[lordknows.]

Hey guys, long time lurker first time poster.

The lease for my 2021 540i is coming to an end this month. I have decided I want to buy this car as I love this car and I’m not too impressed with the lease offers for the G60 (more than double my current monthly payments).

With that being said, I’m also interested in getting the Route66 warranty. I called HFCU and PenFed to see if I could get the warranty simply as a member and both stated it would only be available if I had an auto loan through them.

My plan was to buyout in cash. So my question is, would BMW allow me to buyout the car if I get a loan from a credit union or is this going to be restricted due to their new rule of no 3rd party buyouts. I would essentially get the loan from the CU with like 95% downpayment just to get access to the extended warranty.

Are there any other better options for 3rd party warranty that don’t require a loan?

Thanks!

[Joe-BMW33]

You have the right to buy the vehicle, it is part of your lease agreement and at the stated residual value. There are no contingencies or limits on how you buy it or who you finance it through. Cash, Credit Union, BMWFS, etc. It's all up to you how you source the funds.

They definitely put some restrictions on lease buyouts during COVID where people were flipping and selling or reselling directly to someone else. Dealers wanted the inventory if you didn't want the car and were making it difficult in this space. This has nothing to do with your situation.

Keep at it with Route 66 and financial institutions. Plenty of us (including me) just bought the warranty without financing or refinancing with the bank selling it. I was a "member" and I did have a loan out with them on my VW at the time, but that honestly had no impact on whether they would sell to me or not. Of course they want the loan, so if you are going to Finance, use them and roll in the warranty payments.

[lordknows.]

That makes sense and it what I was expecting. Thanks for confirming Joe, I appreciate your time.