Getting out of an X5 lease to get a new X5m?

Kmac · 08-25-2012, 05:23 PM

Has anyone here tried to get out a a year old lease on an X5 to get into a new lease on an X5M?
I have previously gotten out of a VW lease a year into it with no negative equity- in order to purchase a new Audi q7 for my wife.

Will they argue that I Don't have any real equity to work with? Or will they be interested in creating a new lease for me on an X5M?
My current X5 is only 12 months old and has on 10000 miles on it! Thoughts?

335i_4D · 08-25-2012, 06:31 PM

They are interested at making money, nothing more.

I went to my local BMW to see if the alignment was wrong on my 2012 BMW X1, since a tire was almost bald.
And I've left the dealership several thousands poorer from the exchange, and with an X5 diesel.

Don't get me wrong, I'm glad to have made the switch, but an X1 is 45k$, got less than 30k$ in exchange...
The X1 was bought new, and I did own it for 8 months.

Talk about a money pit hobby !

jbkonis · 08-26-2012, 04:57 PM

The only real way to know is call BMW financial and ask for a payoff/purchase quote.

Look up comparable cars sold on the web, compare the difference in the two numbers, and you'll know where you stand.

If you trade it for another car unknowingly the dealer can build the negative equity in to the new deal, and make you feel like your not taking a hit. Just make sure you're clear on the numbers.

jlee · 08-26-2012, 08:30 PM

yeah the trade in on a lease is no different than if you were trading in a financed car.

I traded in an X5 diesel after 1 year for my X5M. Talk about extremes...

Jeff

BimmerEnthusiast99 · 08-26-2012, 08:44 PM

You would more than likely take a giant bath financially on the deal.

x5m power · 08-28-2012, 06:12 AM

sure i did it 5 times life is short love the m lifestyle nothing is better

08-25-2012, 05:23 PM	#1
Kmac New Member 2 Rep 11 Posts Drives: 2012 X5 M-Sport Join Date: Aug 2012 Location: Chicago, IL iTrader: (0)	Getting out of an X5 lease to get a new X5m? Has anyone here tried to get out a a year old lease on an X5 to get into a new lease on an X5M? I have previously gotten out of a VW lease a year into it with no negative equity- in order to purchase a new Audi q7 for my wife. Will they argue that I Don't have any real equity to work with? Or will they be interested in creating a new lease for me on an X5M? My current X5 is only 12 months old and has on 10000 miles on it! Thoughts?
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08-25-2012, 06:31 PM	#2
335i_4D Now in the dark side ! 65 Rep 1,136 Posts Drives: 2011 911S 997.2 Cab Join Date: Feb 2010 Location: The Great North iTrader: (3)	They are interested at making money, nothing more. I went to my local BMW to see if the alignment was wrong on my 2012 BMW X1, since a tire was almost bald. And I've left the dealership several thousands poorer from the exchange, and with an X5 diesel. Don't get me wrong, I'm glad to have made the switch, but an X1 is 45k$, got less than 30k$ in exchange... The X1 was bought new, and I did own it for 8 months. Talk about a money pit hobby ! __________________ Present: 2011 Porsche Carrera S Cab, white (Now on the dark side!) BMW X3 M40i (wifey) Past:2012 335i Sport Black, 20" 356 wheels, M Sport Aero, MPE (Sold -kinda missed) 2010 X5 35d Black fully loaded (Sold) 2007 335i sedan Antracite (Sold and missed !)
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08-26-2012, 04:57 PM	#3
jbkonis Private 10 Rep 71 Posts Drives: 17 ZCP M3, 15 X5M Join Date: Apr 2012 Location: Los Angeles, CA iTrader: (1)	The only real way to know is call BMW financial and ask for a payoff/purchase quote. Look up comparable cars sold on the web, compare the difference in the two numbers, and you'll know where you stand. If you trade it for another car unknowingly the dealer can build the negative equity in to the new deal, and make you feel like your not taking a hit. Just make sure you're clear on the numbers.
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08-26-2012, 08:30 PM	#4
jlee Captain 168 Rep 773 Posts Drives: M2CS+GTS Targa+RRS SVR Join Date: Jun 2008 Location: Washington DC iTrader: (1)	yeah the trade in on a lease is no different than if you were trading in a financed car. I traded in an X5 diesel after 1 year for my X5M. Talk about extremes... Jeff
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08-26-2012, 08:44 PM	#5
BimmerEnthusiast99 Private First Class 2 Rep 186 Posts Drives: '12 X5d; '10 335; '09 128 Join Date: Oct 2011 Location: Texas iTrader: (0)	You would more than likely take a giant bath financially on the deal.
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08-28-2012, 06:12 AM	#6
x5m power M3 V8 Power "The Last of Best" 4 Rep 234 Posts Drives: 2013 M3 comp edition Join Date: Jun 2007 Location: Manassas,Va iTrader: (0)	sure i did it 5 times life is short love the m lifestyle nothing is better __________________ M3 v8 power the last of the best
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