10-24-2015, 02:34 PM | #1 |
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Anyone ever do a 24 Month Lease?
Hey All,
I heard that the new 5 series body is coming in 12-14 months? Is that correct? I assume the new m5 will be out 14-20 months from now? So, I was thinking of doing a 24 month lease on the current model. Anyone ever do a 24 month lease? Is it just a bad deal as the residuals aren't good? Any thoughts would be greatly appreciated! Thanks! O |
10-26-2015, 07:22 AM | #2 |
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The next generation 5 series will be for the 2017 model year, which means they'll start showing up here in August 2016. The M5 launches one model year later, so 2018MY appearing in August 2017.
Generally, 24 month leases are not very good deals. The sweet spot for most leases is 36 months, although sometimes you'll see a great deal on a 39 month or something like that. In my opinion, I'd go with the 36 month lease. You're better off financially, plus when the lease ends you'll be in the second model year of the new M5. As a general rule I try to avoid the first year of a new model. It was unavoidable for me on the F10 M5 and my 2013 M5 was missing a lot of nice features that showed up with the 2014 M5s.
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10-26-2015, 01:26 PM | #3 |
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Thanks for the info! So the M5 will release a year after the 5 series launch? Not at the same time? I'm getting confused with all the auto magazine articles. I'm thinking 36 month regardless. Saw the new 7 series this past weekend -- some pretty crazy new technologies.
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10-26-2015, 01:54 PM | #4 | |
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10-26-2015, 02:54 PM | #5 | |
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10-26-2015, 06:05 PM | #6 |
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Thanks Dave! I hope all's well with you and Mika.
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10-29-2015, 06:49 PM | #7 |
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It just depends on the residual, I have seen instances where the 24 month residual was 10% higher than the 36 month. So as long as you are in a state where you don't have to pay full taxes on the car, a 24 month lease would make sense in that situation.
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10-29-2015, 11:29 PM | #8 |
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I've done mostly 24 month leases.....key is to get the sweet spot length-wise. I'd rather pay $1,500 a month for 24 months than $1,400 month for 36.
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10-29-2015, 11:35 PM | #9 | |
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10-30-2015, 11:20 AM | #11 | |
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If the $200 difference is correct, then you would be paying $4800 more at the 2 year mark. Which is probably a 4 - 5 month loss, depending on how much the 36 month lease is per month. Last edited by dsad1; 10-30-2015 at 11:27 AM.. |
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10-30-2015, 01:37 PM | #13 | |
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Financially unless there is at least a 10% difference in residual the 36 month will always be the better deal. It's just if it's worth it for you to pay for that third year or not. I have always gone 36 months, but on this last car decided to go 24 months because I figured I wouldnt enjoy the car as much the third year. Even though the 36 month deal was better I didn't want to pay more for the extra months. That being said this was a second/third car not my daily. |
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10-30-2015, 08:12 PM | #14 |
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Totally understand, I'm just coming out of a 36 month Active Hybrid 5, so 6 years of essentially a similar interior is kind of worrying me (this would be my daily driver). The 4% residual difference doesn't sound that hot. I was also considering a lease take over, or even an m6 to mix it up...
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10-30-2015, 10:19 PM | #15 | |
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If you like 24 months, let your CA know. If you have a good relationship with your CA, he will probably drop you a line when a car comes in. I think it's ridiculous someone will change the car after a few months, but someone's loss / stupidity can be your gain. Lease swap is another good idea. A friend of mine picked up a 22 month lease on a 550i xdrive for the same reason as what you mentioned (didn't want to be stuck in a F car when G is around the corner). Hope this helps. Good luck.
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10-30-2015, 11:44 PM | #16 |
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Wow, awesome deal. I'll have to look around for something like that! Yes, I'm looking at swaps now as well as getting prices for leases! Thanks for the info and thoughts!
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11-05-2015, 08:52 AM | #17 | |
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11-05-2015, 08:53 AM | #18 | |
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For example, if the MSRP is $100k, I would expect that when the dealer bought back few month old car, they offered around $75k to a previous buyer. However, now that they are selling (re-lease) it again, they are doing it for around $96K. In your view, how much I should push them down approx. I am thinking of around $80k. Also, is there any financial benefit in doing a 24 month lease on a 2015 brand new, asuuming the discounts are at least 15%. I think it can be pushed to 20%. Thanks for your input Last edited by SuddenDebt; 11-05-2015 at 09:06 AM.. |
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11-05-2015, 08:57 AM | #19 | |
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SD |
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11-05-2015, 11:55 AM | #20 | |
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If at all possible, I would recommend going for the brand new M5 instead of a few months old unless you know the oriignal driver and trust that he broke in the car properly... If you are a BMWCCA member, you get another $1,000 off!
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11-06-2015, 09:00 AM | #21 | |
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Not a BMWCCA member, but will get a UDE discount ($1k) SD |
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11-09-2015, 08:25 PM | #22 |
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Just fyi, the current 24 month residual on a 2016 7 series is 12% higher than the 36 month. In that situation it would only make sense to do a 24 month lease.
Every once in a while bmw messes with the numbers to make 24 more favorable. |
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