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E60 (2004 - 2010)
BMW 5-Series (E60 chassis) was first seen in the Unites States in the fall of 2003 with a 2004 Model Year designation. The E60 is now available as a 528i, 528xi, 535i, 535xi, 550i and a 535xi sports wagon! -- View the E60 Wiki

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  #1  
Old 12-27-2012, 11:22 PM
alphaneo1 alphaneo1 is offline
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Location: PA
 
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Mein Auto: 2010 528i xDrive
CPO Negotiation Help!

Hi guys,

I totaled my car last week and want to get another one. I'm a novice at this and would definitely appreciate some tips and strategies. I'm looking at 2 choices offered by the local dealership:

1. Top choice - 2010 528i xDrive Carbon Black, Nav, Premium, M Sport, Value, HID, Heated + fold down rear seats. 42000 Miles with extended warranty 50k and runs out on 10/2015
Asking price: 37k

2. 2010 528i xDrive Space Gray, Nav, Premium, M Sport, Value, HID, Comfort Access, Premium Sound. 37000 Miles with extended warranty 50k and runs out on 11/2015
Asking price: 39k

While not particularly strapped for cash, I'd like to get it as low as possible, and rather quickly as I currently do not have a rental. I understand that it is the end of the month, which should work in my favor.

Thank you for your time!
M.
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  #2  
Old 12-27-2012, 11:41 PM
SoCalBimmerGuy SoCalBimmerGuy is offline
Why drive anything else
Location: Southern California
 
Join Date: Feb 2012
Posts: 69
Mein Auto: 2013 X5 35i Premium
Those are nice options but the price seems high for what you are getting. For instance in march I bought a CPO 535i with every single option on it with 25k miles on it for $38,500. The car was originally priced at $46k so it is possible to get them to drop the price.
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  #3  
Old 12-28-2012, 05:59 AM
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z0lt3c z0lt3c is offline
what does this button do?
Location: Hunterdon County, NJ
 
Join Date: Jun 2006
Posts: 869
Mein Auto: 08 535xit
If your looking for the best price, you would be better off finding a vehicle private party, or one without CPO, and adding something like a Route 66 aftermarket warranty. The Route 66 product is more inclusive then CPO and also can be extended up to 125K miles. Both of the vehicles are covered by BMW maintenance until 50K, but I would still suggest getting a copy of the service history and reviewing for issues. I would prefer your vehicle #2 but not having heated seats on the east coast is a bummer.
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  #4  
Old 12-28-2012, 06:59 AM
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DAI DAI is offline
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Location: Wisconsin
 
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They both have heated front seats, difference are the heated rear seats in the Carbon Black. Sorry, looked at them both on BMW's website

First, the relative mileage and price difference is not that great where it should come down to personal preference in color and condition upon visual inspection. Be sure to look at the carbon black both in the shade and in direct sunlight or maintenance bay lights; the car looks different between the two. However, the price they are asking is way too high, in both cases. Not sure what the market around you is accepting, but I'd be surprised if it's that high.

Don't buy the dealers line of they only have a couple hundred dollars of room to move on the price, you are going to hear it. If you like the car, I recommend searching the US via BMWs website and autotrader, understand the distribution of prices on similar cars, evaluate KBB and Edmunds values, and set your starting price based on that. I got thousands knockoff mine in Oct. Don't forget to negotiate with the purchase of wheel insurance as part of car purchase.
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  #5  
Old 12-28-2012, 08:30 AM
alphaneo1 alphaneo1 is offline
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Thanks for all your replies! How do I go about getting wheel insurance and what is that exactly does that cover?
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  #6  
Old 12-28-2012, 08:46 AM
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DAI DAI is offline
Gap Filler for a M6 GC?!?
Location: Wisconsin
 
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Posts: 408
Mein Auto: '10 550i M-Sport
The wheel to the right should be the one on the vehicle. The dealer should offer the insurance (ran through BMW). It's coverage for 5 years and cover dents and wheel damage caused as a result of the low profile tires. Essentially, if you dent a rim because you hit a pot hole, they will replace it, not repair it, through the insurance at no cost to you. This also includes replacing the tire. It does not cover curb rash and a couple other things. And a heads up, it a couple thousand.

