12-07-2018, 03:08 AM | #1 |
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Deal on extended warranty or sell?
Hi guys. My 2016 DG X5m lease is up at the end of this month. Because I've really loved the car, have had only minor issues and have low miles (~27,000), I'd like to get a price on a full coverage BMW backed warranty. Any suggestions on who to call?
My sticker MSRP was around $107,xxx and BMW is offering to sell it to me for $59,000. I'd have to add warranty on top of that. Selling dealer offered to CPO it for a little over $2500, but that only takes me out for another 2 years (4 years factory plus 1 year CPO). What are your thoughts on it? Any suggestions on getting best price on the highest tier warranty or would you just sell? Thanks |
12-07-2018, 08:32 AM | #3 |
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I dunno, owning any M car outside of warranty seems like asking for big expenses eventually. High performance cars arent *more* reliable than usual.
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12-07-2018, 03:31 PM | #4 |
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That sounds like a pretty good price on the buyout. I personally wouldn't spend $2,500 on a year of CPO, I'd put that money towards an extended warranty. Even then, you'd be below what seems to be the market price for a similar car.
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12-17-2018, 05:52 PM | #5 |
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i'd think you could sell private with that low of miles and get around 65-70k. Since your mileage is so low though, you likely won't have any major mechanical issues coming up. I'm at 37k and have no issues at all.
Your call. You might be able to make some extra cash and roll that into a new one. I'd say shop around for another warranty (I paid 4k for a 5yr. 100k warranty) and in that case hold until the 2020 X5M rolls out. No point in buying a 2018 now unless you really just want a brand new one. here in UT, the tax rate will eat up all the benefit of buying sometimes so factor that in. but that might not be a factor in your state. |
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12-17-2018, 06:24 PM | #6 |
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I'm with baxter on this. The buyout price is more than fair imo. Skip the CPO and shop around for an extended warranty instead from different dealerships, as this is negotiable & not set in stone. Also factor in how long you plan to own this vehicle when buying the extended warranty.
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12-17-2018, 06:51 PM | #7 |
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Don't you still have a full year in bumper to bumper? Seems like a no brainer at 59k. But it. Drive the hell out of it. And then sell it before factory warranty is up.
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12-18-2018, 02:07 AM | #8 | |
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If those numbers work out, then to drive a 3 year to < 7 year old car an additional 4 years would cost me roughly $45,000 (59K + 6K = 65K - 20K). Added to that would be the unknown maintenance cost for 3 years. In comparison, driving a 0 - < 3yr old XM 5 has cost me roughly $45,000. Does it even make sense to buy it versus lease another one? If the residual value of the 2016 is much more than the 2012 than I figured, then maybe. Your thoughts? |
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12-18-2018, 12:10 PM | #9 |
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Let's face it, these M's are a heavily depreciating asset to be sure. However, if you were to set aside or invest that $6100-6900 you were quoted for future repairs, instead of locked into a warranty plan, you may come out ahead on this. This generation F85 is much more reliable than the previous gen E70. Or at the first sign of major trouble (doubtful), sell it. It's your call of course.
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