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  #26  
Old 02-16-2020, 01:57 PM
namelessman namelessman is online now
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Quote:
Originally Posted by quackbury View Post
Depends on the Quack. Mrs. Quack hates learning new technology. Her 2016 428 GC iThe out-the-door cost for the CPO is $22,500, which is a lot better than the discounted price to buy the high mileage 428 off lease.
Those were my thoughts too, given leased cars usually are loaded, their RVs tend to be more inflated than base car, hence it would be cheaper to acquire similarly equipped(loaded) CPO than buyout even with generous RV discount.

This brings an interesting question, namely, should retirees still lease?

My thinking is a German Honda spec'ed like my F30 [email protected]$35-$37k will be a great retiree car to buy and hold, although a Honda Touring with all safety features also work well for aging drivers.
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  #27  
Old 02-16-2020, 04:25 PM
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quackbury quackbury is offline
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Originally Posted by namelessman View Post
This brings an interesting question, namely, should retirees still lease?
It really comes down to (1.) How's the cash flow; and (2.) Do you still like cars?

My mother got her first Mercedes E320 at age 79. She LOVED that car, after a life spent driving Chrysler New Yorkers, Chrysler Imperials, then Cadillac Fleetwoods, and then a custom Ford wheelchair van when my dad got sick. We had to take the keys away at 91 when Mom had her first stroke, and I bet the car had under 20,000 miles on the odo. (She didn't trust the transport companies, so when she left Naples and came to summer in Cape Cod each year, she just rented a Taurus or the equivalent).

A friend of hers from Church bought it for his daughter. He got the deal of the century, but he'd watched out for her since Dad died, and there are things more important than money.

She could afford to lease or buy (she paid cash), but as an octogenarian it was the most fun car she ever had, and like Mrs. Quack she didn't want to be bothered learning new technology. And there was a certain comfort level for me; I was a driving instructor in MBUSA's dealer ride and drive program at the time, and an over-enthusiastic student directly ahead of me, barrell-rolled an E320 at speed in the Daytona infield. The car held up like a tank: doors all opened, etc. A great car for an elderly parent.

What was your question again? And can you get your damn kids off my lawn?
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Current BMW's:

2020 540i MSport
2017 330i Sport

Prior BMW's
2018 340i RWD 6MT MSport
2017 540i MSport
2016 428 GC MSport
2015 X1 35i xDrive
2015 X1 28i xDrive
2014 535i MSport
2014 328i SportWagon
2011 535ix MSport
2011 X5 35D
2008 ///M3 Vert
2008 X5 3.0
2007 X5 3.0
2006 X5 3.0
2006 550iA SP
2003 540iA M-Technic
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  #28  
Old 02-16-2020, 04:31 PM
Autoputzer Autoputzer is offline
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Originally Posted by namelessman View Post
Those were my thoughts too, given leased cars usually are loaded, their RVs tend to be more inflated than base car, hence it would be cheaper to acquire similarly equipped(loaded) CPO than buyout even with generous RV discount.

This brings an interesting question, namely, should retirees still lease?

My thinking is a German Honda spec'ed like my F30 [email protected]$35-$37k will be a great retiree car to buy and hold, although a Honda Touring with all safety features also work well for aging drivers.
You can't write off the lease as part of your job or business.

Some retirees run the Interstates, visiting friends and relatives. But many, if not most, stick close to home most of the time. Low annual mileage and leasing are a bad combination.

Finally, you health or body temperature might take a turn for the worse, further limiting your annual mileage. If you body reaches 60F (ground temperature) or 70F (room temperature), your annual mileage will go to zero. Neighbors of my mother leased a car in their retirement. He got sick and eventually died. The widow was stuck with the lease which became a dreaded low annual mileage lease.

Those low-mileage used creampuffs are always the cheapest way to drive a nice car.

A year or two ago, there was a guy on the G30 board selling a six year old 328i with about 10k miles on it, and it's spent most of its time garaged. I normally avoid used cars in general, and used BMW's in particular. But, my Cobalt was getting long in tooth, and this 328i would be cheaper than a Chevy Cruze, even with my big GM discount. But, it had the problematic N26 (low emission version of the N20), and he wanted somewhere around $7k more than it was worth. So, that was the end of that. I still have the Cobalt.

