Welcome to Bimmerfest -- The #1 Online Community for BMW related information! Please enjoy the discussion forums below and share your experiences with the 200,000 current, new and past BMW owners. The forums are broken out by car model and into other special interest sections such as BMW European Delivery and a special forum to voice your questions to the many BMW dealers on the site to assist our members!

Please follow the links below to help get you started!

Go Back   Bimmerfest - BMW Forums > BMW Model Discussions > 5 Series > F10 / F11 (2011 - Current)

F10 / F11 (2011 - Current)
The new chapter in the highly successful story of the BMW 5 Series Sedan (F10) and wagon (F11)

Reply
 
Thread Tools Display Modes
  #126  
Old 11-24-2010, 03:26 PM
richschneid richschneid is offline
Officially Welcomed to the 'Fest
Location: Pittsburgh, Pa.
 
Join Date: Nov 2005
Posts: 1,582
Mein Auto: BMW 550i xDrive
Quote:
Originally Posted by gregb10 View Post
Its funny how a lease or buy question led to this discussion.

Everyone is blaming either the government or finance companies for this crisis. while each might have contributed how about personal responsibility? At the end of the day, the buyer signs the final papers. If one is too stupid to understand what they are getting into who's fault is that? These people didn't have to take on loans or mortgages they couldn't afford. For that reason the truth is government regulation is there to protect us from ourselves. How silly is that? We need to take more responsibility for our actions and not blame others. Just because a lender offered a confusing loan product that the borrower had trouble understanding and failed to take the time to fully comprehend doesn't mean the borrower is without fault. Maybe the borrower isnt educated enough to know what to look for. Who's fault is that? While that part is unclear, it is clear that we (tax payers) are paying the price of other people's ignorance.

At one time in my life I experienced hardship and had to utilize credit to survive. Because of high utilization my interest rates went up and credit lines went down. It became difficult. I didn't blame anyone nor did I attempt to discharge my debt. I changed my life style, rebuilt my business and paid my debt. It wasn't easy but I took responsibility for my actions.

I run a business and it is important for me to project an image of success. If I'm asking a client to invest significant assets with me and I show up to a meeting in a hyundia, it doesn't make the right impression. As shallow and materialistic as it may sound, it happens to be true. The car I drive shouldn't have anything to do with my abilities as a professional but a a first impression is important. I lease a new BMW every 3 years. The tax deduction, business benefit and personal enjoyment I get from driving a new car is worth it to me.

To anyone who wants to criticize me, go ahead, it wont affect my life or decision process.
I totally agree with you that the fault lies with the American people. What has occurred is our fault. But as an American I fully believe that our government is "Of the People, by the People, and for the People." That is to say the government is just us, nothing more nothing less. We created it and we elected the people in it. So to say anything is the fault of the govenment or that it is the fault of the individual is saying the exact same thing. If we, as a group, are too stupid to know when and when not to borrow money that is our fault. Maybe it would be a good idea if people were taught this in school, after all we do teach people how to read and write and do arithmetic. We don't expect them to teach themselves about these, how can we expect them to be able to teach themselves about finance?
__________________
2011
550i xDrive/ImperialBlue/Beige/anthracite/DHP/sport/vent seats/convience/cold weather/driver assistance/prem 2/sport trans/fold down rears/4 zone/ACC/HUD/cameras/night vision/ipod and smart integration.

Last edited by richschneid; 11-24-2010 at 03:27 PM.
Reply With Quote
  #127  
Old 11-24-2010, 03:45 PM
DXK DXK is offline
Officially Welcomed to the 'Fest
Location: Boston
 
Join Date: Jun 2007
Posts: 1,176
Mein Auto: '11 550i
Quote:
Originally Posted by richschneid View Post
I don't think our business schools are responsible for any of our recessions except this one. BTW, BMW does sell chromed wheels for the 550i in it's accessory catalogue for $6000. In addition, last month I saw an S550 MB parked on Central Park South with actual MB chromed wheels too. So maybe if the Harvard Business school knew what they were doing our country's economy would be in as good shape as Germany's is. Maybe we wouldn't have to buy German cars and our auto industry would not have essentially gone bankrupt. Maybe if they understood why MB and BMW sell chromed wheels for six grand they wouldn't have been so responsible for this "The Great Recession" which some people, including me, think is actually a "soft" depression.

