Shocked by declining values

[Best4x4xFAR]

Originally Posted by nasdakboy

We just picked up our 06' X5 4.4i christmas eve. Has cold weather package with heated steering wheel, rear load sliding floor, sport package, premium package, navigation, bluetooth, adjustable air ride suspension and panoramic sunroof. Got it CPO'ed for $23,900, financed at .9% and BMW paying first 2 months payments. Car has 36k miles on it. I was surprised they had gotten hit that hard but that's what drew us to pick one up. Overall I'm very happy with the deal we got. However if I was the guy who traded that thing in, I'd be pretty upset. That's a huge hit in 2 years. Build date August 06'. Just keep it bro. I like the X6 but not over a 4.8is!

Is it just me, or is that a smoking deal, even these days? I couldn't find anything near that in my area for the last couple of months..

[nasdakboy]

Originally Posted by Best4x4xFAR

Is it just me, or is that a smoking deal, even these days? I couldn't find anything near that in my area for the last couple of months..

I shopped around for quite some time and honestly spents hours online and calling different dealerships in the entire tri-state area. Even drove to Jersey a couple times from Long Island to see a few of them. Finally found one pop up on bmwusa.com as a CPO and it had a low asking price. Figured something had to be wrong with it so I immediately called the dealer and asked about the truck and it was available. He said to me "how did you even know we had that vehicle? We just got it in off a lease return yesterday and the car hasn't even been prepped yet?". Told him I found it on bmwusa.com's website and he was pretty shocked. He said he didn't even know they had the car yet. I asked if I could drive there that evening to see the vehicle and he said that the truck hasn't been cleaned yet or anything and I said perfect. That's how I wanna see it before anything's cleaned or fixed to get an idea of perhaps how the previous owner took care of it.

I got to the dealership and the truck was pretty dirty on the outside and a little dirty on the inside but not too bad. The only damage to the truck was the front and rear bumper which I pointed out and they agreed to respray them for me. I test drove it and it rode awesome! One of the best ones I test drove. The salesman told me that the car has a clean title and should pass BMW Certified pre-owned requirements and he will let me know after all is completed. Took them about a week to do the maintenance, CPO inspection and approval, paint the bumpers and detail the truck but when I went there to pick it up it looked like brand new and I was happy. I knew I struck gold with this truck and still couldn't figure out why it was so cheap but the salesman told me that the guy had a ridiculous 2-year lease and paid for more mileage than he needed. He showed me the previous owner information on BMW's system and it belonged to a doctor from Bedford, NY. The history in the navigation system showed all locations in Westchester NY and New Jersey which leads me to believe that the truck has mostly highway miles. Anyways, that was my experience, sorry for the long post and just keep looking! I seriously looked at about 30 different X5's! It was pretty exhausting