[hudsonX]

This is the first time I'm approaching the end of a lease on a car, so having some anxiety about what to do.

I'm about 6 months away from lease being up on my 2021 40i. After 2 1/2 years, I'm happy with the car, and i've realized I'm a very basic user - I don't need any additional power or bells & whistles. What I'm really trying to understand is if a) 2024 vs 2021 is SO much more advanced that it makes sense to get a new car and b) if I buy the 2021, would I need to buy an extended warranty (I am pretty risk averse).

I only have 9,000 miles on the car, as we are city dwellers and only us it for occasional weekend driving.

I realize it's a VERY subjective / "it depends" type of question, and I'll have to consider the financials, but any thoughts are highly appreciated!

[MystroX5]

Buy your car as the miles are so low it’s still practically new. It’s also a reliable and known factor which is becoming even more valuable with the issues of the LCI.

[crackerjack15]

I would buy out the 21 with that low of miles, if the price is decent. There isn't a substantial difference in experience. I have the 24 and I still think the exterior and interior are better on the pre-lci. The only things better to me on the LCI is the nav screen is beautiful and hands free driving to 85mph. even the hands free isn't that big of a deal. It's nags you more to keep your eyes on the road.

[Orient330iNYC]

Originally Posted by hudsonX

This is the first time I'm approaching the end of a lease on a car, so having some anxiety about what to do.

I'm about 6 months away from lease being up on my 2021 40i. After 2 1/2 years, I'm happy with the car, and i've realized I'm a very basic user - I don't need any additional power or bells & whistles. What I'm really trying to understand is if a) 2024 vs 2021 is SO much more advanced that it makes sense to get a new car and b) if I buy the 2021, would I need to buy an extended warranty (I am pretty risk averse).

I only have 9,000 miles on the car, as we are city dwellers and only us it for occasional weekend driving.

I realize it's a VERY subjective / "it depends" type of question, and I'll have to consider the financials, but any thoughts are highly appreciated!

i would keep the 2021. you know the history. im going to guess very little wear and tear.

if you are driving only about 3K per year, i suspect you arent going to see alot of out of warrantly item failures. you could just self insure. or you can buy the bmw extended warranty at any time you are still covered by the factory warranty from any dealer. i would not buy a third party warranty.
just make sure you keep up with time dependant maint items, like oil every 12 months, brake fluid every 2 years.

[hudsonX]

Originally Posted by crackerjack15

I would buy out the 21 with that low of miles, if the price is decent. There isn't a substantial difference in experience. I have the 24 and I still think the exterior and interior are better on the pre-lci. The only things better to me on the LCI is the nav screen is beautiful and hands free driving to 85mph. even the hands free isn't that big of a deal. It's nags you more to keep your eyes on the road.

So I guess by mid-calendar year 2024 I'll have a 2021 with 10k miles - my payoff at that point will be $50k-ish I think? Not sure how it ends up getting calculated - payoff is sitting at $55k right now with 6 or so $1,114 monthly payments left. I guess that would be a decent price? Options are not too crazy - I would call it "basic good stuff" - Cold Weather, Luxury Seating, Parking Assistance, Premium Package and Aluminum running boards

[Orient330iNYC]

Originally Posted by hudsonX

So I guess by mid-calendar year 2024 I'll have a 2021 with 10k miles - my payoff at that point will be $50k-ish I think? Not sure how it ends up getting calculated - payoff is sitting at $55k right now with 6 or so $1,114 monthly payments left. I guess that would be a decent price? Options are not too crazy - I would call it "basic good stuff" - Cold Weather, Luxury Seating, Parking Assistance, Premium Package and Aluminum running boards

your buyout price at the end of the lease will be whats in your lease contract as the residual value.
right now the value is the residual value + remaining payments - unaccrued finance charges or something roughly like that. the payoff quote now should be less as i believe you stop paying interest if you buy it out before the end? not 100% sure about this though.

[bagekko]

We just bought out our 2021 because I don't want all the issues & headaches with the new one but also I still don't think I could get every option we have. Plus buyout was $46k before sales tax and book on it is $65k+. You should buy it out even if you are going to trade it in soon as it's easily $10k+ profitable.

[hudsonX]

Originally Posted by Orient330iNYC

your buyout price at the end of the lease will be whats in your lease contract as the residual value.
right now the value is the residual value + remaining payments - unaccrued finance charges or something roughly like that. the payoff quote now should be less as i believe you stop paying interest if you buy it out before the end? not 100% sure about this though.

