Is this a good deal for a CPO 2005 X3?

[jmj]

2005 BMW X3 3.0
20,000 miles
White / black leather / aluminum trim
Automatic
Cold, Premium & Sport packages
Servotronic steering
Privacy glass
Xenon headlights
Park sensors
Premium Hi-Fi
Satellite radio prep'n

Original MSRP: $44,145

BMW Certified until 7/28/2011 or 100,000 miles

Sales price $31,900

[scott3]

You might want to take a look at the suggested retail & whoesale pricing info on this thread to get an idea about your deal.

[rudeney]

As a very loose general idea of pricing, go to www.kbb.com (http://www.kbb.com/) and price out the vehicle in question. If it’s less than 3 years old and for sale by an authorized dealer and qualified for a CPO program, the condition will be “Excellent”. If dealing with trade-in values or private party sales, then the condition is *always* “Good” or “Fair”. In other words, don’t overestimate the value of your trade-in or a FSBO since “Excellent” truly means “showroom condition” with very little normal wear and tear plus new brakes, new tires, bright paint with no dents, dings, etc.

Once you get the KBB price, then subtract about 10%-15% to get more of a “true” market value (i.e. a more realistic trade-in value or a more realistic retail sales price). In your case, this vehicle is about $37,800 as a “retail” value on KBB, so subtracting 15%, gives $32,130 which means the dealer’s asking price of $31,900 is pretty decent. In fact, it sounds a bit low. Is this a negotiated price or their asking price? Also, are they a no-haggle dealership? If they are a traditional negotiable dealer and this is the asking price, I’d go in offering $3,000 less and see where things go. Most used cars have around $5K markup. In fact, for most dealers, used cars are more profitable than new cars.

[scott3]

You might also want to look on edmunds.com as they also list suggested retail for CPO