[Technocrat]

Congrats on your purchase, I have a few questions

Originally Posted by Soumyajit9

Let me quickly straighten your doubts !


I recently (2 weeks) bought a Feb 2017' BMW X1 xDrive 28i - 4400 Miles on ODO.

Bought or leased?

About the car:
- Certified Pre-Owned. Car is a Loaner Car of the Dealership.

Is this a CPO lease? Did you make any down payment?How much was the Tire & other packages?

- Look for Certified Pre-Owned - Through Dealership Only.
- Look for cars which are still under warranty.

Good suggestions, I agree

- Go for Lease, if you just want to enjoy the car only, and there are no plans of modifications or track events.

Dont agree with this, but thats fine

Q) Why X1 ?
A) Because Q3 is Boring, GLA is Tiny. RDX and C5 were so so.

I am curious to know what did you find better in an X1 over an RDX other than brand? The RDX has more features, more power, cheaper to maintain & is more spacious.

[studentonwheels]

Originally Posted by Koenigsegg220

Any insights on lease vs CPO route ?

In my opinion: CPO, no question. Here's my jargon on why a CPO makes sense:
1. You may not get the latest tech at the same monthly payments as a lease, but keep in mind that you actually own a car that you finance and are not limited by the number of miles you drive in a year.
2. You also build equity on a car that you finance and you have an asset in hand at the end of the finance term. You either return your leased vehicle or buy it out at the end of the lease.
3. Cars depreciate 20% the moment you drive them off the lot. Getting a CPO usually means that you have more car in hand than your loan amount at the end of a year. I bought a 2015 Nissan Altima for $16K on a $12K loan. A year later and I have $8K to pay off but my car's worth ~$13K according to KBB (which is awesome considering it's a Nissan). CPO's are great value.
4. You pay less insurance on a CPO than a lease. Well at least if you don't have much driving history in the US. Would appreciate if someone conformed this point, as I'm 80% certain this is a fact.
5. Its easier to get out of a finance than a lease should financial difficulties arise. You are bound to see out the terms in your lease, however you can sell your car on a lien title(not sure of the exact details of how).

Why you might want to lease:
1. You care two hoots about equity and ownership and just want to drive a nice car with the latest tech.
2. You don't want to pay as much sales tax.
3. You don't drive all that much
4. You want hassle free commuting. Most CPO's come only with powertrain warranties(Barring Honda and Chevy, to the best of my knowledge) or a years comprehensive at best. Toyota guarantees 2 years of free service even on new leases, so if it's worth considering for a lease. This doesn't apply to CPO's.
5. Peace of mind. With a CPO, there is still a doubt, no matter how small, that the car you have might give you trouble down the road. And if it does, you have an expensive, cash guzzling liability in your garage. If you don't like the car you leased, bear with it till the lease ends and ditch it, or just find someone to take over your lease if you really want to get out of it fast.

[amitoj]

Originally Posted by dr.abhijeet

The best type of car for ferrying kids is a minivan.

Absolutely. The Value For Money quotient of a minivan is unparalleled.
If space is the reason to prefer a crossover over a sedan, then one might as well go for a minivan. Majority of the crossovers are never going to go off the tarmac or tow anything anyway. Not to mention the useless 3rd row in them.

[Soumyajit9]

Originally Posted by Technocrat

Congrats on your purchase, I have a few questions
Bought or leased?

Thanks ! It is Leased.

Is this a CPO lease? Did you make any down payment?How much was the Tire & other packages?

Yes, CPO Leased.
Down payment was $3000
Below are the packages that the car came with. Almost everything, except M Package.

- Go for Lease, if you just want to enjoy the car only, and there are no plans of modifications or track events.
Dont agree with this, but thats fine

I think you have to agree, unless you are willing to remove all modifications before returning the car at the end of lease period.
If you are returning the car, no point wasting money for modifications. Atleast not on a BMW
Unless you are buying back the car at the end of the lease, and can keep all the modifications.

I am curious to know what did you find better in an X1 over an RDX other than brand? The RDX has more features, more power, cheaper to maintain & is more spacious.

To be honest, I ignored RDX because I didn't like the design. The front flat chrome border and the overall body shape didn't excite me, adding to my unfamiliarity with the brand. The next contender was Mazda CX5. But just for the brand name, went to X1 over CX5.

[Technocrat]

Originally Posted by Soumyajit9

Yes, CPO Leased.
Down payment was $3000
Below are the packages that the car came with. Almost everything, except M Package.

So overall you are paying close to 19k.

I think you have to agree, unless you are willing to remove all modifications before returning the car at the end of lease period.