Given that you live in PA, and I would guess your roads get as bad as the ones in the IL and WI area during and after each winter, IMO worth the money. Don't forget to research the tires on the car, since they are more than likely performance tires, which are not safe for winter. So you may need to make an investment in winter tires or change minimally to all season. However, if the car has performance tires currently, this is negotiating leverage in your favor since the dealers test drives and the cars handling will be limited during this winter, and if they can't move the car until spring, it will be one more year depreciated; I'd split that difference with them as part of the price.
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  #7  
Old 12-28-2012, 08:47 AM
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DAI DAI is offline
Gap Filler for a M6 GC?!?
Location: Wisconsin
 
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  #8  
Old 12-28-2012, 09:18 AM
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WillInDenver WillInDenver is online now
1oz perception-1# obscure
Location: Denver
 
Join Date: Oct 2007
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Mein Auto: 2013 535i XDrive M-Sport
Whenever I see a thread out here about a price, negotiation, or getting the best deal from a dealer, 95% of the responses are the same. "You could do WAAAAY better than that", "You're getting screwed", "I saw one last week for $10K less than that", and on and on. I'm convinced most of these people are talking directly out of their asses.

The rule is that there are no rules. Variables abound. How long has the car been on the lot? How is the dealer doing on their quota at the time you walk in the door? What is their sense of demand for cars like the one you have your eye on? How do they size you up as a buyer? What are the auction and book values of the car?

I feel like, as regards negotiating car deals, the right deal is the one that gets done and that both parties can live with. All you can really do is arm yourself with as much data as possible, determine a price range you would be comfortable with, and go after the deal. You will either make the deal or you won't, and if you don't, be assured there is another car out there somewhere.
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2013 535i xDrive M-Sport | 2005 545i Sport (Retired and Missed) | 2001 X5 3.0 Sport (Retired)
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  #9  
Old 12-28-2012, 09:34 AM
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1985mb 1985mb is offline
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Location: Tri-state area
 
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Those prices seem high considering I just saw CPO 2010 535s (yes, M-sport) for much less.

Example
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  #10  
Old 12-28-2012, 09:36 AM
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1985mb 1985mb is offline
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And another one
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  #11  
Old 12-28-2012, 10:10 AM
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DAI DAI is offline
Gap Filler for a M6 GC?!?
Location: Wisconsin
 
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Posts: 408
Mein Auto: '10 550i M-Sport
Quote:
Originally Posted by WJGreer View Post
Whenever I see a thread out here about a price, negotiation, or getting the best deal from a dealer, 95% of the responses are the same. "You could do WAAAAY better than that", "You're getting screwed", "I saw one last week for $10K less than that", and on and on. I'm convinced most of these people are talking directly out of their asses.

The rule is that there are no rules. Variables abound. How long has the car been on the lot? How is the dealer doing on their quota at the time you walk in the door? What is their sense of demand for cars like the one you have your eye on? How do they size you up as a buyer? What are the auction and book values of the car?

I feel like, as regards negotiating car deals, the right deal is the one that gets done and that both parties can live with. All you can really do is arm yourself with as much data as possible, determine a price range you would be comfortable with, and go after the deal. You will either make the deal or you won't, and if you don't, be assured there is another car out there somewhere.
I agree with most of what you said, except what I bolded. There are rules, and knowing them and understanding the impact they have drive a win-win price. And I (personal preference) go for a fair price rather than the lowest price because I want a relationship with my dealership.

With my last couple purchases I've actually done a multi-variate analysis on multiple factors and found the 'rules' and applied then to my purchase to determine the fair price. I also went in with that fair price right at the end of Oct when I knew the dealer had an incentive to beat Audi and MB sales that month, which provided me the narrow time window I wanted for a decision so there was not a waiting game and repeated phone conversations. It also helps when you don't get married to the vehicle and you really are able to walk and continue your search. Also understand that buyers not understanding the rules can throw off any deal, but it the long run playing your 'value price' within the rules will pay off.