Perhaps not all professors at the Harvard business school don't understand economics, it's just the one's who think Milton Friedman had any understanding of economics. At least Alan Greenspan is more like me, he knows he made a mistake and admitted it publically.

I don't have to write a paper to this effect. There will be many economic history books which will document this quite well, thank you.

And maybe if you had any cogent arguments to back up your opinions you wouldn't have to resort to calling people names like "communist" and making fun of their taste in wheels as a last resort. Name calling is the last refuge of small minds, whether or not they have an MBA from Harvard Business School. Unless, of course, you are taught in Harvard Business School that the best way to defend yourself is to call people names when your misbegotten misunderstanding of economics causes the near destruction of the global economy.
Hey Rich, you misunderstood me, I never called you a communist , I said your line of questioning in regards to who is MBA and if one has worked for an MBA resembles what senator from Wisconsin was asking and was meant in jest. The arguments I presented are pretty cogent to me; they are obviously not to you, but that's fine, so let's just leave it at that and enjoy cars. In regards to German economy, this year is the first time ever that it is outperforming ours, but I will not get into the reasons why since you won't agree with me anyway.
__________________
'14 550i M Sport on order for ED June 30, 2014
'11 550i Sport
'08 535i Sport, BMW Welt, Dec. 23, 2007
'06 330i Sport
'06 P Boxster
'02 C32 AMG
'99 328i

Last edited by DXK; 11-24-2010 at 03:46 PM.
Reply With Quote
  #128  
Old 11-24-2010, 04:16 PM
Kamdog's Avatar
Kamdog Kamdog is offline
-- Robert S. Johnson 56FG
Location: New York
 
Join Date: Apr 2007
Posts: 6,015
Mein Auto: 2008 535i
Quote:
Originally Posted by richschneid View Post
I totally agree with you that the fault lies with the American people. What has occurred is our fault. But as an American I fully believe that our government is "Of the People, by the People, and for the People." That is to say the government is just us, nothing more nothing less. We created it and we elected the people in it. So to say anything is the fault of the govenment or that it is the fault of the individual is saying the exact same thing. If we, as a group, are too stupid to know when and when not to borrow money that is our fault. Maybe it would be a good idea if people were taught this in school, after all we do teach people how to read and write and do arithmetic. We don't expect them to teach themselves about these, how can we expect them to be able to teach themselves about finance?
Absolutely true.



But.... IMO, all this talk about how unreliable BMWs are at year 5 or 6 or 7 is nothing but fear talking. They don't self destruct. If you buy a car new, and take very good care of it, it will last. You might have to toss in extra bucks for a BMW, but they are not made of junk.
__________________

535i, Monaco, Cream, Light Poplar, Comfort Seats, PP, Nav, ED.
Reply With Quote
  #129  
Old 11-24-2010, 04:55 PM
richschneid richschneid is offline
Officially Welcomed to the 'Fest
Location: Pittsburgh, Pa.
 
Join Date: Nov 2005
Posts: 1,582
Mein Auto: BMW 550i xDrive
Quote:
Originally Posted by DXK View Post
Hey Rich, you misunderstood me, I never called you a communist , I said your line of questioning in regards to who is MBA and if one has worked for an MBA resembles what senator from Wisconsin was asking and was meant in jest. The arguments I presented are pretty cogent to me; they are obviously not to you, but that's fine, so let's just leave it at that and enjoy cars. In regards to German economy, this year is the first time ever that it is outperforming ours, but I will not get into the reasons why since you won't agree with me anyway.
Okay. But I would like to know why you think the German economy is out performing ours. So are Holland, Sweden, and Denmark. Besides, I didn't hear any actual cogent arguments from you. I only heard analogies to southern Italy. Analogies are not good arguments, because analogies are never totally applicable. I also haven't given you my full economic analysis because that would be far too lengthy. All I will say here is that my analysis begins with the first week of economics 101 in which we learn two basic ideas, supply and demand, and guns or butter. It also includes the idea that economics is fundamentally a biologic phenomena, ie it the behavior of animals, us. The fundamentals of human economic interactions follow the exact same principles as the evolution of multicellular organisms from single cellular life forms.

