'08 M3 coming off lease: buyout or get a new one....

[warden]

He's the deal and I'd love some input from others.

I have an '08 e92 M3 coming off lease at the beginning of December. It's SSII/Black extended and loaded, minus DCT. Great car.

Should be just shy of 30K miles at that point.

Buyout price is currently $39600.

I love the car and only complaints are that it guzzles gas (meaning I have to fill up too often) and, on the occasions when I need to talk on the phone in the car, it's too loud.

So a few questions:

1. Is that a good price on this car? Seems underpriced to me. And if I were to buy it, I think I could get my dealer to CPO it for the same amount or less. It's in great shape.

2. For those with current model cars (and better if you've had an '08), thoughts on the differences between them and the '08s?

3. Am I insane for thinking about a 135i, 335d, or something like that? I think I might be....

Thanks. I have time, but if I'm going new, I then have to decide between taking of the lot and ordering and I'm getting close to the ordering horizon...

[GOLFFRR]

Just boils down to you. If you really love the car you should keep it. But if you are looking for something a little more practical you can't go wrong with the 335d those are sweet. I think i might get one of those next, heard nothing but great things about that car. Good luck with your choice either way you win.

[ring007]

turn in the '08 and buy '11 and keep it for a long while because it will be the last non-turbo v8 M3 for at least 8 years ;0)

[richardbb85]

Originally Posted by ring007

turn in the '08 and buy '11 and keep it for a long while because it will be the last non-turbo v8 M3 for at least 8 years ;0)

agreeee

[warden]

Originally Posted by ring007

turn in the '08 and buy '11 and keep it for a long while because it will be the last non-turbo v8 M3 for at least 8 years ;0)

I'm tempted, trust me. But turn in or buy it and trade it in?

Edmunds suggests that I'd get something like $46K on the trade in....

Decisions, decisions....

[DadzM4]

The only real change from 08-09 and up is the iDrive. You may be able to negotiate a slightly better lease end buy then what they have. The Dealer you turn into is offered first chance to buy the car if you don't, but if they don't buy it off to auction it goes, where more then likely they will get less for it than your lease end value. Call them and ask, can't hurt. My Dealer on my last car wanted to buy the car at lease end, CPO it then sell it back to me. I don't think they are able to CPO it any other way and it is not cheap. So your other option would be to by the extended warranty and maint. plan, which should run you around $8k for both, which I would be willing to guess would be slightly less than what you could buy the car back from the dealer after they CPO it.

[M3 Esq]

Originally Posted by stingray23

is the buy out price at the end of the lease negotiable?

Yes, the buyout is negotiable. You can deal directly with BMW FS and cut out the dealership if you are so inclined.

[Tak555]

another option would be to negotiate the buyout price lower, and then turn around and sell it (vs. trading it in). you should be able to get more for it that way, no?

[positiveions]

Stingray, I got 2k off my lease buyout on my 'ol ZHP. My mom was with me to pick me up, she was like: ask for 3k.

[wontonbomb]

Originally Posted by stingray23

Thats great. When I picked up my M3 I asked the manager that was going over the paper work with me if the buyout price is negotiable and he said no. what a cock.

LOL, wtf?

I leased a 07 E60 M5 and the residual was $72K. I had no intentions on purchasing the vehicle but the dealer offered it to me for $54,500. I would've taken the deal if I didn't already order my current E90 M3 for Euro Delivery. D'OH!

I still miss the torque and all-out awesomeness of the M5.

If I were the OP, I would negotiate for a buy-out. The M3 is an awesome car!

[ring007]

From my experience a couple years ago on a e46 M3 lease return, it is not so much negotiable as BMWFS will tell you what they are willing to sell it for. They aren't stupid, if the residuals too high, they will offer you something more attune with the current market. At the time of my '06 M3 return, I think they offered $8-10k off the (70%+) residual. But that was back when they were writing leases with crazy high residuals. I think the '08s were done at much lower residual levels. Never know until you call and ask BMWFS. Worst thing they can say is no discount.

Originally Posted by stingray23

Thats great. When I picked up my M3 I asked the manager that was going over the paper work with me if the buyout price is negotiable and he said no. what a cock.

[TailHappyM3]

I'd keep the car and buy it out even at that price but add some extended warranty. The major depreciation is already accounted for plus you know that car. Why start the cyle of depreciation all over again for essentially the same model?? Makes no sense unless you wanted a different transmission or body style etc..

[dimabimmer]

Lease a new 2011 with Competition Package! ... it'll be cheaper than buying out '08 M3, which you will try to sell when it's paid off anyways... Rolling into the next lease is the way to go!

[positiveions]

Originally Posted by iczer34

LOL, wtf?

I leased a 07 E60 M5 and the residual was $72K. I had no intentions on purchasing the vehicle but the dealer offered it to me for $54,500.

because they know that resale value on the E60 M5 have taken a dump. That car is not attractable as was the E34, and E39 M5.
I would even negotiate the 54500 down to 50k. They will take it.