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      07-16-2014, 10:13 AM   #23
greentrbo95gst
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Originally Posted by xdriverx View Post
You know the saying that BMW's are great to own until the warranty runs out. It's very true. It's highly recommended to purchase an extended warranty after the standard warranty runs out or you will be paying a lot to maintain the vehicle. I've only ever leased my BMW's because I like having a new car every 3 years and I don't want to pay maintenance costs. Obviously there are pros and cons to each. I personally don't want to buy something that depreciates so quickly in value. Leasing makes the most sense to me and many other people.
Lol, that's the saying of people who don't take care of their cars.
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      07-16-2014, 11:33 AM   #24
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Originally Posted by Overtaxed View Post
Most people make leasing way too complicated. The decision to lease vs buy really comes down to a few things, and, frankly, payment isn't one of them.

Reasons to lease:

You want a new car in 3 years and you live in a state that only taxes the lease payment - Buying an 80K car and paying all the tax upfront (5K or so) as compared to only paying the tax on the depreciation (2K or so), saves you (as you can see) a lot of money if you trade the car every 3 years.

The money factor on the lease is lower than the interest rate on a loan. This is a no brainer, lease! They are giving you the option to buy at the end of the lease for free in this case. Financially, this should never happen, but, it does happen quite often. You'll see leases with an effective interest rate of 1% and 36 month loans at 1.99%. It's crazy, if that's the case, lease, and don't look back.

You live in a dangerous area/get in a lot of accidents. Lease, turn in a car with a banged up Carfax and never look back.

You think you might want to buy the car, but aren't sure, and the money factor for the lease compared to the interest rate for a loan are similar. A lease is a free/low cost put option, you don't have to exercise that option, but, if you buy, you don't have this flexibility.

Reasons to buy:

Interest rate is lower than the lease (if you're financing).

You're going to pay cash (no interest paid at all), however, you should compare what your cash can be making in the market compared to what you're saving by avoiding the interest rate/money factor. IMHO, most people should not pay cash for a car unless interest rates are out of this world.

You think the residual value is too low (for example a RR sport). However, this is a very dangerous game; IMHO, you shouldn't bet against the bank.

You don't want to put in the effort to figure out how leasing works. This is a non-trivial amount of reading, and, if you don't understand how MSRP/residual money factor and payment all tie together, you're going to get beat up.

I always used to buy cars up until about 6-7 years ago. Now I'll only lease. It's more work, but it's also much "safer" IMHO. Car goes out of style and depreciates like a rock after you buy it? No problem, just turn it it. Car rear ended with 50K of damage a week after you buy it. No problem, just turn it in. Want to get out of the car early? Well, you're screwed, but, no less/more screwed than if you bought it. At least with a lease you know what the damage is going to be (remainder of the payments in most cases). With a purchased car you're negotiating the sale of a 1-2 year old car; it's going to be ugly.

Never put anything down on a lease. IMHO, you probably shouldn't put anything down on a purchase either and just make sure you have gap insurance. New cars are the most often stolen and never recovered vehicles (stolen by pros), let someone else take that risk. Also, if you total it (or someone else does), the gap insurance eats that risk and gets you out of it without, at least, a financial scratch.

Also, leasing doesn't mean that you aren't going to buy the car eventually. If you come to the end of the term and the residual is lower than the actual value, you're in a great situation to figure out if you want to buy it or not. I just did that on my Jaguar XJ; loved the car and wanted to own it long term. Didn't hurt that the residual (after 3 years) was down in the 30's for an 83K MSRP car! Leasing gives you the option to give it back, not the requirement.
Thanks for your further comment. Will look into Leasing vs. Buy more as I was not planning to lease this time.
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      07-16-2014, 11:35 AM   #25
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Originally Posted by greentrbo95gst View Post
You have to be a continuous member for at least 12 months and this has nothing to do with what deal you get at the dealer. You don't event tell them you will use the BMW cca rebate.
Once you get the car you fill out the form on bmw cca and submit proof of sale and you receive a check 30 days later. It helped considering BMW loyalty credit is not there anymore.
Thanks. 30days makes sense from business standpoint. For me, I will benefit this not from this purchase but from future purchases!
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      07-16-2014, 11:42 AM   #26
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Quote:
Originally Posted by greentrbo95gst View Post
Lol, that's the saying of people who don't take care of their cars.
You can take care of your car all you want. But when it's a critical engine or transmission problem, what could you have done to avoid it? That's why manufacturers offer warranties and extended warranties. You pay for peace of mind to avoid stressing about the uncertainties.
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      07-16-2014, 12:17 PM   #27
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I had a 2006 5 Series that I kept for seven years. No major problems at all except a rear axle that wore off and cost about $800. Besides that just oil changes at a trusted local shop, rotors once and brake pads a couple of times I believe. I will depend on your luck.