BTW, although I majored in physics and minored in mathematics in college, I had what is now referred to as a "cluster" in economics, 12 credit hours. This included courses in macroeconomics, microeconomics, all the economic theories, and the economic history the United States. I understood what was going on beginning in 2001 and especially since 2003, to the extent that I sold all my equities in August, 2007 when the Dow was at 13,300 and went long at 5% in FDIC insured CDs. Now I have also been long treasuries since 2008 at 4.5%. That's one reason why I am able to buy my 550i xDrive for cash and paid off my mortgage. BTW, after I graduated from college I was accepted into the PhD program in physics at Harvard with a full scholarship and stipend to teach undergraduate physics and turned it down.

So, if you are interested, send me a private message and we can discuss this without name calling or inaccurate analogies to Italy. It's time for me to stop this and let people get back to the financial aspect of buying cars.
__________________
2011
550i xDrive/ImperialBlue/Beige/anthracite/DHP/sport/vent seats/convience/cold weather/driver assistance/prem 2/sport trans/fold down rears/4 zone/ACC/HUD/cameras/night vision/ipod and smart integration.

Last edited by richschneid; 11-24-2010 at 05:09 PM.
Reply With Quote
  #130  
Old 11-24-2010, 05:06 PM
richschneid richschneid is offline
Officially Welcomed to the 'Fest
Location: Pittsburgh, Pa.
 
Join Date: Nov 2005
Posts: 1,582
Mein Auto: BMW 550i xDrive
Quote:
Originally Posted by Kamdog View Post
Absolutely true.



But.... IMO, all this talk about how unreliable BMWs are at year 5 or 6 or 7 is nothing but fear talking. They don't self destruct. If you buy a car new, and take very good care of it, it will last. You might have to toss in extra bucks for a BMW, but they are not made of junk.
That's exactly the cartoon from Pogo that I think about when I hear all this stuff about the government being the enemy. Danke Schoen.
__________________
2011
550i xDrive/ImperialBlue/Beige/anthracite/DHP/sport/vent seats/convience/cold weather/driver assistance/prem 2/sport trans/fold down rears/4 zone/ACC/HUD/cameras/night vision/ipod and smart integration.

Last edited by richschneid; 11-24-2010 at 05:08 PM.
Reply With Quote
  #131  
Old 11-24-2010, 07:53 PM
gregb10's Avatar
gregb10 gregb10 is offline
Officially Welcomed to the 'Fest
Location: 11542
 
Join Date: Aug 2010
Posts: 124
Mein Auto: F10 535ix/E60 2008 535 XI
Quote:
Originally Posted by richschneid View Post
I totally agree with you that the fault lies with the American people. What has occurred is our fault. But as an American I fully believe that our government is "Of the People, by the People, and for the People." That is to say the government is just us, nothing more nothing less. We created it and we elected the people in it. So to say anything is the fault of the govenment or that it is the fault of the individual is saying the exact same thing. If we, as a group, are too stupid to know when and when not to borrow money that is our fault. Maybe it would be a good idea if people were taught this in school, after all we do teach people how to read and write and do arithmetic. We don't expect them to teach themselves about these, how can we expect them to be able to teach themselves about finance?
Government is tricky business right now. With technology progressing at a blinding rate the world is getting more complex. Maybe there is a segment of society that doesn't get the proper exposure to educate themselves on how to understand complex financial instruments and make a logical choice. Maybe their nature is to trust the salesperson motivated by commission and and rely on his or her explanation of legal terms that are difficult to comprehend. In the old days, one who lived in a small town went to the local bank, had a personal relationship with their lending officer who was a respected individual in the community. Banks worked to help local people buy cars, homes, start businesses, etc. Its its impersonal, you bank might owned by a foreign corporation or you might go through the entire loan process online with little or no personal interaction. Back then if you didnt pay, you would be embarrassed to show your face in the local community and you made sure to live within your means. Today, there is no shame in declaring bankruptcy or trying to discharge your debt or settle for less then you owe.

How does the government teach personal responsibility and values? Doesn't this have to start in the household? Don't we have an obligation to educate our children in an attempt to help them avoid irresponsible decisions? How do we protect those who are not sufficiently educated? I don't feel there is an easy answer. Our government finds it necessary to force credit card companies to explain the paying the minimum payment on a 20% interest rate credit card will take 30 years to pay off.

