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  #1  
Old 10-18-2017, 08:23 PM
Ocean Reef Ocean Reef is offline
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Cars sold at AUCTION

What are the pros and cons of buying from a dealer a CPO car that has been sold previously at auction.. I am seeking a one owner car.
Should I be wary?
Many seem to be low mileage. You'd think the dealers would want to keep it once the lease was up.
Lastly, should I be wary of cars that were driven by corporate BMW suits?
Seeking to buy a CPO 428i or 382i from a dealer
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Old 10-19-2017, 08:39 AM
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Wgosma Wgosma is offline
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You might want to post your questions in the F30 (current 3/4 Series) sub-forum, you'll probably get more responses.

Here's a posting I pulled from the 'General' section (this section).....I think the text I've highlighted in bold face are important when buying used, CPO or whatever.

Good Luck / Bill



1968BMW2800 1968BMW2800 is offline
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We have come to understand, thanks to comments from CA's posted on various threads, that the suggested pricing on BMWNA protection products does not have as high a dealer mark up as many 3rd party products. And, at least there is the hope that BMW will work with you if you have a claim on a BMW supported insurance plan. And, remember, that's what these babies are, not warranties, but insurance plans. And insurance is purchased to mitigate risk -- the cost of the insurance must be weighed against the potential risk. Different circumstances lead to differing conclusions. Most who do the math realize that self-insuring is often more cost effective, yet we have all heard stories of people facing big repair bills but, because they had the insurance, they came out ahead. But those cases are, statistically, rare, since the only way insurance works is that the loss rates favor the house.

The CPO is a way for a customer to have some small amount of assurance, not insurance, but assurance, that the dealer has taken a close look at the car and has corrected anything they found. A lot of trust is involved unless the customer is allowed to witness the inspection and knows enough about what is being witnessed.

So CPO has some value. $7,000 of value? If I felt I needed to spend an extra 7 grand for a CPO with a very long list of NOT COVERED items -- items that cost a lot to fix, I'd think long and hard about the value proposition on that deal...

Which brings up the main point. A used car, CPO or not, is a used car and the buyer is assuming greater risk than if acquiring a fully factory warrantied new car. Therefore, the price paid for a used car should reflect the risk the buyer is assuming.

Dealers can ask whatever they want. Prospective buyers can offer as low as they feel is necessary to mitigate potential downstream repair costs. And, for peace of mind, they can purchase additional insurance, hopefully at a discounted price as well.
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Old 10-19-2017, 02:04 PM
Glaird Glaird is offline
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Location: USA, Pacific Coast
 
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Mein Auto: F10-'16 550i, F82-'18 M4
I have pondered, over and over, throughout my life, buying a car coming off of lease or something similar to above, where the dealer has a huge markup built in, the car appears to be a gem, and I may be able to get nearly what I want, for a lot less than MSRP. Then I start asking these questions of myself, and inevitably buy brand new, cash:

1) How do I know the real history of that car, versus the alleged paper trail, complete or spotty?
2) If I were careless, disregarded other's property, or just ignorant on how to treat a car, how would I treat an essentially rented automobile, destined to be dumped on a dealer, for a newer model?
3) How close is the dealer going to look over that vehicle? Especially, if the car details really well, and 99% of buyers haven't got a clue how to assess the state of a used car?
4) Does anyone know how to really break in a car? Because, if a new owners goes to show off this new "beast" to his buddies w/o breaking it in properly, approximately 50K miles later major failures will begin to show themselves.
5) Did the previous owner over service/maintain his new baby? Or, did he cut corners because the lease payments were more than he counted on w/o anything left over for luxuries like service/repairs?
6) That hurricane that clobbered Houston was named Harvey, right? How hard is it to vacuum out, wash, and clean up a water damaged car, to make it show really nice on the used car lot?
And so on and so on.

One thing I can be reasonably sure of is an odometer reading of 10 miles of less, means no one has abused my new car.
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