[trelos78]

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I'm putting my 2013 550xi on the market for lease take over. Alpine white with black interior. M sport package and cold weather package 71k MSRP. Payment is $839 a month. 26 months left on the lease with 1000 miles per month. Not looking to recoup any downpayment money but I do have a custom exhaust on it and BMS stage 1 that I can remove or leave on vehicle. I still have original parts and can work out a deal if I leave extras on. Car is garaged and driven on weekends. Great car but not practical in carrying cribs and basinets so I have to switch to an SUV.

[ezmaass]

Congrats on the baby. I'm at month 7 on our first. Oddly enough my 5 has more room in the trunk than the wife's Audi baby hauler SUV. You get real efficient at carrying only what's absolutely necessary. We also made sure the parents all had pack and plays, bottles, diapers, etc - it's more convenient to stock them up rather than haul all this crap around!

Anyway, best of luck with the baby as well as the lease sale. Have you considered returning it? Not sure what BMW would charge on an early lease return.

[trelos78]

With 26 months left, I'd still be responsible for the balance so that's not an option. I'm currently looking into the 2014 jeep grand cherokee srt8. It all depends how fast I get out of this lease.

[omaralt]

Originally Posted by ezmaass

Congrats on the baby. I'm at month 7 on our first. Oddly enough my 5 has more room in the trunk than the wife's Audi baby hauler SUV. You get real efficient at carrying only what's absolutely necessary. We also made sure the parents all had pack and plays, bottles, diapers, etc - it's more convenient to stock them up rather than haul all this crap around!

Anyway, best of luck with the baby as well as the lease sale. Have you considered returning it? Not sure what BMW would charge on an early lease return.

the bmw has a big trunk, but a horrible backseat (especially in conjunction with the comfort seats). my almost 3 yr old will not fit behind me or my wife (i'm 6'2 she's 5'8). we have to put her in the middle, which is safest, but a big pain in the ass to put in and take out. my wife's minivan is amazing at baby hauling those automatically sliding doors are a god send :P

[1HOT BMR]

Originally Posted by trelos78

I'm currently looking into the 2014 jeep grand cherokee srt8. It all depends how fast I get out of this lease.

Have you considered a 2014 Range Rover Sport? I'm trying to find one for a test drive right now. I sure like what I've read and the pictures I've seen but the SC V8 model that I would consider (0-60 in 5 sec) is not that easy to find - they seem to be selling pretty quickly and apparently they are not being discounted much, if at all.

[ezmaass]

My experience with Land Rover has been a mixed bag. They're incredibly capable SUVs... more than nearly anything on the road. However, reliability has been a big problem in my experience. My rover saw the dealer more times than I'd like to count. I'd like to go back to one (for the wife) at some point, but I'm still a bit gun shy. Plus, they're pretty darn big and terrible on gas.

[1HOT BMR]

OK, but the 2014 is All Aluminum and unibody - no more body on frame. The Sport is a bit less massive than the big Range Rover and the new version is 800 lbs lighter than last year's model. As I understand it, it is still a gas guzzler and probably just as unreliable as you experienced it. I'm really curious to see how it compares to my 2012 X5 - I've read that it drives like a sports sedan but I seriously doubt that it can handle as well as my X5 equipped with Adaptive Drive.

OK, now back to the lease: It looks to me like a pretty decent deal you are offering at about 84¢ a mile. I did the math on a Porsche Cayman "special" lease offer I got from my local Porsche dealer and it came out to $2.46 a mile.

[trelos78]

I considered the Range. Jeep has 37 cu. ft of space, range 29 and x5 23cu ft. My good friend owns an independent leasing company and even with his in house special deal range sport supercharged is 1200 a month 80k MSRP. Not worth it in my opinion. On leasetrader prices on 550s start in the high 800s going all the way to 1100. It's just been on here for a couple of days so I remain hopeful.

