Purchase Dilemma

GreenThree · 10-16-2015, 01:35 PM

So I've decided on a 2016 3 series. Problem is my lease matures 8-2016

I'm -$6K equity in current lease, so trade-in to dealer is off the table. My monthly is only $350 so finishing remaining payments is most viable

kent11202 · 10-16-2015, 01:40 PM

Quote:

Originally Posted by GreenThree

So I've decided on a 2016 3 series. Problem is my lease matures 8-2016

I'm -$6K equity in current lease, so trade-in to dealer is off the table. My monthly is only $350 so finishing remaining payments is most viable

I'm lost. What do you mean by "I'm - $6K equity?" Moreover, what is your actual question?

ETA Oh, duh! Just read it again - the "dash" was actually a "negative" sign. Sorry!

I will now go to the poll......

GreenThree · 10-16-2015, 01:46 PM

Post updated with Poll

ssedha · 10-16-2015, 02:22 PM

How about letting someone else assume the lease?

F31Bimmerman · 10-16-2015, 02:28 PM

I would also try and transfer the lease if it's possible.

GreenThree · 10-16-2015, 04:23 PM

Thanks for your input so far! Totally on the fence between option 1 and 2. There is no guarantee that there will be a pull ahead program available early next year. And those programs are usually conditional: For leases maturing between specific months... Ugh

tex2670 · 10-16-2015, 07:52 PM

Quote:

Originally Posted by GreenThree

So I've decided on a 2016 3 series. Problem is my lease matures 8-2016

I'm -$6K equity in current lease, so trade-in to dealer is off the table. My monthly is only $350 so finishing remaining payments is most viable

Frankly, I'd just run out the lease term. Next summer, you are going to get better deals on a '16 than you will now.

tturedraider · 10-16-2015, 07:56 PM

What you should do is keep your car and get a 2017 model. Failing that you should find someone to assume your lease. Quite a few "lease assumers" are looking for a low payment, short term lease.

GreenThree · 10-16-2015, 09:41 PM

Quote:

Originally Posted by tex2670

Frankly, I'd just run out the lease term. Next summer, you are going to get better deals on a '16 than you will now.

This. By next summer, the 340 will have been out for about a year, and the 330's will be incoming, so they'll want to move the remaining 16 328 on the lot. That is the only motivation to wait until maturity. Otherwise, if BMW can get me out of my lease early in the first quarter of 16 sometime, and I can still score a great deal, that would be ideal. Now the excruciating wait...

Professor///M · 10-17-2015, 07:11 AM

Quote:

Originally Posted by GreenThree

So I've decided on a 2016 3 series. Problem is my lease matures 8-2016

I'm -$6K equity in current lease, so trade-in to dealer is off the table. My monthly is only $350 so finishing remaining payments is most viable

I really don't understand this.

If you're -6 how do you have only 10 months of $350 payments?

Dealers will pay 1200-2000 for a pull ahead, if your car is desirable to them.

That means 2/2016 would be the earliest they would even consider a pull ahead.

The bottom line is to wait for 5/2016 and you can get whatever you want. They'll pull you ahead then for sure

GreenThree · 10-17-2015, 05:21 PM

The polls have spoken and the results don't lie, lol. I'm going to stay the course with my 350 / mon payment. It's going to take forever, but that's the deal. Thanks for all who participated!

Brian_R · 10-18-2015, 08:18 AM

Quote:

Originally Posted by GreenThree

The polls have spoken and the results don't lie, lol. I'm going to stay the course with my 350 / mon payment. It's going to take forever, but that's the deal. Thanks for all who participated!

New Lease to slog through the winter or you existing ride. Get the pull ahead when the snow melts.

nicknaz · 10-19-2015, 05:00 PM

Quote:

Originally Posted by GreenThree

So I've decided on a 2016 3 series. Problem is my lease matures 8-2016

I don't consider that a problem, I think it is a great opportunity to custom order a car right when the 2016 model year is closing. Will probably get better deals than today, and will give some chances for early LCI issues to get updated by the time you get your car

Another factor is that there should be 330i and 330e coming out around the corner, so you could potentially get really great deals on LCI 328 (sort of like a leftover 2015 335 right when 2016 340 came out, or 2006 330 when 2007 335 came out)

GreenThree · 10-19-2015, 07:18 PM

Quote:

Originally Posted by nicknaz

I don't consider that a problem, I think it is a great opportunity to custom order a car right when the 2016 model year is closing. Will probably get better deals than today, and will give some chances for early LCI issues to get updated by the time you get your car

Another factor is that there should be 330i and 330e coming out around the corner, so you could potentially get really great deals on LCI 328 (sort of like a leftover 2015 335 right when 2016 340 came out, or 2006 330 when 2007 335 came out)

Early to mid next year timing will be perfect for obvious reasons... Just the wait that's gonna be brutal... BMW has pulled me ahead in my past two leases, so high likelihood they can get me out of this one early. That pull ahead program can't come soon enough! I've already started spreadsheeting the data. Leaning heavily towards the 340

Portimao Blues · 10-19-2015, 07:26 PM

Quote:

Originally Posted by tex2670

Frankly, I'd just run out the lease term. Next summer, you are going to get better deals on a '16 than you will now.

