X6 residual value
i noticed the residual value of the X6 after 36 months is 46% (2009 lease rates) in fact, it is in the lowest residual value bracket of all bmw models. does anyone know why it's so low?
i was considering leasing one, but it seems paying 54% for 3 years of use (actually more than 54% if you factor in interest, taxes and other fees) is a bit steep, especially to walk away empty handed.
now i'm thinking that it's better to finance cars that depreciate quickly. at least you have the car in the end.
anyone have any thoughts on this?
In this climate you will be lucky to get that after 3 years. Example, my 635D Sport was bought by me for 47.5K 2 months old ( ex-directors car) with 2K miles on the clock, this car retailed at 61K with the extras on it, the dealer I went to for my PX deal assumed I had paid a lot more for it.
I PXed it for £44,7835 in a forward valuation deal, that ment I only lost £2800 over almost 10 months :) NOW in the dealership today my same car (635DS) is sat outside having dropped to 34K trade:cry: thats nearly HALF price in UNDER ONE YEAR:yikes: the car was an October 2007 reg.
The Car is emaculate in every way and low mileage.
I dread to think what an X6 35D will fetch in two years never mind three.:tsk:
wow, that is crazy depreciation.
now i'm thinking i should buy a used X6! if i saw one for sale that was 1yr old with low mileage at nearly half the original price i would definitely buy it.
The X6 has low residuals due to the fact it is a niche/ status vehicle (that is how BMW sees it and the rest of the market as well) They will be hard to sell in a few years b/c no that many are looking for a large 4 seater. The other factor is the fuel situation.
Even though the depreciation is bad with the lease at least you are hedged against the true market. In the end you know what it is going to cost you and the rest of the money you would have used to finance you can put in a mattress or something!If the market is higher when the lease is up, sell it outright and make some money back, if it is lower you already made out. If it is the same buy it if you wish or move on. I always believe buying is stupid b/c a car is a depreciating asset and in the end you never really "make" money and in these times it makes more sense to save that extra money you would have spent on the car rather than leasing it. Let BMW take the hit, which it will some SUVs have been taking a 50% hit in the first year, I was talking to a wholesaler yesterday and he was amazed what he can buy today, the closet vehicle is the RRsport and he said it is at most 50% right now, so the X6 is not far behind.
Best of luck!
All models will adjust for 2009. Any low values remaining are to clear out 08's.
BMW will push financing and remove incentives for leasing.
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