2005 X5 3.0i with 12,000 miles coming off lease, what should I do?

[pglover19]

Originally Posted by K.I.M.POSSIBLE

YOu can do better.. but its up to you. 29K isn't horrible, but these ars are going for 24 to 26K all dat around the dallas and houston areas with low miles and still under warranty.
I just purchased a 2005 4.4 for less than that.
I don;t know how much your lease payments were, but I'm positive if you add them to the residual price of your car, you still have time to do better on another buy but not that one.

So, is it your recommendation to first negotiate a price around 24K to 26K or less. If BMW Financial Services don't agree on my price, then return it to BMW and purchase another used BMW 3.0 or 4.4 for the price I negotiated or less.

[K.I.M.POSSIBLE]

Originally Posted by pglover19

So, is it your recommendation to first negotiate a price around 24K to 26K or less. If BMW Financial Services don't agree on my price, then return it to BMW and purchase another used BMW 3.0 or 4.4 for the price I negotiated or less.

Yes!! IF it works you will be in gret shape!!

YOu have a 50% chance of stealing your own car if you ask,
and a 100% chance of paying what they want if you don't ask.

Regardess to what they are worth by KBB and NADA, The fact is you can buy one at a lower price.. Although thinking about it further, you have only 12K on yours was a bonus to yourself with a 29K residual...

IF you Keep yours, you may have just as good of a deal because it only has 12k on the clock. Most others will have at least 24 to 36 on the clock.

Look at it this way.

1. you already know all about your car in terms of how it was driven and what it needs,

2. You are still under factory warranty for at least another 9 or 10 months.

3. At 29K you are still 3 to 4 K under average book.

OR...

1. You find another deal somewhere on a newer X with low miles,

2. It will still be under warranty, so no worries there... Better if you can get and 06 which you can, for under 30K.

3. You will still be under Average book Especially if you get an 06,
AND you will be in a New ( different ) car.

4. this breaks you from the grip of leasing...

You make the choice....

[sarnomel99]

I would look it up under NADA.com it is the book all the dealers use. If you got a smoking deal by buying it and you haven't had any mechanical issues with it, then ya why not buy it. If you don't get a deal and because of the accident I would get another one that's under warranty. Read all my posts, lol. all after the car went off of warranty it might change your mind, however, I do believe I have a lemon on my hands...

[bigx5er]

I'm in a similar position but looking at buying a used 2006. Locally I found one for $28.5K with 26K miles. That is without negotiating.

The best way to figure out the true value is pulling the Manheim values. Those are the auction prices. There are many used X5s on lots, so the auction is the only place for them to go.

I'm going to do some digging and try to get the auction prices. For a 2005 with low miles, I'd say something around 26K is fair under the current market.

Prices are falling like crazy, I was going to buy a new X5 but decided I could get a warranty and low miles at just about half the cost. I've owned the E53 and loved it.

[K.I.M.POSSIBLE]

Originally Posted by bigx5er

I'm in a similar position but looking at buying a used 2006. Locally I found one for $28.5K with 26K miles. That is without negotiating.

The best way to figure out the true value is pulling the Manheim values. Those are the auction prices. There are many used X5s on lots, so the auction is the only place for them to go.

I'm going to do some digging and try to get the auction prices. For a 2005 with low miles, I'd say something around 26K is fair under the current market.

Prices are calling like crazy, I was going to buy a new X5 but decided I could get a warranty and low miles at just about half the cost. I've owned the E53 and loved it.

+1
and the reason why I said you can do better...

[pglover19]

Originally Posted by K.I.M.POSSIBLE

+1
and the reason why I said you can do better...

If anyone has access to the Manheim auction system, please post a sceenshot of some closed Manheim auctions which similar specs as my vehicle. Those specs are listed on my first post in this thread.

Also on the other BMW forum, someone indicated that they have been able to negotiate with BMW Financial Services as much as $5-$10K below residual value. Wow... that would be awesome... I guess I need to know based on my specs, what this vehicle is selling at auction. Once again, I am approximately 4 months away from my maturity date (11/16/2008).

[2Fast455]

I went the other day looking to trade in an 04 X5 3.0 for a 911 c4s and was offered $15100.00. I think you may be better of returning the truck and buying another for less than your residual.

I got this info from Tarry at leasecompare for a basis on value.

2004 BMW X5 3.0i

Above Average: $22,291 - Mileage: 31,420
Average: $18,579 - Mileage: 60,755
Below Average: $14,867 - Mileage: 90,090

Total Sold: 61

[radelow]

Don't buy it for that....that's fer sure.

[pglover19]

Originally Posted by 2Fast455

I went the other day looking to trade in an 04 X5 3.0 for a 911 c4s and was offered $15100.00. I think you may be better of returning the truck and buying another for less than your residual.

I got this info from Tarry at leasecompare for a basis on value.

2004 BMW X5 3.0i

Above Average: $22,291 - Mileage: 31,420
Average: $18,579 - Mileage: 60,755
Below Average: $14,867 - Mileage: 90,090

Total Sold: 61

So, how will Tarry be able to help me on my decision. I definitely will not paid the residual value based on the recommendation on this thread...

So what is a good offer to counter with.... Once again, I am 4 months away...