So based on my purchase from a couple months ago, the extensive research I did, I can say with confidence that you can get a better price. But agree the biggest factor is how does the local market value the vehicle, and that is where I would want to have a good understanding prior to talking price. If you want the best deal possible, be ready to buy airfare and drive back

Therefore I consider myself part of the 5% and not in the 95% you described above

Last edited by DAI; 12-28-2012 at 11:09 AM.
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  #12  
Old 12-28-2012, 11:19 AM
CK530 CK530 is offline
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Location: Monmouth County, NJ
 
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Posts: 150
Mein Auto: 2013 550ix MSport
Hey Alphaneo1,

Just throwing my hat in the ring. I might be trading in my 2010 550i on Monday for a 2013 M3. If the deal doesn't go through then I'll be listing my 2010 550i in CCA website & Roundel. I'm planning to list the car around $41K. Trade-in and tax credit value around $38.5.

If you're interested in moving to a 550i, then let me know and I'll send over some pictures. My car is well cared for....currently it have 28,800 miles. In service date is 3/31/10. Oil change every 7.5K and 2 weeks ago, I just did my 30K service. Have all the records and all services were performed by Paul Miller BMW. All new Michelin Pilot Sport A/S tires, installed/balanced and 4 wheel alignment on June of 2012. Waxed twice a yr and detailed weekly (My wife & son think I'm crazy). Car is driven between spring and fall....garaged during winter (I usually take a long drive once a week during winter months).

I work in the Princeton MarketFair Mall on Route 1. I don't know how far you are in PA. If you would like to see the car in person, let me know. If you have any other questions, just ask....always try to help out a bimmerfest member. As for the price of the car, if interested, do a search in our area for a 2010 550i.....we'll work something out. I rather sell it to someone who appreciated an Ultimate Driving Machine.

GL
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  #13  
Old 12-28-2012, 11:34 AM
Bethanyulm Bethanyulm is offline
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Location: Louisiana
 
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CK, what color is your 550?
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  #14  
Old 12-28-2012, 12:18 PM
CK530 CK530 is offline
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Location: Monmouth County, NJ
 
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Mein Auto: 2013 550ix MSport
Quote:
Originally Posted by Bethanyulm View Post
CK, what color is your 550?
Alpine White/black interior.
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2013 550ix M Sport - AW/Black
2013 X5 50i M Sport - Carbon Black/Cinn (Wife)
2010 550i M Sport - AW/Black (Sold)
2007 530i Sport - AW/Auburn ED on 2/19/07 (Retired)
2001 740iL Sport - Anthracite/Beige (Retired)
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  #15  
Old 12-28-2012, 12:38 PM
Gardis Gardis is offline
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Location: Connecticut - USA
 
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CK, that's a pretty car. I have the identical car in 530i, Alpine White with the Black leather and Black Anthracite, sports package. How do you load up a pic like that? What's the trick?
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  #16  
Old 12-28-2012, 02:13 PM
alphaneo1 alphaneo1 is offline
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Location: PA
 
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Mein Auto: 2010 528i xDrive
Gardis, on the right side should have controls to upload pictures.

Anyway, I just left the dealership, no deal. He's only willing to budge 1500 on either car, even after I showed him those 2 535 listings. I need help.

Thanks!
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  #17  
Old 12-28-2012, 03:39 PM
Gardis Gardis is offline
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Location: Connecticut - USA
 
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Mein Auto: 2007 530i
Alpha,
Guess what? You're going to do the deal and save the $1500. Sometimes that's how it goes. I saw a beautiful Alpine White 2007 530i that was everything I wanted. I knew from experience looking for almost 2 years I wasn't going to find another one like it, loaded the way it was. The dealer (Greenwich CT) told me there "wasn't much room". I paid $36,600 for the car, down from $36,800. And I paid it. I love the car, and knew it was the right move for me. It just went off warranty in June 2012. So far, that car has cost me nothing in maintenance, they even replaced the rear brakes under the warranty two months before the expiration. It hasn't needed a thing mechanically. Just the normal stuff.
Don't regret a thing. Just do it if you really like the vehicle. If it's one of many, then keep looking.
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  #18  
Old 12-28-2012, 04:10 PM
alphaneo1 alphaneo1 is offline
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Location: PA
 
Join Date: Dec 2012
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Mein Auto: 2010 528i xDrive
CK530 - thanks for your very generous offer! If my accident wasn't my fault, the insurance rates may have been acceptable. But since I totaled my car, I suspect my rates will go up quite a bit, even more so with a 550. But thanks anyway.

The dealer is telling me that the invoice price on that car is 34000, which I think is high for what it has. Thoughts?
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