Newb X5 shopper - CPO price questions
 

Hello everyone :wavey: 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!!

:xoutpost: :wavey:

$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. :goodluck:

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...

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

(Click the pic) :thumbup:

http://i43.photobucket.com/albums/e3...eSignature.jpg

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.

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??

The right price
 

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.

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!

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)

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.

I guess if it makes you warm and fuzzy otherwise its a rip off. Consider you just paid your 3249 price and you total it on the way out of the lot. I don't think the insurance company will even consider giving you that money. Its a bad investment.

Huh? I don't get what you are saying. My point is simply that if you get a CPO car, the CPO wasn't $2000, but more like $3249. What it's really "worth" is debatable and has been a topic of half the threads on this board!

OK,
Just bought a fully loaded CPO 2005 X5 4.4i in November with 28k miles. Window sticker was $66k when new, happy to post a photo. X5Meister is correct, the certification for the 4.4 X5 can be $3200 if they have to install new tires etc. Mine did not need tires as the Previous leaser bought new ones before turning it in,so it was closer to $2400 for the CPO. My deal was for $29k with the certification, $26,600 without. Also they added tint, clear bra, new summer and winter mats. Took advantage of BMW's 1.9% interest for 60 months and first two payments paid promotion.

For me, at the end of the loan I will be money ahead with the difference in the 1.9% and the almost 5-7% used car loans I was looking at with outside financing. That is including the Certification. Made total sense. Also, in my opinion, with vehicles that are this expensive and lose that much initial value in the first few years, if you don't buy the GAP insurance, you are foolish. $500 is nothing if you total out the vehicle like what puddlejumper described. This additional GAP policy ensures no matter what the difference (gap) between what you owe compared to what the totaled vehicle is worth, it is paid off and you are free and clear. It is tied to the overall loan amount, not the vehicle value alone. And yes, I sleep better at night knowing I have this coverage. ;)

Just my experiences, and my $0.02

Thanks everyone for your input. Definitely some good insight gained from this. I'm going to search the forum for opinions on the CPO warranty but as of now it seems to be a good idea to get the warranty with the costs of parts/labor. As enticing as saving several thousand dollars is by buying private party, I know I probably wouldn't be disciplined enough to put aside the money saved in case repairs were needed. I can think of the CPO warranty as a piggy bank...

Hopefully I'll be ditching my tC for an X5 soon!

As you can tell from the number of posts I have....I'm pretty new to the BMW arena. I do know Chevy Suburbans quite well though!

Anyways, I would also have to say the CPO is worth about $3,000 more than a thrid party purchase.

We just walked away from a sale because of the mechanical history on the vehicle. In awesome shape, just had some past history I didn't want to deal with.

At a BMW dealer:
2006, 4.4, Cold Weather, No NAV, No Sport edition, rear heated seats, heated steering, comfort seat option, rear sliding trunk, no door dings, and interior in great shape! 29,500 miles, CPO to 100k, price $33,500.

Although we returned the vehicle, I did learn that the CPO process costs the dealer about $2,000 plus any necessary equipment that may need to be added. The only thing I can think of would be tires. The 50k maintenance covers everything else (including brakes).

Hope this helps in your decision process. And yes, they push the financing because they make more money from the sale. Apparently, cash does not "talk" anymore with dealers.

So now you paid more than its worth and you justify this by purchasing GAP insurance. So now your insuring the insurance policy for maintance. Yep, clear as mud.

Pjumper, with all respect, in my opinion you haven't thought this through, nor do you know the full circumstances of my transaction. Allow me to "thin" the proverbial "mud" for you. The CPO certification is not like adding rustproofing, a dentless repair package, tire/wheel protection and other worthless "add-on" dealership crap at the time of sale.

The whole concept of the CPO program is you are, in essence, buying an extended warranty plan from the manufacturer instead of some independent provider. The independent annual warranty costs can eclipse the CPO Certification, in many instances, for the same coverage time frame. I am further guaranteed continued OE parts and BMW service where I might not if I bought plan "X". Bottom line, I WANTED the extended warranty and would have bought it anyway, if not available from BMW.

Buying my X5 with the CPO Certification I also took advantage of 2.9% BMW financing and the first two payments paid ($1,000+). NO bank was loaning anywhere near 2.9% for a "used" vehicle, so I also, after doing the math, am paying LESS OVERALL, than if I had bought it outright without $2400 CPO certification. Hell, subtract the $1,000 for the "2-payments" promotion and CPO was only $1,400.

Since numbers speak volumes, had I bought outright at $26,600 and acquiring a standard used car loan, between 5.9% and 7.9% at the time, I would have spent $2k to $3.5k in additional interest over the life of the loan not choosing CPO and BMW Financing. No matter how you add it up...less is less.

As for the $500 GAP insurance, how is guaranteeing full payout/payoff of my loan, should I incur a total loss, a bad thing? What is the downside? If I had gotten in a wreck on the way off the car lot after signing the papers, or even tomorrow, and the vehicle is a total loss, it would be paid off fully and I start over clean with no residual debt. I am only out the $500 for the policy. Of course this policy only makes sense when you are upside down on your loan to vehicle value ratio.

