PDA

View Full Version : 04 5series - buying something this weekend


imposs
05-26-2007, 05:21 AM
Hi all,

I'm new to the forum, but have been lurking and there are some ppl here who know what they're talking about!

I've been looking a cars - specifically 04 530 and 545s and have run into a few issues. Please advise....


1. CPO. A BMW dealer certified a car that has moderate damage reported on CarFax. I thought BMW would only certify on minimal damage reports. Am I wrong, and should I be concerned with moderate damage on the report?

2. Another BMW dealer had a CPO listed at $42k online, $45k onsite, which obviously is typical. When I looked at the exact same car on BMW.com, it was listed at $36k, which makes it an exceptional deal. my question is do dealers have to honor the bmw.com price, or can they talk their way out of it....

3. I know this is an "it depends" type of question, but what are resonable prices for 04 530s, CPO with ~40k miles, premium package? I can't seem to find better than $35/36k in the ATL area. The E320 and M35 dealers drop their prices by $5k or more from sticker, but BMW hangs right at $2.5k below. Am I nuts? There are 5 BMW dealers in Atlanta!!!


Thanks for your help! :thumbup:

Russ Williams
05-26-2007, 08:19 AM
Forget the dealership for a used vehicle. Find a good broker. You will get much more for your money.

imposs
05-26-2007, 08:23 AM
What's your advice if I want to get from a dealership?


I want a CPO car.

Russ Williams
05-26-2007, 10:51 AM
I just purchased mine from a broker who got it from BMWNA and I assume it was CPO as my broker took it to a local dealer's service department to be checked out as a CYA move and a problem was found that was fixed under the warranty. I also had no problem purchasing the extended 100K mile warranty & maintenance agreement from the dealer. I even got them to match the price being offered by twinkidneygrill.com. Obviously the sales side of the dealership does not think too highly of my broker but the service side loves him as he brings in tons of business.

Again, the key is to do your homework and find a reputable broker.

ademitt
05-26-2007, 11:42 AM
For a car to be a CPO it must be certified and sold by a BMW dealer. Unless the purchaser (or the broker) buys the vehicle froma BMW retailer as a CPO vehicle, it will not have the extended warranty.

kge30m3
05-26-2007, 12:55 PM
I have a Titanium Silver/Black 2005 530i with 18,000 miles for sale at a similar price of the '04's that you're considering. The car has a clear carfax. Let me know if you have any interest.

Thanks.

imposs
05-26-2007, 06:25 PM
for the input.....

I bought an 04, 530 black on tan today. 43k, premium package, nav, and voice command ...... CPO + maintenance to 100k for $33.5 I'm happy!!!



Thanks again!

ademitt
05-27-2007, 11:39 AM
for the input.....

I bought an 04, 530 black on tan today. 43k, premium package, nav, and voice command ...... CPO + maintenance to 100k for $33.5 I'm happy!!!



Thanks again!


Congrats and enjoy!

gohornedfrogs
05-27-2007, 05:36 PM
for the input.....

I bought an 04, 530 black on tan today. 43k, premium package, nav, and voice command ...... CPO + maintenance to 100k for $33.5 I'm happy!!!

Thanks again!
Nice buy! Hope you enjoy it...these cars are works of art, not just driving machines. My '04 530i has re-kindled an enthusiasm for automobiles that I haven't had since I was in my teens. Hope it has the same effect on you.

Russ Williams
05-27-2007, 07:07 PM
For a car to be a CPO it must be certified and sold by a BMW dealer. Unless the purchaser (or the broker) buys the vehicle froma BMW retailer as a CPO vehicle, it will not have the extended warranty.

Are you saying that as a CPO vehicle it automatically comes with the 100K mile warranty? If so, then you will certainly be paying for it and as a result I see little difference between a CPO and non-CPO since I was able to purchase the extended warranty for $2500 which is probably less than the premium one pays for the CPO designation from the dealer. Am I missing something?

ademitt
05-28-2007, 07:49 AM
Are you saying that as a CPO vehicle it automatically comes with the 100K mile warranty? If so, then you will certainly be paying for it and as a result I see little difference between a CPO and non-CPO since I was able to purchase the extended warranty for $2500 which is probably less than the premium one pays for the CPO designation from the dealer. Am I missing something?

That's what the "Certified" means in CPO.

Yes you pay for it in the cost of the used car, typically about $2000 to $3000.

You are correct in saying you can get a third party extended warranty. One would have to read the fine print on both to determine which provides the better coverage. One advantage with CPO is that the warranty is with BMW. There have been some extended warranty insurers who have gone out of business.

imposs
05-28-2007, 08:20 AM
Don't you have to pay a deductible on the 3rd party extended warranty?

I think the best part is that for $1300, I have maintenance on the vehicle until 100k - which will pay for itself with a brake job alone.

I love this car.... :D

ademitt
05-28-2007, 08:33 AM
Don't you have to pay a deductible on the 3rd party extended warranty?

