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Yay or nay? (Carvana)

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Anonymous
Not applicable

Yay or nay? (Carvana)

Hey everyone,

 

Lemme get your opinion on something: 

2014 BMW 650i Gran Coupe xDrive 4D

82k mi

900 down

600/mo (apr around 7%)

 

Do you think I could get a better (or similar) deal leasing a new one?

Thanks, friends!

Message 1 of 16
15 REPLIES 15
sccredit
Valued Contributor

Re: Yay or nay? (Carvana)

Leases suck right now so, no, you won't beat $600 amonth on a lease. I would be extremely apprehensive buying a 650 with 82k miles on it. 

Message 2 of 16
Gmood1
Super Contributor

Re: Yay or nay? (Carvana)

You need to do your homework. Make sure the actual price is in line, where this vehicle should be.

Just be aware of the inflated pricing of used vehicles at this time. If you know the historical value of this vehicle a year ago. It would help you make a better decision. 

Unless I knew the person I was buying a used vehicle from. I wouldn't even consider buying used in this market. The prices are insane!

 

Sooner or later, the chip shortage will end. The bottom will fall out of the over inflated used market.

 

I'd shop for price first. And from there you can shop for the best rate.

If you're only shopping for the monthly payment. You're bound to get ripped off. JMHO

 

 

 

Message 3 of 16
Brian_Earl_Spilner
Credit Mentor

Re: Yay or nay? (Carvana)

Nay. High mileage bmw is a big no-no.

    
Message 4 of 16
RSX
Valued Contributor

Re: Yay or nay? (Carvana)

$600 a month is good

 

however, with those miles, it may end up being $2600/month.....

 

 

Dec 16/2019. EX. 721. EQ. 723. TU 746
Jan 25/2024 EX. 774 EQ. 751 TU 758
Inq. EX 2 EQ 3 TU 6 - - CC 2x24, 0x12
Amex BCP $35k - Apple GS $21k - BMW/Elan $19k - Cap1 QS $16.7k - Chase Amazon $13.6k - Chase Bonvoy Bountiful $10k - Chase United Club Infinite $26k - Citi CustomCash $3k - Citi DC $14.5k - CreditUnion1 $9k - DiscoverIT $31.5k - PayBoo - $15.6k - Penfed Gold - $19.3k - USB AltitudeGO -$19k- USBank Cash+ -$25k - PenFed LOC - $20k - USB LOC - $15k
Message 5 of 16
Loquat
Moderator Emeritus

Re: Yay or nay? (Carvana)

I definitely wouldn't buy this car, HOWEVER, should you move forward with it, and I know the general consensus around here is against warranties, but I'd REALLY recommend that you buy the ABSOLUTE BEST warranty you can get with the most comprehensive coverage that is offered.

Message 6 of 16
incognitony
Frequent Contributor

Re: Yay or nay? (Carvana)

You can check a service contract price at yaamember.com they charge a flat fee over wholesale. I vote for getting an Avalon and put a BMW badge on it.

Message 7 of 16
disdreamin
Valued Contributor

Re: Yay or nay? (Carvana)

Take a look at the graph on this site: https://www.yourmechanic.com/estimates/bmw/650i

 

Screen Shot 2021-09-09 at 11.07.32 AM.png

There is no way I would consider that car at that age. The likelihood of needed $3k+ in repairs in the very near future is ridiculously high. There's a probably a good reason someone sold/traded that car now instead of holding onto it another year.

 

[Edited to add: Whatever the price is on that vehicle, you need to basically add ~$8k to it (that's the minimum outlay you should expect over the next three years) and ask yourself if it's still a good deal. If the answer is no, walk away.]

Message 8 of 16
Anonymous
Not applicable

Re: Yay or nay? (Carvana)

Thanks everyone!

Believe it or not, I know better than to buy a European hoopty.  The maintenance alone is a suicide mission out of warranty, I get it.  I asked just to make sure I knew what I was saying.

Carvana is giving me a 7 day test drive so I'm gonna have me a good old time and send it back on its merry way.

Message 9 of 16
Creditplz
Valued Contributor

Re: Yay or nay? (Carvana)

Big pass from me, I just sold our old 2018 BMW S35i for $38k.... with 142k miles🤣 that thing shook, rattled, and felt like the engine was going to fly out at times... 

 

Not that bad a car to look at though! And unless you were driving it you'd think it was fine! 

BMW maintenance is badddd.. had the radiator go bad.. paid $4500 for that and the coolant levels to be brought up. Sensor went bad on the left back tire, transmission seal was leaking had to be fixed.  Etc... I can keep going!! 

find a reputable dealer, BMWFS leases aren't amazing right now but they're notorious for low MF & decent interest. And see if you can strike a deal, sometimes loaners, sometimes dealer specials, but if it were me I'd go through a broker! They get me the best deals!

Message 10 of 16
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