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X3 E83 (2004 - 2010)
Talk about the E83 BMW X3 in this forum!

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  #1  
Old 09-02-2009, 01:57 PM
Bill97Z Bill97Z is offline
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CPO Pricing Rant

I don't know if anyone else has been following the market (X3 in particular), but the longer I keep on top of it, the more I am starting to see "dealer price fixing."

Last yr we got a nice deal on my wife's 06 X3 sport, 20K miles CPO. This yr, for some reason the 06's are being listed by dealers for the same price or more than what they were last year. We are pondering buying a second X3, but I can't justify spending the same amount or more on an 06 when we got my wifes a yr ago for less (and the car is a model yr older now).

The dealers give me a sob story about how the market was good in 06 when they were sold so residuals are high.....now they are forced to buy back the lease turn-in's and have to price them accordingly so they don't take a loss. Well, I said....I'm not gonna be the one to take a loss either and walked out.

What makes them think the cars are worth what the bank estimated 3 yrs ago in this depressed market? Since all the dealers are asking around the same price, it appears to a new buyer that "that's the price." But for someone like me who has been tracking the prices for over a yr can see that the private sales, auction sales, and trade in values are dropping....the CPO prices are not because the dealers are paying top dollar for the lease trades....hmmmm.

I really thought BMW would step in and offer a sweet incentive for September, but I just saw the low financing incentive of Aug. was just extended through Nov. Good luck to all these dealerships.....I remember last yr when I would do a certain inventory search X miles from my location, about 40-50 X3's would show up....now over 200 are out there.....LOL. I guess they sold a ton of cars in 06 when the market was hot and now they are all coing back........(but dealers are still not budging on prices). So let them auction them and take a loss.............
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  #2  
Old 09-02-2009, 02:06 PM
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Coffeeman Coffeeman is offline
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The fact that all BMW CPO vehicles are master listed on BMWUSA's site, would give credence to your theory of price fixing.

If the mother ship knows exactly what CPO each dealer has in inventory, it would not be too much of a stretch for mama to "suggest" what price they should be listed for.
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  #3  
Old 09-02-2009, 07:34 PM
JLee JLee is offline
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yeah it is interesting, i think alot of leases have handed back their X3s so they probably are sitting on high residuals. whats funny is that dealers are keeping 2006s steady and 2007s are beginning to heavily overlap with 2006 prices..

I'm waiting on my X3 purchase because I just see the inventory building though every dealer I go to that has a car i'm interested in have sold them before i get there so the market is pretty brisk.

Jeff
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  #4  
Old 09-02-2009, 09:12 PM
Zeke77 Zeke77 is offline
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The market has changed, and it is not currently in our favor. However, if you can wait a little longer, I predict prices will fall again in a month or two.

I follow auction results on Galves, and the prices for used X3's actually went UP in August. Apparently, this is a by-product of the Cash for Clunkers program--Many more buyers have been in dealerships recently intending to trade in a clunker for a qualifying vehicle, and a certain percentage end up getting redirected to the used car lot when they can't find what they expected in the showroom. Even though used X3s don't qualify for govt rebates, they are generally more fuel efficient than the guzzler SUVs most people have been driving. They are a relatively easy sell once you get an undecided prospect on the lot.

Fast forward two months, and the new models will be out, and the momentum from the CforC program will be completely gone. If you can wait, I suspect it will once again be a buyers market at that point.
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  #5  
Old 09-03-2009, 10:55 AM
Bill97Z Bill97Z is offline
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Quote:
Originally Posted by JLee View Post
yeah it is interesting, i think alot of leases have handed back their X3s so they probably are sitting on high residuals. whats funny is that dealers are keeping 2006s steady and 2007s are beginning to heavily overlap with 2006 prices..

I'm waiting on my X3 purchase because I just see the inventory building though every dealer I go to that has a car i'm interested in have sold them before i get there so the market is pretty brisk.

Jeff
I've seen that too with the 06/07 pricing....with the 08 not far behind.
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  #6  
Old 09-03-2009, 11:50 AM
rockfish66 rockfish66 is offline
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I recently bought an 07 and found there is negotiating room.
Dealers around here (NYC metro) have prices all over the place.