I feel one way to start is in our schools and home. Education is vital to understanding.
Reply With Quote
  #132  
Old 11-24-2010, 08:31 PM
Stevej2001 Stevej2001 is online now
Officially Welcomed to the 'Fest
Location: California
 
Join Date: Jan 2008
Posts: 455
Mein Auto: '14 328i
wow, talk about off topic... I'm the original poster and my car arrived at the dealer today. I'm going to buy it and pay in 36 months. Enormous payment per month, but only a total finance charge of nine hundred and some dollars.

You folks can keep on arguing if you want, but I've made up my mind. I'll get the keys Friday evening. Thanks for all the insight in spite of the political and philosophical digressions.
__________________
Steve Jacobs

2014 328i, Mineral Gray, Msport, Premium, Technology, Lighting, Driver Assistance.
Retired:
'11 F10 535i
'08 E60 535i
Reply With Quote
  #133  
Old 11-24-2010, 08:35 PM
dalekressin's Avatar
dalekressin dalekressin is offline
Officially Welcomed to the 'Fest
Location: Oshkosh Wisconsin
 
Join Date: Sep 2008
Posts: 6,007
Mein Auto: 2010 M3
Glad Steve made his decision. A great Thanksgiving.
__________________
94 530i sold (That was difficult for me)
01 530i >144,500+ miles SOLD
06 330XI winter's especially fun drive (SOLD)
10 M3 Sedan (sweet)
13 Nissan GT-R Black Edition
14 Porsche Cayenne Platinum Diesel

BMWCCA 4215
Reply With Quote
  #134  
Old 11-25-2010, 04:06 AM
richschneid richschneid is offline
Officially Welcomed to the 'Fest
Location: Pittsburgh, Pa.
 
Join Date: Nov 2005
Posts: 1,582
Mein Auto: BMW 550i xDrive
Quote:
Originally Posted by Stevej2001 View Post
wow, talk about off topic... I'm the original poster and my car arrived at the dealer today. I'm going to buy it and pay in 36 months. Enormous payment per month, but only a total finance charge of nine hundred and some dollars.

You folks can keep on arguing if you want, but I've made up my mind. I'll get the keys Friday evening. Thanks for all the insight in spite of the political and philosophical digressions.
I guess you learned a lot from this thread because you obviously made the correct decision. Take good care of your new car and you will your 8 years of satisfied ownership. Congratulations!
__________________
2011
550i xDrive/ImperialBlue/Beige/anthracite/DHP/sport/vent seats/convience/cold weather/driver assistance/prem 2/sport trans/fold down rears/4 zone/ACC/HUD/cameras/night vision/ipod and smart integration.
Reply With Quote
  #135  
Old 11-25-2010, 09:57 AM
Newmanium Newmanium is offline
Officially Welcomed to the 'Fest
Location: Portland, OR
 
Join Date: May 2007
Posts: 865
Mein Auto: Zipcars
Quote:
Originally Posted by richschneid View Post
I guess you learned a lot from this thread because you obviously made the correct decision. Take good care of your new car and you will your 8 years of satisfied ownership. Congratulations!
Hopefully he will end up with your repair history than the people in this E39 thread:

http://bimmerfest.com/forums/showthr...=481407&page=2

A number have $4-5k of repairs in a year, with many more on horizon. Another way to look at a lease, if somebody is unsure about a car, is as a trial period. If happy with the car, buy it out at the end of the lease (or before). Should it be a nightmare or if tastes change, just drop it off at the end. Think of the extra interest charges as a sort of "trip insurance" charge.
__________________
Past: 2011 X5 35d .... 2007 530i ..... 2002 530i ..... 1999 Honda Civic ..... 1990 Honda Accord ..... 2008 TSX
Reply With Quote
  #136  
Old 11-25-2010, 10:15 AM
Financeman Financeman is offline
Officially Welcomed to the 'Fest
Location: Wichita, Ks
 
Join Date: Jan 2009
Posts: 254
Mein Auto: 2003 530IA
Quote:
Originally Posted by Kamdog View Post
Absolutely true.



