[casualDIYer]

I've got a question on extended warranties for a lease car and wondered if anyone on the forum had any experience.

Standard warranty is 4 yr/80,000 with max leases being 36/72000 or 48/96000. So, with a standard warranty, and a lease of 36-39 months, car will be covered under warranty. But what about 4 years and 96000? A 4 yr/100000km warranty is needed. But does such an extension actually exist from BMW Canada? I heard it did in the past but no longer.

Anyone have experience with this? Considering a 4/96 lease but don't like the idea of buying an over extended warranty up to 200,000 km.

Would a third party cover the warranty from 80000+ ? Has anyone used a third party warranty?

[bobblehead]

extended warranty is what you will need to buy at about $3,500 + HST. If you don't, then either pay out of your own pocket.

[WhiteCollar]

the way it worked in my case was they called to get me out of my lease earlier than end of term. so i think you'll never have to worry about going over the warranty limit. as far as the extended warranty, i think it covers 6/160, which doesn't make sense for a lease. my trip computer indicates that a service is coming up before the odometer reads 80k, so that will take care of the last service call before the lease is up. which my not happen if my GC arrives soon.

[casualDIYer]

Originally Posted by WhiteCollar

the way it worked in my case was they called to get me out of my lease earlier than end of term. so i think you'll never have to worry about going over the warranty limit. as far as the extended warranty, i think it covers 6/160, which doesn't make sense for a lease. my trip computer indicates that a service is coming up before the odometer reads 80k, so that will take care of the last service call before the lease is up. which my not happen if my GC arrives soon.

6/160 wonderful if you plan to own the car but lease, yeah, it does not make sense.

I am trying to get out of lease earlier than end of term but I am hearing all sorts of varying stories from different dealers. Dealer A: Worth nothing. Dealer B: Well, I can get you out but not at full residual. Dealer C: I can get you out at no cost to you. Unfortunately Dealer C can't get me what i want right now.

I'd better get out soon though. My warranty is going to expire in a few months.

[WhiteCollar]

Originally Posted by menncars

6/160 wonderful if you plan to own the car but lease, yeah, it does not make sense.

I am trying to get out of lease earlier than end of term but I am hearing all sorts of varying stories from different dealers. Dealer A: Worth nothing. Dealer B: Well, I can get you out but not at full residual. Dealer C: I can get you out at no cost to you. Unfortunately Dealer C can't get me what i want right now.

I'd better get out soon though. My warranty is going to expire in a few months.

your leased car is owned by bmw canada, so any bmw dealership you visit can get you out of the lease early. the only thing that they pay is the remaining months left on your contract, which they will include in any negotiation you make with them for a new car.

so if in your example dealers A and B were bmw, then you can tell them they are full of sh**. an audi dealership offered me $24k for the car, when its buyout price was $34k, but that's normal.

my dealership won't keep the car after i return it, it gets shipped back to bmw canada and i guess, from there, it will be sold at auction... i'm kind of curious as to what happens to the car and how much bmw will sell it for. i'm sure it's much less than the residual, in which case i might be interested in buying it then... or maybe it doesn't work that way? in any case, i think that once our lease term is up bmw breaks-even so anything they make on the car after that is pure profit.

[bobblehead]

for lease returned cars, dealers always get a first crack at it, if they want the car. If not, then it goes to auction, at whatever it fetches.

[WhiteCollar]

any way of tracking the car at auction?

[casualDIYer]

Originally Posted by WhiteCollar

your leased car is owned by bmw canada, so any bmw dealership you visit can get you out of the lease early. the only thing that they pay is the remaining months left on your contract, which they will include in any negotiation you make with them for a new car.

so if in your example dealers A and B were bmw, then you can tell them they are full of sh**. an audi dealership offered me $24k for the car, when its buyout price was $34k, but that's normal.

my dealership won't keep the car after i return it, it gets shipped back to bmw canada and i guess, from there, it will be sold at auction... i'm kind of curious as to what happens to the car and how much bmw will sell it for. i'm sure it's much less than the residual, in which case i might be interested in buying it then... or maybe it doesn't work that way? in any case, i think that once our lease term is up bmw breaks-even so anything they make on the car after that is pure profit.

Ahh . . . . you've been to Dealer A? Yes, A's sales pitch was getting into almost fictional proportions. Even those who love AWD wouldn't believe what the guy was saying. I don't think the guy heard a word I said. The deal was getting so aggressive it was getting to the point I couldn't turn it down. The manager stepped in to put the brakes on everything. At first, I was "Only if . . " but later on when I thought about it, I would have had buyer's regret. The car offered really wasn't the car I wanted. I'm glad it didn't go through with it.

While dealer B (my current dealership) did offer to buy me out, he advised against it noting that even with over mileage I'd likely be ahead waiting until Sept-Oct when deals are better.

Most surprising thing so far? BMW hasn't called me or even mailed me. I expected them to start being my buddy some time soon. Maybe it's coming . . .

[WhiteCollar]

Originally Posted by menncars

Ahh . . . . you've been to Dealer A? Yes, A's sales pitch was getting into almost fictional proportions. Even those who love AWD wouldn't believe what the guy was saying. I don't think the guy heard a word I said. The deal was getting so aggressive it was getting to the point I couldn't turn it down. The manager stepped in to put the brakes on everything. At first, I was "Only if . . " but later on when I thought about it, I would have had buyer's regret. The car offered really wasn't the car I wanted. I'm glad it didn't go through with it.

While dealer B (my current dealership) did offer to buy me out, he advised against it noting that even with over mileage I'd likely be ahead waiting until Sept-Oct when deals are better.

Most surprising thing so far? BMW hasn't called me or even mailed me. I expected them to start being my buddy some time soon. Maybe it's coming . . .

how many months left on your deal?

i don't see how september or october will have better deals than today. unless they will still have MY2016 cars on their lots, but if not, or if you don't like the selection, you will be stuck with 2017 which come at a prime price and rate. i doubt you will be able to shave off some good $$ from msrp on 2017s.

[casualDIYer]

Originally Posted by WhiteCollar

how many months left on your deal?

i don't see how september or october will have better deals than today. unless they will still have MY2016 cars on their lots, but if not, or if you don't like the selection, you will be stuck with 2017 which come at a prime price and rate. i doubt you will be able to shave off some good $$ from msrp on 2017s.

They still have 2015s on their lot now. I'm sure there will be 2016s available then but I might as well look at the 2017. The residual will be a bit better that a 2016. Rates will be 2.9 but I'm sure it will be cut as I am a repeat customer.

Dealers are trying to make year end quota. Usually end of year is a bit better. And, there are 11 dealers all within the GTA. That helps too.