04-11-2021, 10:47 AM | #1 |
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2018 M550 - Buyout or Other....
With the lease on my 2018 M5550 coming to an end - time for decisions. When I initially leased the fully loaded car, I intended to only keep it the 3 years.
Now after 36 great months and low mileage (16K - in part due to the last year), I am leaning towards buying it. I have some sunk costs - a full set of BMW winter wheel/tires, Dinan Stage 1 (v2), ceramic coated and coded. I did look at a 2018 M5 - same mileage. A $28K premium over my buyout ($52K) and cannot justify the gap - power wise my car is pretty close, technically with the Dinan. The M5 however is a much more well-planted car and is not the same. A 2021 M550 would be nice, but it is not THAT different and power wise, the boost in HP in 2020 is somewhat offset by the Dinan. How have others faired when reaching this point - the G30 has been the most reliable BMW I have owned and still seems fresh? Not really digging get into another lease.
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04-11-2021, 11:37 AM | #2 |
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Well i'm on the other side that, having bought an m550i that was at the end of its lease, and i'm very happy with it (66000km that's 41k miles)
tbh i don't really see much difference from a new car, sure you'd get more power with a new one but you've already got a lot especially with the dinan add-on; and new headlights and a bigger idrive screen sure. I got an insurance that covers repair costs for peace of mind, should the engine or drivetrain have issues.
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04-11-2021, 10:41 PM | #3 |
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I was in the same boat last November. Lease was coming up with 36k on the clock, 2018 m550. I bought mine off the lease for 2 main reasons:
1. I couldn't find anything else that I liked better. 2. BMW offered a $7500 incentive off the lease buyout. Purchase price was 43k. I was on an owners choice plan so no additional taxes. 6 months later I am happy with my choice. The only others cars i am interested in are the RS5 sportback and the upcoming M4 convertible. Its hard to replace the m550, it is simply a great car!! |
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04-12-2021, 07:51 AM | #4 | |
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Quote:
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04-12-2021, 02:28 PM | #5 |
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Ditto, ends in February. I'll likely end up with 20K or so on my 30K allowed mileage on my 30 month lease. I think the residual is in the high 30s. I'll need an incentive to buy it though, as things stand now, the car is worth less (wholesale) than the residual.
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04-13-2021, 08:02 PM | #6 |
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This makes me think of all the recent/upcoming off lease inventory out there across manufacturers generally speaking. *opens six new tabs....
I don't keep a super close eye on the market but I get the general feeling new inventory is still pretty slim for many dealers coming off this last year. I imagine if you are in a situation like this with a low mile well kept vehicle you could come out on top if you sold private after buying out the lease. Some don't have the time or want the hassle of all that would involve. Those of you mentioning having done a buyout - did you cross ref what comps are listing for?
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04-13-2021, 10:38 PM | #8 |
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With only 16k miles, definitely check Carvana/Carmax/etc. to see what they would offer. It's very likely going to be higher than the BMWFS buyout price. You can get a quote online with almost no effort, so it's a good baseline.
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04-14-2021, 09:19 AM | #9 |
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Carvana shows a $48K offer. BWM discounted buyout $52,500. Wish it was more in line with the market, but not sure I can find anything with this cars power, features, options and personally known history for that price.
Rock and a hard place....
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04-14-2021, 10:28 PM | #10 |
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That's a bummer. You may want to check Vroom as well just for kicks. For me, Vroom was $4k lower when I sold my Stinger, but others have reported that it can go the other way.
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04-17-2021, 10:39 AM | #11 |
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I had leased my 2010 535xi and bought it out at the end of the lease. I liked the car, it had relatively low miles and had been reliable. I ended up keeping it for a total of nine years, mostly trouble free. I was pleased with the decision. If you look at the total cost of ownership over however long you might keep yours if you buy it out, I think you will find it to be a reasonable financial choice. If you like the car I would go for it. --Bob
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