I still don't, also no connection between modifications or track use & lease. Infact I know people who do all stunts with a lease but not with a car that they buy as they don't have to live with the issues of mistreatment once they return the leased car.

To be honest, I ignored RDX because I didn't like the design. The front flat chrome border and the overall body shape didn't excite me, adding to my unfamiliarity with the brand. The next contender was Mazda CX5. But just for the brand name, went to X1 over CX5.

Ok so you didn't find out any details of those cars other than looks, I thought you compared feature & feature & then came to a conclusion that these two are so so.

That's fine as that's why brands exist & as long as you are happy with your lease its all that matters

[Soumyajit9]

Originally Posted by Technocrat

So overall you are paying close to 19k.
I still don't, also no connection between modifications or track use & lease. Infact I know people who do all stunts with a lease but not with a car that they buy as they don't have to live with the issues of mistreatment once they return the leased car.

On paper it says 17 and some change. I got EMI waive offs.

When you return the car after the end of lease, there will be deductibles if there are damages, isn't it ? Atleast BMW said me that a dent of a golf size ball is acceptable, anything beyond will be penalized. Ofcourse I have insurance for major damages, but still, you don't want the dealership (in my case dealership cum manufacturer cum lessor) to make any sort of penalization.

Coming to modifications, yes, you can spend $s to add parts and stuff, but at the end of lease, you have to take them off and sell as seconds or scrap unless you keep the car, or lease another same car. That is why I think it makes no sense to spend money on a leased car.

Ok so you didn't find out any details of those cars other than looks, I thought you compared feature & feature & then came to a conclusion that these two are so so.
That's fine as that's why brands exist & as long as you are happy with your lease its all that matters

Yeah, I ticked it off my list of wanted cars just purely based on looks.
I did not test drive or check any features.

I bought the Beat (in India) based on looks only, although Figo was ruling the charts at that time

After a test drive, I felt that the CX5 was a very good car. The behaviour of the car was excellent. Feature loaded. Cheaper.
But the reason why I bought the X1 over it was again purely because of brand.
I can buy an Apartment or a BMW in India, not both (with my financial status).
And when I return to India, I will buy an apartment.
So let me enjoy the BMW as long as I am here in US

[benbsb29]

Originally Posted by Soumyajit9

But the reason why I bought the X1 over it was again purely because of brand.
I can buy an Apartment or a BMW in India, not both (with my financial status).
And when I return to India, I will buy an apartment.
So let me enjoy the BMW as long as I am here in US

That sums it up perfectly. Do what you like, as long as it makes you happy. Life is for living.

Enjoy the BMW experience.

[Koenigsegg220]

Thank you all for the replies and for chipping in. Really appreciate that.

I expanded my horizon to Jaguar now (Actually i was forced to expand after i saw a deal on CPO Jag XF 3.5t RWD V6.)

The car's original warranty started on 03/31/2016 and has been driven 23k miles ever since, a bit steep for the duration actually. The listed price is 35k and the carfax report says that it is owned by "Fleet/Lease Company".

I understand the Fleet/Lease also means that is either owned or leases by a corporate fleet, but the "company" part is ambiguous. Is it a rental car ? And is that why it is not very expensive ?

I liked the car, its in my price range, the CPO warranty is for 5 more years. The car has good options already. But the rental agency part is kind of disppointing.

Originally Posted by VPSuchin

IMO Ideally the best decision from a financial stand point is buying a CPO vehicle with decent depreciation rather than lease. ....BMW usually has really good lease deals.

I don't have experience with repairs on the newer 3 series but expect anything to be more expensive .... And yes, CPO warranty is a toned down version of manufacturer 4 year warranty.....
There is no escaping that, just like your friends are biased against SUVs because in their opinion only women drive them

Buy whatever car or SUV you want/need. Don't buy into stereotypes. You can't go wrong with either 328i or the C300.

The reason i considered a lease is because, in the off-chance that i end up with lemon through CPO and have to bear the maintenance costs, considering the repairs on the German Brands are expensive.

Yes, i did take a look at C300 and personally, i liked the handling of BMW better and maintaining a Merc is damn expensive. My cousin's neighbor commented that maintaining his current Porsche 911 is cheaper than his previous E63.

Originally Posted by Soumyajit9

Let me quickly straighten your doubts !
I recently (2 weeks) bought a Feb 2017' BMW X1 xDrive 28i - 4400 Miles on ODO.

