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Lease buy out, X3 35i: 85k miles!!

stat33stat33 Posts: 1
edited April 5 in BMW

Hello guys,

I really need some advice here. I leased my X3 35i in 2011, was a high mileage lease, 30k miles per year, costing 850$/mo. Now at the end of 3 years, it has 85K miles. So far zero problems except for changing the tires, so far the third set.

So far I have spent 36,000$ in payments. Gross capitalized cost was 52k End of lease, purchase cost is 21k (I guess I was wrong here, thinking I would be paying 52-36 = 16k)!!

Is this a good option to buy. BMW X3 with 80k miles...will it cost a lot for maintenance? Would this car hold value, say in 2 years from now (with say a total mileage of 150k miles)...for resale??

Any ideas & input would be greatly appreciated

Comments

  • kyfdxkyfdx Posts: 28,034

    First.. $850 X 36 = $30,600, not $36K, but maybe that includes your upfront charges? The difference is finance charges. The bank buys the car from the dealer. They have to make money, somehow.

    But, none of that really matters. At this point, is $21K a good price for a 2011 X3 35i with 85K miles? I'm not sure, but in answer to your other questions... Yes, it will cost a lot to maintain, to get it from 85K miles to 150K miles, and yes, it will still depreciate a lot during that time (at least half). If you can find examples, look at Autotrader or Cars.com to see what a 2008 X3 with 150K is going for.. That isn't apples to apples, since it's an older model, but it will give you an idea of where you are headed.

    To get a current idea of what the car is worth, post the details, here:
    http://forums.edmunds.com/discussion/1212/general/x/real-world-trade-in-values/p2187

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    Prices Paid, Lease Questions, SUVs

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