Lastly, I do not think $26,600 for a 2005 4.4i with 28k miles was too much to pay. I know the original owner personally (fellow BMW CCA member), know the mechanics at the dealership that maintained it since day one, I saw/rode in it on a regular basis and it was in brand new condition. How much is that worth?? To me $26,600 plus CPO certification apparently.

i picked up my 05 black, "meticulously taken care of", engine/ engine bay you could eat off of, 58,500miles (all highway) for 21,500 no warranty

Today? Post some pics.

Again, that is a good deal if it is a 4.4i, and depending on the options it has. If it is a 3.0i, then maybe not as much a good deal, but more in line. Without knowing these vehicle details, within your post, it really is impossible to judge. Now if it was a 4.6is, you got a smokin deal. I have been around enough to know, there is compromise in every deal, buyer or seller. How much compromise, big or small, you can live with is the true decision.

The bottom line is, are you happy with the deal? Are you confident in your purchase decision? If so, who cares what anyone else thinks. Go out and enjoy that thing.:D

Haha, there's a difference between cost and retail price....

Trust me - it costs about $2200-2400 to CPO a BMW V8. Of course If you have good bargaining skills, you should be able to get a dealer to give you this price (or lower!). Otherwise, make friends with a service advisor. It helps.

I.E. Give them a set price of the worth of the car based off rough trade in, and factor in $2000 for the CPO. If they need the sale, they will do it.

What you are talking about is the Original Owner Protection Plan. Your prices are retail. There is no retail price for CPO, but dealers will try to add the retail cost of the Original Owner PP to the CPO when selling. Again, if you are a good bargainer, you will NOT pay retail.

BTW, here it is buddy:
http://www.bimmerfest.com/forums/att...4&d=1172689549

Anerbe,
That is some great information!! That said, it is 5 years old. I still think looking at the price matrix, you could be confident that the percentage of markup is about the same and apply that to 2009 pricing.

I am sure BMW FS is glad this information is out there.:nanana: Like it is said, knowledge is power in negotiating....this is good knowledge!!!!

Yeah I understand your points and all that. My point was simply that it matters less what it costs the dealer to do it and really more what it is worth to the car's owner for resale value, etc.

I agree - the file looks pretty accurate, as it nails your retail cost of the Original Owner Protection program.

Hello everyone,

I'm new to x5. Just picked up a CPO 2006 X5 with 21k miles on it for $29k in the the NYC metro area. My pilot lease was expiring so I decided to take advantage of the 0.9 financing over 60 months.

I got a stratus gray with beige interior. The only option I don't have which seems to be common in the X5s are the xenon lights.

The car is much smaller than the Pilot and has a much sportier (bumpier ride for my mother in law in the back :(, but everything is good.

I noticed that they extended the 0.9 offer yesterday, so I guess my gamble didn't pay off (didn't need it till June), but I can't complain.

I got completely ripped on my CPO a year ago. I bought a 2004 3.0 with Nav at 32k miles in Jan of 2008 for $35k + TTL. It seemed like a good deal at the time because they were selling a little better back then and all the dealers wanted the same price but now I regret paying that much.

I can't wait till I can buy my next one. If I only knew what I know now.

Well, I ended up buying a 2005 CPO 4.4i with 24k miles on it for 29k. I couldn't get the dealership to move on the price for the 2006 and they ended up selling it. My X5 is Sterling Grey with grey interior and I am really impressed with the color. When they called me and told me about the car I wasn't too excited about the idea of a "grey" car but in person it looks AWESOME! Is there such a thing as a bad color with BMWs???

So I'm sure there are better deals to be had but I felt comfortable paying 29k for a low mileage X5 in mint condition with the CPO warranty and .9% financing. I'm VERY excited to be able to be a "true" member of the X5World community now!!!

I pick up the vehicle tomorrow and I'll try to post some pics!

I really appreciate everyone's feedback in this thread as well - I've never been on a forum before where there was so much input offered.

ubfan,
That is a great interest rate (0.9%). I believe you also get your first two payments paid by BMW don't you? I know when I bought my X5 back in October o8' that was the promo and I remember seeing it again last month. That can be an additional $1k+ "savings" and 90 days until your first payment.
Congrats on your new ride....

Can you guys confirm the 2 payments from BMW?

I bought my 06 4.4 w/ 42K miles (awesome condition) with the 0.9, but was told that the 2 months payment was not available on the X's.

Is this true?

anerbe - I was told it wasn't available with the .9%. The previous deal was 1.9% with first 2 months paid.

jaylaforte,
Congrats on your new ride as well. I love the silver, it really shows off the contrasting black, and chrome, accents well and will look clean longer between washes.

Concerning colors...I also would not have expected Highland Green Metallic to be a color I liked very much. But in person, it was pretty cool and not a "GREEN" in the traditional sense. It actually looks more dark gray and only in certain lighting does the green hue show itself. I like it because its different. I'm sure when people were ordering exterior colors out of the catalog or online, green was not their first choice. That said, I have seen very few in this color, which I like.

