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BMW 3-Series (E90 E92) Forum
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take free maint or special financing??
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02-05-2010, 09:41 AM | #1 |
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take free maint or special financing??
Our lease is up next month on our E90 328i. I have been talking to the dealer and right they are offering 2.9% financing for upto 60 months on CPO'd cars or 2 yrs/50K free maint along with the extended CPO warranty
Penfed is offering 3.9% for up to 60 months on used cars. Would it be worth it to take the free maint offer from BMW and finance through Penfed or just go through BMWFS at 2.9? I like the idea of having free maint but is it really worth it? Also when we leased our current BMW we did the tire/wheel warranty, can you also do this on used CPO'd BMWs? Thanks for any feedback. |
02-05-2010, 09:56 AM | #2 |
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What does the maintenance include? Oil changes/tire rotations/brakes? If it includes all that, you're going to save way more by going with free maintenance than a 1% differential in financing rate
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02-05-2010, 10:30 AM | #4 |
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02-05-2010, 10:32 AM | #5 |
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+1 4/50K
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02-05-2010, 10:37 AM | #6 | |
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02-05-2010, 10:59 AM | #9 |
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Is the dealer talking about the extended maint and cpo plan that u can add on after the original maint plan is up?
If so then I'd say go for the free exteneded maint plan added on the to original, that's about a +$2k value
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02-05-2010, 11:14 AM | #10 | |||
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http://www.bmwusa.com/standard/conte...ialoffers.aspx reading the fine print, it looks like I would still have to finance through BMW financial to receive the additional 2yrs free maint. Correct me if I am wrong, anyone? Thanks again for the replies. |
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02-05-2010, 11:17 AM | #11 |
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BMW has no prepayment penalty. don't worry about refinancing
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02-05-2010, 11:27 AM | #12 |
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The maintenance is 100% predictable, so obviously that is in BMW's favor. What they cannot predict is the op's financing the full cost of the vehicle (maximum savings) at 2.9%. Then again, in the real world, 2.9% is nothing to write home to mother about. My HELOC is 2.5%--yes, it's variable, but 0.75% below prime. Given the current environment I'd pass on both the free maint and the 2.9%.
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02-05-2010, 11:37 AM | #13 |
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^^ wow I think that the free maint is a great deal, depending on your interest rate, dig into what % BMW would charge you and then see.
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02-05-2010, 12:00 PM | #14 |
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thats what I just asked her about. She reaffirmed my original thought, that to get the additional 2yrs free maint you must finance through BMWFS. I asked her what the rate would be and she hasnt responded yet.
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02-05-2010, 12:43 PM | #15 |
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Additionally what is the annual mileage on your car and what is the current mileage and age. That will determine what you'll get free as far as maintenance. Let's say you only put 10K a year and the car is 3 years old at 30K. You will probably get nothing under the maintenance clause for the remaining year on your original plan and under the new addition you'll get the 45K oil service and the 60K service which is oil plus visual inspection, you might get a brake service as well. So the free maintence will amount roughly to $1000 best case if you get the brake service. I doubt you would save that on the 1% interest reduction and if you run out of warranty time you could refinance and pay off early with HELOC loan or something like that. You really need to add up all the scenarios but I doubt you'll get a lot for free.
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02-05-2010, 03:34 PM | #17 |
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I just did this CPO with additional incentive +2 year of maintenance thing. Yes, you will have to finance your car through BMWFS to get this free maintenance, and will have to keep the loan opened for 4 months, after that, no pre-payoff penalty. I got a rate of 5.4% through them, which is around 1.5% more than PenFed, not too bad I supposed. The cost of this maintenance contract is around $2,100 (if you want to buy it at the MBW dealership). I plan to pay it off after this 4 months so it worked out for me.
Last edited by hh7364; 02-05-2010 at 03:49 PM.. |
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02-05-2010, 03:36 PM | #18 |
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02-05-2010, 03:41 PM | #19 |
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depends on how many miles you drive and how many are on the car -- the "free" maintenance option could be worth $0 if you drive too many miles , as it only adds another 10K miles to the total. That's not a lot.
Run the numbers and figure it out, but if you drive a lot of miles, I bet you'll be long past 60K before the extended maintenance even kicks in. |
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02-05-2010, 03:46 PM | #20 | |
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02-05-2010, 08:16 PM | #21 |
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wow alot of conflicting answers here! Our current vehicle is a 2007 328i E90 with steptronic, heated seats...just your basic car. It currently has 26,5xx miles on it. Our buyout price is 23,900. To get it CPO'd we are looking at another roughly 2500. We found a montego blue 07 328i with premium, steptronic, xenons for $23,444 that is CPO'd and only has 27,600 miles on it. We are also looking at a 2007 530i with premium and sports packages. It has 27,000 miles and they are asking 29,XXX for it.
We are leaning towards the 328i just because of the cheaper payments but who knows. We are going Mon to weigh our options and go from there. Our lease is up in March. Thanks for all the replies guys/gals |
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10-01-2010, 09:46 AM | #22 | |
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Ultimately, I see it nowhere in writing a term length requirement for the BMWFS loan to keep the extended maintenance. |
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