Lease a pre-owned?
Has anyone leased a pre-owned vehicle before? specificially Audi or BMW?
Oct 26th, 2015 9:57 pm
Oct 27th, 2015 10:31 am
I did way back in 2006. I leased a CPO BMW 330i that was 1 year old.foodyforlife wrote: ↑Has anyone leased a pre-owned vehicle before? specificially Audi or BMW?
Oct 27th, 2015 10:44 am
Oct 27th, 2015 11:18 am
Oct 27th, 2015 12:11 pm
I didn't think this was available anymore. I did it back in 2006 because the price of the car was around $15K lower than brand new. Lease interest rate was very low and residual was high. I ended up selling that car after about a year. I generally lease new cars with low interest rates as I like to free up cash to put in places that can make more in return that the interest over lease term I pay.
Oct 30th, 2015 2:56 pm
I was thinking of leasing like a CPO, off-lease or even demo car. Aslong as its under warranty, since I wouldn't be keeping it anyways after that! Especially for those luxury cars
Oct 30th, 2015 3:49 pm
What are the rates you're finding? Are they nearly the same as leasing new?foodyforlife wrote: ↑I was thinking of leasing like a CPO, off-lease or even demo car. Aslong as its under warranty, since I wouldn't be keeping it anyways after that! Especially for those luxury cars
Oct 30th, 2015 5:43 pm
if that's the case, takeover a leasebuster lease. Have the current owner pay for inspection and lease transfer fee and look for a lease that the owner has put down a fair amount of down payment.foodyforlife wrote: ↑I was thinking of leasing like a CPO, off-lease or even demo car. Aslong as its under warranty, since I wouldn't be keeping it anyways after that! Especially for those luxury cars
Oct 30th, 2015 6:24 pm
Oct 30th, 2015 7:10 pm
Oct 31st, 2015 9:49 am
Oct 31st, 2015 9:56 am
Oct 31st, 2015 9:59 am
Oct 31st, 2015 12:33 pm
I think you have a typo.
Nov 1st, 2015 4:09 pm
Nov 18th, 2015 12:19 am
Wasn't a takeover. It was a unit that was being voluntarily repossessed and I was able to buy it for the outstanding loan balance, after a year of payments.booblehead wrote: ↑I think you have a typo.
$600/ WEEK is more likely (even this # is already considered to be on the low side)
A base V8 R8 at $160,000 + car with $0 down and 3 yrs lease at 4.9% will run you about $3000 per month + taxes.
I am really interested in seeing your takeover lease doc.
Nov 18th, 2015 2:33 am
Nov 18th, 2015 7:54 am
I thought residual is set by the company not dealerscarface wrote: ↑Wasn't a takeover. It was a unit that was being voluntarily repossessed and I was able to buy it for the outstanding loan balance, after a year of payments.
I paid $135,000 and was able to assign a $124,000 residual after 3 years. 3.5% rate. Feel free to check my numbers.
The $3k payment you use is correct, if you buy a new one. The black book residual doesn't go down that much over a year (or two), but the residuals that the dealers use tend to be different because they want equity in the cars when they come back. If you want to start guaranteeing residuals, you can do even more ridiculous stuff, like $1 monthly lease payments.
Nov 18th, 2015 8:51 am
scarface wrote: ↑Wasn't a takeover. It was a unit that was being voluntarily repossessed and I was able to buy it for the outstanding loan balance, after a year of payments.
I paid $135,000 and was able to assign a $124,000 residual after 3 years. 3.5% rate. Feel free to check my numbers.
The $3k payment you use is correct, if you buy a new one. The black book residual doesn't go down that much over a year (or two), but the residuals that the dealers use tend to be different because they want equity in the cars when they come back. If you want to start guaranteeing residuals, you can do even more ridiculous stuff, like $1 monthly lease payments.
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