Ah, now I get it - just checked the docs on my BMW account.

So in May 2024, it will basically be $45k residual value + sales tax of $4k (NY tax). So out the door more or less $50k.

[hudsonX]

Originally Posted by bagekko

We just bought out our 2021 because I don't want all the issues & headaches with the new one but also I still don't think I could get every option we have. Plus buyout was $46k before sales tax and book on it is $65k+. You should buy it out even if you are going to trade it in soon as it's easily $10k+ profitable.

Oh wow, that's good to know!

Sounds like the consensus is to buy it out. My six year old would miss his good 'ole "Bluejay" anyways (Phytonic Blue exterior), haha!

[crackerjack15]

Originally Posted by hudsonX

So I guess by mid-calendar year 2024 I'll have a 2021 with 10k miles - my payoff at that point will be $50k-ish I think? Not sure how it ends up getting calculated - payoff is sitting at $55k right now with 6 or so $1,114 monthly payments left. I guess that would be a decent price? Options are not too crazy - I would call it "basic good stuff" - Cold Weather, Luxury Seating, Parking Assistance, Premium Package and Aluminum running boards

Not that it's the same, as yours will be worth less since time will have passed, but... at the end of June 23, I got a trade in of $54k for my 2021 with 47k miles which had an original sticker of $92,445. The dealer listed it for $60,991 and sold it within a couple days. I have no clue what they sold it for but I would imagine around $59k

[BMWMN1971]

Buy your 2021 and don’t look back.

[Young04]

Another vote for going with the 2021. I've somehow bought six cars built after March 2020. Only one has been trouble free. It's been frigging exhausting dealing all of these car problems. You know the history of your 2021 and it seems like you have a good one. Getting a new car these days is really rolling the dice.

[EWL5]

I say buy it out and then sell it down the road if you'd like. Returning it to the dealer is really doing them a favor as they can just turn around and profit off the "Pandemic equity" you currently have. Not sure if the brake booster issue is largely resolved on the 24's but that, de-contenting, and other electronic gremlins definitely would give me pause concerning getting a newer X7!

You would definitely be paying way more for less!

[streborx]

I would go with the '21 entirely to avoid the '24 mild hybrid and all the potential problems that come with it, as well as the annoyance of not being able to disable auto start/stop. If your driving schedule is irregular you might find it necessary to connect a maintenance charger to keep the batteries full, and with the 48 volt mild hybrid battery, this requires leaving the hood up while charging. This you might not want to do if you park in a garage that is shared by many others.

My X7 is a '22 and I would not trade it for a fully optioned '24 even if offered an even swap.

[MystroX5]

Originally Posted by hudsonX

Ah, now I get it - just checked the docs on my BMW account.

So in May 2024, it will basically be $45k residual value + sales tax of $4k (NY tax). So out the door more or less $50k.

Wow, I didn’t know it was that good of a buy out. That is a steal for this high end of a vehicle with such low miles. This isn’t even a contest on what you do. Even if you hated your current X7 you could easily buy it out and flip it for a very nice profit even if you didn’t want to keep it. In the end it’s gonna cost you almost twice as much money for practically the same vehicle if you want a new X7 LCI. Plus your X7 is going to age very well without a heavy and costly lithium battery in it that has a very expensive limited shelf life. These pre hybrid vehicles are the pinnacle of performance, lower maintenance, and desirability. These will be models searched out the more the years go on. I will be for secondary vehicles in my fleet of cars.

Buy it out and own what might be the best full size luxury SUV money can buy right now.

[bagekko]

2021 X7 40i has the MH system.

Originally Posted by streborx

I would go with the '21 entirely to avoid the '24 mild hybrid and all the potential problems that come with it, as well as the annoyance of not being able to disable auto start/stop. If your driving schedule is irregular you might find it necessary to connect a maintenance charger to keep the batteries full, and with the 48 volt mild hybrid battery, this requires leaving the hood up while charging. This you might not want to do if you park in a garage that is shared by many others.

My X7 is a '22 and I would not trade it for a fully optioned '24 even if offered an even swap.

[streborx]

Originally Posted by bagekko

2021 X7 40i has the MH system.

Yes, indeed it does. I sometimes forget the X7 comes in 2 flavors.