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E90/E91/E92/E93 (2006 - 2013)
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  #1  
Old 03-23-2013, 07:35 PM
Drewsome Drewsome is offline
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Smile Heading to BMW Dealer soon: Any tips?

My friend is turning in her very low mileage, well maintained 328i as its lease ends in April. I would like to buy it from her directly, but for that to work, she would have to buyout the vehicle from BMW, pay tax on that amount, then sell to me and then I have pay tax on that same amount! Seems insane to pay double tax like that

Assuming nobody can offer ideas to avoid the double tax issue, I'm guessing the dealer will CPO the vehicle, increase the price accordingly, and then be happy to sell to me.

Any tips for the uninitiated? I figure the dealer will be happy to have an interested buyer, but I want to avoid being taken advantage of. A dealer deserves some profit, but basically I'm making it very easy for the dealer to quickly flip the vehicle. It won't be sitting in his lot depreciating. So his/her profit shouldn't be excessive, unless I get taken for a ride.

Any tips, fellow forum folk?

Last edited by Drewsome; 03-23-2013 at 07:36 PM.
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  #2  
Old 03-23-2013, 07:39 PM
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Marry her ..... ?

Anything for a deal on a BMW .....
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  #3  
Old 03-23-2013, 07:42 PM
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DSXMachina DSXMachina is offline
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Figure out what it's worth to you as-is. Go with her to the dealer when she turns it in. Tell the dealer that you will offer to buy the car as she stands and 'X' is your offer. They either say yes, no or maybe. Then proceed as appropriate.
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Old 03-23-2013, 07:43 PM
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DSXMachina DSXMachina is offline
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Originally Posted by laser View Post
Marry her ..... ?

Anything for a deal on a BMW .....
What ridiculous advice. It's not an M6!
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  #5  
Old 03-23-2013, 07:50 PM
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Originally Posted by DSXMachina View Post
What ridiculous advice. It's not an M6!
But she sounds like a keeper ...."very low mileage, well maintained" ...... the 328i sounds good too
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  #6  
Old 03-23-2013, 07:54 PM
Drewsome Drewsome is offline
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Quote:
Originally Posted by DSXMachina View Post
What ridiculous advice. It's not an M6!
Yeah, and I'm guessing her husband (my buddy) may not be too keen on the idea.

In all seriousness, I should have mentioned that she intends to take a lease on a new 528i at that same dealership. So I'm hoping that would put the dealer in a decent mood, and make him or her more inclined not to screw over their friend.

I probably shouldn't expect too much in the way of kindness or appreciation from the dealer, but my friend leasing a new 528i should provide me some leverage.
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  #7  
Old 03-24-2013, 08:11 AM
PaulNJ PaulNJ is offline
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Best starting point:

Determine the lease buyout + taxes for your friend + taxes for you= X
Search local dealers for the same car with same miles + taxes you would pay= Y
X-Y= Difference.

From this take off a grand or 2 that you may be able to get off from the dealer for a quick sale and your friends new lease.
Find out if the warranty from the buyout can go to you, or if this dealer offers extended warranties on CPOs.

I have a feeling buying it from your friend will be cheaper.

My wife leased a Honda Pilot. After 3 years the buyout was $17500. The same car at 3 local dealers was 25,500. Dealers are making money on well maintained CPOs.
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  #8  
Old 03-24-2013, 09:04 AM
ddeliber ddeliber is online now
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You shouldn't have to pay tax twice. Get the buyout price at lease end - She'll have it with the paperwork or she can go online to her account and get it. If that works for you, have her transfer it to you (it will cost $500 to do this) and then you buy it from BMWFS the same day. You can also go through a place like CarMax and have them do the paperwork but that will probably cost a bit more. The issue is that she probably has leverage depending on the buy out price vs market value, to get a better price on her 528 lease that she will lose if you do this.

You can also just call a local BMW dealership and tell then your plans and see what they offer (like DSX said) - you might want to mention that you were planning on just buying it from her but you wanted to see what they had to offer (options like CPO etc).
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  #9  
Old 03-24-2013, 09:08 AM
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mfisher0000 mfisher0000 is offline
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Used cars are a premium, specifically low Mileage BMW's. Manheim MMR prices are really high! I think you will be surprised by the dealer. I think they'll work at getting your business even if they don't make money...because this will not be the last one you buy and they know it.
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  #10  
Old 03-24-2013, 09:11 AM
onetrade onetrade is offline
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The dealership buys her car from BMW finance and does NOT pay taxes on it, then sells it to you. Usually they will put on a small markup and make some money on the interest. You are not double taxed.

Usually an easy transaction for you and the dealership. No upfront investment, they will be happy to do it and then offer you dinner when they find out she is getting a new lease.

I would bargain the price without telling them she wants a new car. Keep it a secret and then have them drop the price when they find out she's getting a lease.
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  #11  
Old 03-24-2013, 01:23 PM
Drewsome Drewsome is offline
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Quote:
Originally Posted by mfisher0000 View Post
Used cars are a premium, specifically low Mileage BMW's. Manheim MMR prices are really high! I think you will be surprised by the dealer. I think they'll work at getting your business even if they don't make money...because this will not be the last one you buy and they know it.
Thanks for the input, but aren't your two statements contradictory? If low mileage BMWs are at a premium, why would the dealer be so inclined to give me a great deal? For the promise that I might come back someday? Maybe. But most dealers I've experienced want to make money immediately, and on every transaction.
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  #12  
Old 03-24-2013, 01:27 PM
Drewsome Drewsome is offline
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Quote:
Originally Posted by onetrade View Post
The dealership buys her car from BMW finance and does NOT pay taxes on it, then sells it to you. Usually they will put on a small markup and make some money on the interest. You are not double taxed.