Stick to standard techniques (end of month, cross-shop dealers, etc) and you should be able to do OK. There is lots of inventory out there.
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  #7  
Old 09-03-2009, 12:58 PM
Bill97Z Bill97Z is offline
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Yeah, I am looking for a SP so it's harder to find.....07/08 in manual or 06 with auto (which are harder and harder to find with low miles (>25K).

The three I was keeping an eye on sold last week....oh well

06 SP Mystic Blue with Grey
06 SP White with Grey
06 SP Silver Gray with Black
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  #8  
Old 09-03-2009, 01:00 PM
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NetSpySD NetSpySD is offline
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The X3's are due for a changeout . If there is a gap between the old and new model, BMW can more than likely get more money for the old ones. Once the X1 hits the showroom, the X3 prices will drop a lot. So maybe wait a little longer.
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  #9  
Old 09-07-2009, 09:37 PM
langyuming langyuming is offline
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Thanks for this site very helpful.
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  #10  
Old 09-28-2009, 01:54 PM
miklm miklm is offline
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Also be aware that NADA book values have been adjusted UP almost universally across the board.

I bought a used truck (Silverado 2500HD) back in March/April when the market for diesel trucks was very low. I made a deal on it, and the same truck is currently selling for $5k more than I paid because the market has recovered.

C4C did some interesting things, including taking a lot of decent used cars OFF the roads and out of the market. Reduced supply = greater demand, all used car values go up as a result. This time last year we were in a rapidly sinking market. Now we seem to be in a recovering market, and values reflect that.
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  #11  
Old 09-29-2009, 02:40 PM
SpartanGA SpartanGA is offline
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this is very interesting as I am currently cross negioating with 3 dealers on 2006 and 2007 X3s. They arent moving too much.

It appears 2006 40k mileage X3s (with Msport pkg and pretty loaded) are going for $26k (found a 15k mileage 2006..but they want $30k). 2007 similar to the 2006 with same mileage is a couple grand more.

I can wait a month or two or three. Is this market going to improve? I would imagine most of the 2006s will disappear as the leases are all turned in?

thx
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  #12  
Old 09-29-2009, 04:55 PM
shamernj shamernj is offline
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That's a little pricey for the 06. My pretty loaded CPO 06 M sport was 29K 18 months ago with 24K miles.

Stuart
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  #13  
Old 09-30-2009, 07:33 AM
SpartanGA SpartanGA is offline
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Quote:
Originally Posted by shamernj View Post
That's a little pricey for the 06. My pretty loaded CPO 06 M sport was 29K 18 months ago with 24K miles.

Stuart
wow...18 months ago???? I can definitely see the used car values have gone up. We purchased a 2007 550i with 38k miles for $35k this past Feb. $70k car at half MSRP

Now here a $44k 2006 X3 with 40k miles is still worth $26k? and you state the above which is more attractive than quotes I am getting today, 18 months later.
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  #14  
Old 09-30-2009, 07:41 AM
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Evlengr Evlengr is offline
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Seems to me from watching this thread and checking dealerships; that they realize the 06 is the hot commodity and that people have figured out that the 07's are a crap shoot.
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  #15  
Old 09-30-2009, 03:05 PM
pwrdbym pwrdbym is offline
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We will be picking up a 06 X3 in the next month or so when our Passat comes off lease. Initially I was going to get a CPO. I have found that non-BMW dealers and private sellers are still fairly reasonable, but the BMW dealers are asking a lot more. Not to start a "CPO worth it" discussion but I'm thinking for the money I'll save I may just skip the CPO. After all a lot of repairs can be made with that extra money (and hopefully I won't need it).
As noted on other model forums here I am tired of fighting tooth and nail to get something replaced under warranty anyway. At least you get what you want when paying cash!
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  #16  
Old 10-01-2009, 06:11 PM
shamernj shamernj is offline
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Yeah, I got mine on the last day of March 08. The car was built in March 06. I got a good deal, mainly because that's when people were really beginning to panic on the price of gas and the SUV/SAV prices were plummeting.

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