deal w the stress to pursue a Lemon Law vehicle. I did that with the 1st brand new vehicle I bought and it was a nightmare.

Quote:
Originally Posted by LogicalApex View Post
Yikes that’s a pretty poor experience you had with the car. Glad you’re out of it!

Hopefully BMW gave you a deal on the X3MC for some of that trouble…

According to the blurbs from BMW Roadside they should have been able to cover that Uber for you, but it definitely isn’t a situation you should end up in on a new car.
Yes sir,got $3500 off MSRP on the X3MC which the dealer had one allocation for. I was happy with that as the 8 or so other dealerships I shopped wouldn't budge on the LCI.
And honestly,I was so angry at the incident on Mothers Day,which was made even worse by having to listen to my mother in law bitch the entire time how it was so hot and humid while being stranded,I would have told BMW to shove the $90 up their azz lol.

It all worked out in the end. It's a shame as I really loved this car and it always put a smile on my face when I mashed the throttle. Mid 11's@120+mph in the 1/4mi &0-60 in the mid 3s on the Dragy for a stock family sedan should put a smile on even a grumpy old man
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      09-16-2021, 08:20 AM   #9
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Quote:
Originally Posted by MikeElmendorf View Post
Sorry to hear your troubles. My 2021 M550 has been rock solid so far. Luck of the draw, as they say.

By the way, don’t doubt your ability to get out ahead in this used market. We are picking up a new 2022 X5 Saturday and came out of the deal with $5600 of equity from our 2019 X5 that was leased (only 23,000 miles on it).
Im hoping your experience is much better than mine. The market is insane,once in a lifetime most likely
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Gone but not forgotten:
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      09-16-2021, 10:13 AM   #10
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Quote:
Originally Posted by Oldgixxer View Post
Quote:
Originally Posted by MikeElmendorf View Post
Sorry to hear your troubles. My 2021 M550 has been rock solid so far. Luck of the draw, as they say.

By the way, don't doubt your ability to get out ahead in this used market. We are picking up a new 2022 X5 Saturday and came out of the deal with $5600 of equity from our 2019 X5 that was leased (only 23,000 miles on it).
Im hoping your experience is much better than mine. The market is insane,once in a lifetime most likely
Sorry for your bad experience. That sucks. The market is crazy but goes both ways. Purchasing something new is seeing little to no discounts when you could have maybe got 8-10% off before (incentives not included.. which also seem to be lower now too). Maybe a wash at best unless real lucky.
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      09-16-2021, 05:38 PM   #11
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So sorry to hear of your experience. My M550, by contrast, is the best car I have ever owned, with no problems except active shutters and an oil pan leak, both fixed under warranty. Have over 45K miles on it now. Hope you fare better with the X3. Congrats on working the deal!
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      09-17-2021, 12:06 PM   #12
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Sorry to hear the bad experience and glad it all worked out, but I do wish you sold it back and ordered another M550. It is such a nice ride and problem free for me. X3MC is no slouch too, but it's a completely different experience driving an small SUV vs. an M550.
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