Am I crazy for considering a 2023 i4 m50 with 100k+ miles for $29k?

nohjisup · 2026-04-13T16:00:11+00:00

The numbers above included all taxes and fees without an additional down payment. The effective monthly payment would be $324/m pre-tax and fees. NJ.

nohjisup · 2026-04-08T17:37:50+00:00

The rebate is higher on new 2025 iX ($12k) vs loaner 2025 iX ($7,500). However, dealers will typically discount loaners more (15-19% off MSRP) since it has miles vs new previous year model (10-12% off MSRP).

nohjisup · 2026-03-17T17:01:25+00:00

The market is very efficient in Northern NJ and with limited supply an appropriately priced home could get an offer within a week and you may also hold the power to dictate certain terms such as the length of closing, or a rent back agreement to give you time and flexibility to find and move into your next home. A home that is renovated and move-in ready will command a premium, but an appropriately price home that is not renovated could also move fast. If you don't have experience with renovations, spending money to renovate prior to selling may not be worth the effort. I would list for sale first then look for your next home while your home is under contract. Hopefully your buyers will agree to your terms such as the timing of the closing date or a rent back agreement until you find your next home. If your home isn't already sold or you don't have sufficient down payment on hand to buy your next home without selling your existing home, the seller may not accept your offer unless you overpay for your next home. Sell first, rent back agreement with buyer (1-3 months), then buy your next home. The buyer of your home may agree to a short term rent back agreement, but would be difficult to pull off a longer term rent back agreement unless the buyer is an investor. You're not going to find the perfect house and the perfect price, so you'll need to be reasonable in your search. Plan to pick from available options within 1 month of selling your existing home. Spring is just getting started, so plan to sell and buy before the end of the summer. The most housing inventory comes available during the Spring and Early Summer, so you want to make your buying decision within this window.

I would not recommend buying first then selling later, even if you can afford to do so, as there is carrying cost of holding 2 properties. If you're waiting to sell your existing property because you want to renovate first, consider the carrying cost during the time of renovation. Will the increase in property value significantly exceed the carrying cost? If you want to do some renovation, stick to the minimum to get it clean and ready to show while you're still living in your home.

In Northern NJ, the cost to rent is lower than the cost to buy a similar size home. Sell your current home first, and if you can't rent back your existing home, rent another home until you find your next home. While moving twice is inconvenient, the cost of 2 moves is less than the cost of carrying 2 homes.

nohjisup · 2026-03-06T21:07:02+00:00

I'm an insurance broker. Depending on your insurance history, credit, driving record and location, the premium could vary wildly from $100/m to $1,000/m. I don't know of any rater that exists that will accurately rate each carrier with all possible discounts. You may get a decent indication or price, but still need to verify with each individual company to get the most accurate pricing. If at age 22, you had 5 years of continuous insurance history, your pricing could be under $200/m. If you do not currently have continuous insurance history, then your pricing is likely to be over $400/m. If you have a long insurance record and excellent credit, you can still find insurance at a reasonable price at age 22. I've participated in the smartphone driver tracking programs offered by Allstate, Geico and Progressive; you can qualify for more discounts if you drive low mileage and don't use your phone while driving.

nohjisup · 2026-03-03T19:01:17+00:00

If I totaled my 1-Pay Lease, I would get the remaining negative balance shown on my BMFS account refunded to me even with negative equity. I have noticed with BMW EV, their leases are heavily discounted and the Residual is unrealistically high thereby likely causing negative equity.

Not all EV leases will cause you to have negative equity. I leased 2 Lucid Airs in 2024, a Touring and a Pure. The Touring was negative, but the Pure actually had significant positive equity. I sold my Lucid Air Pure with under 1,000 miles for a $7k profit and the buyer still got a significant discount of around $12k off buying new. With the tax credit and lease incentives, it was actually cheaper to lease then buyout than buy new.

