[wtfbrah]

So I'm getting closer to pulling the trigger on an M240i 2017 build, but I'm having trouble deciding what to do money wise.

Residuals are pretty bad, and if I wanted to put zero down I'm looking at $700+ monthly payment for a lease that I turn in in 3 years with zero to show for it.

So I started leaning towards buying, and I like the BMW select program as well. But either way (finance or balloon finance), you're realistically looking at owning a performance-oriented BMW when it is out of warranty.

If I wanted to finance, I'd finance aggressively and look to finance/own the car over 36 to 48 months, so it would actually be mine in a short few years. However, right about the time that the car becomes "mine", it's also not going to have a warranty.

There are a lot of factors that go into this decision - am I going to want the same car in 3 years, or am I going to want a brand new car? How am I going to drive the car, and how much will maintenance add up to? But I think the real question is, how safe is it to really keep the car after the warranty is up? What am I looking at in terms of maintenance and repair costs for the last 2-3 years of ownership before I actually get a new car, but after my warranty is up?

Any advices?

The tough thing is that leasing w/ zero down and financing aggressively with 5k-10k down are both gonna have about the same impact on my monthly payment... So if I'm just gonna want a new car in 3 years, maybe it makes more sense to lease. But maybe it doesn't, because I could possibly sell the car after 3 years for more than it's remaining payment values.

But do I want to own the car? I would feel weird, like I made a financially poor decision, dropping 23k into a car that I wouldn't own after 3 years. But could it be a worse decision to balloon finance? Drop 10k down, pay several hundred a month, then drop a balloon payment on a car that a) may become unreliable at that point and b) I may want to replace anyways?

Halp!

[BEM-S4]

You can purchase an extended warranty. If you want the best value get an exec demo 2016 M235, or leftover 2015 or 2016 won't have the clock on the warranty started, buy it now pretty close to fully loaded for right around $40k. See if you can get them to CPO it for you, but if not you can extend the warranty anytime before the original expires.

[wtfbrah]

Originally Posted by BEM-S4

You can purchase an extended warranty.

Yeah, but it only extends it by a year to a 4-year warranty. So then the dilemma still exists - keep the car after it's warranty is up, or sell it?

you can extend the warranty anytime before the original expires.

Can you only extend it by 1 year, though?

Maybe I have to look into something like this https://www.endurancewarranty.com/le...d-your-wallet/

[pz619]

Originally Posted by wtfbrah

Yeah, but it only extends it by a year to a 4-year warranty. So then the dilemma still exists - keep the car after it's warranty is up, or sell it?



Can you only extend it by 1 year, though?

Maybe I have to look into something like this https://www.endurancewarranty.com/le...d-your-wallet/

It's 7 years, 100K miles. Are you thinking maintenance contract instead?

[BEM-S4]

You can get up to 7 years warranty for sure, maintenance too I think but you'd need to check. Be sure to research the benefits of 2016 vs 2017 as the warranty program got worse in 2017. 2016 is longer, includes brakes, etc. If you are not married to getting a 240 and could do a 235, you can get a really good deal on one and have the best warranty.

If you plan to keep the car for an extended period of time and are concerned with value as opposed to "latest and greatest" I'd look towards a 2016. Also the 2017 will take a hit $-wise when the 2018 facelift comes out. You should be able to get over 10% off a 2016 leftover, more if you do an exec demo.

[BEM-S4]

I also wouldn't do a third party warranty they can be a pain in the ass. BMW is better. Don't buy right away if you want to get rid of the car early you can save the money. Decide in last month or two of regular plan if you need it because you want to keep the car. Also call around a few dealers they will bid for the $ and you can get a good deal.

[Sportstick]

Yes, I extended mine to 7 years/70k miles, based on my usage. On a $46k MSRP, it added about $2k, which would probably be less than one repair of about anything powertrain-related!

[BEM-S4]

Originally Posted by Sportstick

Yes, I extended mine to 7 years/70k miles, based on my usage. On a $46k MSRP, it added about $2k, which would probably be less than one repair of about anything powertrain-related!

That's probably the cost of just pads and rotors assuming you'll need a brake job somewhere in there. $2k that's a no brainer!

[Sportstick]

Originally Posted by BEM-S4

... that's a no brainer!

A decision for which I'm qualified!

[wtfbrah]

Originally Posted by Sportstick

Yes, I extended mine to 7 years/70k miles, based on my usage. On a $46k MSRP, it added about $2k, which would probably be less than one repair of about anything powertrain-related!

Is this something that you did when you bought the car, or towards the end of your factory warranty?

[Sportstick]

Originally Posted by wtfbrah

Is this something that you did when you bought the car, or towards the end of your factory warranty?

At the time of purchase. Still under the original factory warranty, as the car is just now two years old.

