Great lease on 2016 BMW 320xi

Discussion in 'Other Cars' started by JoeZaff, Aug 15, 2017.

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  1. JoeZaff

    JoeZaff F1 Veteran
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    Aug 5, 2007
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    #1 JoeZaff, Aug 15, 2017
    Last edited by a moderator: Sep 7, 2017
    The short of it: My StepFather has asked me to see if anyone is interested in taking over the lease on his 2016 BMW 320Xi. Lease expires on 7/19/19 and there are 27,500 miles remaining. He paid off the lease in full and is simply looking for a flat $9,000 for the remaining lease term. Free maintenance is included and I believe he also has a lease protection plan that covers the first $5K in potential damage. I will have the car fully detailed prior to delivery.


    Long version: My Stepfather earned a modest living and recognizing his advancing age, decided to finally get his dream car...a new BMW. As he wanted a "new" car, I counseled him to lease rather than purchase, given the lease programs and BMW's depreciation curve. He took my advice, but insisted on paying off the entire lease upfront. Sadly, six months ago he had a stroke and can no longer drive. Accordingly, he has asked me to see if someone would be willing to take over his lease. I will try to put it on Swap-a-lease, but I thought I would try here first.

    I am somewhat familiar with the car. It is a 2016 BMW 320xi. It is well equipped including navigation and Satellite radio. At some point early on it was sideswiped in a parking lot and repaired at a local well respected facility that works largely on exotic and luxury cars. To my eyes the repair looks flawless. Other than that, the car is low mileage and presents accordingly.
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  2. Townshend

    Townshend F1 Veteran
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    Sorry to read about his inability to drive but kudos to him for accomplishing his dream at least. Best of luck with sale!
     
  3. schumacherf2006

    schumacherf2006 F1 Rookie
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    This is an insane deal! Someone better scoop this up. I just leased an Accord, I would have rather done this shoot!
     
  4. 355dreamer

    355dreamer F1 Veteran
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    So, about $400 a month?
     
  5. Dave rocks

    Dave rocks F1 World Champ
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    Contact the dealer where he got the car, tell them the story. I'd bet they find someone to take this over.
     
  6. dm_n_stuff

    dm_n_stuff Global Moderator
    Global Moderator Lifetime Rossa Owner

    Dec 10, 2003
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    yeppers.

    Works out to $390 a month.

    sounds like a pretty good deal, and Joe Zaff is a VERY straight shooter. If he says the car is ok, that means it's nearly perfect.

    D
     
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  8. energy88

    energy88 Formula 3
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    Jan 21, 2012
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    Sorry to hear about your Step Father's illness.

    Just curious, what is going to be the residual value in July 2019? That may factor into someone's decision if they want to keep the car afterwards.
     
  9. JoeZaff

    JoeZaff F1 Veteran
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    Thank you everyone for your interest and the kind words. I've taken a deposit on my step Dad's car. I will relist the car for him should the buyer change his mind.

    Thanks again :)
     
  10. 3POINT8

    3POINT8 Formula Junior

    Jan 23, 2014
    959
    love the color combo glws
     
  11. JoeZaff

    JoeZaff F1 Veteran
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    So unfortunately the buyer, a friend of mine, backed out for personal reasons. The car is again available. I am reducing the price to $8800.00
     
  12. JoeZaff

    JoeZaff F1 Veteran
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    Price reduction!!!

    $8500 including damage protection plan and detail!
     
  13. njcycleguy

    njcycleguy Formula Junior
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    Dec 27, 2008
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    How does the sales tax transfer from one state to another in a lease transfer? If he's paid the lease up front, he's paid the sales tax as well, so do you have an idea of how the sales tax would work (credit/tax due) if one lives in a state where the tax on a lease is calculated differently? Can you contact BMW FS and find out?
     
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  15. JoeZaff

    JoeZaff F1 Veteran
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    Thanks for your interest! I placed a call to my dealer and will post as soon as I hear back
     
  16. JoeZaff

    JoeZaff F1 Veteran
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    Ok. From what BMW advised, Pennsylvania will not credit back the sales tax if the car goes out of state. However, some states may credit the sales tax paid to Pennsylvania against any sales tax amount owed.


    Therefore, if this car ultimately goes to someone out of state and that state will not credit the buyer for the Pennsylvania sales tax already paid, I will credit back the Pennsylvania sales tax (6%) to the buyer
     
  17. JoeZaff

    JoeZaff F1 Veteran
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    Aug 5, 2007
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    Thanks for your interest guys. I put the car up on Swap-a-lease. Moderators, kindly pull this listing.
     
  18. JoeZaff

    JoeZaff F1 Veteran
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    Aug 5, 2007
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    I am lowering the price to $7500.00! That equates to just under $340.90 a month!!!!!

    My Step-Father asked that I relist this car, with his medical expenses, he and my Mom could really use the money. I have the car listed on Swap-A-Lease for 8800. I will probably lower it this week. Before I do, I thought I would take one more swing at F-Chat.

    Included in that price is full maintenance for the balance of the lease, as well as a lease protection plan that covers the first $5K in damages. In addition to that previously mentioned, the car has heated seats, keyless entry, Navigation, Satellite Radio and a backup camera

    My Mom and him are in the process of moving to a ranch home, because he can't climb stairs anymore. I finally got my own hands on the car last week. The car is actually a metallic black, not a solid black as I had thought. Upon my inspection I noticed a nice scuff on the front bumper cover and a small crack in the headlight.. My Step-Father doesn't know how it happened. I can only assume that someone tried moving it out of the way during the move and hit a box or something. In any event, though the minor damage is clearly below his lease protection deductible, I sent the car to my detailer to be detailed and have the bumper cover reshot and the headlight replaced, at my expense.
     

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