Question about end of lease??

lance · 06-30-2009, 10:46 AM

I have a 2007 335 2Dr and my lease is going to expire in October of this year. The bad thing is that I have 50110 miles on it and I only had 36,000 mile lease. I moved in the middle of my lease so my daily commute tripled! I am thinking about keeping the car and financing after my lease is up. Also I'm looking into purchasing an extended warranty but I called and BMW told me for a 36/36000 extended warranty it would run $2110.00 with a $100.00 detuctable. Should I wait till I refinance for the warranty and are there any tips about refinancing an end lease car?

Thanks in advance,
Lance

Curt2000 · 06-30-2009, 11:22 AM

Quote:

Originally Posted by lance

I have a 2007 335 2Dr and my lease is going to expire in October of this year. The bad thing is that I have 50110 miles on it and I only had 36,000 mile lease. I moved in the middle of my lease so my daily commute tripled! I am thinking about keeping the car and financing after my lease is up. Also I'm looking into purchasing an extended warranty but I called and BMW told me for a 36/36000 extended warranty it would run $2110.00 with a $100.00 detuctable. Should I wait till I refinance for the warranty and are there any tips about refinancing an end lease car?

Thanks in advance,
Lance

You need to figure out what the lease end buy out is vs. what the car is actualy worth because since you have grossly gone over your mileage the dealer will not budge on the residual and you might have a hard time getting it financed.

If the difference between the residual and actual worth is more than what they will charge you for 14000 x $ mileage rate then you should probubly just bite the bullet and pay it and opt for another lease or buying a car with less miles on it that still has a warranty.

blue2fire · 06-30-2009, 11:27 AM

This is a seriously bad position to be in for you because the dealers know that there will be a steep price to pay if you walk away and may not be very flexible.

The only thing i can say is, check with multiple dealers before you make a decision. Any of them can negotiate terms with you.

lance · 07-01-2009, 11:43 AM

Damn,...I was afraid of that....

thanks!

06-30-2009, 10:46 AM	#1
lance Second Lieutenant 22 Rep 269 Posts Drives: 09 335i Coupe Join Date: May 2006 Location: USA iTrader: (0)	Question about end of lease?? I have a 2007 335 2Dr and my lease is going to expire in October of this year. The bad thing is that I have 50110 miles on it and I only had 36,000 mile lease. I moved in the middle of my lease so my daily commute tripled! I am thinking about keeping the car and financing after my lease is up. Also I'm looking into purchasing an extended warranty but I called and BMW told me for a 36/36000 extended warranty it would run $2110.00 with a $100.00 detuctable. Should I wait till I refinance for the warranty and are there any tips about refinancing an end lease car? Thanks in advance, Lance __________________ 09 335i Space Gray
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07-01-2009, 11:43 AM	#4
lance Second Lieutenant 22 Rep 269 Posts Drives: 09 335i Coupe Join Date: May 2006 Location: USA iTrader: (0)	Damn,...I was afraid of that.... thanks! __________________ 09 335i Space Gray
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