[BEM-S4]

Originally Posted by Sportstick

At the time of purchase. Still under the original factory warranty, as the car is just now two years old.

Just curious, why not wait? Getting a better deal up front is the only thing I can think of if the dealer really worked with you on the cost. Otherwise if you don't want to keep the car, something happens to the car, etc you're out the money.

[Sportstick]

Originally Posted by BEM-S4

Just curious, why not wait? Getting a better deal up front is the only thing I can think of if the dealer really worked with you on the cost. Otherwise if you don't want to keep the car, something happens to the car, etc you're out the money.

At my age (62), I know myself fairly well and what I would do with this carefully considered vehicle purchase. The dealer did discount the extension, although I don't recall by how much, but do remember it was pleasing at the time. Also, it was easy to just write a marginally larger check and get it done with. If the car is stolen or totaled, not sure how BMWNA will handle it, but I suspect there is some accommodation. When my wife's E Class was totaled, Sirius said that was the one exception to the no-transfer aspect of lifetime subscriptions (which was already 8 years old by then for $399....now, that was a good deal! By now, we're amortized at $3.70/month!!), and they transferred it to her new car.

[BEM-S4]

FYI Sirius is really good about stuff like that. I sold my dad's Allroad after having it for 10 months (only 3 with Sirius) and forgot all about it. They called me and cancelled it.

OP check with dealer I am pretty sure BMWFS doesn't give you a refund but I could be wrong.

[bimmerfile]

Originally Posted by BEM-S4

That's probably the cost of just pads and rotors assuming you'll need a brake job somewhere in there. $2k that's a no brainer!

Wear and tear items (e.g. brakes, muffler, tires, etc) are not covered by extended warranty.

[BEM-S4]

Originally Posted by bimmerfile

Wear and tear items (e.g. brakes, muffler, tires, etc) are not covered by extended warranty.

You can extend maintenance too. At least you could when I looked at the packages when I got my 2014 new. You could buy coverage for everything so 7/100 was identical to 4/50 albeit longer.

[bimmerfile]

Originally Posted by BEM-S4

You can extend maintenance too. At least you could when I looked at the packages when I got my 2014 new. You could buy coverage for everything so 7/100 was identical to 4/50 albeit longer.

But it wouldn't be part of a $2K, 3 year extended warranty plan.

[XutvJet]

For one, I can't believe some people carry $500-700/mo leases or notes on their cars. That seems insane to me.

I put down $25,000 and financed the rest. Prior to my BMW, I had owned almost all Japanese cars from 1989 until this year. All my Japanese cars (Nissan, Infiniti, Subaru, Honda, Toyota) lived up to the reliability hype. Never had anything major go wrong.

I'm a car guy thus I figured I'd buy one of the best reviewed BMW's in decades and it was icing on the cake that was it was one of the lowest tech ones offered and it used a fairly tried and true (by BMW standards) N55 motor and ZF 6MT. Most parts are relatively cheap and easy to install with exception of a few select parts that require coding on replacement. BMW does a lot of parts bin sharing now which helps.

I tend to keep my cars 4 to 7 years and I drive around 10K miles a year. Where I can, I maintain the car myself and can do most anything on a car short of pulling a motor or tranny. Brakes, suspension, and things like that are easy on cars and even the M235. I figured I'd give this car a shot for 4 years and if it's a POS, I'll sell it. Otherwise, I'm ok with spending $1,000-2,000 (including tires) year on average maintaining/repairing it. This is WAY more than I typically have spent on my other cars. This is also assuming I still enjoy the car.

And yes, I know I'll loose my butt when it comes to resale. Hopefully my special order MW/Coral Red, 6MT, moonroof delete, non-nav, HK stereo, parking assist M235 will cater to a more select, performance focused buyer willing to pay a little more. I'm willing to risk resale to own a fun car. This car certainly is that type of car.

[aerostar]

If you have Geico look into the Mechanical Breakdown Insurance.

[hoppy6698]

Originally Posted by Sportstick

Yes, I extended mine to 7 years/70k miles, based on my usage. On a $46k MSRP, it added about $2k, which would probably be less than one repair of about anything powertrain-related!

Sorry to interrupt, but when is the last time you can purchase the extended warranty?

[Sportstick]

Originally Posted by hoppy6698

Sorry to interrupt, but when is the last time you can purchase the extended warranty?

Sorry, I do not know....would have to call the dealer.

[BEM-S4]

Originally Posted by Sportstick

Sorry, I do not know....would have to call the dealer.

Anytime before the original expires so you could do it in 3 years 364 days and 49,999 miles. That said if you didn't buy your car brand new (exec demo, CPO etc) make sure you know the in service date that starts the clock. Euro delivery as well I assume the clock would start when you get car in the motherland not when it arrives stateside but I'm not 100% sure on that.