Got my buyout quote today:

[NY-4.8IS]

Originally Posted by PUZZ

I'm not sure what they are getting, but I see '08 4.8's similarly equipped with similar mileage routinely listed from anywhere between $46 to $49K in my area, CT, including NYC - Tri-state.

I may just take the gamble and buy it. The items most likely to cause trouble aren't covered anyway.

I brought an 07 fully loaded (third row, hud , tech, sports, rear entertainment, cold weather package, black on black) with 38,000 for $34,000 in January and im in NYC..... I saw '08's in the upper $30's

[francars]

Originally Posted by NY-4.8IS

I brought an 07 fully loaded (third row, hud , tech, sports, rear entertainment, cold weather package, black on black) with 38,000 for $34,000 in January and im in NYC..... I saw '08's in the upper $30's

What a deal! Wish I was in the EAST coast.

[BGM]

Originally Posted by francars

What a deal! Wish I was in the EAST coast.

Do a search on Autotrader for '08 CPOs under 30K miles and under $40K and it pulls back a total of 1 in the whole US. That's not a normal market price. Nobody sells them that cheap unless there is a much larger underlying factor.

[NY-4.8IS]

I tried autotrader..... no good for me. i kept finding dealers that advertised vehicles that they no longer had. After awhile it seemed like a scam... and i mean i tried many dealers in a three month period. What worked for me was manheim.com An acquaintance of mine has access and gave me his log-in info so i could check at my convenience.

[francars]

Originally Posted by NY-4.8IS

I tried autotrader..... no good for me. i kept finding dealers that advertised vehicles that they no longer had. After awhile it seemed like a scam... and i mean i tried many dealers in a three month period. What worked for me was manheim.com An acquaintance of mine has access and gave me his log-in info so i could check at my convenience.

I think the broker I am working with is doing that. He gave me a list of auction tomorrow in North Cal. Found a few 08s with the options but he says realistically if I want low miles (under 30k) black/black, sport, tech, 3rd row, 20s I am at $38k range? He initially mentioned mid $30ks but he says for some reason the demand has gone up recently? Obviously these cars are not CPOd but might have some Manufacturer Warranty left

[NY-4.8IS]

Originally Posted by francars

I think the broker I am working with is doing that. He gave me a list of auction tomorrow in North Cal. Found a few 08s with the options but he says realistically if I want low miles (under 30k) black/black, sport, tech, 3rd row, 20s I am at $38k range? He initially mentioned mid $30ks but he says for some reason the demand has gone up recently? Obviously these cars are not CPOd but might have some Manufacturer Warranty left

some of them may very well be CPOd... take your time and shop wisely.... good luck

[sleepless]

Originally Posted by NY-4.8IS

I brought an 07 fully loaded (third row, hud , tech, sports, rear entertainment, cold weather package, black on black) with 38,000 for $34,000 in January and im in NYC..... I saw '08's in the upper $30's

Really 08 4.8 for upper $30's .. CPO ? ..... can I ask u where did u find these ? I have been looking in Tristate and its in the mid to low 40's.......

[NY-4.8IS]

Originally Posted by sleepless

Really 08 4.8 for upper $30's .. CPO ? ..... can I ask u where did u find these ? I have been looking in Tristate and its in the mid to low 40's.......

I never mentioned CPO.... my 07 was and is under factory warranty with clear car fax. As I mentioned before, I used Manheim for my search.....

Good luck......

[MrAbeFroman]

General question about buying out a lease. In terms of negotiating the price, can you basically assume that you take the residual value and add $2000-3000 for CPO and that's your sale price?

Are there other factors involved? Is it possible to negotiate the residual down? In other words, is the salesman's hands tied or is this essentially no different than negotiating the sales price on any vehicle on the lot?

[faz]

Originally Posted by MrAbeFroman

General question about buying out a lease. In terms of negotiating the price, can you basically assume that you take the residual value and add $2000-3000 for CPO and that's your sale price?

Are there other factors involved? Is it possible to negotiate the residual down? In other words, is the salesman's hands tied or is this essentially no different than negotiating the sales price on any vehicle on the lot?

My experience has been that BMW lease arrangement sets a high residual value for their cars (this allows them to provide a *reasonable* lease option while having a large MSRP). From a few cases that I have seen and my own experience, after 3 year lease is over, the buyout price set at the lease inception (for an average lease, 12k miles per year) is larger than the current market value of the car. In my wife's 328i case, I could buy a similar 328i with CPO from a dealer for less money than my own car's buyout price.

When you return the car to a dealer, that dealer has an option to buy that car from BMW for whatever price it is that BMW is offering it to the dealer (which is normally lower than your buyback price, and BMW did not offer anything lower than the buyback price directly to me, for example, even though I contacted them and asked them about it.) So the dealer ends up buying the car from BMW for less than your buyback price, and they could turn around and sell it back to you at a small profit, but still lower than your original buyback price.

My buyback price for 3 series was sightly over $24k, and I worked with the local dealer and bought it back from the dealer for $21.5k. Note that in this scenario, you will end up paying for any extra mileage that you may have used over your lease term, since the mileage of the car is worked into the price that BMW will offer to the dealer. In my case, however, I was still 20% below the negotiated mileage allowance and still my final price ended up being less than the buyback price on my lease agreement.

You can buy an extended warranty when you get your car and it is still under original warranty. I would not do a 'cpo', as in give the car back to the dealer, let them CPO the car which means they may have to change tires/brakes/etc. - extra cost that will be transferred to you - and buy it back as a CPO. I would think you would be better off buying back the car on its own, and getting a BMW (or third party) extended warranty afterward.