But.... IMO, all this talk about how unreliable BMWs are at year 5 or 6 or 7 is nothing but fear talking. They don't self destruct. If you buy a car new, and take very good care of it, it will last. You might have to toss in extra bucks for a BMW, but they are not made of junk.
I agree, but not without qualification. You might want to check out the E39 and E60 boards...when over five years old, these cars can have alot of expensive and problematic issues. That has been my personal experience with a well care for 03 530i with 73,000 miles. Not saying driving old cars is bad, but repairs outside of normal maintenance exceeded $2,000 last year. I did not include the cost of brakes, tires, spark plugs, or a fuel filter in my figure. Perhaps those repairs were one time occurence (failed sensors, rear ball joints, bad CCV)...and even with these repairs driving the old car is cheaper than a new one...but not by as much as I hoped.
Reply With Quote
  #137  
Old 11-25-2010, 10:23 AM
Stevej2001 Stevej2001 is online now
Officially Welcomed to the 'Fest
Location: California
 
Join Date: Jan 2008
Posts: 455
Mein Auto: '14 328i
This the thread that will not die!

As I said, I'm going to buy... My thought is-- if the car does well, I'll buy an extended warranty as it nears the end of the factory warranty.

If it is unreliable, I'll sell it in a few years. Yes, I'll loose a ton of money, but I've also saved a ton by buying at 0.9% vs leasing at effectively 4-5%. Hopefully I'll not do too badly.

Then I'll probably go for the Hyundai Genesis I was considering.... (donning anti-flame gear)
__________________
Steve Jacobs

2014 328i, Mineral Gray, Msport, Premium, Technology, Lighting, Driver Assistance.
Retired:
'11 F10 535i
'08 E60 535i
Reply With Quote
  #138  
Old 11-25-2010, 10:31 AM
richschneid richschneid is offline
Officially Welcomed to the 'Fest
Location: Pittsburgh, Pa.
 
Join Date: Nov 2005
Posts: 1,582
Mein Auto: BMW 550i xDrive
Quote:
Originally Posted by Financeman View Post
I agree, but not without qualification. You might want to check out the E39 and E60 boards...when over five years old, these cars can have alot of expensive and problematic issues. That has been my personal experience with a well care for 03 530i with 73,000 miles. Not saying driving old cars is bad, but repairs outside of normal maintenance exceeded $2,000 last year. I did not include the cost of brakes, tires, spark plugs, or a fuel filter in my figure. Perhaps those repairs were one time occurence (failed sensors, rear ball joints, bad CCV)...and even with these repairs driving the old car is cheaper than a new one...but not by as much as I hoped.
Your 530i repair costs were approx. $2000 last year. That car is 8 years old and your repair cost was only $2000 in year 8. What were the repair costs in years 6 and 7? If we have those numbers then we can average the yearly cost over three years. Since Steve wants to own the car for 8 years also, your total for years 6,7, and 8 would give a better idea of what his repair costs would be in 8 years of ownership. Year 5 would be less because BMW will usually, but not always, pay repair costs as a courtesy to the original owner for a year or so after the warranty ends.
__________________
2011
550i xDrive/ImperialBlue/Beige/anthracite/DHP/sport/vent seats/convience/cold weather/driver assistance/prem 2/sport trans/fold down rears/4 zone/ACC/HUD/cameras/night vision/ipod and smart integration.

Last edited by richschneid; 11-25-2010 at 10:33 AM.
Reply With Quote
  #139  
Old 11-25-2010, 10:51 AM
DXK DXK is offline
Officially Welcomed to the 'Fest
Location: Boston
 
Join Date: Jun 2007
Posts: 1,176
Mein Auto: '11 550i
To Steve Jacobs:
if you have decided to buy, do yourself a favor and look into 36 months Owner's choice program if you have elite credit.
You will still get 0.9 %, will still own the car, but your monthly payments will be less than lease. At the end of 36 months, if you want to keep the car, you will finance the ballon payment, which will be less than lease residual, if you don't, you sell it. Go to the dealer and play with the numbers to see if you like it. Make sure you decline dealer's gap insurance when calculating the payment since you can get it at your insurance company for next to nothing. Let us know what numbers the dealer came up with.
__________________
'14 550i M Sport on order for ED June 30, 2014
'11 550i Sport
'08 535i Sport, BMW Welt, Dec. 23, 2007
'06 330i Sport
'06 P Boxster
'02 C32 AMG
'99 328i

Last edited by DXK; 11-25-2010 at 10:52 AM.
Reply With Quote
  #140  
Old 11-25-2010, 11:06 AM
Stevej2001 Stevej2001 is online now
Officially Welcomed to the 'Fest
Location: California
 
Join Date: Jan 2008
Posts: 455
Mein Auto: '14 328i
I think my credit is fine. However, I'm mystified by the owner's choice program. Here's how I see it: it's much like a lease except that you take the risk if the car has depreciated more than predicted. With a lease, the finance company takes the risk.

