Good to pick up a leaseback?

[KISS_ME]

Im not sure if my wording for this is right so please bear with me.

I have a friend going to be giving back his lease to a 335i in a few months and im thinking of picking it up from him. I think it was a 3 year lease so assume its a 2006 model. I think the buy out at the end of the term is 30k, so what i was thinking is paying him the 30k to buyout the car and transfer ownership to me. Is this possible and also would it be a good deal to do so.

Thanks

[realazy]

Of course you can do that, it's just basically him buying out the car at the end of the lease and selling the car to you. If it's only 30k for a 335i that is a pretty good deal.

[Aleks]

There was no 2006 335i. It started as a 2007 model. The difference between the two is huge performance wise so make sure it's a 335i.

I am sure he can pay off the residual and then you can pay him that amount and the car is then yours. But if in fact the car is a 2007 335i I highly doubt he is willing to give it up for 30K when he could sell it privately for quite a bit more.

[KISS_ME]

i remember speaking to him about the car and i think he mentioned it was a single turbo. the bmw.ca website says the 08 models are twin turbo. im not sure if the info i just provided is enough to determine what year it is. i have zero knowledge about bmw by the way.

[Xtrema]

Originally posted by KISS_ME
i remember speaking to him about the car and i think he mentioned it was a single turbo. the bmw.ca website says the 08 models are twin turbo. im not sure if the info i just provided is enough to determine what year it is. i have zero knowledge about bmw by the way.

Single turbo? Aftermarket? All 335i are twin turbo. Sound like a 06 325/28/330 with an aftermarket turbo? If that's the case, if may cost him a pretty penny to return the lease, hence trying to get a buyer.

A fully loaded 06 330i including Nav @ 50K is worth about $28K.

[Eleanor]

Ummmm, walk away. Don't blow $30g without knowing anything about the car. :banghead:

[KISS_ME]

Originally posted by Xtrema


Single turbo? Aftermarket? All 335i are twin turbo. Sound like a 06 325/28/330 with an aftermarket turbo? If that's the case, if may cost him a pretty penny to return the lease, hence trying to get a buyer.

A fully loaded 06 330i including Nav @ 50K is worth about $28K.

what? u gotta pay to return leases? i thought the beauty of leasing is so you can give back the car at the end of term with no hassle.
sorry for all the dumb question as i have never leased a car. Thanks for al the help by the way.

[G]

Originally posted by KISS_ME


what? u gotta pay to return leases? i thought the beauty of leasing is so you can give back the car at the end of term with no hassle.
sorry for all the dumb question as i have never leased a car. Thanks for al the help by the way.

You cannot return a leased car with mods you will have have it reverted back to OEM specs

[Aleks]

Originally posted by KISS_ME


what? u gotta pay to return leases? i thought the beauty of leasing is so you can give back the car at the end of term with no hassle.
sorry for all the dumb question as i have never leased a car. Thanks for al the help by the way.

You don't have to pay to return the car if it's in good shape and unmodified. I highly doubt he put a turbo on his car himself. Just find out what model it is.

325/328/330/335?

335 is the only one that has 2 turbos the other ones don't have any.

[Aleks]

Originally posted by Xtrema




A fully loaded 06 330i including Nav @ 50K is worth about $28K.

You meant $38K right. I sold my non nav for $45K about a year ago. They are now going for high 30s unless you want to shop at GOFC