I think the best part is that for $1300, I have maintenance on the vehicle until 100k - which will pay for itself with a brake job alone.

I love this car.... :D

You may, depending upon the warranty and the specifics of the coverages.

IMO, CPO is the best way to go.

Russ Williams
05-28-2007, 12:56 PM
Folks - if my car that was purchased from BMWNA is not considered 'certified' then why was I able to purchase an extended warranty and maintenance agreement from my local dealer for a total of $3700?

ademitt
05-28-2007, 02:52 PM
Folks - if my car that was purchased from BMWNA is not considered 'certified' then why was I able to purchase an extended warranty and maintenance agreement from my local dealer for a total of $3700?

Because it is a third party warranty? :dunno:

Who is the warranty with? Did the dealer do you a favor and CPO the vehicle for $3700?

Russ Williams
05-28-2007, 07:46 PM
The warranty is with Fidelity Warranty Sevices which I am told is used by almost all BMW dealers to provide the extended warranty. What is the difference between this and the CPO warranty?

ademitt
05-29-2007, 06:52 AM
The warranty is with Fidelity Warranty Sevices which I am told is used by almost all BMW dealers to provide the extended warranty. What is the difference between this and the CPO warranty?

The CPO warranty is directly with BMW. For a car to become a CPO, it needs to go through the shop and get a specific checklist completed on condition and wear. Parts out of spec must be replaced. BMW then extends the factory warranty for 2 years. The extended CPO warranty has several limitiations and exclusions that the original 4 year warranty does not have.

The warranty you received may be just as good as the BMW CPO warranty. One would have to compare the coverages to determine which is more inclusive. Does your warranty have a deductible?

Russ Williams
05-29-2007, 08:53 AM
Yes...$100. My warranty is for an additional 6 years or 72K miles from date of my purchase which is obviously much better than an additional 2 years.

nahugry
05-29-2007, 10:01 AM
1. CPO. A BMW dealer certified a car that has moderate damage reported on CarFax. I thought BMW would only certify on minimal damage reports. Am I wrong, and should I be concerned with moderate damage on the report?

That is the exact reason you need to find a reliable, trustworthy dealer. When you are at the dealership, there should be a list of things the BMW requires to check and pass to become a CPO(which is a pretty extensive list), but many dealers out there are not too thorough due to the fact that they are the one who BMW authorizes to have the car certified.
I'd recommend going further to look for a reputable dealer, not the one down the street from work or home.


2. Another BMW dealer had a CPO listed at $42k online, $45k onsite, which obviously is typical. When I looked at the exact same car on BMW.com, it was listed at $36k, which makes it an exceptional deal. my question is do dealers have to honor the bmw.com price, or can they talk their way out of it....

Dealers do not have to honor any price at all. Most dealers will make a very simple excuse which really will boil down to "it's just an entry error on everyone except on our part".... very lame, but effective. However, you may be able to gain an edge when negotiating with delivery price. Just be sure to take advantage of it.


3. I know this is an "it depends" type of question, but what are resonable prices for 04 530s, CPO with ~40k miles, premium package? I can't seem to find better than $35/36k in the ATL area. The E320 and M35 dealers drop their prices by $5k or more from sticker, but BMW hangs right at $2.5k below. Am I nuts? There are 5 BMW dealers in Atlanta!!!


This really is an "it depends" type of question. It would be easier to answer if you post ALL options on the car. You can ALMOST always safely assume that all 5 series are equipped with Premium package (that's what gives you the leather on the car, bluetooth, ambient lighting and the garage opener). Some people buy leather as a stand alone option, but most people go for the entire package due to the fact that the price difference is not very significant.
What really changes the price on the car is the sports package, premium sound package, and the navigation. If the car is loaded with such options and has about 35~40k on the motor, then 35~36k sounds decent. Anything less should be significantly less.
In my personal opinion, I would not pay anymore than 32.5k for an 04 5 series with forementioned miles that does not have any or even some of options mentioned above.
One more thing..... when buying 04 5series with premium package, make sure the car has a bluetooth. Build date of April and before does NOT have BT in them even with the premium package.

* Trick is to shop around and take your time!!! and let the dealers compete with each other by you letting them know of your progress on the search!:)

Good luck and hope to have you post pics of your new car soon!!!:thumbup:

Maddog-99
05-29-2007, 09:11 PM
Congrats on your new car, so this is more for the thread:

I went through a Broker & saved about $5K off of Blue Book value net/net.
We profiled the upcoming auctions, picked out one I liked, went & saw it & bought it on site.
Paid mid 30's for a KBB value of $42.
I then paid the extra $2K to BUY a 7/100Kmi extension to my current warranty.
You can do this at time of purchase through a licensed reseller (I dont know all restrictions, but brokers & lots can do this & I highly recommend it).

Dont mess with a car with a bad report of any kind, why bring that risk into the equation?