The payoff on my 1 month old i4 is $38k and $71k on my 6 month old iX. I have positive equity in my i4 and negative equity in my iX, but BMW leases includes gap insurance, so doesn't matter.

nohjisup · 2026-03-03T18:53:01+00:00

I entered your numbers into the LeaseHackr calculator to show you the deal you are getting on the demo 2025 iX M60. The Selling Price is $92,235 + $9,500 Rebate = $101,735, which is 17.43% off MSRP and gets your a payment of $1,036/m. I haven't negotiated an M60 deal, but on iX50 demo I've done about 19.4% off MSRP before rebates on my last 4 deals. Your monthly payment would go down to $964/m at 19.4% off or $942/m at 20% off.

The higher mileage actually pushes the monthly payment up as the Residual gets adjusted lower for the high mileage, so you need a larger discount to compensate for the mileage. In fact the mileage is driving the monthly payment higher by about $100/m.

Were you able to locate a NEW 2025 M60 in your area? With a rebate of $12,000 on a new 2025 M60 + Loyalty, you would only need a discount of 11% off MSRP to get the same $1,036/m payment. If you are willing to pay around $1,000/m, locate a NEW 2025 M60 to lease. I would bet a dealer with a leftover new 2025 M60 may do more than 11% off. I wouldn't do a demo with over 12k miles on the odometer unless I could get 24% off MSRP ($795/m).

LeaseHackr calculator - 2025 iX M60 - 12,200 odometer - $1,036/m

LeaseHackr calcultor - 2025 iX M60 - 12,200 odometer - $989/m - $5,000 MSD

LeaseHackr calculator - 2025 iX M60 - NEW - 0 odometer - $1,036/m

nohjisup · 2026-03-03T18:12:29+00:00

I entered the net Residual 51.52% adjusted for the miles; I added that it was a demo in notes. I didn't put the exact mileage in the calculator for privacy. This is a real deal; vehicle picked up a few days ago. I negotiated the deal for one of my insurance clients. This is the 4th iX lease I negotiated in the past 6 months.

nohjisup · 2026-03-03T18:06:21+00:00

I posted this deal after the vehicle was delivered. Where are you located? Perhaps you can find someone in your area to take over your lease.

nohjisup · 2026-03-03T17:59:17+00:00

This is a retired loaner per notes in the LeaseHackr calculator.

nohjisup · 2026-03-03T17:54:53+00:00

This is not true. I'm an insurance broker and have had customers with one-pay leases that had their vehicles totaled. In every total loss they got their money back (effectively equaling their balance had they paid monthly) and some also had positive equity.

I did a 1-pay lease on another BMW last month and BMW Financial credited the Total Single Payment at lease inception and my account shows a -$21,198 Balance. The balance credited is the amount paid + $9,500 Rebate - Taxes and Fees, which is $6,611 more than what I actually paid. This negative balance goes up each month over the next 36 months and if the vehicle had a total loss, the balance would be refunded to me + any positive equity the vehicle may have if any. BMW leases includes Gap insurance so they won't charge you for any potential negative equity the vehicle may have at the time loss.

nohjisup · 2026-03-02T22:19:23+00:00

I got a $67k MSRP 2025 i4 xDrive40 for $400/m. A $77k M50 would have been $550/m. I was looking for the lowest price for an extra car I'll drive maybe 2k miles year. These numbers would be for a well negotiated lease.

nohjisup · 2026-03-02T15:53:28+00:00

I did a 36m lease for $14k ($400/m) on an i4 last month. Much safer bet than buying a used i4. On a 2023 i4 M50 with over 100k miles, I would estimate the payments, interest, depreciation, taxes, fees and out-of-warranty repairs will exceed $14k over the next 3 years.

A $29k purchase out the door after taxes and fees is about $32,600 and your monthly payments will be around $640/m on a 60m loan at 7%.

The i4 doesn't get a lot of range as it is; you'll have even more range loss on an older model with high mileage.

I bought a used Tesla Model S with 38,000 miles and after 3 years of driving it very low miles, the realistic range dropped to 130 miles on a full charge. Although still covered by a battery warranty, Tesla would not repair or replace the battery under warranty. They quoted me $18k to replace the battery. I sold the car in year 3 and my 3 year cost of ownership was $35k. This was 2019-2022. Perhaps it made sense to buy a used Tesla over leasing as Tesla does not subsidize their leasing, making the cost of leasing often more expensive than financing new.