[Tuffyboy]

Originally Posted by omaralt

the bmw has a big trunk, but a horrible backseat (especially in conjunction with the comfort seats). my almost 3 yr old will not fit behind me or my wife (i'm 6'2 she's 5'8). we have to put her in the middle, which is safest, but a big pain in the ass to put in and take out. my wife's minivan is amazing at baby hauling those automatically sliding doors are a god send :P

Spot on assessment. These seats are so wide it's insane. Co- worker has a new Accord and he is 6'. I had to sit behind him in his normal position and I had tons of room ( I am 6'3) My 10 year old sits Indian style behind me and my 4 year old on the passenger side is cramped unless the seat is forward.

Weird design

[trelos78]

Weekend bump!!! This car is priced to go!!!

[Grover432]

Originally Posted by omaralt

the bmw has a big trunk, but a horrible backseat (especially in conjunction with the comfort seats). my almost 3 yr old will not fit behind me or my wife (i'm 6'2 she's 5'8). we have to put her in the middle, which is safest, but a big pain in the ass to put in and take out. my wife's minivan is amazing at baby hauling those automatically sliding doors are a god send :P

We have a 4 year old and 7 year old and both my wife and I need to move our front seats forward when the kids are in the car. Last night we went to dinner with friends 5'4" and 6'1"). Both were very comfortable in the back seat. It's the space behind the comfort seats - lots of knee room but no room for dangling kids feet or a rear facing car seat. Given that you (OP) will get killed on a lease takeover, can't you just live with the centre seat position for the car seat (unless you have a second child on the way before the lease is up)?

PS my wife drives a 2014 Odyssey. Easy in and out and tons of leg room. It is the vehicle of choice when driving the kids around.

[trelos78]

I don't think I will get killed on a lease take over. The price is very reasonable considering 2014s are north of 900 a month on a lease. Plus the car has a custom exhaust and a stage 1 chip that brings hp almost to 2014 standards. Because of the low mileage, I think it's more like like leasing a demo vehicle. Car only has 4300 miles on it.

[Grover432]

Originally Posted by trelos78

I don't think I will get killed on a lease take over. The price is very reasonable considering 2014s are north of 900 a month on a lease. Plus the car has a custom exhaust and a stage 1 chip that brings hp almost to 2014 standards. Because of the low mileage, I think it's more like like leasing a demo vehicle. Car only has 4300 miles on it.

Still, for $61.00/ month plus BMW incentives and low lease rates you'd think many purchasers would just choose an LCI at the dealer with the options he/she wants, but good luck.

[omaralt]

just to let you know i'm trying to get out of my 13 550i lease. MSRP: $74K. 15k/miles yr. payment is $760 + tax. but i am asking for my $5950 security deposit back (which is refunded to new owner at end of lease).. and i'm having no luck getting out of it

[zer0cool]

If one has to pay the same monthly payment to take on an existing lease as one would pay if one were to get a new car, why would one ever take on an existing lease?

Maybe someone will take such a deal, I guess there are always such people.

Adding on to that, you are trying to get rid of a car 0.5 generation behind. What do you think the car is worth if you were to trade it in? If MSRP was 71k, trade-in offer would be in the low 50s today.

Basically you are trying to get rid of a used car at new car price (0 loss for you), good luck.

[trelos78]

Originally Posted by zer0cool

If one has to pay the same monthly payment to take on an existing lease as one would pay if one were to get a new car, why would one ever take on an existing lease?

Maybe someone will take such a deal, I guess there are always such people.

Adding on to that, you are trying to get rid of a car 0.5 generation behind. What do you think the car is worth if you were to trade it in? If MSRP was 71k, trade-in offer would be in the low 50s today.

Basically you are trying to get rid of a used car at new car price (0 loss for you), good luck.

Not quite right. I AM taking a loss in this deal in the form of my down payment. I am not asking any of that back. My friend's leasing company has done several LCI deals in the low 900s with about 2000 out of pocket. There are people out there, IMO, that will want to save the money down plus about $80-100 on monthly payments for a car that is as you very well put 0.5 generations back. I have looked on various swap leasing websites and I'm comfortable with the price on the vehicle seeing what other owners are asking for their cars.

