Hi,

I have a 2008 MC (51k) which is nearing the end of it's lease. I LOVE my car and thinking of buying it when the lease is up but have a couple of concerns

1) charge for excessive wear & tear. I have a chip in the windshild that was repaired but there's a small crack, the two rims are scratched, door dings (hate with a passion people that think nothing of hitting another car with their door ), a few paint chips on the hood, and the bumper is slightly fractured (my car seems like a magnet for inconsiderate drivers)
2) the cost of maintaince after warranty ends

If I'm going to get charged a lot for wear & tear then I'll probably buy the car out because the residual is lower ($16k) than what the same make/model is selling for at used dealerships ($18k). But then I don't want to be paying a small fortune if anything breaks.

So a few of questions
1) How many people have bought their car after the lease was up?
2) How much would the damages listed above reduce the value?
3) Do people experience a lot of issues after their warranty ended?

 

You need to read through the lease return document. It details what condition the car is to be returned in. A ding the size of a dime per panel is acceptable. Etc, etc

I have returned car with dents, dings, curbed wheels, broken side view mirrors. Your best bet it to have the inspector come out (if that is what they do in your state) and inspect the car.

DO NOT get the car repaired before hand. Its always cheaper to turn it in and pay the discounted price from the manufacturer for repairs.

I had a friend with a C300 Benz. He parked the car by his house under a tree and there were dozens of small dings from where acorns had fallen off the tree on to the hood. MB charged him $200 for the repair when he turned it in.

My opinion here. I would turn the car in and get another if you love it so much. These cars are VERY expensive to repair. better off with a new one and they look much better now with the interior/exterior refresh.

 

Food for thought - many manufacturers do not want the car. In many cases they will negotiate your buy price - even though the residual amount is fixed ahead of time. Worth calling BMW financial (mini financial) to inquire if they are willing to make you a deal on buying it out.

If you buy it out, the excessive wear goes away, after all, you're not turning it in, so why would Mini/BMW care?!

If you love it, and want to keep it, buy an extended warranty before the four years run up (seems like you're at about year 3) and buy the car. You know it, and no one else messed with it. If you really want a new ride, lease another. They're small. :D

 

More than likely your mini dealer will do the inspection. I would take it in and have it inspected to see if the condition is acceptable. More than likely it will be.

After that it simply becomes a numbers question. Can you buy a comparable Mini for less than your residual value? Or can you buy the car at the residual value and sell it privately for more money privately to help fund the new car purchase?

 

I would return it and get a nice used S or a new MC. Just make sure the S does not have the cold start chatter.