To Buy or Not to Buy off Lease? CPO vs Warranty
Hello All: Long time reader, first time poster. Here is the deal...I use to have a 2004 325i that I sold a few years ago. I loved it. We now only have one car but I have been in the market for a while. I'm looking at the new 3, Jetta, CLA, or new A3 sedan. However, my parents 2011 328i (23K miles) is coming off lease in January. The residual is about $23,300 to buy it off lease. Car is in good shape, low miles, and I know the car's history since it was only owned my by parents.
1. Given the car has no visible issues is $23K a good price in the market for this car? (No Nav but premium package, heated seats).
2. IF I buy the car off lease should I have the car CPO'd and then I buy it back CPO covered? (Possibly negotiate a lower CPO price)...OR I just buy the extended warranty package once the original warranty is over? The car still has another year on its original factory warranty.
Thanks for the input!