dennisnyc

Hi!

Current BMW X5 owner, my lease ends soon and I'm considering Cayenne 2024 as a next car. (Let's assume for this conversation that I'm moving forward with Cayenne no matter what) .
I'd like to avoid unnecessary hassle and avoid a gap when I'm without a car.
I would really appreciate an advice on the best course of action!

So...

• Should I just return my car to the BMW dealer when its lease ends, and lease/order Cayenne now?
• Maybe Porsche dealerships can somehow take my car with an existing lease (trade-in?) now toward a new Cayenne lease? (would be cool if they just take care of all the paperwork and this way I could get a build I want by the time my lease ends = no time without a car)
• Should I pay off my X5, and then trade it in to Porsche, if this is something they do?
• Or maybe there is a better/normal way to do this kind of swap?

Thank you and have a nice weekend!
D.

OneBluePorsche

How soon is soon? 1 month, 3 months, 6 months?
What is the residual (buyout) price on your X5 lease contract and what’s the book value of the X5?

dennisnyc

3 months, but AFAIK the lease can be extended up to 6 months.

Buyout: ~45K (was 49K in Feb when used bmw account to calculate, but I subtracted several months of lease hence ~45)
Book value: honestly do not know what "book value" is : ) "CARFAX History Based Value" is showing that currently it is 42K, though

OneBluePorsche

Book value can be from a variety of sources (KBB, NADA, etc.). The CARFAX value is probably fair for this discussion.

I don’t know what the availability picture is on the Cayenne, meaning if it is hard to get an allocation for an specable build, if they have decent on the ground inventory, etc. so it’s hard to make timing suggestions.

Since you’re planning to lease the Cayenne I would go into the Porsche dealership now see about inventory/allocations and also see if Porsche Financial Services has any conquest offers for people switching from another brand. Sometimes they will offer cash or make X of your last lease payments.

dennisnyc

Good point about Porsche FS, I'll call them to clarify my options on switching.
Thank you, @OneBluePorsche !!

chassis

What is the year, model, mileage and option content for the X5 you are turning in?

dennisnyc

2021 X5 xDrive40i, ~8400 miles, Executive package, M Sport, shadowline, Merino leather seats

chassis

Best case, you will break even if you buy out the X5 and sell it yourself. Likely case you will lose money.

Talk with the Porsche dealer on a trade scenario. If that doesn't satisfy, then negotiate possession at a date that fits your BMW lease obligation.

dennisnyc

Thanks, @chassis !

frankbesos4

It's a good idea to contact Quick Ship Cars to discuss your specific situation and see what options they can offer. They may be able to provide more details on how they handle trade-ins and help you find the best solution to avoid any gaps in having a car.

Dirty Jacket

Another idea - see how much Carmax will give you for it. If it’s more than your buyout and worth the effort, buy out the car yourself and sell it to Carmax. Carmax cannot buy out a BMW lease—no dealership can that doesn’t have a dedicated BMW dealership in its network. I was in this position 4 weeks ago with my wife’s X4. I ended up selling the car to the BMW dealership for $500 more than buyout. It allowed me to avoid lease turn in fees of $5500 for mileage over, tires, maintenance.

dennisnyc

Thanks, @Dirty Jacket ! !