About the car:
- Certified Pre-Owned. Car is a Loaner Car of the Dealership.
- Comes with all the bells and whistles (packages), except the M-Sport.
- 3 Year Lease with BMW Financial Services.
- 10,000 Miles annual mileage limit (30,000 in 3 years).
- Annual Oil Change (incl Labour) covered under warranty. I pay only for wear and tear and tightening up services.
- 4 Year BMW Warranty Covered.
- Took additional Tire Package, that covers Unlimited Free Tire and Alloys (if needed) replacement. The car has Pirelli RFT. So I take it to any nearby dealership and tire is changed FOC.

All these costs me 439$ per month. Insurance extra.
X1 as an entry level SUV costs this much. If you buy a 3 series or a 2 series, that would be way cheaper per month.

Overall, instead of paying $45,000, I end up paying just about $16,000. However at the end of 3 years, I own nothing.

So my general car buying advice to you:

- Look for Certified Pre-Owned - Through Dealership Only.
- Look for cars which are still under warranty.
- Go for Lease, if you just want to enjoy the car only, and there are no plans of modifications or track events.
- If your company has tie up with Perks at Work, you can get some good discounts.
- Search for the model / variant on True Car to get an estimate.
- If you do not have a great Credit History (either due to not owning many cards; or less time in US, like me; or didn't pay your bills on time), then do not buy a car on Loan. Your interest rate will kill you. Go for a Lease then.
- I was refused a Lease at a Mazda dealership due to my non-immigrant status.
- BMW Financial Services is a great organization. They have some corporate lease plans which is pretty good. My lease application was Approved in 20 mins. I submitted my Company's US Deputation Letter, Passport, Visa, i94.

Good Luck

Quick Edit:

Congratulations on your purchase. X1 is a great car. I do not worry about M sport, the steering is so not BMW on that.
Without the tire package, does the lease program not cover the tires replacement ? I always thought tire replacement is included on lease. 16000 is a good enough deal, my friend is paying 14000 for a 3 series.

-Yes, my options are limited to CPO or lease only. I am not even looking at carmax actually.
-Yes, definitely warranty only. (<20k miles and <1.5 years)
-I have a good credit history and have a pre-approved auto loan (1.9%) from DCU for a 5 series equivalent. But I am limiting myself to 35k at the max.
-That is great. BMW Financial Services now has a promotion for CPO cars, 1% interest rate for 72 months.

Originally Posted by amitoj

If there is one advice I can give you, it is this:
DO NOT FALL FOR STEREOTYPED SUGGESTIONS.
Following are some of them that you'll hear:
Rednecks drive F150s or a Dodge (recent incident in VA might support that though )
Vaping hippies drive GTIs
Desis eager to show class drive BMWs
Penny pinching desis drive Honda/Toyota
Last but not the least, women drive SUVs or Jeeps

You are in the land of automobile nirvana. Don't let others' myopic views come in the way of fulfilling your desires.

Thank you for a great advice. Yes, we are indeed in automobile nirvana and your comment made me realize that.
I did not know about the GTIs part.
I am always a fan of SUVs. I will restart considering SUVs now. Especially where i live, half of the cars on the roads are trucks. Its kind of when I am sitting so low on sedans here in Dallas actually.

Originally Posted by benbsb29

This trend is seen in other developed countries too. The reason i see for this is that most families in these countries have atleast 2-3 kids within similar age brackets. This would mean they need to be within a child harness such as baby seat, child seat etc. Try strapping a kid into one of these while using a sedan, and then try doing the same on a CUV/SUV/Minivan. The reason for their popularity becomes obvious straightaway.


Most homes also have more than one car, so the smaller car usually gets used if the above needs don't apply. Bigger cars also portray the sense of safety owing to its size, and better visibility too. There is also the added need to carry sporting equipment when doing the soccer mom runs, as well as the camping gear etc when going away for a weekend. Clearly the sedans lose out straight away.

I do not know a single desi family who has two kids and does not own a minivan.

Originally Posted by studentonwheels

In my opinion: CPO, no question. Here's my jargon on why a CPO makes sense:
1. You may not get the latest tech at the same monthly payments as a lease, but keep in mind that you actually own a car that you finance and are not limited by the number of miles you drive in a year.
2. You also build equity on a car that you finance and you have an asset in hand at the end of the finance term. You either return your leased vehicle or buy it out at the end of the lease.
3. Cars depreciate 20% the moment you drive them off the lot. Getting a CPO usually means that you have more car in hand than your loan amount at the end of a year. I bought a 2015 Nissan Altima for $16K on a $12K loan. A year later and I have $8K to pay off but my car's worth ~$13K according to KBB (which is awesome considering it's a Nissan). CPO's are great value.
4. You pay less insurance on a CPO than a lease. Well at least if you don't have much driving history in the US. Would appreciate if someone conformed this point, as I'm 80% certain this is a fact.
5. Its easier to get out of a finance than a lease should financial difficulties arise. You are bound to see out the terms in your lease, however you can sell your car on a lien title(not sure of the exact details of how).

