Welcome to Bimmerfest -- The #1 Online Community for BMW related information! Please enjoy the discussion forums below and share your experiences with the 200,000 current, new and past BMW owners. The forums are broken out by car model and into other special interest sections such as BMW European Delivery and a special forum to voice your questions to the many BMW dealers on the site to assist our members!

Please follow the links below to help get you started!

Go Back   Bimmerfest - BMW Forums > BMW Model Discussions > 5 Series > F10 / F11 (2011 - Current)

F10 / F11 (2011 - Current)
The new chapter in the highly successful story of the BMW 5 Series Sedan (F10) and wagon (F11)

Reply
 
Thread Tools Display Modes
  #1  
Old 02-24-2013, 05:14 AM
VicTexas2010 VicTexas2010 is offline
Registered User
Location: Houston
 
Join Date: Oct 2010
Posts: 80
Mein Auto: Now Lexus Buying BMW 535
My 2011 BMW 535i - CPOed from dealer or buy Platinum warranty

Hi,

The dealer from whom I "Owner's choice" leased this vehicle wants to sell me back as a CPO vehicle at the end of the lease if I do wish to trade-in and buy a new BMW. He already appraised the vehicle @ $39000.00 ,yesterday.

I would rather put the money he may charge me for CPO or Platinum 7 yr/100000 in a bank cd or some other instrument and pay from it as I encounter repairs - hoping, the money will NOT run out at end of 7 yr/100000.

Having said that, can somebody, please, explain me if BOTH are same or is it better to choose one over other? Somehow, I got a feeling he was pushing CPO over Platinum so I am guessing he has bigger margin selling me CPOed vehicle. Please note that, this is my vehicle and I am not buying a used vehicle from the dealer's lot.

THANKS a LOT ........folks. Everybody is so helpful here....I LIKE bimmerfest.com
Reply With Quote
Ads by Google
  #2  
Old 02-24-2013, 08:09 AM
mryakanisachoad's Avatar
mryakanisachoad mryakanisachoad is offline
Officially Welcomed to the 'Fest
Location: brooklyn,ny
 
Join Date: Aug 2008
Posts: 570
Mein Auto: 550xi / 135i / M5
Quote:
Originally Posted by VicTexas2010 View Post
Hi,

The dealer from whom I "Owner's choice" leased this vehicle wants to sell me back as a CPO vehicle at the end of the lease if I do wish to trade-in and buy a new BMW. He already appraised the vehicle @ $39000.00 ,yesterday.

I would rather put the money he may charge me for CPO or Platinum 7 yr/100000 in a bank cd or some other instrument and pay from it as I encounter repairs - hoping, the money will NOT run out at end of 7 yr/100000.

Having said that, can somebody, please, explain me if BOTH are same or is it better to choose one over other? Somehow, I got a feeling he was pushing CPO over Platinum so I am guessing he has bigger margin selling me CPOed vehicle. Please note that, this is my vehicle and I am not buying a used vehicle from the dealer's lot.

THANKS a LOT ........folks. Everybody is so helpful here....I LIKE bimmerfest.com
Personally, I think it's extremely satisfying to purchase a vehicle you leased, regardless of whether or not it's the most cost efficient method. There are many intangibles to consider which by definition can be emotional. Cars have different value metrics than most other objects. For some, cars only have utility value and that's it. For others - cars can offer emotionally satisfying memories and associations.

Self insuring a car like a BMW can be risky because of the potential high cost of repairs. BMW's have lots of single repair items which far exceed the entire cost of a good warranty. You really need to be frank with yourself while carefully weighing your risk.

Last edited by mryakanisachoad; 02-24-2013 at 08:11 AM.
Reply With Quote
  #3  
Old 02-24-2013, 08:15 AM
nirvana19 nirvana19 is offline
Officially Welcomed to the 'Fest
Location: Dallas
 
Join Date: Nov 2012
Posts: 115
Mein Auto: '13 535i 6MT & '89 535iA
I would get a warranty - these cars are complex and so highly computerized that you don't have great independent outlets (those that can service the cars are forced to charge nearly as much as the dealerships and there's little getting around the extremely expensive electronics like modules). It's too early to tell what the longer-term operating costs for these vehicles will be and the warrranties are more than a pure revenue generator for BMWUSA - they also help keep resale high.

Can't speak to CPO vs. Platinum.
Reply With Quote
  #4  
Old 02-24-2013, 08:38 AM
VicTexas2010 VicTexas2010 is offline
Registered User
Location: Houston
 
Join Date: Oct 2010
Posts: 80
Mein Auto: Now Lexus Buying BMW 535
I spoke with my interdependent mechanic (who specializes in BMW/Merc etc.) who takes care of my 2002 Lexus ES 300 and he feels that these cars will start giving (real) trouble after 100,000 miles and no warranty will go beyond 100,000 miles. He says, it is a cash cow for them since these BMWs rarely break-down during warranty period. Hence, you will most certainly loose the money and will make the dealer/stealer RICHER .

I need to look deeper and more thoroughly into this. I have seen many discussions here which suggest what I wrote i.e keep the money in bank instead of buying any kind of warranty.

Appreciate your feedback and thought process

Thanks a LOT.

Last edited by VicTexas2010; 02-24-2013 at 05:12 PM.
Reply With Quote
Reply

Bookmarks


Forum Navigation
Go Back   Bimmerfest - BMW Forums > BMW Model Discussions > 5 Series > F10 / F11 (2011 - Current)
Today's Posts Search
Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is On



Forum Jump


All times are GMT -7. The time now is 03:18 AM.


Powered by vBulletin® Version 3.8.7
Copyright ©2000 - 2014, vBulletin Solutions, Inc.
© 2001-2011 performanceIX, Inc. All Rights Reserved .: guidelines .:. privacy .:. terms