Quote:
Originally Posted by VTHoki
Took a 3 mo. hiatus to think this all over and wanted to close the loop with you guys, as I am grateful for all the food for thought previously provided. BMWFS gave me a 3 mo. extension on my 2021 X5 lease which now expires 11/2023. Have decided to purchase out the lease and wait until next year to see how 2024/2025 X5 model leasing rates turn out and hopefully parts/options and prod slots stabilize too.
Spoke with dealership, BWFS and my bank (FNB).
1) BWFS is offering 6.99% (60 mo.) term
2) Dealer is offering 8.79% (60 mo.) and 9.39% (72 mo.) 
3) Bank (FNB) is offering 6.34% (60 mo.), 6.94% (72 mo.)
I get the feeling my dealership wants to scare me into going in for a new lease while they in turn buy off my vehicle and sell it out at a profit.
For context, my 2021 X5 with M Sport Line, Premium Package has 19K miles on it. Contract Residual Value = $39K. Market Selling Value est. from Auto Trader = $55K, KBB Private Party est. = $51K
Love the car I have. No compelling reason to upgrade. Just like I skipped my iPhone upgrade this year, I'm skipping a new lease. |
Your dealer wouldn’t match BMWFS rate? I thought they could markup only 1% but for competitive reasons would usually match the base rate. Never knew someone could call BMWFS and go through them for a quote separately! TFTI