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BMW 3 Series, Sedan, Wagon
#11316 of 12233 2008 328i BMW (Premium) Pricing Question
Mar 22, 2011 (5:30 pm)
I've been hunting for a good deal to buy out my lease which ends very soon. I have a 328i (Premium) with about 28K miles on it. My lease lists the residual at about 21.8k. The best offer I've received from any dealer in the vicinity is $24,500 for the car plus the extended warranty. That amount includes $1000 for the end of the lease payments. So essentially its $21,500 for the car and $2K for the extended warranty (no maintenance). I treat this car very well. No accidents and no rough driving. This seems pretty reasonable to me...or am I making a big mistake.
My alternative would be to buy a similar pre-certified car (automatic + sports package) for $24,700 out the door from the same dealer (with the financing tricks I can get maintenance thrown in for free). The negative is I don't know who previously owned it and they put 6000 more miles on it that I have on my car.
#11317 of 12233 Re: 2008 328i BMW (Premium) Pricing Question [dew9]
Mar 23, 2011 (8:11 pm)
You should buy the car you have owned since new. There is less risk that way. Even if you have to pay a bit extra for it. My .02.
#11318 of 12233 Re: 2008 328i BMW (Premium) Pricing Question [dew9]
Mar 24, 2011 (9:47 am)
Buy your car, even if costs a little more.
#11319 of 12233 Re: 2008 328i BMW (Premium) Pricing Question [dew9]
Mar 24, 2011 (3:39 pm)
I wouldn't worry about the extended warranty on a 328i- especially if you're the original owner. I bought a CPO 2004 X3 2.5 back in 2005 and I never made a single claim under the CPO warranty. At 110,000 miles I've had no mechanical failures of any kind. I've bought one set of pads/rotors, two sets of tires, and followed the "old school" maintenance schedule. It's been the most trouble-free car that I have ever owned.
#11320 of 12233 Re: 2008 328i BMW (Premium) Pricing Question [roadburner]
Mar 24, 2011 (7:27 pm)
I've kicked myself quite a few times for NOT buying out the lease on our former 2007 X3.
#11321 of 12233 Re: 2008 328i BMW (Premium) Pricing Question [roadburner]
Mar 25, 2011 (4:10 pm)
Are you talking about the "Extended CPO Warranty" or the "Maintenance Warranty". One of the dealers (unfortunately one of the two with the lowest prices) is playing Three Card Monte with the terms. As I understand there are 2 types of "warranty". The Extended Warranty (major parts, electronics, etc.) and the Maintenance Program" (brakes, fluids, oil changes, etc). With respect to each:
1. I've been told that I can only get the BMW Extended Warranty if certify my car which will cost an unknown figure. Until ten minutes ago, this was not the case. Now it is the case at at least 1 of the 2 dealers.
2. Also until ten minutes ago, I could get the Maintenance Program if I finance my purchase at a high rate 6-7% and then pay out the lump sum remaining after Three Months to BMW Finance. Dealer #2 said that this is impossible because BMW Finance prohibits that a lease owner from buying out his car and getting into the finance program wherein maintenance provided at no additional cost. I called BMW Finance and they denied this. I suspect it might be a dealership by dealership decision.
Anywhat, I thought I had a pretty good deal - about 24.5 for the car + extended warranty, and then the maintenance for 3 months of financing.
Should I forgo all of the extra coverage and just buy my car straight from BMW Finance and tell the dealers to pound sand? Or should I man up and get some added protections, and if so, which ones?
Thanks in advance.
#11322 of 12233 Re: 2008 328i BMW (Premium) Pricing Question [dew9]
Mar 25, 2011 (8:08 pm)
I wouldn't pay for either coverage. From 50,000-100,000 miles I spent $2,585 on maintenance as well as a four wheel brake job for my X3. Nearly $600 of that amount was for maintenance that BMW does not call for(ATF and transfer case oil changes and twice as frequent engine oil changes).
#11323 of 12233 Re: 2008 328i BMW (Premium) Pricing Question [dew9]
by kyfdx@Edmunds HOST
Mar 26, 2011 (8:19 am)
If you are the original lessee or owner, you can buy the extended warranty and maintenance at any point before the original plans expire (which is at 4yr/50K).
Also, you can buy them from any BMW dealer in the US.. and, with a little research, you can find dealers that discount those prices. For example, the extended maintenance on an E90 3-series has a list prices of $2095 and a dealer cost of $1595. Many dealers will knock $200 off without blinking, and others might go as low as $1750.
However, if you don't drive a lot (and I've lost the thread on how many miles you drive), then these plans are of less value to you, though the cost is the same. They work well for those who have driven 45K-50K miles on their three year lease, and expect to do the same for the next three years.. For those that drive less, I concur with the others... not worth it.
#11324 of 12233 CPO'd 08 328i
Mar 26, 2011 (3:08 pm)
Looking for thoughts on a CPO'd 2008 328i with premium/satellite radio/heated seats and moonroof.
dealer listing as 27,350 Warranty remaining until 3/14
Think there is room to move on this? I have some questions into the dealer on pricing but want to see where a fair price would be
#11325 of 12233 Re: 2008 328i BMW (Premium) Pricing Question [kyfdx]
Mar 26, 2011 (6:29 pm)
Quick update, I bought the car for the residual and passed on the extended warranty and maintenance. If I subsequently determine to by the extended warranty and/or maintenance, I'll do so next year when the current ones are set to expire. Thanks for the help!