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Ask-A-Dealer
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  #1  
Old 03-08-2011, 04:09 PM
TORONTO335i TORONTO335i is offline
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Location: Toronto
 
Join Date: Mar 2011
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Mein Auto: 2008 335i C
2008 335i Coupe Buy Out OR Walk away ADVICE NEEDED!

Hi people, Im hoping I can get some real sound honest advice.

My 2008 335i coupe jet black AUTO w/ premium & sports package & Logic sound upgrade NO NAVI lease is coming to an end in 3 weeks.

My payment has only been $895 including tax x 36 months which is on the low average compared to most leases on this exact vehicle at the time & most consumer have been paying at least $100++ per month for this car..

My buyback is $35,600 + tax.

My car was priced out at I believe $60,400 or something I believe before taxes ofcourse.

As far as I know I got a pretty good deal on my vehicle because the residual was high excellent & lease rate at the time was also low at 3.9% or something + I received about $1000-$2000off the msrp.

I only have 55,000kms on it.

Im wondering if I I should keep it or give it back?? Ive checked on Autotrader etc. & blackbook & my exact car seems rare & whatever is available or very close to is selling for much much more. Am I mistaken?

Im thinking if I keep it & drive it for at least 1-2 yrs I can still recover at least MIN market value or more or market value.

Thanks for your time. Hope I can get some help..

I realize that there are always other variables & that everyone case to buy out or walk away will be different depending on their situation as well..

But What the main essence of my questions all boils down to my thought that I can buy this car out now & than sell it later and make a good profit on it..
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  #2  
Old 03-08-2011, 04:16 PM
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mclaren mclaren is offline
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Location: Central Florida
 
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Mein Auto: 2013 650i Coupe
The smart thing to do is turn it in and lease a new one. I've done a lot of projections and comparisons of buying out a car like yours vs turning it in and leasing a new one. The bottom line is leasing a new one is clearly best. For one thing you could have big problems when out of warranty, for another something could happen in the next few years that would really hurt the value of your car. That could happen with a new one but that would be BMW's problem.
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  #3  
Old 03-08-2011, 04:19 PM
335audioman 335audioman is offline
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Location: Bay Area, CA
 
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Posts: 139
Mein Auto: 2007 Z4M Coupe
Walk away. It's really not a question in my opinion. There are too many risks involved with keeping the car any longer for you. The lease rates on new Bimmers are good right now, so take advantage of it.
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  #4  
Old 03-08-2011, 04:29 PM
soupcon soupcon is offline
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Location: south california
 
Join Date: Sep 2008
Posts: 256
Mein Auto: 08 m5
when is the warranty up?
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  #5  
Old 03-08-2011, 05:40 PM
TORONTO335i TORONTO335i is offline
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Location: Toronto
 
Join Date: Mar 2011
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Mein Auto: 2008 335i C
The Warranty is always of course 4 yrs 80,000. I will still have another FULL 12 months for warranty. I only have 55,000kms on it.

I think I forgot to mention that I am from TORONTO... & everyone that has replied I believe are from the USA with different programs perhaps which changes things big time... but than again not as much anymore because the C$ Is rocking!!

Here in Canada to lease another new 335i coupe & not even a 335is with a very similiar equipped & sure ofcourse there has been minor improvements between 2008-2011 & minimal in the end WILL STILL COST ME MORE... & the 335i will be completely redesigned next for 2013 I believe.. so I dont think its worth it..

And As I mentioned I cannot find 1 car exact trim that is identical to mine that is selling on the used car market for anywhere CLOSE to my BUYBACK Figure of $35,000.
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  #6  
Old 03-08-2011, 05:43 PM
TORONTO335i TORONTO335i is offline
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Location: Toronto
 
Join Date: Mar 2011
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Mein Auto: 2008 335i C
Oh Boy silly me I should have posted my original question on a CANADIAN based Forum dont you think?

Is there a CANADIAN Forum available on this site?
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  #7  
Old 03-08-2011, 06:29 PM
MustGoFast MustGoFast is offline
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Location: Menomonee Falls, WI
 
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Mein Auto: 2011 BMW 335is
If your info is right it sounds like you don't need our advice. Personally I have no idea how things work up there... Sorry
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  #8  
Old 03-08-2011, 07:19 PM
soupcon soupcon is offline
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Location: south california
 
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sounds like you have made a good analysis.... but if the residual value is less than market, why not buy it, sell it for a profit, and then lease something new? i just personally wouldn't want one of those off warranty.
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  #9  
Old 03-09-2011, 07:22 PM
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mclaren mclaren is offline
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Location: Central Florida
 
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Mein Auto: 2013 650i Coupe
I knew you were from Toronto when I posted my advice, it ain't close, get a new one.
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