| What's Going On? |
There are
34 guests on-line
|
|
|
|
|
|
Buy a family member's E60 at lease turn-in?
Someone in my family is turning in an E60 in February and I'm contemplating buying it as a used car.
2004 E60 3.0 with 6-spd, sport package, premium, active steering, xenon, TiAg with grey. The kicker is that it will have fewer than 10,000 very gentle miles.
The buy-out is about $39K.
Having never done this, I assume the lease holder would have to buy it, then turn around and sell it to me.
Any thoughts on if this is an option worth pursuing?
| | Reply » Buy a family member's E60 at lease turn-in? |
Well, I did speak with the sales associate who leased the car. He saw options as:
1. Pay the lease buyout amount. No wiggle room on that price. Car would still have its original 4 yr/ 50 K mile warranty.
2. CPO the car at an additional cost of $1100 for the warranty PLUS whatever came up at inspection. His recommendation to come buy a month before the lease was up and get an estimate as to what it would cost to have it CPO'd. He seem to think that cost would be high enough that the "good deal" of buying this particular car would be less attractive.
I guess the final question to answer is whether 39K is a good or a great price for a 2004 E60 6-spd with sport package, premium, active steering, cold, satellite radio and less than 10000 miles.
| | Reply » Buy a family member's E60 at lease turn-in? |
Quote: | Not so. The purchaser of a lease buyout has 10 days to resell it to avoid sales tax. | Really? Where do you find this information? Could make for some profitable after-lease sales if the terms are right. But, I don't see it as one of the valid reasons for use tax exemption at either the DMV or BoE sites.
|
Page 4 of 4 |
1 2 3 4
|
|
|
Menu
Buy a family member's E60 at lease turn-in?