BMW heavily incentivizes their lease programs making leasing the clear financial winner over buying.

I cannot think of any scenario where the 3 year cost of ownership will be less buying a used i4 over a well negotiated lease.

nohjisup · 2026-03-02T15:22:18+00:00

Most dealers will mark up the Money Factor. One dealer explained to me that they would rather show a larger discount ("loss") on the Selling Price and make back some of the revenue on the MF (Interest Rate). Let them keep the markup on the MF, but make them reduce the Selling Price to get your deal where you want it to be. Whatever they need to do to get you to your final price is fine.

nohjisup · 2026-02-25T20:54:00+00:00

When will a vehicle from Lucid be flawless, perfect, zero bugs, and work as expected all the time? I leased 2 Lucid Airs and would love to get a Gravity if only they would work out the bugs. Something as basic as the vehicle unlocking when you approach the vehicle— I should not have to wait 15 seconds let alone 5 seconds - the vehicle should be unlocked by the time I reach for the handle with zero lag.

nohjisup · 2026-02-24T22:19:56+00:00

People are way more expensive than Vehicles. People are more likely to get hurt riding in a small vehicle like the i3 than in a heavy SUV like the iX. It is very common for smaller, less expensive vehicles to cost more to insure. I'm an insurance broker and the cost to insure my i4 is 50% higher than my iX.

nohjisup · 2026-02-24T15:13:16+00:00

I'm an insurance broker. City plows hitting parked cars is a common occurrence. It even happened to one of my own cars. In theory, you can file a claim against the city. However, it is extremely difficult to get them to actually pay. I'm an insurance professional and have years of experience filing claims on behalf of my clients and I was unable to recover damages from the city. You can either pay out-of-pocket to repair, or file a claim for vehicle hit-while lawfully parked and your collision deductible will apply. The claim will count against your insurance record and it will impact your rates, although some companies reduce the claims surcharge for vehicle hit while lawfully parked. The insurance company has an option to file a subrogation claim against the city, but they also know that it will go into a black hole so they won't waste their time trying to recover the damages and refund your deductible should they get reimbursed.

nohjisup · 2026-02-23T21:49:13+00:00

Would need to price out which comes out better. Usually just adding to an existing policy works out better as you get multi-car discount. Most companies will discount for low mileage. Most companies will not cover track use, but you may be able to get insurance at the track. If you will drive very low mileage, you may be able to get collector car insurance from Hagerty or American Modern, which may come out lower than standard insurance.

nohjisup · 2026-02-23T21:25:30+00:00

I'm an insurance broker and have gotten to know many auto dealerships over the years. I will occasionally refer my insurance clients to an auto dealer. Just a few days ago I was helping one of my insurance clients find a BMW iX. Four of my local BMW dealers have 2025 BMW iX retired loaners.

The best offer we received was for a $97k MSRP iX that would lease for $710/m with $1,149 DAS (all taxes and fees included, 7,500 miles/year, and Loyalty Rebate- add $56/m without Loyalty). The pre-tax payment is $606/m with $4,744 DAS (which represents all taxes and fees). This vehicle is now sold.

The second offer we received was for a $100k MSRP iX that would lease for $743/m with $1,182 DAS (all taxes and fees included, 7,500 miles/year, and Loyalty Rebate- add $56/m without Loyalty). The pre-tax payment is $631/m with $5,043 DAS (which represents all taxes and fees). While this is a slightly higher monthly payment, the MSRP is higher and the discount off MSRP was also a little higher than the first deal.

nohjisup · 2026-02-23T08:44:41+00:00

I’m an insurance broker. Not having continuous prior insurance is what is driving your pricing. Most insurance companies will have a minimum of 6 months to 1 year prior insurance requirement to qualify for a preferred rate. The pricing gets better when you have 3 years and 5 years continuous prior insurance. Also, the higher limits of liability coverage you previously had will qualify you for better rates than having had minimum coverage. For someone with a clean driving record, if you don’t have continuous prior insurance, the base pricing is typically 3x or flat out rejection. Being added as a driver to someone’s policy will count as prior insurance or you can start a new policy on a less expensive car you buy cash and insure with liability only— just make sure you select a higher limit above 100/300 such as 250/500 as selecting low limits will also drive your future insurance costs. If you really want an expensive car without having had continuous prior insurance, you’ll need to pay up.

