Newb X5 shopper - CPO price questions

jaylaforte · #1 02-24-2009, 12:25 PM

Hello everyone

I've been lurking through the forum for the past week and am impressed with what I've seen so far! I'm in the process of trying to find a CPO X5 and I was hoping to get some input from all of you.

I found a 2006 4.4i Titanium Silver, Blk Dakota Leather, Premium Package, CWP, Rear Climate, Heated Steering Wheel, and Navigation with 16k miles. The dealer wants $36k for it and has argued that's as low as they're going to go due to the low mileage. Now I know there's no way that's as low as they COULD go and I find it hard to believe that V8 SUVs (err, SAVs) are just jumping off the shelves...

What would a reasonable price be for a x5 with similar options? There are a couple others in the area (Hartford, CT) that have similar options with more miles so I'm definitely going to shop around but don't want to shop blindly...

Thanks in advance for any advice you can give!!

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Michelle · #2 02-24-2009, 12:55 PM

:xoutpost:

$36,000 is waaaaaaaaaaay too much for a 2006 4.4i. Let it go. There are plenty others out there.

Search www.cars.com for current asking prices. I've found many around $26,000-$30,000 with the same mileage and more options (Sport Package being one) as the one you described above.

jaylaforte · #3 02-24-2009, 01:01 PM

Thanks for the quick response Michelle! I knew $36k was an insane price but didn't realize I could find something similar for under $30k. I will definitely take your advice and check out cars.com...

Michelle · #4 02-24-2009, 01:03 PM

No problem. Once you find the one for you, bring it to the Tri-State Meet in Stamford on June 6th!

(Click the pic)

Puddlejumper · #5 02-24-2009, 03:54 PM

NADA Values for that car w/ options 16K miles (feb book, eastern region):
Clean retail: $32,975
Clean loan: $26,525
Clean trade in: $29,025
Average trade in: $27,200
Rough trade in: $25,025

I would never pay more than avg trade in. Considering the state of things you should be able to get a sweet deal.

jaylaforte · #6 02-24-2009, 04:07 PM

Great advice... I'm seeing a lot of great deals for privately owned X5s but every single stealership insists their X5 is worth 33k+. I swear if someone pushes .9% financing on me as a reason to spend an extra 6k on a car I'm going to flip out...

Is there really any other benefit of staying with a dealership other than the CPO warranty??

shudogmotorsport · #7 02-24-2009, 04:19 PM

Dealerships ususally purchase vehicles for around 1000 under trade in. Your offer should be 500-1000 over trade in value. The market right now has dealerships moving as much inventory as possible. Don't work them down inch by inch. Have a set price on what you want and don't give in at all. It take time and alot of BS, but you'll get what you want.

anerbe · #8 02-24-2009, 04:43 PM

well, if you account 0.9% financing opposed to 4.9%, you save mid $2K, and if it's CPO'ed, that's worth another $1500/$2000 over a non-cpo vehicle.

look at Cars.com/autotrader and bmwusa. if you find a cpo vehicle from a bmw dealership, $3.5 to $4K over private price may be worth it!

anerbe · #9 02-24-2009, 04:45 PM

also note that with 16K, there's probably no way you'll use all your CPO warranty. don't rule out higher mileage X5's - they may have had more highway use than stop and go city (which means engine doesn't have as much use/chance to warm up on cold starts)

X5 Meister · #10 02-25-2009, 12:03 AM

CPO from BMW is worth more than $2000. Say if you are the original owner and you buy their CPO for your car (Original Owner Protection Program) that retails for $3249.

Quote:

Originally Posted by anerbe

well, if you account 0.9% financing opposed to 4.9%, you save mid $2K, and if it's CPO'ed, that's worth another $1500/$2000 over a non-cpo vehicle.

look at Cars.com/autotrader and bmwusa. if you find a cpo vehicle from a bmw dealership, $3.5 to $4K over private price may be worth it!

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