Last edited by Autoputzer; 02-16-2020 at 04:35 PM.
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  #29  
Old 02-16-2020, 05:27 PM
KMPFlorida KMPFlorida is offline
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Originally Posted by fshine View Post
Hello to all and thanks for the many years of wonderful info. I am struggling with my lease end decision in terms of leasing again or buying this car. I never considered buying at lease end before as I always felt like there was something better in the newer model that I really wanted and the residuals were quite high. I now have a 2017 X5 m sport and really enjoy it. I have very few miles on the car at 20k. The buy out is 41k. While I do really like the new X5s, I'm not sure the tech is so compelling as to warrant the higher lease. (Programs and rebates and MSD were all better in '17). That said, I am not thrilled with how BMWFS won't negotiate the price and am not sure the ownership/accident/depreciation risk/maintenance cost is worth it. So I am turning to the esteemed group here to talk some sense and help me figure out the right path. I have not bought a car in 20 years (I always have leased and drive low miles while we buy my wife's and those are the kid haulers) hence the struggle. HELP! ***x1f642;
I have leased last two x5's 2015 and 2018. I drive a lot and was at 46k miles on the 2018. I was considering a 2017 M Sport purchase now at end of my lease term but then drove the 2020 as far as I'm concerned there is NO COMPARISON!! I just bought the 2020 yesterday and hope it lasts forever! Love it!!! Couldn't be happier. MSRP 69.9 had all the options I want and non of my non necessities!!
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  #30  
Old 02-21-2020, 04:35 PM
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Shon528 Shon528 is offline
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Quote:
Originally Posted by quackbury View Post
We have 2 BMW's rolling off lease in the next 100 days. Our 2016 428 Gran Coupe has a residual value of $32,264.95. But when I log onto bmwfs.com/myaccount to check my payoff quote, I could buy the sucker for $28,264.95. A discount of precisely $4,000. And the weird thing is, I don't even need to go to a dealer: I can purchase the car directly from BMWFS for the discounted price. (OP, you should go on My BMW and see what your own discounted purchase price might be).

Similarly, my 2017 540i has a contractual residual value of $43,565.60. I have three lease payments remaining of +/- $750, so my payoff price today should be $43,565 + $2,250 = $45,815. Instead, My BMW is telling me I can buy the car today for $38,742.82, a $7,000 discount from the contractual residual! And I'd also avoid stroking a check for penalty miles at lease end, another $4,500 or so in savings.
My 340i lease just ended as well. Like the OP, I was debating on keeping my car or not, I actually really enjoyed it and there's no more 6MT. I had a new M340xi for a few days and it is certainly faster. I didn't have enough time to get used to the new tech and 8AT but once back in my F30 w/ rwd, 6MT, & MPPSK, it felt analog in comparison but I was comfortable. I almost like the looks of the F30 over the G20, but I turned it in an ordered an M340i anyway.

It had 32k miles on it. My contracted RV was $36,669 and the BMWFS "Customer Purchase Promotion" was $4,500. So I could've bought it for $32,169. It went to a local Manheim auction, purchased by a NC dealer (Crown BMW) for $27,300 who drove it down and had it on their lot less than 2 weeks after I turned it in. They had it as a CPO for $35k and it sold in less than a week. The kicker is that they also had another '17 340xi w/ 17k miles for the same $35k that's still sitting there.


Quote:
Originally Posted by Autoputzer View Post
Some retirees run the Interstates, visiting friends and relatives. But many, if not most, stick close to home most of the time. Low annual mileage and leasing are a bad combination.
My retired in-laws are in this category. Besides watching my kids at times and medical appointments, we can't figure where they're going that they're driving so much. They have an '08 Toyota Rav4 and we also lease a '19 Rav4 for them as well. We previously had them in a '15, and then a '17. 2 year Toyota leases, 12k mi/yr, w/ maint included for less than $150/mo. So w/ 2 cars in their household, why are we usually at just under 25k mi on each one? My wife shuttling the kids around and the occasional road trip only does 10k? Where do retirees go?
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'20 M340i (on order, ED 7/2020)
'19 MB GLS450
'07 4Runner V8 Limited 4WD

Gone: '17 340i 6mt, MPPSK, PCD 2/17, '16 GLE350, '06 LR3 HSE, '14 320i 6MT ZSP ZPP PCD 5/14, '12 ML350 diesel, '11 Accord 5mt, '10 MDX, '08 Accord 5mt, '06 Xterra 6mt, '98 528i, '95 Mazda Millenia

Last edited by Shon528; 02-21-2020 at 04:45 PM.
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  #31  
Old 02-21-2020, 05:45 PM
1968BMW2800 1968BMW2800 is offline
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Originally Posted by Shon528 View Post
Where do retirees go?
We drive in circles a lot... because we can and we don't care.
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  #32  
Old 02-21-2020, 07:13 PM
namelessman namelessman is online now
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Originally Posted by Shon528 View Post
.... we can't figure where they're going that they're driving so much.
Ferris Bueller's Day Off? There is definitely a way to pile on miles without moving.
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  #33  
Old 02-21-2020, 07:32 PM
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quackbury quackbury is offline
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Quote:
Originally Posted by Shon528 View Post
Where do retirees go?