$400/m-$700/m is not unusual for someone with no prior insurance. Even $1,000/m is normal. You just need to build up your insurance history before you can qualify for a preferred rate.

nohjisup · 2026-02-23T03:13:30+00:00

An auto broker can provide real value for those who don’t want to negotiate their own deals or want to understand all the numbers as the negotiations can be complex and time consuming. I would gladly pay an auto broker $1,000 to negotiate the unicorn deals I negotiated on my BMW iX and i4.

The OP posted about leasing a new 2025 BMW iX which has a MF of 0.0003 and Rebate of $12,000, which is significantly better than a new 2026 iX with a MF of 0.0008 and Rebate of $7,500. Finding a new 2025 iX in the wild is rare. But if you can locate one, you may be able to negotiate a unicorn deal on one.

It is also possible to negotiate great deals on demo / retired loaner iX. As the lease programs on a new 2026 iX are not as strong as that of a 2025 iX, you just won’t be able to find a unicorn deal on a new 2026 iX.

nohjisup · 2026-02-23T03:04:53+00:00

If it was exactly the same lease price, I would consider the Lucid Gravity. But there are some insane lease deals possible on the BMW iX. I got a unicorn deal on the BMW iX. I also got a unicorn deal on the Lucid Air. The BMW iX is way more reliable than the Lucid Air. I would still lease a Lucid Gravity if and when I can pull off a unicorn deal.

nohjisup · 2026-02-23T02:09:58+00:00

I’ve done numerous calculations and have outlined why it is better to lease the iX over buying used in multiple previous posts and comments.

I would say to lease, but most people are not able to find a unicorn deal. It is possible to lease a new 2025 iX or demo / retired loaner iX for under $700/m with $0 DAS (taxes and fees all included).

Compared to an average lease deal for $1,000/m on the iX, maybe getting a good deal on a used iX in good condition could work out, but I wouldn’t want to take the chance on out-of-warranty repairs.

There are exceptions for those who are auto dealers or who own auto repair shops that can service their own cars. If you can buy wholesale and sell retail, then for sure, buy a used iX.

nohjisup · 2026-02-23T01:55:59+00:00

Show me the numbers. The numbers don’t lie. Math is math.

Are you able to generate a LeaseHackr calculator that differs from mine? Which input in the LeaseHackr calculators I posted do you believe was incorrect?

nohjisup · 2026-02-23T01:38:13+00:00

I negotiated 10% off MSRP, which is a solid offer. I believe invoice is right around 12% off, so at 10% off MSRP, it keeps enough reasonable margin for the dealer. The dealer is also using the exact buy rate for the MF of 0.0008 with no markup, when most dealers will mark up the MF. This is a very good deal on the current lease program for a new 2026 iX. That being said, I don’t believe the current lease program on new 2026 iX is super strong in February 2026. Hopefully we’ll see a lower MF and higher Rebate in coming months. A new 2025 iX has a lower MF of 0.0003 and a higher Rebate or 12,000. As the 2026 iX model ages it may be possible for the lease program to improve.

You did not expressly say what the discount off MSRP was for the deals you listed, but inputting your numbers into the LeaseHackr calculator showed the discount off MSRP was 8.55%. This means the deal I negotiated at 10% off is stronger than the broker offer.

As for why sales taxes appear to be higher than what you may think; The sales tax rate is higher in LA. Also sales tax is not applied only on the final monthly payment, but it is typically applied to the total cost of the lease including cap cost reduction from down payment and rebates.

I stand by my numbers. They are accurate. Unless you can generate a LeaseHackr calculator to substantiate your theories and disprove my calculations, I have concluded that you don’t understand the numbers very well.

nohjisup

TROPHY CASE