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Discussion Starter · #1 ·
I have a 03 CB which is leased for 3 years ending 6/06. The car has 8000 miles and is in perfect shape. The buy out at lease end is approx. $42,000. Now my question..........At the time I leased the car I was able tp put down multiple security deposits(MSD) ie. ten totaling about $11,000. I did not put down any other money (read closed cap reduction) other than the first payment and the MSD's.

Would it be better to find out the buyout as of today, buy it then sell, or will I lose too much money. I think the value of the M5 at end of lease time will be higher than $42,000. Any thoughts would be appreciated.

TIA
 

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Personally, I would find out what the current buyout of the car is to date. If it was up to me I would buy out the car now instead of waiting to the end of the lease
 

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I agree with Beamer_usa that you should find out the current lease buy out amount to determine if you want to get out of the lease now and sell the car. It would be interesting to find out the buy out amount regardless.
 

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Are you looking to buy it now and sell it now...

or buy it now and sell it later?

If you do the latter, you pay sales tax. If you sell within 30 days no tax (CA at least, some other states may vary)
payment.

BTW, the current buyout is different for every least- it depends on the cap cost, the least end residual (or least end buy out) and lease factor. It is generally the least end buy out (in this case 42k) plus the portion of the remaining payments that would go towards principal reduction (ie they don't charge you the interest for the next 12 months).

My guess is that it will be close to a wash, the big unknown will be how available the E60 is and if it has a depressing factor on the last E39 m5 (your 2003 model). My guess is you might make 6k now or 6k later...

A
 

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Discussion Starter · #7 ·
gra8fuldd ed said:
Isn't Florida ... (You know, Jeb Bush Country) ... Sales Tax and State Income Tax Free?? Similar to that of Oregon and Neveda?
Florida is state income tax free but with a 6% sales tax. I am in a situation where the car will be used even less than the 4000 miles/year I have driven so far. The $1100/month I pay to use such a great car so infrequently seems like a waste.

My thought was to purchase it now and sell before the new M5 arrives perhaps ?????? saving before the depreciation increases. It very well may be a wash and if so I would keep the car..I do love it but a used 997 S would not be a bad vehicle to step into in one year after my current lease expires.

:confused2
 

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Sounds like a plan. If I were you I'd keep the M5 until YOU are certyain you can either get a usewd 997S ... or ... a New e60 M5 ... Which I hear will NOT be here in the USA until late November ... early December 2005. Apparently there are some emissions or EPA problems that have risen its ugly head.
 

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P986S said:
Florida is state income tax free but with a 6% sales tax. I am in a situation where the car will be used even less than the 4000 miles/year I have driven so far. The $1100/month I pay to use such a great car so infrequently seems like a waste.

My thought was to purchase it now and sell before the new M5 arrives perhaps ?????? saving before the depreciation increases. It very well may be a wash and if so I would keep the car..I do love it but a used 997 S would not be a bad vehicle to step into in one year after my current lease expires.

:confused2
1100 / month for 3 yrs with 11K deposit and a residual of 42K ?? Clue me in here. That does not seem like such a good deal. (Unless I am reading it wrong) Do you get the 11k back or something? Not picking on you but I have not seen a lease deal like that in CA.:confused:
 
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