In no particular order:
  • Casinos to play the slots (Foxwood or Mohegan Sun if they are local; Encore is too much of a hassle)
  • Friends' wakes. Lots and lots of wakes.
  • Orchids of Asia or the North Shore equivalent.
  • The dermatologist.
  • The urologist.
  • The senior center, particularly when there is Bingo.

Quote:
Originally Posted by 1968BMW2800 View Post
We drive in circles a lot... because we can't remember which way is home.
Fixed that for you.
__________________
Current BMW's:

2020 540i MSport
2017 330i Sport

Prior BMW's
2018 340i RWD 6MT MSport
2017 540i MSport
2016 428 GC MSport
2015 X1 35i xDrive
2015 X1 28i xDrive
2014 535i MSport
2014 328i SportWagon
2011 535ix MSport
2011 X5 35D
2008 ///M3 Vert
2008 X5 3.0
2007 X5 3.0
2006 X5 3.0
2006 550iA SP
2003 540iA M-Technic
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  #34  
Old 02-21-2020, 08:38 PM
1968BMW2800 1968BMW2800 is offline
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Originally Posted by 1968BMW2800 View Post
We drive in circles a lot... because we can't remember which way is home and we don't care.
Because we can. You'll find out soon enough.
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  #35  
Old 02-21-2020, 10:55 PM
Autoputzer Autoputzer is offline
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Originally Posted by Shon528 View Post
Where do retirees go?
When I was working, all my weekday errands (gym, restaurants, credit union, grocery store, Home Depot, Walmart, post office, etc., etc.) were done either during the commute or at lunch. I'd usually eat lunch near work (twelve miles from home).

Now, I have lunch with my still-working friends.. usually near where I worked. The gym, near work, is packed after lunch. So, that now becomes a special trip three or four time a week. O.k., sometimes one or two times a week. A lot of those errands become special trips.

I'd almost paid for my beaters by driving them on business trips and collecting the IRS/GSA mileage rate. We also have sick and disabled pets. That keeps us from taking trips. Our total annual mileage has gone from 35k miles/year to about 20k miles. When my 535i goes away, I'm seriously thinking about going back to two cars. I keep a beater now to prevent tourist vandalism of our BMW's, here on the Redneck Riviera. But, we're eventually moving away from tourists.

Last edited by Autoputzer; 02-22-2020 at 12:25 AM.
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  #36  
Old 02-22-2020, 07:23 AM
1968BMW2800 1968BMW2800 is offline
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Okay, fellow geezers, time for The Truth.

We lay on all the miles driving to car dealerships to test drive cars that we're never gonna buy.

We have Mario Andretti fantasies and derive tremendous satisfaction from burning out of dealership lots and doing donuts. And then going to eat real donuts, and, because our memories are shot, we go back the next day and do it again.

Because we can.

Retirement is great.
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  #37  
Old 02-28-2020, 08:59 AM
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Shon528 Shon528 is offline
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Quote:
Originally Posted by 1968BMW2800 View Post
We drive in circles a lot... because we can and we don't care.
I believe you 100%

Quote:
Originally Posted by quackbury View Post
In no particular order:
  • Casinos to play the slots (Foxwood or Mohegan Sun if they are local; Encore is too much of a hassle)
  • Friends' wakes. Lots and lots of wakes.
  • Orchids of Asia or the North Shore equivalent.
  • The dermatologist.
  • The urologist.
  • The senior center, particularly when there is Bingo.



Fixed that for you.
Yep, sounds about right.
__________________
Boston CCA 383036
'20 M340i (on order, ED 7/2020)
'19 MB GLS450
'07 4Runner V8 Limited 4WD

Gone: '17 340i 6mt, MPPSK, PCD 2/17, '16 GLE350, '06 LR3 HSE, '14 320i 6MT ZSP ZPP PCD 5/14, '12 ML350 diesel, '11 Accord 5mt, '10 MDX, '08 Accord 5mt, '06 Xterra 6mt, '98 528i, '95 Mazda Millenia
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