Expensive cars are naturally more expensive to maintain. If these costs are of a concern then a Honda is always the best bet. I had two Hondas before so I know.
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      07-16-2014, 08:40 PM   #28
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Originally Posted by Aviator_JPN View Post
This forum is indeed great! Thanks for all the input!

One question on the tires, so I'm thinking to get Luxury Line with 19" tires. If I change the run-flat tires to the standard tires, how is the ride difference?

Thanks again!
I changed early because the run flats transmit more road noise to the cabin, the tread doesn't last very long and you don't have much of a variety of tires to choose from. I like vehicles that handle well, so I bought the Michelin Pilot Sports. The difference in ride quality, handling and longevity was huge. The run flats lasted about 24k miles and the Michelins lasted an additional 40K when I sold the car.
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      07-16-2014, 09:07 PM   #29
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Originally Posted by 42pilot View Post
I changed early because the run flats transmit more road noise to the cabin, the tread doesn't last very long and you don't have much of a variety of tires to choose from. I like vehicles that handle well, so I bought the Michelin Pilot Sports. The difference in ride quality, handling and longevity was huge. The run flats lasted about 24k miles and the Michelins lasted an additional 40K when I sold the car.
Thanks. Did you have 19" or 20". Good to know that changing to std tire worked well.
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      07-17-2014, 10:17 AM   #30
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Actually there are two different costs in long term ownership and it seams like this thread does not distinguish between the two.

Maintenance is items that are routinely done like fluid changes , brakes, tires, wipers.

Repair is the cost to replace a broken or failed part.

From a maintenance perspective the cost varies based on how well you treat your car. I change the oil every 7500, diff/tranny at 50k so my maintenance cost are higher but that COULD save in long term repairs.

Tires depends on the type you buy and wheel size. 20" summers are 15k. All Seasons will get you much more like 30-40k.

Brakes will vary. The wife is hard on her brakes and she has 15k left on them and she is at 34k now.
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      07-17-2014, 09:01 PM   #31
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Quote:
Originally Posted by Aviator_JPN View Post
Thanks. Did you have 19" or 20". Good to know that changing to std tire worked well.
Honestly can't remember - either 18 or 19.
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      07-17-2014, 09:12 PM   #32
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Originally Posted by MRV99 View Post
Actually there are two different costs in long term ownership and it seams like this thread does not distinguish between the two.

Maintenance is items that are routinely done like fluid changes , brakes, tires, wipers.

Repair is the cost to replace a broken or failed part.

From a maintenance perspective the cost varies based on how well you treat your car. I change the oil every 7500, diff/tranny at 50k so my maintenance cost are higher but that COULD save in long term repairs.

Tires depends on the type you buy and wheel size. 20" summers are 15k. All Seasons will get you much more like 30-40k.

Brakes will vary. The wife is hard on her brakes and she has 15k left on them and she is at 34k now.
Agreed.

My 9 year old diesel pickup get's new oil every 5 - 7,500 miles, transmission flush every 30,000 (so does my SL550 and my BMW 550i - sold), every 50,000 miles the diff and brake fluid then every 100,000 miles or 5 years, power steering. Don't forget filters like tranny and fuel every other oil change.

I think you see a trend. Not only do my vehicles last, but they are easy to work on and easy to sell.

I only had one thing break on my pick up and the turbo started leaking at 100,000 miles.

Arguably my 9 year pick up cost more to maintain than any of my cars combined. But I don't have a bank payment and insurance drops by the year. My total cost of ownership drops each year I own it, and it does the same exact thing a new pick up does.
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      07-19-2014, 08:58 PM   #33
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Kept my last X5 ('03) for 11 yrs (bought new). Sold with 118k miles. I took the car in for all of the recommended maintenance and repaired minor stuff myself. My out of warranty repairs included: broken driver side door handle (self service), 2 brake jobs, CV joints in the front, broken gears in two front windows (glass gets stuck in down position), AC not cooling due to final stage resister (self service), stuck brake caliber, rear brake light out due to bad contact (self service), oil gasket, LEDs out in instrument cluster (self service), replaced tires twice. Excluding tire replacements, I put about 5k into the car after the warranty expired. Hoping to get 10 years out of my '14 without substantial issues.
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      07-19-2014, 11:50 PM   #34
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Quote:
Originally Posted by joejoejr View Post
Kept my last X5 ('03) for 11 yrs (bought new). Sold with 118k miles. I took the car in for all of the recommended maintenance and repaired minor stuff myself. My out of warranty repairs included: broken driver side door handle (self service), 2 brake jobs, CV joints in the front, broken gears in two front windows (glass gets stuck in down position), AC not cooling due to final stage resister (self service), stuck brake caliber, rear brake light out due to bad contact (self service), oil gasket, LEDs out in instrument cluster (self service), replaced tires twice. Excluding tire replacements, I put about 5k into the car after the warranty expired. Hoping to get 10 years out of my '14 without substantial issues.
$5K for German car is not bad at all, I'd assume.
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      07-20-2014, 07:10 PM   #35
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Quote:
Originally Posted by joejoejr View Post
Kept my last X5 ('03) for 11 yrs (bought new). Sold with 118k miles. I took the car in for all of the recommended maintenance and repaired minor stuff myself. My out of warranty repairs included: broken driver side door handle (self service), 2 brake jobs, CV joints in the front, broken gears in two front windows (glass gets stuck in down position), AC not cooling due to final stage resister (self service), stuck brake caliber, rear brake light out due to bad contact (self service), oil gasket, LEDs out in instrument cluster (self service), replaced tires twice. Excluding tire replacements, I put about 5k into the car after the warranty expired. Hoping to get 10 years out of my '14 without substantial issues.
Wow. It sound like (I hope so) BMW maint is a LOT cheaper than Mercedes. 2 brake jobs on my CLS550 would have just about eaten up all the budget (2K a shot).

