[Bart001]

One of my local dealers (a young CA there) informed me just today that my E60 lease is extendable if I want to wait for an F10. He said I should call BMW FS, which I will do after the weekend. I have no idea if I have to do anything other than say I want to extend, as of course I can't actually order an F10 at this time. He said that this program was just announced :dunno:

 

[chrischeung]

I just called. In a nutshell:

It is for leases expiring before 12/31/09. 12-18 month extension. Meaning, minimum extension of 12 months, at current lease rates (give or take), with the option to opt out of the lease any time between months 12-18. Lease extension is processed through your dealership.

 

[Bart001]

I just called. In a nutshell:

It is for leases expiring before 12/31/09. 12-18 month extension. Meaning, minimum extension of 12 months, at current lease rates (give or take), with the option to opt out of the lease any time between months 12-18. Lease extension is processed through your dealership.

The guy I spoke with at BMW FS yesterday told me different info, but it sounded like he wasn't giving me info specific to the F10. He said that I could extend my lease 2 months 'just as a courtesy,' and that I could extend up to 4 more months 'if I have a production number or placed a deposit on a new car.' All of these would be on a month-by-month basis, which seems a better deal to me anyway than going an entire year.

But overall it sounds like apples and oranges -- two distinct programs you and I heard about.

 

[b-y]

I just called. In a nutshell:

It is for leases expiring before 12/31/09. 12-18 month extension. Meaning, minimum extension of 12 months, at current lease rates (give or take), with the option to opt out of the lease any time between months 12-18. Lease extension is processed through your dealership.

Chris:

Did you get the impression that this was for all models or just certain ones? It could certainly (a) solve my current dilemma or (b) give me another option and confuse things further! :dunno:

 

[adrian's bmw]

Chris:

Did you get the impression that this was for all models or just certain ones? It could certainly (a) solve my current dilemma or (b) give me another option and confuse things further! :dunno:

It's exclusively for 5er and X3 lessees.

 

[chrischeung]

But overall it sounds like apples and oranges -- two distinct programs you and I heard about.

Make sure you're speaking to the lease end folks.

 

[Bart001]

Make sure you're speaking to the lease end folks.

I definitely did. Do you recall the latest info as to when the F10's will hit the showrooms? My lease ends 28 Jan 2010 and 6 months would move me to the end of July 2010 which just might be long enough. I'd rather not lock myself into an entire extra 12 months.

 

[chrischeung]

I think it looks like sometime in April or May.

But you need to strongly consider this - lease rates in the first year will be relatively high - probably the highest in the model run. And with the 2 year residuals looking poor, you're going to be locking into a 3 year lease. So the question is - do you want to be paying top dollar, for 3 years, for a brand new car that may have initial bugs not fully ironed out? Since my buddies and I have booked travel for ED for April already, I'm likely not getting the F10 this April.

 

[Bart001]

I think it looks like sometime in April or May.

But you need to strongly consider this - lease rates in the first year will be relatively high - probably the highest in the model run. And with the 2 year residuals looking poor, you're going to be locking into a 3 year lease. So the question is - do you want to be paying top dollar, for 3 years, for a brand new car that may have initial bugs not fully ironed out? Since my buddies and I have booked travel for ED for April already, I'm likely not getting the F10 this April.

Yeah that occurred to me, and I've been living in denial about it I can hope you're wrong, but history tells me you're quite right.

The other thing that a month-to-month lease extension may help me do is to wait for the last of the 2010's and maybe some trunk money on them. I could do a deal now on a 2010 E60 for the $2500 lease cash (which with the higher lease rates is essentially -zero gain-) and $1500 owner loyalty credit. I could do another ED, but frankly for the total savings on a 3-yr lease, I'm just not up for it. My last ED coincided with a business trip and I didn't have to pay my airfare over and back, and turned it into a nice little vacation. Can't really do that this time

 

[chrischeung]

You definitely have all the facts. The issue at hand is just choosing the best compromise that works for you. There is no clear winning approach that works for everyone.

Overall - not a big issue. Something that can be solved with relatively little money and time.

 

[quackbury]

If you extend your lease, does that equate to extra miles, too? Example: say you have a 3 year, 36,000 mile lease. If you extend for 6 months, do you get an additional 6,000 miles?

 

[mapezzul]

If you extend your lease, does that equate to extra miles, too? Example: say you have a 3 year, 36,000 mile lease. If you extend for 6 months, do you get an additional 6,000 miles?

No, it is your current rate per year extended or pro-rated.

 

[cc4005]

If you extend your lease, does that equate to extra miles, too? Example: say you have a 3 year, 36,000 mile lease. If you extend for 6 months, do you get an additional 6,000 miles?

No, it is your current rate per year extended or pro-rated.

mapezzul, pretty sure you're saying the same thing as quackbury.

 

[Bart001]

If you extend your lease, does that equate to extra miles, too? Example: say you have a 3 year, 36,000 mile lease. If you extend for 6 months, do you get an additional 6,000 miles?

I don't know, as in my case I'm well under my allotted mileage. I'm up for a refund of unused miles (the miles between what I purchased in advance and 15k per year).

 

[carnuts3]

I think it looks like sometime in April or May.

But you need to strongly consider this - lease rates in the first year will be relatively high - probably the highest in the model run. And with the 2 year residuals looking poor, you're going to be locking into a 3 year lease. So the question is - do you want to be paying top dollar, for 3 years, for a brand new car that may have initial bugs not fully ironed out? Since my buddies and I have booked travel for ED for April already, I'm likely not getting the F10 this April.

You raise some compelling concerns for me that I, quite frankly, was avoiding. My current 5'er lease expires at the end of 2010, just in time to replace it with a F10. I was anticipating a straight forward decision when the time comes - lease an F10 for 3 yrs if the rates are good, or buy it and keep for 5+ yrs if the lease rates are too high. However, as you rightly point out, this decision is complicated by the fact that the F10 will be in its first yr of production with all the potential bugs to be worked out!! Leasing a car for 3 yrs with potential problems is not good; buying the car is even worse. Maybe the best decision is to avoid the F10 next year and lease or buy another car that has a proven track record- Audi S4? Tough decision.

 

[chrischeung]

Maybe the best decision is to avoid the F10 next year and lease or buy another car that has a proven track record- Audi S4? Tough decision.

I'm going to lease something else. And if I don't like what I leased, or something better comes along (usually the case), I'll just sell the lease.

 

[Bart001]

Maybe the best decision is to avoid the F10 next year and lease or buy another car that has a proven track record- Audi S4? Tough decision.

For me it's much more about the lease rates and willingness to deal on invoice - plus pricing than "potential bugs." I'd personally not let that issue steer me into a 2 or 3 yr lease something else I don't want nearly so much!

I saw a 550 GT today at a local dealer (it's a rep's car) and the interior looked COOL!

 

[JSpira]

I saw a 550 GT today at a local dealer (it's a rep's car) and the interior looked COOL!

It is pretty nice (although not as nice as a 7er). See the slideshow in my article for a few interior photos.

 

[JSpira]

It's exclusively for 5er and X3 lessees.

Which will work out perfectly for the Herrn Professor.

 

[obi.wan]

so is it, one year or month by month