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lease then buy a 2017 X5 after three years

rccan123rccan123 Posts: 2
edited January 2017 in BMW
had a question. ready to lease a 2017 X5- msrp of $67720. Question is if i lease for 36/10 w/ MF .00134 and 58% residual and then decide to buy at the end of the lease, dealer says that I will buy at FMV at that time. My question is if a drive 15- 20k miles per year and the vehicle has 45-60k miles vs the 30k miles in lease, the FMV will go down and I will but the car at a much lower price - which benefits me- and the dealer residual that was set hurts the dealer- does that make sense to you?
thanks

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  • kyfdxkyfdx Everywhere, USAPosts: 128,067
    rccan123 said:

    had a question. ready to lease a 2017 X5- msrp of $67720. Question is if i lease for 36/10 w/ MF .00134 and 58% residual and then decide to buy at the end of the lease, dealer says that I will buy at FMV at that time. My question is if a drive 15- 20k miles per year and the vehicle has 45-60k miles vs the 30k miles in lease, the FMV will go down and I will but the car at a much lower price - which benefits me- and the dealer residual that was set hurts the dealer- does that make sense to you?
    thanks

    No... the price won't be fair market value, it will be the residual amount. You can't drive extra miles for free, in any case.

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  • that's what seemed odd to me, as it did not make sense that dlr. would lose out. Thanks, and we will prob finance the deal w/ a good down payment. bmw rates are 2.9% but our credit union is only slightly lower.
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