Is there a "bad" color for BMW's....while not available for the X5, the only color that comes to mind is Phoenix Gold....only looked "good" on the Mcoupe, in my opinion. Some don't like the Laguna Seca Blue, but I like it. Depends on what car is wearing it.....

Congrats! Can't wait to see pics! :driver:

Thanks for the congratulations! I will definitely post pics while the car is still nicely detailed and before the New England slush and sand taints the beautiful paint...

I can't wait for tomorrow!!! :woohoo:

P.S. Don't forget about the Tri-State Meet on June 6th!!

Did you get a 3.0 ?

Michelle -

Most definitely! Stamford is only an hour and a half away so you can pretty much count me in (need to make sure I don't have anything else going on and check with the wife). Only problem is - I'm going to see all the awesome mods everyone's done and want to spend more money!

Wrong way to look at it. You've had a year to enjoy the car, isn't that worth something?

If I bought a car when I needed it and paid list price, enjoyed it immensely for 3 years and then walked into a dealer to see that the price was half as much IF ONLY I HAD WAITED 3 THREE YEARS, I should feel like I was ripped off??? No way man.

Yes, I got a 3.0.
I don't think they have the pay 2 payments promotions anymore.

someone else at the dealership was picking up a 4.4i for $35k in the same color the same time I picked up mine. Is it still 0.9 for 60 months? That's what I got.

I think X5's were cheaper about 1 month ago. Looks like the dealerships were able to move much of their inventory with this promotion. I'm surprised they still have it cause one dealer had no more X5s and another was not really willing to haggle that much.

The dealer I did purchase from offered the car for $32900 so I was able to knock off $4000 which I think is pretty good considering how clean this car is.

Price of gas was a killer not that long ago. People were pulling away from SUV's. Now gas is almost free. (joking)

The dealerships are definitely moving X5s quickly now. There is only 1 4.4i within a 50 mile radius now. I ended up contacting 5 dealerships and 4 of the X5s I was interested in at first sold. Not to mention the dealerships were only knocking off 2 grand off the price. The one I bought I got for 29000 and they were asking 31900.
I agree with X5_Meister that you can't beat yourself up with the fact that you could've paid less. As long as it was worth it to you that's all that matters. I have friends that think I'm nuts to spend so much money on a car but the smile I got when I test drove it was enough for me!!

So the .9% is on till April 30th now but only for 2006 and 2007 CPOs. Apparently the 2 months free has been done for a few months now...

Yeah saw that. Looks like the extended the offer, but dumped the 2005 BMW's. Still too bad they are not including the 4.8is model. I can't understand why.

Yep, I tried until I was blue in the face to get .9 financing on my 4.8is. BMW simply stuck their tongue out at me!

I shopped around for rates right quick, the financial institution that I work at had the best rate for my area, so I went there and then got the employee discount. Thank that BMW Financing! :nanana:

stay away the price for these sav's has fallen through the floor..if you buy it plan on keeping it for a long time to recoup some of your money otherwise you are going to lose 8-10k in one year...i have an 05 4.4 cpo.. purchased in august/2008 and went to trade it in and was offered 20k..i have to keep it for a while...rob

puddlejumper..could you give me a quote for a 2005 4.4 prem/sport packages wit 17k miles...thanks rob

It happens to all kind of cars. Trade-in or wholesale value will be about $7K to $10K less than retail, no matter what kind of car that is. That is how they make profit in the next transaction. Don't feel too bad about it. It is how it always works. If you put down $10K on $30K car, you will lose that $10K down six months later, or $5K as soon as you drive out of the door.

also, i think that 0.9% is only available on 06 select models. 07 starts at 3.9%

Only 5 hours left until delivery! I feel like I'm 5 years old again and it's the night before Christmas. Concentrating at work is impossible right now...

Oh and interesting tidbit with the car - I figured I would get screwed on the value of my trade in from the dealer so I went to Carmax last night to get a quote... Carmax was 2k under the dealer! I'll have to search the forum for other people's experience with Carmax but I thought that was a bit backwards...

:thumbup: :rofl:

I have a feeling you'll get bit hard by the modbug!

:iagree: I may or may not have been shopping around for tints already... :D

:rofl: :thumbup:

Yep, NADA Eastern Region, March 2009
Rough 24450, Avg Trade-In 26550, Clean Trade-In 28300, Loan Clean 26125, Retail 32,050. This is with NAV and Power Sunroof; subtract 850 without nav and 550 without power sunroof. FYI these numbers include a positive mileage adjustment of $4000 and sports package.

In my opinion you would be better off getting a non-cpo vehicle and investing the difference in an aftermarket warranty.

You should thoroughly look at what is actually covered under CPO so you are not disappointed.

ya I now I'm beating a dead horse but though personal experience fidelity is a good one. Pretty sure its owned by the Moran family which owns Southeast Toyota.

I've heard great things about Fidelity too, especially their Platinum level.