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BMW 3-Series (E90 E92) Forum
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Refinancing options
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06-16-2013, 11:06 AM | #1 |
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Refinancing options
My lease will end at the end of this year and I am considering refinancing my car into a purchase (in the next month or so while interest rates are low). I have a few questions though.
1. Is BMW still offering 0.9% (for Tier 1 credit) through BMW Financial? What are the best deals people are seeing right now? 2. Is it possible to CPO the car? Is there any advantage in doing this? 3. Should I consider purchasing a warranty? If so, how much/how long? FYI, in the 2+ years I've had the vehicle, I haven't had any significant issues on the car (ie. no broken fuel pump, injectors, etc) 4. Is it possible to add any dealer installed options or BMW performance parts (ie. BMW performance exhaust) to the car and roll it into my refinance costs? 5. Aside from the residual + taxes + remaining payments, what other costs can I expect from this? Thanks everyone. |
06-16-2013, 11:22 AM | #2 |
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IDK about CPO, but you can buy the extended warranty though BMW as long as the original warranty hasn't expired - mileage or years. I just checked last week with one dealer and they had the 7yr/100k Platinum coverage for $3500 (that was for '11 335is - not sure if the price changes based on models)
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06-16-2013, 11:51 AM | #3 | |
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06-16-2013, 02:11 PM | #4 |
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I think that is from date of purchase. I would hold off on the extended warranty, I assume you are talking about the maintenance plan. as it has been said, you have until the original warranty expires to get the extended. If you haven't had brakes by then, I would get the extended. The brakes will pretty much pay for the extended or at least make it worth it.
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06-16-2013, 03:41 PM | #5 | ||
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06-16-2013, 04:29 PM | #7 |
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If you are capable of taking a $7K hit without throwing yourself into financial turmoil, then you are much better off not extending the warranty. You may not have any problems. You may have minor problems. You may have non-covered problems. You may get in a wreck. You may sell the vehicle. There are just too many variables. Either way it is a gamble, but the odds are better that you will not have problems that exceed the warranty value.
Keep in mind that all the issues that are raised on these forums are NOT representative samples of all cars. If the total population of BMW's had the percentage of problems as enthusiast have, then BMW would be bankrupt and very few people would be willing to buy these cars. Also, if you are thinking that you want to mod the car, you are asking for trouble by extending the warranty. |
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06-16-2013, 04:40 PM | #8 |
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Agreed the extended warranty is probably superfluous, considering your factory warranty should be up for a good long while still. In addition, you have the N55 motor, which is miles ahead of the N54 in terms of reliability so you shouldn't be too worried about any horror stories you hear on the forums.
CPO may be a good idea because it really helps the resale value later on in case you end up selling it for whatever reason. |
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06-16-2013, 04:57 PM | #9 | |
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06-16-2013, 05:19 PM | #10 |
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Nice. That's a great perspective on the extended warranty. Good to know I can/should at least wait until I get close to the end of the regular warranty to decide.
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06-16-2013, 06:39 PM | #11 |
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I would get extended warranty or CPO if possible especially if you were to purchase the vehicle, and there will be a admin fee on top of what you owe when you are to refinance the car.
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