Why you might want to lease:
1. You care two hoots about equity and ownership and just want to drive a nice car with the latest tech.
2. You don't want to pay as much sales tax.
3. You don't drive all that much
4. You want hassle free commuting. Most CPO's come only with powertrain warranties(Barring Honda and Chevy, to the best of my knowledge) or a years comprehensive at best. Toyota guarantees 2 years of free service even on new leases, so if it's worth considering for a lease. This doesn't apply to CPO's.
5. Peace of mind. With a CPO, there is still a doubt, no matter how small, that the car you have might give you trouble down the road. And if it does, you have an expensive, cash guzzling liability in your garage. If you don't like the car you leased, bear with it till the lease ends and ditch it, or just find someone to take over your lease if you really want to get out of it fast.

Thank you for the inputs. For CPO:
1. I am definitely fan of latest tech, but most of the more recent ones like Heads up display is something that i can definitely live without.
2. What does equity in this sense mean exactly ?
3. Exact reason why i don't want to buy brand new. I do not want 80% of my car's value on the next morning i wake up.
4. In Texas, every insurance is so expensive anyway.
5. This is one of primary factor in taking a step back on lease. I might move back to India in these 3 years and do not want this risk.

[Technocrat]

Originally Posted by Technocrat

Just picked this 2015 Mustang Ecoboost Premium

Thought I would provide a quick update on the Mustang

The ecoboost has been running great, it's a perfect blend of performance & daily driver.

Did a minor mod of wrapping the Mirros, roof & rear spoiler, here is the pic



Also did a 1200 + miles road trip when I moved few months back to Mid West from East coast. Here is a collage from that trip and also a pic that I really liked of the car at a rest stop.





The mustang performed flawlessly, consistently got 27+ mpg even with a fully loaded car (trunk & inside full with my stuff) & a heavy foot. Even at high speeds its rock solid.

The only problem so far has been an issue with back up camera which sporadically stops working. Its not frequent but does happen. Since my car has backup sensors with cross traffic alert that provides additional safety if it happens at night.

[amitoj]

Originally Posted by Technocrat

Did a minor mod of wrapping the Mirros, roof & rear spoiler, here is the pic

Nice. What did you use to wrap? Looks shiny!

[dr.abhijeet]

@Technocrat : Ruby red with that wrap looks very very nice. Do you have clear bra on it?

[Technocrat]

Originally Posted by amitoj

Nice. What did you use to wrap? Looks shiny!

Thanks, Just to be clear I didnt do the wrap, I got a local guy to do it

I had option of Matt, Regular, Carbon Fibre finishes in Vinyl, I chose the regular black which is a little shiny.

Originally Posted by dr.abhijeet

@Technocrat : Ruby red with that wrap looks very very nice. Do you have clear bra on it?

Thanks, No I don't have any clear coat on it. Just stock paint and this wrap on selected areas.

I took my car to one of the Mustang meets here & some guys came over asking if I have a glass roof

Here's another pic

[satya180]

Originally Posted by Technocrat

Also did a 1200 + miles road trip when I moved few months back to Mid West from East coast. Here is a collage from that trip and also a pic that I really liked of the car at a rest stop.

Attachment 1669436

The car looks amazing Technocrat. Ruby red with gloss/ regular black looks so good. Glad you dint go for the matt/ fake cf wrap.

27+ mpg with a heavy foot, only because its an Ecoboost. How much do you think the V8 would approx. return for the same trip?

[Technocrat]

Originally Posted by satya180

The car looks amazing Technocrat. Ruby red with gloss/ regular black looks so good. Glad you dint go for the matt/ fake cf wrap.

27+ mpg with a heavy foot, only because its an Ecoboost. How much do you think the V8 would approx. return for the same trip?

Thanks Satya.

On forums people have quoted less than 20 mpg with heavy foot with a GT but with a light foot some GT owners have reported around 30 mpg too on highways. I am sure with my style of driving it would have been less than 20

[amitoj]

Originally Posted by satya180

How much do you think the V8 would approx. return for the same trip?

I know my Hemi V8 would return 22-23 mpg over such a long trip. Cylinder deactivation, yayyy!

Originally Posted by Technocrat

Thanks, Just to be clear I didnt do the wrap, I got a local guy to do it

I had option of Matt, Regular, Carbon Fibre finishes in Vinyl, I chose the regular black which is a little shiny.

Cool. Next question then. How much did it cost?