Secondly, while it gets me a much lower payment, at the end of the 3 years I probably won't be able to 0.9% financing for the balloon.

I do admit that I'm only buying because of the low interest rate. With owner's choice, it seems I don't get as much benefit from the lower rate.

It sounds, from your post, like a lower 'residual' (balloon pmt) is had with owner's choice. That I wasn't aware of.

My goal is not to have a lower payment but to save the most money overall (I could pay cash for this, but it'd be a really big stretch of my finances). I'd think financing is the best deal for me. Am I misunderstanding?

Quote:
Originally Posted by DXK View Post
To Steve Jacobs:
if you have decided to buy, do yourself a favor and look into 36 months Owner's choice program if you have elite credit.
You will still get 0.9 %, will still own the car, but your monthly payments will be less than lease. At the end of 36 months, if you want to keep the car, you will finance the ballon payment, which will be less than lease residual, if you don't, you sell it. Go to the dealer and play with the numbers to see if you like it. Make sure you decline dealer's gap insurance when calculating the payment since you can get it at your insurance company for next to nothing. Let us know what numbers the dealer came up with.
__________________
Steve Jacobs

2014 328i, Mineral Gray, Msport, Premium, Technology, Lighting, Driver Assistance.
Retired:
'11 F10 535i
'08 E60 535i
Reply With Quote
  #141  
Old 11-25-2010, 11:24 AM
DXK DXK is offline
Officially Welcomed to the 'Fest
Location: Boston
 
Join Date: Jun 2007
Posts: 1,176
Mein Auto: '11 550i
oh, I thought you were concerned about huge monthly payments.
Anyway, I am not indorsing any program, I leave it up to an individual, but here are general benefits / issues. So, 0.9% is true for both purchase and OC. Next, your last payment (balloon) is lower than the residual you would've had were you to lease it, by about 10-15% (you can get exact numbers from the dealer for your case, but I have spreadsheet that calculates it. So, if you're not happy with the car, you can sell it with lower break even point.
If you want to keep it, you can own it for less than you would have paid buying out the lease, although as you have noticed, the interest rate will be different, and the market value is unknown and is now risk to you, not BMW. On the other hand, you will be saving money each month part of which could go towards the purchase. Needless to say, it gets more complicated if you wish that to be, like present value of money and risk of future inflation, which should be higher than now, so $30,000 now is more than $30,000 in 3 years. If you had the exact numbers for both programs, we'd be able to assess total cost with some degree of accuracy.
Again, not recommending any program, but get the numbers and see for yourself.
__________________
'14 550i M Sport on order for ED June 30, 2014
'11 550i Sport
'08 535i Sport, BMW Welt, Dec. 23, 2007
'06 330i Sport
'06 P Boxster
'02 C32 AMG
'99 328i
Reply With Quote
  #142  
Old 11-25-2010, 11:47 AM
Stevej2001 Stevej2001 is online now
Officially Welcomed to the 'Fest
Location: California
 
Join Date: Jan 2008
Posts: 455
Mein Auto: '14 328i
Well, it certainly is complicated, isn't it.

At least a purchase is straightforward.
__________________
Steve Jacobs

2014 328i, Mineral Gray, Msport, Premium, Technology, Lighting, Driver Assistance.
Retired:
'11 F10 535i
'08 E60 535i
Reply With Quote
  #143  
Old 11-25-2010, 11:55 AM
Newmanium Newmanium is offline
Officially Welcomed to the 'Fest
Location: Portland, OR
 
Join Date: May 2007
Posts: 865
Mein Auto: Zipcars
Quote:
Originally Posted by richschneid View Post
Your 530i repair costs were approx. $2000 last year. That car is 8 years old and your repair cost was only $2000 in year 8. What were the repair costs in years 6 and 7? If we have those numbers then we can average the yearly cost over three years. Since Steve wants to own the car for 8 years also, your total for years 6,7, and 8 would give a better idea of what his repair costs would be in 8 years of ownership. Year 5 would be less because BMW will usually, but not always, pay repair costs as a courtesy to the original owner for a year or so after the warranty ends.
You keep repeating this 5th year warranty extension thing - but I've never heard any reports of this apart from you. Unless there are more widespread reports, I don't think anybody should mentally count on this - and I would be really surprised if the dealer did this for a major repair.