Brakes and tires are big numbers on these kinds of cars. The CLS also needed a suspension repair, that would have been a tremendous number without a warranty.
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      09-11-2014, 08:09 PM   #36
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Originally Posted by greentrbo95gst View Post
you can also extend maintenance program to 6 years or 100k miles.
Is the additional 2 years of BMW Maintenance Program for year 5 and 6 worth $2100?

Thanks
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      09-11-2014, 11:04 PM   #37
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When I purchased the car, I paid for $2600 for additional 2 yr maintenance. The way my dealer described it was each time you replace brake pads and rotors , it's about $2200 , at least where I am. Not sure what that costs elsewhere. Add a couple of oil changes and the $2600 is already used up. So it's not really money wasted, eventually you will use it. Unlike if you buy extended warranty, that's money that could be wasted, if there's nothing wrong with the car. So I opted for extended maintenance instead of warranty. Hope I made the right decision! The list price on a diesel for the 6 yr maintenance was $3250, so I got a fairly good discount I guess.
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      09-12-2014, 12:11 AM   #38
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Thanks Cobra.
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      09-14-2014, 12:11 AM   #39
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Quote:
Originally Posted by SUV55 View Post
Is the additional 2 years of BMW Maintenance Program for year 5 and 6 worth $2100?

Thanks
No unless you're due brakes around that time.

I've being off warranty for 2 yrs on my e70. It's being fine. Brakes oil changes and a new wind shield. Nothing big, and nothing that breaks the bank.

Certainly a lot cheaper than a new car payment.
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      09-14-2014, 05:36 AM   #40
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1) Hmmm, so based on others experience with their last gen X5s or other SUVs, if I put 12,000 miles on the vehicle (diesel with 20's) per year with combo of city and highway driving and with typical X5 driving (style) at what year(s) would I likely need brakes done? My vehicle is due in a few weeks.

2) One more scenario, my brother's X5, (diesel with 19's) With 10,000 miles a year, mainly city driving, and a slightly more aggresive driving style, what years would he likely need brakes? We just picled up his vehicle Friday and paid for the maintenance plan.

3) If this scenario has a little likelihood of needing brakes in year 5 or 6, is it too late for my brother to cancel it and get a refund? Once again the price paid for the plan was $2,100.

4) If brakes are not done in year 5 or 6 in either scenario, then how much of the $2100 will likely be recouped for general diesel maintenance?

Thanks

Last edited by SUV55; 09-14-2014 at 06:01 AM..
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      09-14-2014, 07:00 AM   #41
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      09-14-2014, 07:05 AM   #42
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I want to add one more question to this list.
5) For the diesel what are the required maintenance intervals and when does it get to the first really big $$$ one?
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      09-14-2014, 12:34 PM   #43
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Quote:
Originally Posted by greentrbo95gst View Post
You have to be a continuous member for at least 12 months and this has nothing to do with what deal you get at the dealer. You don't event tell them you will use the BMW cca rebate.
Once you get the car you fill out the form on bmw cca and submit proof of sale and you receive a check 30 days later. It helped considering BMW loyalty credit is not there anymore.
Is the BMW loyalty credit discontinued in North America (Canada and U.S.)? I was able to use it December last year
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      09-14-2014, 03:25 PM   #44
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Originally Posted by originalgoods13 View Post
Is the BMW loyalty credit discontinued in North America (Canada and U.S.)? I was able to use it December last year
I was not aware of a BMW Canada Loyalty program, is it applicable on all models ? I did use the 2% BMW Club of Canada Reward Program, i.e. need to be member for 12 months.
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