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      04-06-2021, 04:07 PM   #1
sushmit1990
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Exclamation Planning to buyout 2018 BMW 340i. Lease ending in July. Next steps?

Hi All,

I have a 2018 BMW 340i (shadow sport edition, mediterranean blue) lease, which is going to end in July. It's currently at 22k miles.
Lease residual is ~$34k.

So far, there have been no issues with the car, and I really like it. I would rather not get into another lease/new car buying process right now. I plan on keeping the car as long as possible.
Last year, I saw many people getting anywhere between $3k-$5k customer rebates by BMWFS during the end of their lease. So far, I have not seen anything while logging into my BMWFS amount and checking the payoff documents.

Questions:
1. Can I extend the payoff process by 2-3 months?

2. Has anyone got any rebates this year? Should I contact BMWFS about it right now?

3. Should I totally bypass the dealer and get financing from BMWFS? Or try local credit union? I am planning to make at-least $15k downpayment towards the car.

4. What's the best approach for an extended warranty? Shop around local BMW dealers?

Thanks!
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      04-06-2021, 04:35 PM   #2
AMG KLR
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For number 4 yes, you can actually buy it from any dealer in the country. I did mine from BMW of Willmington for a 2015 335i and saved a couple thousand compared to what everyone else was asking. Let me know if you find a good finance manager in your hunt I may get one myself
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      04-06-2021, 05:04 PM   #3
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1) Not easily and probably not at all.
2) Wait until you’re within 90 days of lease maturity. Maybe even 60 days.
3) I don’t think you can finance with BMWFS without involving a dealer. Pentagon FCU www.penfed.org is an excellent credit union. Anyone can join by joining (one time) a military support organization (there is a link included in the sign up process).
4) PenFed also sells a very good extended warranty. https://www.penfed.org/auto/extended-warranty
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      04-07-2021, 10:37 PM   #4
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If you are buying the car, why would you want to extend the lease? It sounds like an expensive way to buy a car. When COVID started, Bmw didn’t want their leases back, thus incentives for people to keep them. I don’t know if that’s still the case.
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      04-08-2021, 10:42 AM   #5
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Quote:
Originally Posted by tturedraider View Post
1) Not easily and probably not at all.
2) Wait until youíre within 90 days of lease maturity. Maybe even 60 days.
3) I donít think you can finance with BMWFS without involving a dealer. Pentagon FCU www.penfed.org is an excellent credit union. Anyone can join by joining (one time) a military support organization (there is a link included in the sign up process).
4) PenFed also sells a very good extended warranty. https://www.penfed.org/auto/extended-warranty
Just a note PenFed wouldn't warranty my '17 440i because it wasn't one of the models they support.
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