You obviously have a long history of buying spendy cars with your dealer, you put little mileage on the car, and have a good relationship (chrome wheels, referring people, etc.). For them to eat a $500 repair is nothing compared to the profit you've generated. Be careful about setting up improper expectations for the next guy who isn't treated so generously.

And just take a look through the E39 board... lots of things go wrong. You may be lucky, you may not.
__________________
Past: 2011 X5 35d .... 2007 530i ..... 2002 530i ..... 1999 Honda Civic ..... 1990 Honda Accord ..... 2008 TSX
Reply With Quote
  #144  
Old 11-25-2010, 11:59 AM
DXK DXK is offline
Officially Welcomed to the 'Fest
Location: Boston
 
Join Date: Jun 2007
Posts: 1,176
Mein Auto: '11 550i
Well, yes and no. But it is subjective and you need to go with whatever you feel comfortable with.
If you are set to keep the car for many years then go with financing and forget about it. Nobody can predict everything into the future anyway, all our numbers are based on estimates whether statistics (will the car break and how much will it cost to fix) or economics (what the market value will be in x number of years and what the interest rate will be)
__________________
'14 550i M Sport on order for ED June 30, 2014
'11 550i Sport
'08 535i Sport, BMW Welt, Dec. 23, 2007
'06 330i Sport
'06 P Boxster
'02 C32 AMG
'99 328i
Reply With Quote
  #145  
Old 11-26-2010, 04:27 AM
richschneid richschneid is offline
Officially Welcomed to the 'Fest
Location: Pittsburgh, Pa.
 
Join Date: Nov 2005
Posts: 1,582
Mein Auto: BMW 550i xDrive
Quote:
Originally Posted by Newmanium View Post
You keep repeating this 5th year warranty extension thing - but I've never heard any reports of this apart from you. Unless there are more widespread reports, I don't think anybody should mentally count on this - and I would be really surprised if the dealer did this for a major repair.

You obviously have a long history of buying spendy cars with your dealer, you put little mileage on the car, and have a good relationship (chrome wheels, referring people, etc.). For them to eat a $500 repair is nothing compared to the profit you've generated. Be careful about setting up improper expectations for the next guy who isn't treated so generously.

And just take a look through the E39 board... lots of things go wrong. You may be lucky, you may not.
You are correct that part of my situation is because of my good relationship with my dealership. But, I am telling you what I was told was BMW policy by the service manager and the dealership owner. It is up to the dealer as you describe. I was told last week that the BMW policy has now changed and has become more restrictive due to the economic situation. However, I do think it makes sense that before you decide what to do that a person discuss this issue with your dealer. BMW still does have a policy in place that does decrease the cost of repairs to original owners during the fifth year. I see no reason not to discuss this with your dealer before you buy.

Of course, the E39 board also has a skewed population because those who have had to spend more money may have a greater tendency to post about it. Have you noticed that when I asked Financeman to post what his costs on his E39 has been during years 6,7, and 8 he has not reponded. Yesterday was Thanksgiving so maybe he'll post it today. I am looking directly at the freqeuency of repair data for the '04 through '08 5 series 6 cylinder models in the 2011 Consumer's Reports Buying Guide as I write this. There is no data on the 8 cylinder. Almost all areas are listed as average, better than average, or much better than average. The only consistenty poor repair record is listed as the "Audio System". The electrical problem were worse for the '04 through '06 as well, but otherwise it looks pretty good. I suggest you take a look at it.

BMWs are not the least prone to repairs, but they are pretty good. I'm really curious about Financeman's actual number for years 6-8 for repair costs, not just maintainence.
__________________
2011
550i xDrive/ImperialBlue/Beige/anthracite/DHP/sport/vent seats/convience/cold weather/driver assistance/prem 2/sport trans/fold down rears/4 zone/ACC/HUD/cameras/night vision/ipod and smart integration.

