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BMW 3-Series (E90 E92) Forum
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Should I buy her out?
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11-26-2010, 03:38 PM | #1 |
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Should I buy her out?
Shes from '07. Residual is $27k and 65k on the clock. I would have to get a bank loan to have her.
She's already been in an accident but there was no frame damage. Half the car was painted and two right doors were replaced. CPO's with same mileage and year are being sold for about $30k and I plan to keep her for next 8 years if I do buy her out. Im in love..Opinions please.. |
11-26-2010, 04:06 PM | #3 |
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I agree. Unless you did mods and personalized it beyond being able to let it go for another one, then I know for a fact that you can get the same car cheaper and even a 335i for cheaper, depending on options. I recently picked up a jet black 07 335i e90 6MT with 40k on the clock for $21k. But it was stripped with no nav, no sport, no bluetooth etc. I was looking at a few that had sport and premium package with 40k miles for $25k or less. Just do some research at different dealerships and even autotrader. Good luck.
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11-26-2010, 04:07 PM | #4 |
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I doubt it can last for another 8 years without major repairs.
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11-26-2010, 06:33 PM | #5 |
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Let it go.
With the known accident history, who knows how the finish is going to stand up over time. Nothing drives me nuts more than dull/mismatched paint do to low quality repair. Plus for the $$$, you can do better. Buy a CPO for the extended warranty. |
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11-26-2010, 08:41 PM | #8 |
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I would get another one and forget about the accident. Then that's just me. I had a similar situation in 2004, traded in my 2001 Mercedes (I hit a dear with it, it came out of nowhere).
Traded it in for a new car, I still drive it as my family car. I would lease another one and purchase one once I am ready to do so in cash. Or find a nice used one for a good price one that was returned with low milage by a careful driver. I find it best to get to know the sales guy, let him know you are in the market. What do you think?
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11-29-2010, 05:28 PM | #10 |
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328 might last longer than the 335
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11-29-2010, 05:35 PM | #11 |
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give her back. thats the whole point of leasing a car --- so u can give it back and get another one at the end of the lease.
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11-29-2010, 05:56 PM | #12 | |
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Quote:
The residual on my 09 335 is only 24,xxx and thats after a 3 1/2 year term with freight and pdi down. |
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11-30-2010, 12:02 PM | #15 |
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Accident caused damaged to two doors which were replaced and one whole side of car was repainted. Work was done at a bmw dealership but who knows how long the work would last.
Should I buy it out if I plan to run it down? |
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11-30-2010, 12:16 PM | #16 |
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look at the trader.ca, is your buyout price equal or lower to what it sells for not cpo? if it is, and you want to run it down, i'd say buy it out.... by having it 3-4 years after the buyout you will lower your overall monthly payments for when you leased by a good amount
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11-30-2010, 03:27 PM | #17 | |
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At the same time, as others have said, you may be able to get a used 335i for the same price or less. But don't forget, your 328i will likely be more reliable. On the the other hand, you know the history of car and you took care of it - so it may be worth more to you than it's actual market value. At the end of the day, it's a very personal decision that only you can make.
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11-30-2010, 07:41 PM | #18 |
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Well, it might, but I already spent over 2k on repair on my 328.
Two failed door lock actuators Leaky transmission sensor/seal Regular maintenances aside, I do not expect these to fail within 100k. Door locks right at 100k, transmission leak at 80k.
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12-01-2010, 01:39 AM | #19 |
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How are they screwing anyone? By definition if the buyout is higher, the payments have been lower, and vice versa. If his buyout was lower, he would have spent exactly the difference in higher payments for the term of the lease.
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12-02-2010, 09:56 AM | #20 |
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I would let the car go. Luxury brands lease more than they finance or sell at cash. I suspect that BMW has been setting high residuals knowing that they will take a loss there - but they do not want to discount the sticker price. It means that your monthly payment is lower (lower amount of capital that you are paying back).
The prices that they are getting for the cars at auction are much lower than these residuals. Part of that is that BMW FS is amortizing options at the same rate as the vehicle but much of it is just a hidden "discount". Remember many options do not hold any value at wholesale. I turned in my X5 at the end of its lease. Residual was 59k, auction values were 52K. |
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