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      04-18-2018, 08:43 PM   #9
louielouie
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Drives: '18 F80
Join Date: Jan 2016
Location: Los Angeles

iTrader: (13)

Quote:
Originally Posted by ppointer View Post
I don't lease any more. My wife got hit a few years ago, and car totaled. Check from insurance was greater than lease payoff because of down payment and condition of car. Lease company (Nissan) kept the overage, meaning we were screwed out of down payment. Never again will I lease a car OR buy a Nissan.

Your choices:

- turn it in and lose the equity. not really yours anyway at the end of the contract
- trade it in now, and apply the equity to your next BMW. it's yours today, because there is a payoff to the lease, but the car is probably worth more than the payoff
- buy it. why not? I have four BMWs, the newest being a 2011. In my experience, they age really well if you chose the right options.
My M235i lease was hit and totaled also and I was paid the difference between the appraised value and my lease residual by my insurance when I went in to sign paperwork and hand over the spare key. I also was mailed a check from BMW for my MSD. Pretty messed up they kept yours.

+1 for Carmax appraisal.
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