Purchase / Lease of 2007 550i questions
10-08-2006, 07:49 AM
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Hi everyone, my question is not re: lease vs. purchase but more about leasing and driving over the warranty time frame.
I am 1-2 weeks away from ordering a 2007 550i. The lease rates are insane this month but my major concern is I drive about 20-21k miles per year. I don't mind paying for the miles upfront for .15 cents per mile; my concern is I will be driving out of the warranty period for 10k-15k.
Is this a situation where I should really consider a purchase instead, keep the car longer and purcahse the 6 year, 100k warranty?
If I lease, what specifically would your concerns be about driving over the warranty period besides no more free maintenance.
Thanks for the help!
bmwccc
I am 1-2 weeks away from ordering a 2007 550i. The lease rates are insane this month but my major concern is I drive about 20-21k miles per year. I don't mind paying for the miles upfront for .15 cents per mile; my concern is I will be driving out of the warranty period for 10k-15k.
Is this a situation where I should really consider a purchase instead, keep the car longer and purcahse the 6 year, 100k warranty?
If I lease, what specifically would your concerns be about driving over the warranty period besides no more free maintenance.
Thanks for the help!
bmwccc
10-08-2006, 11:27 AM
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My Ride: 545iSMGSilver GrayAuburn Dakota LeatherLogic 7 Premium SoundSports Package
10 to 15K out of warranty? I wouldnt worry TOOO much... its not like theres a built in time bomb that once BMWs hit 50K miles it'll go ka-boom and break down on you. Or I can be wrong... But I'm sure it'll be fine. You'll get to know the car more once you get it... if its reliable all its life I dont see why an extra 15K highway miliage will do any damage.
10-08-2006, 01:18 PM
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Lease rates are now quite favorable! 
http://www.bimmerfest.com/forums/sho...d.php?t=168909
I thought I got a once in a lifetime lease rate when I leased my 545i with 0.001 money factor - you can now get 0.001 (2.4% APR) for a 530i and 525i and 0.0015 (3.6% APR) on a 550i - too good of a deal to pass up.
I suggest you lease the car then you can either 1) return it if it is a lemon (and pay mileage charges) or 2) buy it at end of lease and get the 6 year/100K extended warranty.
http://www.bimmerfest.com/forums/sho...d.php?t=168909
I thought I got a once in a lifetime lease rate when I leased my 545i with 0.001 money factor - you can now get 0.001 (2.4% APR) for a 530i and 525i and 0.0015 (3.6% APR) on a 550i - too good of a deal to pass up.
I suggest you lease the car then you can either 1) return it if it is a lemon (and pay mileage charges) or 2) buy it at end of lease and get the 6 year/100K extended warranty.
10-08-2006, 08:53 PM
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My Ride: 2008 Silverstone II E60 M5 2012 E70 AW X5 50i Sport w/ LCI Aero Kit and Rocker Panels
Originally Posted by LowOrbit' post='342886' date='Oct 8 2006, 05:18 PM
Lease rates are now quite favorable!
http://www.bimmerfest.com/forums/sho...d.php?t=168909
I thought I got a once in a lifetime lease rate when I leased my 545i with 0.001 money factor - you can now get 0.001 (2.4% APR) for a 530i and 525i and 0.0015 (3.6% APR) on a 550i - too good of a deal to pass up.
I suggest you lease the car then you can either 1) return it if it is a lemon (and pay mileage charges) or 2) buy it at end of lease and get the 6 year/100K extended warranty.
http://www.bimmerfest.com/forums/sho...d.php?t=168909
I thought I got a once in a lifetime lease rate when I leased my 545i with 0.001 money factor - you can now get 0.001 (2.4% APR) for a 530i and 525i and 0.0015 (3.6% APR) on a 550i - too good of a deal to pass up.
I suggest you lease the car then you can either 1) return it if it is a lemon (and pay mileage charges) or 2) buy it at end of lease and get the 6 year/100K extended warranty.
10-22-2006, 04:13 PM
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Originally Posted by cmansbimmer' post='343008' date='Oct 9 2006, 12:54 AM
Hey bmwccc,
Just get the 550i and stop being a pansy.
Just get the 550i and stop being a pansy.
If you plan to drive high mileage and worry about being out of warranty and full maintenance, why not consider a shorter term lease? BMW's programs for 24 or 30 months are not that bad. Might be a little more than 36 months, but you eliminate that risk and you also get to get a new car sooner.
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