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My lease on my 2000 M5 is coming to an end in a few weeks. I have not found anything new and exciting to get other than the new 911S. However, I still love my car and wouldn't mind keeping it for another two years. The lease buy out is $39K, but I don't want to tie my cash into the car. One option obviously would be just to let this one go and then leasing a 2002 or so for the next two years.

Has any of you ever re-leased a car? I have moved away from where I purchased a car and thus am unable to go back to them to discuss. I have not talked to the local BMW dealer to see if they would assist.

Your thoughts?
 

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In my opinion, it's just not worth leasing a 5 year old car. The older the car the more it will cost to re-lease. At this point your better off financing the $39k for the buy-out at lease end. Shop around for interest rates, keep making your monthly payment, then when you decide to sell or trade-in, pay off the note and your done. My 2cents, hope it helps:cheers:
 

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My thinking behind it is that I doubt very seriously your 2000 M5 is worth 39k wholesale. I would take it to a couple of dealerships and see what they would give you on trade. That should give you a better idea of what your car is really worth. I had a friend trade his 2001 last year with only 14,000 miles and he only got 45k. That's why I doubt your car is worth 39k. I definitely don't think you should re-lease your car again. I wonder what the residual would be for a 6 year-old M5. It couldn't be too much. I would guess that you would end up paying quite a lot in APR or money factor charges. I think you have a better idea of finding a 2002 or 2003 M5 and leasing that one for a couple of years. Hope this helps. :M5thumbs:



Musta10000 said:
My lease on my 2000 M5 is coming to an end in a few weeks. I have not found anything new and exciting to get other than the new 911S. However, I still love my car and wouldn't mind keeping it for another two years. The lease buy out is $39K, but I don't want to tie my cash into the car. One option obviously would be just to let this one go and then leasing a 2002 or so for the next two years.

Has any of you ever re-leased a car? I have moved away from where I purchased a car and thus am unable to go back to them to discuss. I have not talked to the local BMW dealer to see if they would assist.

Your thoughts?
 

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I did a lease buyout on my 2002 and added CPO coverage at the same time. I had to do a buyout because I was over mileage and would have paid a penalty to allow the lease to end without a buyout. The payments only went up a little bit (< $100). Plus after a few more years of ownership, I should have a fair amount of equity in the car. It was a bizare transaction just as if I sold the car to myself. Both seller and buyer documents had to be signed including odometer statements and the like.
 
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