Last edited by richschneid; 11-26-2010 at 06:28 AM.
Reply With Quote
  #146  
Old 11-26-2010, 10:41 AM
Stevej2001 Stevej2001 is online now
Officially Welcomed to the 'Fest
Location: California
 
Join Date: Jan 2008
Posts: 455
Mein Auto: '14 328i
I'm the OP and today is the day I pick up my new F10.

Concerned reliability, clearly BMW is not stellar.

That said, the reason I'm not buying my current '08 535i is the reliabilty issue, and primarily about the engine. I've not had a catastropic failure (HFPF, etc) but several problems. In fact, it's starting up rough again and the check engine light is on again. Probably a bad injector again.

On the other hand, the new 535's engine has been out for six months or so and this board isn't hearing about problems. I've been watching since the car came out. I believe that by this time the N54's problems were being noted if not yet seen as a trend.

Of course I've had some electronic glitches as well, and the F10 I've ordered has more to go wrong.

So I'm rolling the dice and buying rather than leasing. Wish me and my new car good luck.
__________________
Steve Jacobs

2014 328i, Mineral Gray, Msport, Premium, Technology, Lighting, Driver Assistance.
Retired:
'11 F10 535i
'08 E60 535i
Reply With Quote
  #147  
Old 11-26-2010, 11:45 AM
RangerWalker RangerWalker is offline
Registered User
Location: New Jersey
 
Join Date: Feb 2008
Posts: 95
Mein Auto: 2014 BMW 535xi
Steve - Good luck - look forward to hearing about your future ownership experience. I too am considering the F10. My 2008 E60 has been a pleasure to drive, but also has had too many issues for such a young car - HPFP, vanos solenoids, LPFP sensor - all replaced in less than 2 1/2 years under warranty, along with the software upgrades. Not a car I would want to own long-term. The F10 is a beautiful car and I will give it careful consideration in the near future.
__________________
2014 535xi - Black Sapphire, Cinnamon Brown

2011 535xi - Black Sapphire, Venetian Beige

2008 535xi - Monaco Blue, Natural Brown Leather
Reply With Quote
  #148  
Old 11-26-2010, 12:08 PM
Stevej2001 Stevej2001 is online now
Officially Welcomed to the 'Fest
Location: California
 
Join Date: Jan 2008
Posts: 455
Mein Auto: '14 328i
how long after you got your car did it take for problems to surface?

Mine were relatively minor and took at least a year.
__________________
Steve Jacobs

2014 328i, Mineral Gray, Msport, Premium, Technology, Lighting, Driver Assistance.
Retired:
'11 F10 535i
'08 E60 535i
Reply With Quote
  #149  
Old 11-26-2010, 01:57 PM
RangerWalker RangerWalker is offline
Registered User
Location: New Jersey
 
Join Date: Feb 2008
Posts: 95
Mein Auto: 2014 BMW 535xi
The "engine malfunction, reduced power" mode hit about a year and 3 months or so after I got the car (around 20,000 miles). Now at about 42,000. After the latest round of fixes, it is running well again, but that has been the ongoing process. Despite the problems, I have enjoyed the E60 and will consider the F10.
__________________
2014 535xi - Black Sapphire, Cinnamon Brown

2011 535xi - Black Sapphire, Venetian Beige

2008 535xi - Monaco Blue, Natural Brown Leather
Reply With Quote
  #150  
Old 11-26-2010, 02:14 PM
Stevej2001 Stevej2001 is online now
Officially Welcomed to the 'Fest
Location: California
 
Join Date: Jan 2008
Posts: 455
Mein Auto: '14 328i
I only saw the engine malfunction, reduced power once, and after stoping and re-starting the car, the engine ran fine. Weird.
__________________
Steve Jacobs

2014 328i, Mineral Gray, Msport, Premium, Technology, Lighting, Driver Assistance.
Retired:
'11 F10 535i
'08 E60 535i
Reply With Quote
Reply

Bookmarks


Forum Navigation
Go Back   Bimmerfest - BMW Forums > BMW Model Discussions > 5 Series > F10 / F11 (2011 - Current)
Today's Posts Search
Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is On



Forum Jump


All times are GMT -7. The time now is 07:09 PM.


Powered by vBulletin® Version 3.8.7
Copyright ©2000 - 2014, vBulletin Solutions, Inc.
© 2001-2011 performanceIX, Inc. All Rights Reserved .: guidelines .:. privacy .:. terms