Have you ever considered leasing a used vehicle? Currently BMW allows customers to lease a 2013 or newer vehicle. Financing is based upon the resale price. A BMW must be certified preowned, have 35,000 miles or less on the odometer, and be in like new condition both exterior and interior. BMW will finance a three year 10,000 mile, 12,000 mile or 15,000 mile lease – but if you’re looking for a 15,000 mile a year lease on a used car we’d really like to recommend you consider a purchase.
The lessee receives the remainder of BMWs warranty as well as the maintenance plan. Both can be extended to cover the duration of the lease. We don’t have a way of knowing exactly how extended maintenance plans and warranties would work. Both are after market products sold to customers in the secret world of the finance department. Most are sold in increments of three years or more and used car leases are also three years long. It may or may not be money well spent but we’d certainly recommend it for peace of mind and for budgeting.
A BMW is undeniably a status symbol.
It’s also a very pleasant drive safe car. It’s a car that holds it’s value well and that has always made it popular with leasing. We contacted a local Mercedes dealer and asked if used car leasing was available. The response was, “Yeah, we can do it but it’s more expensive than a new car.” Which made very little sense. A second Mercedes dealership told us they lease cars with 10,000 miles or less on the odometer and only within one model year. They were unsure if that was a Mercedes requirement or a dealership policy. We found that Mercedes Benz will only finance leases within one model year but many other sources will lease an older Mercedes Benz.
If the body style hasn’t changed in a few years and isn’t due to change for a few more your “new car secret” really can be a secret. Only the keenest eye would know that the car that you’re driving is not the current model year. If you’re leasing rather than buying a used BMW it’s entirely possible that you want to keep things like this out of day to day conversations.
We understand, we know sometimes we’re all just looking for a little more status than budget affords. Your secret is safe with us.