04-06-2021, 04:07 PM | #1 |
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Planning to buyout 2018 BMW 340i. Lease ending in July. Next steps?
Hi All,
I have a 2018 BMW 340i (shadow sport edition, mediterranean blue) lease, which is going to end in July. It's currently at 22k miles. Lease residual is ~$34k. So far, there have been no issues with the car, and I really like it. I would rather not get into another lease/new car buying process right now. I plan on keeping the car as long as possible. Last year, I saw many people getting anywhere between $3k-$5k customer rebates by BMWFS during the end of their lease. So far, I have not seen anything while logging into my BMWFS amount and checking the payoff documents. Questions: 1. Can I extend the payoff process by 2-3 months? 2. Has anyone got any rebates this year? Should I contact BMWFS about it right now? 3. Should I totally bypass the dealer and get financing from BMWFS? Or try local credit union? I am planning to make at-least $15k downpayment towards the car. 4. What's the best approach for an extended warranty? Shop around local BMW dealers? Thanks! |
04-06-2021, 04:35 PM | #2 |
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For number 4 yes, you can actually buy it from any dealer in the country. I did mine from BMW of Willmington for a 2015 335i and saved a couple thousand compared to what everyone else was asking. Let me know if you find a good finance manager in your hunt I may get one myself
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04-06-2021, 05:04 PM | #3 |
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Drives: 2018 340i M Sport
Join Date: Apr 2006
Location: Chicago, Edgewater (via Texas & Tennessee)
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Garage List 2018 BMW 340i M Sport [8.58]
2020 BMW M340i xDrive [9.00] 2018 BMW 340i M Sport [7.38] 2006 BMW 330i Sport [5.83] 2004 BMW 330i ZHP [7.13] 2000 BMW 328i [6.17] |
1) Not easily and probably not at all.
2) Wait until you’re within 90 days of lease maturity. Maybe even 60 days. 3) I don’t think you can finance with BMWFS without involving a dealer. Pentagon FCU www.penfed.org is an excellent credit union. Anyone can join by joining (one time) a military support organization (there is a link included in the sign up process). 4) PenFed also sells a very good extended warranty. https://www.penfed.org/auto/extended-warranty
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www.bmwcca.org member #388003 - Use me as a referral & you could win a one day ///M Driving School!! ___________________________________________ Last edited by tturedraider; 04-06-2021 at 05:12 PM.. |
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04-07-2021, 10:37 PM | #4 |
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If you are buying the car, why would you want to extend the lease? It sounds like an expensive way to buy a car. When COVID started, Bmw didn’t want their leases back, thus incentives for people to keep them. I don’t know if that’s still the case.
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04-08-2021, 10:42 AM | #5 | |
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3 series, 340i, lease, lease buy out |
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