Excited new member

antochat · #1 10-02-2009, 04:43 PM

Hi Guys,

Happy to be a new member on the forum! I am currently shopping for a 2004-05 4.8is. I have my eye on a couple, but being a newbie is there anything in particular I should look out for? You guys are the experts so I'm all ears.

Thanks!

Antony

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Naz24 · #2 10-02-2009, 05:18 PM

i would HIGHLY suggest finding a certified preowned one. That warranty is a lifesaver with repairs

antochat · #3 10-02-2009, 06:16 PM

Yeah I agree. Not many '04, '05 CPO's though...Anyone have any leads? I am returning a lease vehicle this month so the pressure is on!

zracer196 · #4 10-02-2009, 06:57 PM

How much do you have to spend?? I passed on a couple...There is a VERY nice silver 05' in Cali CPO car...37K miles that I had almost bought for $37K shipped to Florida. I bet you could get that for less than $36K if you went to Cali and picked it up. Santa Monica BMW...

I bought an 05' first...Privately...Mistake for me. Glad I got out of it. I would have had $32K+ in it w/o a warranty. WHO KNOWS what else I would have found wrong with it. And that was the cheapest low mileage example I found. Again, I spent more, but it will pay off.

antochat · #5 10-02-2009, 08:07 PM

Well I was thinking 25k for an '04 and high 20's for a '05. The Market is pretty soft right now and I don't think dealers are getting top dollar for much right now. Obviously I'll pay more for a CPO low miles one...$36,000 for an '05 is a bit steep don't you think?

zracer196 · #6 10-02-2009, 09:19 PM

Depends on what kind of risks you want to take.

I just spent a LOT of time looking for a 4.8is. Checked Cars.com, Autotrader, Ebay, etc. AND the auctions.

Private prices are mid 20's - mid 30's and up. From what I have seen, mid 20's gets a high mileage or not nearly perfect example.

The 05' NO WARRANTY example that I bought was about the cheapest one in the USA with less than 40K miles at $29K. And it had PROBLEMS. Lucky to get out of that one.

The Auctions (Manheim) are selling them for $33 - $36K - 05 - 06 examples again with low miles.

You can probably find an 04' with 65K+ miles in that range...But I would be nervous. Add a $4K warranty (IF they will warranty a high mileage car) and you are near $30K.

These cars have issues from time to time...And are expensive to repair.

This is MY .02 since I have just put a lot of time and aggravation into this search.

Just did a search...Not much there...Bunch of junk.

Used Cars for Sale: Listings Near 32736 - Cars.com=

I am sure if you wait however, you could get the right car from the right seller.

Naz24 · #7 10-02-2009, 09:31 PM

Quote:

Originally Posted by zracer196

Depends on what kind of risks you want to take.

I just spent a LOT of time looking for a 4.8is. Checked Cars.com, Autotrader, Ebay, etc. AND the auctions.

Private prices are mid 20's - mid 30's and up. From what I have seen, mid 20's gets a high mileage or not nearly perfect example.

The 05' NO WARRANTY example that I bought was about the cheapest one in the USA with less than 40K miles at $29K. And it had PROBLEMS. Lucky to get out of that one.

The Auctions (Manheim) are selling them for $33 - $36K - 05 - 06 examples again with low miles.

You can probably find an 04' with 65K+ miles in that range...But I would be nervous. Add a $4K warranty (IF they will warranty a high mileage car) and you are near $30K.

These cars have issues from time to time...And are expensive to repair.

This is MY .02 since I have just put a lot of time and aggravation into this search.

Just did a search...Not much there...Bunch of junk.

Used Cars for Sale: Listings Near 32736 - Cars.com=

I am sure if you wait however, you could get the right car from the right seller.

what ended up happening with your X? what was wrong with it?

zracer196 · #8 10-02-2009, 10:28 PM

Well...The buyer underestimated his payoff...I was already back in Florida 500 miles away from him when he called. He did not want to pay the additional funds...Neither was I.

The car...A few dings (minor), couple of interior issues (minor), air bag issue causing car to lower when parked over an hour or so (problem not known yet), thrust bushings, windsheild washer pump, rashed wheel, bald tire, etc. Maybe about $3000 including a nice detail. Far from the near perfect, only steering wheel is peeling, everything works fine car that he described. For it having 36K miles, it should have been in great shape.

All is well in the end. My 06' should be here next weekend from Cali. Bought from BMW...I am assuming they know how to describe a car! (or not, we'll see!!!!).

ZsX5o3 · #9 10-02-2009, 11:41 PM

I would rather take that extra money for CPO and buy a Good aftermarket warranty. Then you can buy the car you really want and actually be covered for everything on the car.

willgabriel · #10 10-03-2009, 01:23 AM

Quote:

Originally Posted by ZsX5o3

I would rather take that extra money for CPO and buy a Good aftermarket warranty. Then you can buy the car you really want and actually be covered for everything on the car.

I agree. I know I did what some would say is a no-no: I bought a '05, 4.4 (sport and premium) with 89k miles on it. The only needs it had were thrust rod bushings, guibo, oil pan, and vacuum pump that I had fixed by my Master BMW indy mechanic for $1600. The X5 was bought for $18,500, and the previous owner added $700 to the needed repair costs. It also has the 100k extended maintenance plan and a 3 year tire and wheel package. So, for $19,400, I know have an X5 that is in tip-top shape according to my mechanic. Yes, things could break, but any catastrophic failure is unlikely.

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