[umichalumni]

I am looking to own my first BMW, I am currently looking to lease a CPO 1999 328i from a dealer. I'm looking for SP, PP, Xenons, I might forgo the nav system since it cost $2800 back then and it is rare in 1999's but it would be nice to get Anyway would anyone know what would be a fair price to pay for this car? When I add it all up on edmunds.com it comes out to near 30k using their TMV and that doesn't seem reasonable. Anyway I don't think they have updated their tmv price in a while to account for depreciation.

 

[umichalumni]

oh I forgot to add, I'm in the northeast and do not want a slushie so unfortunately it eliminates a ton of BMWs I see on lots.

 

[NewBmwGuy]

Don't know how to directly answer your question, but BMW's really keep their value and dealers make a killing CPO. Of course, you can count on the car you are getting being up to quality standards. The way I would look at your question is look at the ultimate dealer price (see if they are willing to deal) and compare that to a build at the official bmw site and go from there. Too many times I have heard about and actually seen people go CPO when for just a few more c-notes to gerr, they could have gotten new. Good luck!

 

[PropellerHead]

If you're going to lease, why worry about CPO? Unless the leased car has >36K, or is otherwise outside of the BMW warranty, CPO won't do you much good. CPO is also good until 100K miles, but I doubt you'd get there with typical lease mileage restrictions.

IMO, leasing makes sense for a new car or one with very few miles- this way, you can get the BMW warranty which includes oil changes, things that break (not things that wear like brakes or clutches), and the other stuff fixed within the terms of your lease. If you negotiate a longer lease with more miles, just add the extended warranty for 4 years 50K miles. I am unsure when the 3yr/36k BMW warranty began, but I know it is on >2000 model year cars.

CPO is great if you want to buy a car and drive it for 6 years/100K from new car delivery, but I wouldn't even consider it on a car I'd lease. I have never looked at lease prices, but I would bet that the premium on a '99 CPO would make your payments really close either to a slow-moving '02, or a barely used '01.

Maybe even a 5 speed 330- vroom vroom.:bigpimp:

 

[bren]

I am looking to own my first BMW, I am currently looking to lease a CPO 1999 328i from a dealer. I'm looking for SP, PP, Xenons, I might forgo the nav system since it cost $2800 back then and it is rare in 1999's but it would be nice to get Anyway would anyone know what would be a fair price to pay for this car? When I add it all up on edmunds.com it comes out to near 30k using their TMV and that doesn't seem reasonable. Anyway I don't think they have updated their tmv price in a while to account for depreciation.

BMW's do hold their value well, and CPO prices are normally really high. I started looking at CPO cars but ended up buying a new model using the Owners Choice financing and was able to keep my payments very close to those for the CPO cars. Before you settle on a CPO be sure to look at the new models. I know in my area right now (Baltimore) there are dealers offering low lease payments on leftover 2002's.

 

[JST]

I agree. Leasing any used car is a mistake. New car leases are often subsidized by the manufacturer, but this is rarely the case with used car leases. With a lease car out-of-warranty, you are facing a large repair exposure at the time of turn-in if there are any mechanical problems with the car. And don't let the CPO program fool you; the CPO warranty is very limited in its coverage, and is by no means a continuation of the initial factory warranty.

Look into leasing a new 325. You'll get performance very similar to the 328, and because of subsidization and the inherent lower cost of new car leasing, you'll probably pay the same or less, even if the actual price of the car is slightly more. Plus you get the warranty and that new car smell, along with the opportunity to spec the car out exactly as you want.

If you do decide to go used, buying it would seem to be the way to go. IIRC, someone posted recently that BMW Financial is offering very low interest rates on CPO 3 series of a certain vintage.

Go Blue, etc.

 

[umichalumni]

Wow, glad I came to this board, the reason I initially figured to lease a CPO was because after talking to a local salesman in my area he really made it seem that the CPO warranty did cover everything except stuff that wore, ie clutch, brakes. I suppose he was just trying to move a car. Also I figured, the price for a new 325i would run higher than a used 328i after I added options to the 325 and I could get the 328i pretty much loaded. Also, I know lease payments are based on depreciation of a car, and a new 325i might be likely to depreciate more than a used 328i, since new cars depreciate more rapidly. Apparnetly this doesn't seem to be the case though.

I have a couple more questions, if I were to lease a new car could I use Euro-Delivery and would it result in any additional discounting of my lease payments? I hope to be moving to the Baltimore area shortly, and was wondering which was the dealer to go to for the best deal? Thanks all the help is appreciated.

Go Blue

 

[JST]

Yes, you can lease doing ED, and yes, it will have a substantial impact on your lease payment. Since the capitalized cost of the car is figured on the US MSRP (even if you do Euro delivery), any amount that you save off MSRP is akin to a capitalized cost reduction (IOW, putting money down). ED would thus act like a $3K down payment.

One word of caution, though: the lease payments for ED start early. IIRC, it's one month prior to the pickup of the car. This means that you're lease clock is running while the car is being shipped back to the US. This, coupled with the trip costs, may eat up any savings that ED provides on a lease.

As for dealers around Baltimore, I don't know, but there are a number of dealers in the DC area. Of those, the best deals I've seen have come from Passport (in Maryland) and Sterling (in Virginia). ED prices can be negotiated; as with any negotiation, start from invoice and expect to add a reasonable dealer profit. I've seen as little as $1200, but I think anything in the $1500 over neighborhood would be considered a very good deal.

Remember to negotiate the purchase cost of the car before you start talking about leasing. Once you've settled on a price, you can ask about residuals, money factors, etc. and have the dealer walk you through that end of the deal.

Wow, glad I came to this board, the reason I initially figured to lease a CPO was because after talking to a local salesman in my area he really made it seem that the CPO warranty did cover everything except stuff that wore, ie clutch, brakes. I suppose he was just trying to move a car. Also I figured, the price for a new 325i would run higher than a used 328i after I added options to the 325 and I could get the 328i pretty much loaded. Also, I know lease payments are based on depreciation of a car, and a new 325i might be likely to depreciate more than a used 328i, since new cars depreciate more rapidly. Apparnetly this doesn't seem to be the case though.

I have a couple more questions, if I were to lease a new car could I use Euro-Delivery and would it result in any additional discounting of my lease payments? I hope to be moving to the Baltimore area shortly, and was wondering which was the dealer to go to for the best deal? Thanks all the help is appreciated.

Go Blue

 

[bren]

umichalumni check your PM...