[m3rxn]

my lease is ending this month and I'm negotiating to purchase my E90.
Here is the deal: 07 E90 w/ 26,5XX miles, very clean. I negotiated 3K off residual. However, with an excellent FICO score, the APR offered is 6.09%. is this a good deal?. In addition, should sales tax be added in end lease buy out? I presumed no since tax was factored in at initial purchase price. Thanks in advance.

[mmm def]

I negotiated $3,500 off my residual plus 2 months early out of my lease, rate is in the 6's as well..other than the rate I was happy with the deal. You know the history, you like the car, I think it's a great move. I couldn't be happier with my decision.

[hwrdcur]

The 0.9% for 60 months is very attractive, and the new I-drive, 8 gigs of memory for music....... GO NEW!

[m3rxn]

Originally Posted by hwrdcur

The 0.9% for 60 months is very attractive, and the new I-drive, 8 gigs of memory for music....... GO NEW!

No thanks but I LOVE my E90!. N54 best engine award title 2 years consec. I believe.

[m3rxn]

Originally Posted by mmm def

I negotiated $3,500 off my residual plus 2 months early out of my lease, rate is in the 6's as well..other than the rate I was happy with the deal. You know the history, you like the car, I think it's a great move. I couldn't be happier with my decision.

thanks and that's what I was guessing..the used car/CPOd rate is higher than the new car APR%. Going to close the deal on Monday.

[PinkFlamingo]

Originally Posted by m3rxn

my lease is ending this month and I'm negotiating to purchase my E90.
Here is the deal: 07 E90 w/ 26,5XX miles, very clean. I negotiated 3K off residual. However, with an excellent FICO score, the APR offered is 6.09%. is this a good deal?. In addition, should sales tax be added in end lease buy out? I presumed no since tax was factored in at initial purchase price. Thanks in advance.

You only pay taxes on the payments of the lease not the entire car. You would have to pay taxes on whatever you agree to buy it out for.

[Banker335i]

what kind of payment did you have after buy out?

[deletedelete]

I thought it was 13gbs of music, not 8.

And 6% seems high. You should be way lower. With .9%, getting new might not be out of the question.

[Banker335i]

i put 10k down on my lease...i wondering what kind of payment ill have when or if i buy

[deletedelete]

Originally Posted by Banker335i

i put 10k down on my lease...i wondering what kind of payment ill have when or if i buy

10k down on a lease? Ive never heard of that. Usually the rule is no money down on a lease. You must have super low monthly payments.

[Banker335i]

Yes i do

[DK_12]

Originally Posted by m3rxn

No thanks but I LOVE my E90!. N54 best engine award title 2 years consec. I believe.

Yeah and the '09 E90 has the same engine so I don't know where you're getting at. In reference to your tax question, you'll be taxed for the purchase because in your lease payment you don't pay tax on the full value of the car. You're only paying sales tax on the monthly payment. Here's why I think you should get a new car...
1) You're going to end up paying a lot in interest. Suppose you were to borrow $25k for 60 months, your interest payment on 0.9% would be around $225/year while your interest payment on 6.0% would be $1500/year. At the end of the financing term, you'll end up paying a lot more than you would've thought.
2) It's a NEW car. You'll have maintenance and warranty covered again for 4/50k and with almost 0 miles to begin with. In general, the later the model year equals better reliability.

I guess most of this depends on your financial status and whether or not you can or are willing to pay more for a new car. However don't buy out your lease because you think you're saving money because in the end you're really not. Good luck

[m3rxn]

Originally Posted by supadan

Yeah and the '09 E90 has the same engine so I don't know where you're getting at. In reference to your tax question, you'll be taxed for the purchase because in your lease payment you don't pay tax on the full value of the car. You're only paying sales tax on the monthly payment. Here's why I think you should get a new car...
1) You're going to end up paying a lot in interest. Suppose you were to borrow $25k for 60 months, your interest payment on 0.9% would be around $225/year while your interest payment on 6.0% would be $1500/year. At the end of the financing term, you'll end up paying a lot more than you would've thought.
2) It's a NEW car. You'll have maintenance and warranty covered again for 4/50k and with almost 0 miles to begin with. In general, the later the model year equals better reliability. I guess most of this depends on your financial status and whether or not you can or are willing to pay more for a new car. However don't buy out your lease because you think you're saving money because in the end you're really not. Good luck

Thanks for clarification and excuse my ignorance on the tax issues. I am buying out this car because I have grown quite fond of it and love the bodystyle . My plans for it are longterm for use as a DD, practicality.. and years of pure driving pleasure . I could probably shop around with other banks for lower APR % but feel any difference in the used car market would be minimal. Gonna buy my baby out on Monday.

[E90ice]

Dealer told me NEVER buy-out a lease...but I understand where you are coming from.