+1

Plus, $350 a month is a nice, low payment.

jd_perspective · 10-19-2015, 09:08 PM

just wait! it's hard to do I know but on a lease it's not worth it to pay extra to get out.
try leasetrader.com but if you think about it... it's not that far away. get through winter. then keep your eyes peeled for a pull ahead and then put your order in. maybe do euro delivery? that buys you extra time too...

besides... if your winter is like last year you won't be able to find your new car under all that snow any way

GreenThree · 10-19-2015, 09:10 PM

Makes sense. Thanks a lot guys! Now to stay busy with other distractions until Feb, haha

GreenThree · 10-19-2015, 09:13 PM

Quote:

Originally Posted by exl_ent_v6

besides... if your winter is like last year you won't be able to find your new car under all that snow any way

So true. Alpine White would blend right in, lol. Flurries in the Boston area yesterday. : )

View Poll Results: How Should I Payoff Lease?
Double up on payments: Done by 2-2016	2	5.26%
Continue with normal payment of $350/mon: Hope for pull-ahead program in 2-2016	33	86.84%
$3,500 lump sum payment today: Instant gratification, but alot of $ to get out early	3	7.89%
Voters: 38. You may not vote on this poll

10-16-2015, 01:35 PM	#1
GreenThree Colonel 210 Rep 2,110 Posts Drives: 2011 e90 Join Date: Mar 2008 Location: Boston, MA iTrader: (0)	Purchase Dilemma So I've decided on a 2016 3 series. Problem is my lease matures 8-2016 I'm -$6K equity in current lease, so trade-in to dealer is off the table. My monthly is only $350 so finishing remaining payments is most viable __________________ 2015 335xi \| Mineral Grey Metallic \| Black Dakota Leather \| NAV \| SportLine \| ZPP \| ZDA \| ZCW \| Munich Build Retired: 2008, 2011, 2013 328xi
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10-16-2015, 01:46 PM	#3
GreenThree Colonel 210 Rep 2,110 Posts Drives: 2011 e90 Join Date: Mar 2008 Location: Boston, MA iTrader: (0)	Post updated with Poll __________________ 2015 335xi \| Mineral Grey Metallic \| Black Dakota Leather \| NAV \| SportLine \| ZPP \| ZDA \| ZCW \| Munich Build Retired: 2008, 2011, 2013 328xi
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10-16-2015, 02:22 PM	#4
ssedha First Lieutenant 22 Rep 353 Posts Drives: Uber / Lyft / CTA Join Date: May 2011 Location: Chicago, IL iTrader: (0)	How about letting someone else assume the lease?
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10-16-2015, 02:28 PM	#5
F31Bimmerman Private First Class 16 Rep 188 Posts Drives: MY2014 328d xDrive touring Join Date: Feb 2012 Location: Canada iTrader: (0)	I would also try and transfer the lease if it's possible.
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10-16-2015, 04:23 PM	#6
GreenThree Colonel 210 Rep 2,110 Posts Drives: 2011 e90 Join Date: Mar 2008 Location: Boston, MA iTrader: (0)	Thanks for your input so far! Totally on the fence between option 1 and 2. There is no guarantee that there will be a pull ahead program available early next year. And those programs are usually conditional: For leases maturing between specific months... Ugh
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10-16-2015, 07:56 PM	#8
tturedraider Major General 4970 Rep 6,233 Posts Drives: 2018 340i M Sport Join Date: Apr 2006 Location: Chicago, Edgewater (via Texas & Tennessee) iTrader: (0) Garage List 2018 BMW 340i M Sport [9.38] 2020 BMW M340i xDrive [10.00] 2018 BMW 340i M Sport [8.00] 2006 BMW 330i Sport [4.50] 2004 BMW 330i ZHP [7.25] 2000 BMW 328i [6.00]	What you should do is keep your car and get a 2017 model. Failing that you should find someone to assume your lease. Quite a few "lease assumers" are looking for a low payment, short term lease. __________________ www.bmwcca.org member #388003 - Use me as a referral & you could win a one day ///M Driving School!! ___________________________________________ Last edited by tturedraider; 10-16-2015 at 10:42 PM..
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10-17-2015, 05:21 PM	#11
GreenThree Colonel 210 Rep 2,110 Posts Drives: 2011 e90 Join Date: Mar 2008 Location: Boston, MA iTrader: (0)	The polls have spoken and the results don't lie, lol. I'm going to stay the course with my 350 / mon payment. It's going to take forever, but that's the deal. Thanks for all who participated!
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10-19-2015, 09:08 PM	#16
jd_perspective Captain 344 Rep 906 Posts Drives: 2016 X3 35i M-Sport Join Date: Nov 2014 Location: Orlando, FL iTrader: (0)	just wait! it's hard to do I know but on a lease it's not worth it to pay extra to get out. try leasetrader.com but if you think about it... it's not that far away. get through winter. then keep your eyes peeled for a pull ahead and then put your order in. maybe do euro delivery? that buys you extra time too... besides... if your winter is like last year you won't be able to find your new car under all that snow any way __________________ 2016 X3 35i M-Sport 2019 440i Coupe M-Sport - Retired 2018 330i Sedan M-Sport - Retired 2015 428i Gran Coupe M-Sport - Retired
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10-19-2015, 09:10 PM	#17
GreenThree Colonel 210 Rep 2,110 Posts Drives: 2011 e90 Join Date: Mar 2008 Location: Boston, MA iTrader: (0)	Makes sense. Thanks a lot guys! Now to stay busy with other distractions until Feb, haha
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