Payoff BMW Lease

Hi there, need advice on my lease-end options.

Leased a demo 2018 BMW 330GT with 7k miles (new MSRP $54k) and my end of lease is coming up mid-November with option to extend for 2 more months. Payoff amount is just over $29k + tax&fees. The service maintenance is expired and warranty ends in April 2022.

My current mileage is 29K and I drive around 6k miles per year.

I very much like the car: smoother drive than a compact SUV but as spacious if not more.

My questions:
1- Considering the current market, would you advise to finance and payoff the car?
2- If I pay it off, how much should I budget for the maintenance and repairs?
3- Is there any good place to estimate the price of the car in 3 and 5 yrs in future?

Thank you!

How much will carvana/carmax give you for it now? No point in buying it out if you’re going to be upside down already.

Carvana’s offer is $27k

before you return it, remember to make sure you change the oil. if you have an oil light on and the car is returned, you’re going to get charged.

1 Like

So you’re instantly several k in the hole, during a time when used cars are worth extremely high amounts compared to normal. I wouldn’t touch that with a 10ft pole.

1 Like
  1. If you like the car a lot then finance it for $29k. PenFed.org or other places.
  2. Lots…hehe.it’s a bmw, but I’ll leave it to the experts. I would say get a warranty (Penfed for example only gives 5 years or 100k for $3000)
  3. Impossible. That’s like knowing into the far future, anyone who can predict that far forward is probably lying. 6 months , 1 year? Maybe, but 5 years nah.

Edit : Wrong price for Warranty

1 Like

That’s a Route 66 warranty AFAIK, and can sometimes be found for less thru other credit unions.

1 Like