[Dreamerbimmer]

40,000 km and issues with the transmission already? Sounds like there’s trouble looming. I would get rid of it.

Fwiw, I’m in the same boat. I’ve had no issues with mine though except for some faint noise in the undercarriage when driving on uneven pavement (bmw tech said he couldn’t hear anything unusual). So I’m leaning towards buying it..

[The Reverend]

Originally Posted by Dreamerbimmer

40,000 km and issues with the transmission already? Sounds like there’s trouble looming. I would get rid of it.

Fwiw, I’m in the same boat. I’ve had no issues with mine though except for some faint noise in the undercarriage when driving on uneven pavement (bmw tech said he couldn’t hear anything unusual). So I’m leaning towards buying it..

Yeah, this is what keeps me up at night. The car is great but for the fuel pump, transmission and transfer case all to be replaced with less than 40,000 kms on is troubling.

But I have been guilty of the "fallacy of sunk costs" as a poster mentioned so I think I'm leaning towards moving on.

Maybe I should just get a motorcycle.

[frazervalley]

My philosophy has been to buy good quality reliable vehicles and pay them off as soon as I can. This reduces the interest payments and thus the overall cost of buying the vehicles. If it's a five year payment plan, I will try to pay it off in three or four years. After that I set aside and save the money I would be contributing to car payments. Because I bought a quality vehicle it lasts longer and I have fewer out of pocket repair costs. I do have the vehicles maintained as per the manufacturers recommendations. I had one vehicle for ten years that I had bought new. It was trouble free and I only replaced it because I wanted a change. I probably should have kept it longer and saved more money.

Instead, I bought another new vehicle, again a good quality, reliable vehicle.
I have now owned it for sixteen years and it easily has another five years or more in it. I paid it off in three years. This means that between these two vehicles and over a twenty six year period of vehicle ownership, I have had car payments for only six or seven years. Think about that, nineteen to twenty years with NO car payments. I have saved a lot of money by not changing vehicles regularly and I have redirected those savings to other priorities such as paying off my mortgage early. In doing that, I saved many thousands of dollars in mortgage interest payments that would otherwise have benefited my bank.
Those savings are in the bank now, but there in my name.

In 2017, I bought myself a well maintained two year old BMW (It had depreciated for two years and I saved money). It is a low mileage weekend car for me, my toy. I paid cash for it. So, I bought the BMW for a good depreciated price and then paid zero for financing, so I saved twice on this car.

I am detailing this in the hopes of inspiring younger men and women to recognize that money is simply a tool and either you control it, or it controls you.
Take a long term approach to your finances and develop a money saving strategy today, to facilitate your own objectives. These plans need twenty to thirty years to work well, don't wait.

There are strong marketing forces at work to seperate you from your money with the latest shiney object or new tech - that will be next year's old tech. There are also many other ways to manage your money better. There are books and online resources that can help you. Most of it is common sense, that sadly is not so common today.

I will end this with a comment my dad would say to me as a child, whenever he saw a sign that advertised savings of 25%. He would laugh and say I choose not to buy it and save 100%. That is four times better savings. RIP dad.

[luckstr]

Originally Posted by The Reverend

I currently own a 2016 435i GC and the "lease" is up this Sept. I did buy it new and I'm curious as to whether I should re-finance the balance and keep the car considering that I have spent the last four years basically paying off the depreciation.

The vehicle also has an extra two years of warranty on it so I'm wondering if I should just hold on to it during that time since it has 39,000 kms (24,233 miles).

At the end of the lease I'll owe about $26,000 CDN ($19,619 USD) so part of me thinks that I wouldn't find a four year old car with low mileage and warranty for that price. Does it make financial sense to keep it for another two years or sell it now?

A minor concern I have that is somewhat offset by having the extra warranty is when I took the vehicle in for normal service recently they found a leak in the transmission. They did the powder test to try to see where it came from but then the recommendation came back from BMW to replace the entire transmission as well as transfer case. The fuel pump was also replaced under warranty during a previous service.

So what would you do? I do love the car but part of me wants to move into something like a Lexus GX460 or Toyota Tacoma to embrace my inner weekend warrior but also have a vehicle that holds it's value better. But if I do that, I've basically pissed away the money I've spent the last 4 years on my current vehicle.

I cannot answer your question, all I can do is give you my experience with my 2017 440i convertible. I leased the car and the residual was $40,000. When the lease was up, I had only 17,000 miles on the car so I decided to buy it and I went through my credit union for financing. When I called BMWFS for the pay-off, they took $4,000 off the $40,000 residual. However, when I called for pay-off 6 weeks before that, the number was still $40,000. Moral of story, wait until you make last payment and then call for pay-off. See if you get a significant reduction from original residual. Note: I did not have to finance through BMWFS to get this $4,000 reduction. Hopefully, this is a little help to you in making decision. Good luck
Luckstr