[trelos78]

Originally Posted by omaralt

just to let you know i'm trying to get out of my 13 550i lease. MSRP: $74K. 15k/miles yr. payment is $760 + tax. but i am asking for my $5950 security deposit back (which is refunded to new owner at end of lease).. and i'm having no luck getting out of it

How did you find out what the payment was plus tax? I am including tax in my payment. Did you call BMW financial? This is something that I might have to correct. I think what hurts you is the security deposit. I think it's tough to lay out 6k and wait two years to get it back. Either way, good luck with the sale!!!

[omaralt]

Originally Posted by trelos78

How did you find out what the payment was plus tax? I am including tax in my payment. Did you call BMW financial? This is something that I might have to correct. I think what hurts you is the security deposit. I think it's tough to lay out 6k and wait two years to get it back. Either way, good luck with the sale!!!

ya definitely find out what your payment before tax, because the new person may have a lower or higher tax rate. i would try logging on to your bmwfs account and see. if you cant see it than maybe call them. ya i know the $6k is whats hurting me, but i'm cool driving this car for another 2.5 yrs

[Grover432]

Originally Posted by trelos78

Not quite right. I AM taking a loss in this deal in the form of my down payment. I am not asking any of that back. My friend's leasing company has done several LCI deals in the low 900s with about 2000 out of pocket. There are people out there, IMO, that will want to save the money down plus about $80-100 on monthly payments for a car that is as you very well put 0.5 generations back. I have looked on various swap leasing websites and I'm comfortable with the price on the vehicle seeing what other owners are asking for their cars.

With respect, it doesn't matter what people are asking for their cars, it matters what they are getting.

I leased a new car (my sig) for under $800/month plus taxes with $2,500 down. There is a guy on Leasebusters (Canada) saying how he got a great deal on his 2012, now 2 model years old and has a winter set, etc with a lease takeover cost of $1,120/month. I made the same argument as an earlier post, you have to look at the car's wholesale value at present to determine whether the lease takeover is a good deal. The guy's buyout was $65,000, but the wholesale value was $52-$55,000. I got my car new for $65,000 (2013 model), .9% lease rate and $5,000 back from BMW. His car is still for sale 4 months later. Others with a cash allowance ($3,000 - $5,000) and an effective lease payment of $750.00 are moving.

The bottom line is at the beginning of a lease you are immediately under water if you have to get out of it. Contrast that with our leased 2011 Odyssey mini van. Buyout last week after 36 months was $19,300. I bought it out and sold it at wholesale to a private party for $26,500, took the $1,500 in cash from Honda and bought a new one. I had around $7,000 equity in that car. In year one, I'm sure I had negative equity as you do now.

[3rd party]

The tax is based on the total amount of the monthly payments including depreciation and interest.

In the OP's case $839 month x .9125 = $770/month w/out tax is a ball park figure w/o NYC sales tax.

[scott135i]

Originally Posted by omaralt

just to let you know i'm trying to get out of my 13 550i lease. MSRP: $74K. 15k/miles yr. payment is $760 + tax. but i am asking for my $5950 security deposit back (which is refunded to new owner at end of lease).. and i'm having no luck getting out of it

Its the sec. deposit that's killing you. Most people wanting a lease xfer don't want to put any money down regardless if it's fully refundable or not...

[scott135i]

Originally Posted by omaralt

ya definitely find out what your payment before tax, because the new person may have a lower or higher tax rate. i would try logging on to your bmwfs account and see. if you cant see it than maybe call them. ya i know the $6k is whats hurting me, but i'm cool driving this car for another 2.5 yrs

If the car is released in NY state, the person will need to pay full tax on the remaining total value of all the lease payments. The NY lease xfer double tax special. If someone is leasing out of state, they may or may not have to pay the tax. When leasing a car in NY state through BMW, tax get paid in full to NY state up front.