Usually an easy transaction for you and the dealership. No upfront investment, they will be happy to do it and then offer you dinner when they find out she is getting a new lease.

I would bargain the price without telling them she wants a new car. Keep it a secret and then have them drop the price when they find out she's getting a lease.
Boy, I hope you are right. My fear is that no matter what the dealer verbally promises, once my they buy the BMW from my friend, it is theirs and theirs alone.

They are then in the driver's seat and have full title. So why would they sell to me at less than market value? Maybe my fears are unfounded, but I have learned not to trust dealers. And I really want this car b/c I know it has been well maintained.

Thanks for your help!
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  #13  
Old 03-24-2013, 01:34 PM
Greyfox Greyfox is offline
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Ok, I might be stupid but why not go talk to the sales manager at the dealership she will be turning it into.

If you are up front, I expect they will do a good deal for you and might have some options you haven't even thought about.

I've only dealt with 2 dealerships, Asheville, NC and Lynchburg, VA and both have done very exceptional deals on vehicles.
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  #14  
Old 04-04-2013, 06:30 PM
Drewsome Drewsome is offline
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Quote:
Originally Posted by ddeliber View Post
You shouldn't have to pay tax twice. Get the buyout price at lease end - She'll have it with the paperwork or she can go online to her account and get it. If that works for you, have her transfer it to you (it will cost $500 to do this) and then you buy it from BMWFS the same day. You can also go through a place like CarMax and have them do the paperwork but that will probably cost a bit more. The issue is that she probably has leverage depending on the buy out price vs market value, to get a better price on her 528 lease that she will lose if you do this.

You can also just call a local BMW dealership and tell then your plans and see what they offer (like DSX said) - you might want to mention that you were planning on just buying it from her but you wanted to see what they had to offer (options like CPO etc).
You nailed it on the head! Dealer is charging $500 to do the transfer. But get this: to have the car CPO'd, they want $3900! I was expecting a quote around $1500. So, there's no way I'd do that.

But could I purchase a BMW extended warranty down the road? Or is this only available for the original buyer?
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  #15  
Old 04-04-2013, 06:47 PM
jaytank jaytank is online now
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Quote:
Originally Posted by Drewsome View Post
You nailed it on the head! Dealer is charging $500 to do the transfer. But get this: to have the car CPO'd, they want $3900! I was expecting a quote around $1500. So, there's no way I'd do that.

But could I purchase a BMW extended warranty down the road? Or is this only available for the original buyer?
You can definitely get the extended warranty as long as the car isn't 4 years or 50K old. (or may be even after that you can)
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  #16  
Old 04-04-2013, 07:07 PM
Drewsome Drewsome is offline
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Originally Posted by jaytank View Post
You can definitely get the extended warranty as long as the car isn't 4 years or 50K old. (or may be even after that you can)
Thanks jaytank. And by that you mean as a second buyers I can extend the FACTORY warranty? I don't want any non-BMW warranty that a dealer may offer. I've read on the internet that only the original purchaser can purchase the factory extended warranty, but they'll sell the maintenance package (which I don't want) to anyone.

Just so much misinformation out there. Too bad BMW doesn't publish this on their website. Lots of marketing hype, little information.
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  #17  
Old 04-04-2013, 08:05 PM
ddeliber ddeliber is online now
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Quote:
Originally Posted by Drewsome View Post
You nailed it on the head! Dealer is charging $500 to do the transfer. But get this: to have the car CPO'd, they want $3900! I was expecting a quote around $1500. So, there's no way I'd do that.

But could I purchase a BMW extended warranty down the road? Or is this only available for the original buyer?
Great, glad it is going to work out and yes, that CPO price is ridiculous. The value of the certification is the confidence that someone would have that the car is in good shape (which you already have from your friend), the rework (like tires, brakes and touch up on appearance - probably not a big deal, but something that you can take care of as needed) and the 6yr 100k mile extended warranty which is exactly the same as the 6/100 gold option that you can buy from any dealer in the country over the phone (as long as the car is under the 4/50k base warranty). The LIST price for the 7yr 100k mile platinum warranty is exactly $3900, and that gets you an extra year and coverage on the audio/idrive system that doesn't come with the gold. You can do much better, and I suggest that you tell them that you know this. It is also a 328i so it is debatable on value for an extended warranty as they are pretty solid (do a search and you'll find tons of threads on this).
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  #18  
Old 04-04-2013, 08:25 PM
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CALWATERBOY CALWATERBOY is offline
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Originally Posted by Drewsome View Post
Any tips, fellow forum folk?

Bring money.
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  #19  
Old 04-04-2013, 08:34 PM
Drewsome Drewsome is offline
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Bring money.
you got that right. Bring money, leave broke.
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  #20  
Old 04-04-2013, 09:32 PM
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tturedraider tturedraider is offline
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Quote:
Originally Posted by Drewsome View Post
Thanks jaytank. And by that you mean as a second buyers I can extend the FACTORY warranty? I don't want any non-BMW warranty that a dealer may offer. I've read on the internet that only the original purchaser can purchase the factory extended warranty, but they'll sell the maintenance package (which I don't want) to anyone.

Just so much misinformation out there. Too bad BMW doesn't publish this on their website. Lots of marketing hype, little information.
BMW's extended warranties (aka Protection Plan or service contract) are now available to subsequent owners, not just the original owner. They made this change a couple or three years ago. They also expanded the coverage options at that time. Previously they only offered a plan exactly like the CPO plan. It was called the Original Owner's Protection Plan (aka 2OP) and as the name implied it was only available to the original owner. As ddeliber mentions BMW's protection plans are available at discounted prices from various dealers.
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  #21  
Old 04-04-2013, 09:49 PM
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